There definitely has to be different economics and doubtful reserves if a card is a charge versus credit, but it must be a brand issue. I can't see how else Capital One is losing the battle for super premium marketshare with VX. I agree going to charge doesn't help the end consumer because they will still make a gametime approval decision. I can only see it helping their financial books. I also know they are continuing to look at opportunities to reduce unused credit by doing automatic reviews. These are not characteristics of a premium issuer.

I think they just don't have the team depth compared to AmEx and Chase (which is primarily ex AmEx).

So many questionable decisions.
Coffee Cafes open to everyone?
Young and hopefully low spenders (Taylor Swift sponsorship or iheart affiliation)?
Not prestige cobranded (Kohls, Walmart, etc.)

Maybe getting their own forum here seemed promising, but we are dedicating a forum for maybe 2 or 3 cards in their entire portfolio.

If there wasn't already a banking crisis or they has a much higher average cardholder profile, they would be an acquisition target. But now, it is way cheaper for another issuer just to get their good customers to go elsewhere. Or maybe they are positioning to sell just the Venture portfolio by changing how it is profiled?