Mar 20, 2023, 12:59 am
Last edit by: SpaethCo
This needs additional details for business cards, but for personal cards it's important to point out that all Venture cards retain the full availability to transfer miles to partners.
Capital One product change link: https://verified.capitalone.com/auth...ProductUpgrade
Important Note: Capital One refers to every product change as an "upgrade" even if you are technically changing to a lower tier card. Only a handful of other products tend to be available (ie, Savor cards rarely show up as an "upgrade" option), and the cards you are presented by the upgrade link may vary over time. For the Venture and Venture X, the no annual fee VentureOne is often presented as a product change option and can be a valuable option to preserve a points balance.
The no annual fee VentureOne card only earns 1.25x points for purchases, but it retains all of the rest of the Venture card transfer powers.
For example, the no annual fee combo of SavorOne and VentureOne would earn 3x points on Dining/Grocery/Entertainment (SavorOne) and 1.25x points on everything else (VentureOne). With that combination you retain the 1:1 transfer ability with all of Capital One's transfer partners.
Capital One product change link: https://verified.capitalone.com/auth...ProductUpgrade
Important Note: Capital One refers to every product change as an "upgrade" even if you are technically changing to a lower tier card. Only a handful of other products tend to be available (ie, Savor cards rarely show up as an "upgrade" option), and the cards you are presented by the upgrade link may vary over time. For the Venture and Venture X, the no annual fee VentureOne is often presented as a product change option and can be a valuable option to preserve a points balance.
The no annual fee VentureOne card only earns 1.25x points for purchases, but it retains all of the rest of the Venture card transfer powers.
For example, the no annual fee combo of SavorOne and VentureOne would earn 3x points on Dining/Grocery/Entertainment (SavorOne) and 1.25x points on everything else (VentureOne). With that combination you retain the 1:1 transfer ability with all of Capital One's transfer partners.
Keeping Capital One cards? [Cancel, Exchange, Retention Offers, all cards]
Apr 18, 2012, 1:23 am
#196
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,763
I dont know why you are surprised by this. I have posted my experiences in Mid March on this thread about what I was told - essentially exactly what would happen that happened to you.
Since then some got the waiver / or fee reversed...
Also as the poster MissQ12 just 2 posts above yours pointed out, the offer is either attached to your account (so you get it) or it is not attached to your account so you dont get it. Yes, it is system generated. It is the same way Citi's retention offers work except Citi now has become much more generous in designing its system on who gets what - basically most everyone gets some kind of retention offer except some are far more generous than others. Ditto Chase. Threatening to close really is a childish act that only comes from lack of knowledge on how system works.
Since then some got the waiver / or fee reversed...
Also as the poster MissQ12 just 2 posts above yours pointed out, the offer is either attached to your account (so you get it) or it is not attached to your account so you dont get it. Yes, it is system generated. It is the same way Citi's retention offers work except Citi now has become much more generous in designing its system on who gets what - basically most everyone gets some kind of retention offer except some are far more generous than others. Ditto Chase. Threatening to close really is a childish act that only comes from lack of knowledge on how system works.
Annual fees posted at the end of March on my personal + business Venture cards. A few days later (April 3) I called about the personal card and was offered a waiver; I called back about the business card and was told that they couldn't waive the fee for the Venture but they could switch me to a no-fee card, and I accepted that.
I called again today after noticing that the fee for the Venture card was still showing on my account, and was told that they weren't going to reverse it! I.e. that switching to a no-fee card on April 3 would't get me out of the annual fee for the Venture card that posted in my statement on March 28. Can that be correct? If so, outrageous.
Does that track with what anyone else is experiencing -- has anyone who switched to a no-fee card seen their fee come off?
Update: I did call back and confirm that if I cancel instead of downgrading, the fee will come off, so I went ahead and did that. But folks may need to be aware, if you definitely want to keep the account, downgrading after the fee posts may not get you out of the fee.
I called again today after noticing that the fee for the Venture card was still showing on my account, and was told that they weren't going to reverse it! I.e. that switching to a no-fee card on April 3 would't get me out of the annual fee for the Venture card that posted in my statement on March 28. Can that be correct? If so, outrageous.
Does that track with what anyone else is experiencing -- has anyone who switched to a no-fee card seen their fee come off?
Update: I did call back and confirm that if I cancel instead of downgrading, the fee will come off, so I went ahead and did that. But folks may need to be aware, if you definitely want to keep the account, downgrading after the fee posts may not get you out of the fee.
Apr 18, 2012, 6:58 am
#197
Join Date: Apr 2008
Posts: 389
Aha -- thanks, evidently I should have read one page further back in this thread than I did before posting (this is clear from earlier posts but not the last 3-4 pages worth). In any event, I'm not expressing any surprise or outrage that my options were not "negotiable", or dismay that the waiver to keep the card wasn't offered to me -- just surprise that the downgrade once the fee has posted does not avoid the fee. The CSR that I spoke with was definitely not clear on that point and, it seems to me in hindsight, was happy to say as little as possible so as to leave me with the opposite impression; otherwise I would've just canceled in the first place.
Apr 18, 2012, 12:03 pm
#198
Join Date: May 2011
Posts: 193
While I am not surprised at the non-refundable fees for a downgrade, I am
curious to figure out the logic for the system generated fee waiver.
So far, it has been offered to both high & low users, 1 year and > 1 year old accounts. Not sure if credit score plays a role. Perhaps paying in full vs.
carrying a balance ??
curious to figure out the logic for the system generated fee waiver.
So far, it has been offered to both high & low users, 1 year and > 1 year old accounts. Not sure if credit score plays a role. Perhaps paying in full vs.
carrying a balance ??
Apr 20, 2012, 2:33 pm
#199
Join Date: Jul 2009
Posts: 847
While I am not surprised at the non-refundable fees for a downgrade, I am
curious to figure out the logic for the system generated fee waiver.
So far, it has been offered to both high & low users, 1 year and > 1 year old accounts. Not sure if credit score plays a role. Perhaps paying in full vs.
carrying a balance ??
curious to figure out the logic for the system generated fee waiver.
So far, it has been offered to both high & low users, 1 year and > 1 year old accounts. Not sure if credit score plays a role. Perhaps paying in full vs.
carrying a balance ??
Apr 21, 2012, 9:01 pm
#200
Join Date: Oct 2007
Location: Suburban Chicago
Programs: United Mileage Plus; American Advantage; Marriott Rewards; Hilton Honors
Posts: 577
Called Capital One a couple of days ago after the fee had posted. Was put on hold for about two minutes, after which the CSR came back and said that they could issue a statement credit. Have now confirmed that the $59 credit has been issued.
Apr 24, 2012, 9:55 pm
#201
Join Date: Jul 2009
Location: RDU
Programs: Delta silver, HH silver, IHG platinum, SPG gold, AMEX platinum
Posts: 400
Same experience here. Also took only a couple minutes. I guess I'll have to keep this card another year. Oh how I missed my 1K coin purchase to meet the minimum spend for this card and spending the $1800 in Hyatt certs in Hawaii during their promo. Thanks C1!
Apr 25, 2012, 3:51 pm
#202
Join Date: Jun 2011
Posts: 22
I was not as fortunate with my call. CS said I did not have an offer for waiver on my account. It's surprising to me since I spent probably $50K on this card easily. Perhaps they think I can afford another measly $59? They offered to downgrade my card, so I shot back and said why would I do that if the $59 charge stands, which they just stammered 'yea'. Going back to using my SPG card, at least I get recognized for spending on that.
Apr 30, 2012, 7:54 pm
#203
Join Date: May 2011
Posts: 193
I was not as fortunate with my call. CS said I did not have an offer for waiver on my account. It's surprising to me since I spent probably $50K on this card easily. Perhaps they think I can afford another measly $59? They offered to downgrade my card, so I shot back and said why would I do that if the $59 charge stands, which they just stammered 'yea'. Going back to using my SPG card, at least I get recognized for spending on that.
They offered to keep the fee and downgrade me to 1.25 miles card.
Cancelled the card today which should get the fee refunded as it is still less
than 30 days since the fee posted.
May 7, 2012, 1:00 pm
#204
Join Date: Oct 2006
Posts: 175
No dice on a fee waiver for me. Didn't use the card much but they also said I had to apply to change to another card...no downgrading. I wouldn't do it anyway if they were going to keep the fee like they have told others...my fee posted a few weeks ago.
May 11, 2012, 3:29 am
#206
Join Date: Aug 2003
Location: Seattle, WA. USA
Programs: MR, AA, UA, DL, AVIS and growing
Posts: 1,172
Capital One advised me that I CANNOT get the annual fee waived under any circumstances:
'1. Not canceling the card
2. NOT transfering to a NO FEE card
Every bank I have dealt with in the past was willing to cancel annual fee IF you closed the account but Capital One refuses to cooperate.
'1. Not canceling the card
2. NOT transfering to a NO FEE card
Every bank I have dealt with in the past was willing to cancel annual fee IF you closed the account but Capital One refuses to cooperate.
This sounds like the best approach, particularly if you have unused points and don't use the card very frequently.
Keep in mind that points can be transferred between accounts without incurring a fee. I transferred 80,000 points a couple weeks ago and had no trouble.
I plan to combine the two accounts in our household, cancel one card, and downgrade the other to a no fee card.
Keep in mind that points can be transferred between accounts without incurring a fee. I transferred 80,000 points a couple weeks ago and had no trouble.
I plan to combine the two accounts in our household, cancel one card, and downgrade the other to a no fee card.
May 11, 2012, 8:46 pm
#207
Join Date: May 2011
Posts: 193
Capital One advised me that I CANNOT get the annual fee waived under any circumstances:
'1. Not canceling the card
2. NOT transfering to a NO FEE card
Every bank I have dealt with in the past was willing to cancel annual fee IF you closed the account but Capital One refuses to cooperate.
'1. Not canceling the card
2. NOT transfering to a NO FEE card
Every bank I have dealt with in the past was willing to cancel annual fee IF you closed the account but Capital One refuses to cooperate.
Use the online chat if the phone csr is not so cooperative
Jun 15, 2012, 11:46 am
#208
FlyerTalk Evangelist
Join Date: Jun 2001
Location: Redondo Beach, Ca
Posts: 30,777
Wait, what??? I have made several phone calls to Capital One & NO DICE on waiving the fee...none, nada, zip. Are you saying that you got the fee waived by online chat?
Jun 18, 2012, 11:13 pm
#209
Join Date: Jun 2011
Location: PEK
Programs: SPG Plat, A3 *A Gold, HH Gold, IHG Plat
Posts: 392
Idea to refund Cap1 Venture Rewards Annual Fee.
Well, it appears like it is about 1 year since I've started on this points addiction as I'm starting to see the first wave of annual fees showing up on the first cards I applied for last year.
One of them was the Capital One Venture Rewards card with the $59 annual fee.
After I saw the fee show up, I called customer service and went through the following steps:
1) Refund the fee - The nice lady told me that after the fee had been applied there was no way to refund the fee.
2) Downgrade to $0 annual fee card - She said she can do this, though the annual fee still would not be refunded.
3) Retention department - She said she had talked to the retention department and they didn't have anything else to say to me.
4) Manager - She did transfer me to a manager.
The manager repeated exactly what the agent said. He also mentioned about the fact that I had only used the card at the beginning and hadn't used it since them. [In my mind implying that I just got the card for the sign-up bonus, and nothing else and now they don't need me as a customer since I won't be using the card. Could be some truth to that.
]
I remained calm and thought about hanging up and calling back, though it sounded like they kept good records. Then I remembered a valid, and true reason why I stopped using the Cap1 card. The fact that it used to be unable to sign-up for automatic payments online. I remember asking about that last year and they said I would have to send in via US Mail to enroll and include a blank check. Well I don't have checks and don't do US Mail so without automatic payments, I'm not going to use the card.
They have just recently allowed online enrollment in automatic payments and I explained this to the manager. Since this is a factual and believable reason to not use the card, he did agree to downgrade the card and refund the $59 annual fee.
At least this should help the credit file account aging. Who knows, maybe I'll even use the card.
One of them was the Capital One Venture Rewards card with the $59 annual fee.
After I saw the fee show up, I called customer service and went through the following steps:
1) Refund the fee - The nice lady told me that after the fee had been applied there was no way to refund the fee.
2) Downgrade to $0 annual fee card - She said she can do this, though the annual fee still would not be refunded.
3) Retention department - She said she had talked to the retention department and they didn't have anything else to say to me.
4) Manager - She did transfer me to a manager.
The manager repeated exactly what the agent said. He also mentioned about the fact that I had only used the card at the beginning and hadn't used it since them. [In my mind implying that I just got the card for the sign-up bonus, and nothing else and now they don't need me as a customer since I won't be using the card. Could be some truth to that.
]I remained calm and thought about hanging up and calling back, though it sounded like they kept good records. Then I remembered a valid, and true reason why I stopped using the Cap1 card. The fact that it used to be unable to sign-up for automatic payments online. I remember asking about that last year and they said I would have to send in via US Mail to enroll and include a blank check. Well I don't have checks and don't do US Mail so without automatic payments, I'm not going to use the card.
They have just recently allowed online enrollment in automatic payments and I explained this to the manager. Since this is a factual and believable reason to not use the card, he did agree to downgrade the card and refund the $59 annual fee.
At least this should help the credit file account aging. Who knows, maybe I'll even use the card.