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]
Mar 5, 2013, 3:14 pm
#226
Join Date: Apr 2012
Posts: 38
Capital one venture
Approaching a year since I got the cap one venture card and I plan on canceling before annual fee hits. I have about 137k points I need to use first. What is the best way to use all the points at full value. I thought I could purchase a 4 seasons gift card but this would not be classified as travel since a third party processes the cards. Any options out there. If I book some flights I know I will come up short of the 137k and don't want to get less than 2 cents value per point. Thanks!
Mar 5, 2013, 3:28 pm
#227
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
Mar 6, 2013, 10:10 am
#229
Join Date: Sep 2012
Posts: 212
This is not retention related, but I intend to keep the card when it comes up for renewal (though I will ask for reduced fee). Worth $59 to me. I earn 7X at Trader Joe's until the end of the month with their current promo (2x regular spend plus 5x bonus points). The promo works on gift cards, and I am stocking up for the rest of the year. There are other promotions that are useful if you register for them on their website. And these points are very useful for travel expenses (airport parking, cabs) other than flights and lodging (I use UR and MR for those).
Mar 6, 2013, 10:13 am
#230
Join Date: Sep 2012
Posts: 212
Approaching a year since I got the cap one venture card and I plan on canceling before annual fee hits. I have about 137k points I need to use first. What is the best way to use all the points at full value. I thought I could purchase a 4 seasons gift card but this would not be classified as travel since a third party processes the cards. Any options out there. If I book some flights I know I will come up short of the 137k and don't want to get less than 2 cents value per point. Thanks!
Mar 18, 2013, 8:08 am
#231
Join Date: Sep 2006
Posts: 524
Just got dinged with the annual fee. They will not refund it even if I switch to a no-fee card since I got a waiver last year. Boo, CapitalOne. Every other major issuer is great about refunding the fee if you call right after you get hit with it.
At this point I'm not going to take any chances and I will just convert to a free card and eat the $59. Not worth keeping for another year since the Fidelity Amex 2% Cash Back is better than the Venture in every way (except FX fees).
CapitalOne is a pretty awful issuer to deal with in general. They seem to have a flat-out no credit limit increase policy even with their highest-FICO customers, which makes no sense whatsoever. Good riddance.
Yes. I am bitter.
At this point I'm not going to take any chances and I will just convert to a free card and eat the $59. Not worth keeping for another year since the Fidelity Amex 2% Cash Back is better than the Venture in every way (except FX fees).
CapitalOne is a pretty awful issuer to deal with in general. They seem to have a flat-out no credit limit increase policy even with their highest-FICO customers, which makes no sense whatsoever. Good riddance.
Yes. I am bitter.
Mar 18, 2013, 11:54 am
#232
FlyerTalk Evangelist
Join Date: Nov 2002
Location: BOS, MHT
Programs: AA ltg, B6, DL, UA, AS, SPG/Marriott Plt, HH, Hyatt
Posts: 10,052
my wife still had her card and last year got the fee waived. It is up for renewal now so she cancelled it. She did so by mail but C1 did not make that easy! She had to write in twice and send a copy of her DL and other id to get it done. Now no more C1. It was fun for that while though and all points went to good uses.
Mar 18, 2013, 7:31 pm
#233
Join Date: Nov 2006
Location: Times Square
Programs: SPG Gold, AAdvantage
Posts: 1,397
This card is going to get axed from my wallet now. Back in February, the phone reps had told me my fee would not hit until March 31st. Well it hit March 15th, 2013. Online rep clarified that it will hit again on March 31st, 2014 so technically the phone rep was only off by 1+ year.
Online rep offered nothing to waive the fee, only to downgrade to the Venture One card at 1.25 mi/dollar earning. Spent $6300 last year, probaby $10K the year before with lots of international purchases in 2011. Fee was not waived in 2012.
I am planning to load up on the Trader Joe's gift cards and buy just enough Metro Cards to cash out all the points and close this card on April 1st to get my fee back.
The Capital One bank down the street from me loves me. They pitch me CC's all the time. I will just roll the dice and try again with them in the future. Meh to Capital One CC department.
Now I think I will give the world of Chase a try next as I need a decent Visa, especially a business Visa, in my wallet.
Online rep offered nothing to waive the fee, only to downgrade to the Venture One card at 1.25 mi/dollar earning. Spent $6300 last year, probaby $10K the year before with lots of international purchases in 2011. Fee was not waived in 2012.
I am planning to load up on the Trader Joe's gift cards and buy just enough Metro Cards to cash out all the points and close this card on April 1st to get my fee back.
The Capital One bank down the street from me loves me. They pitch me CC's all the time. I will just roll the dice and try again with them in the future. Meh to Capital One CC department.
Now I think I will give the world of Chase a try next as I need a decent Visa, especially a business Visa, in my wallet.
Apr 10, 2013, 7:23 pm
#234
Join Date: Mar 2013
Posts: 25
Hi Sent: I just checked the perk central website today to look at the Trader Joe's 7x bonus points offer. I'm pretty sure it specifically states in the offer details that you don't earn miles on gift card purchases. Did I miss something somewhere? I'm a newbie here and I'm not familiar with all the rules so maybe I missed an offer somewhere? Thanks for your help.
Apr 10, 2013, 9:42 pm
#235
Join Date: Sep 2012
Posts: 212
Hi Sent: I just checked the perk central website today to look at the Trader Joe's 7x bonus points offer. I'm pretty sure it specifically states in the offer details that you don't earn miles on gift card purchases. Did I miss something somewhere? I'm a newbie here and I'm not familiar with all the rules so maybe I missed an offer somewhere? Thanks for your help.
Apr 11, 2013, 2:50 pm
#236
Join Date: Mar 2013
Posts: 25
Thank You Jetsfan. I did see about the 7x points for purchases, but I was wondering specifically about 'Sent' buying gift cards as a purchase.
I think it states that gift cards don't count towards rewards?
I thought maybe I missed somewhere that you could buy gift cards and have them count towards points. I hope so - that would be great.
I think it states that gift cards don't count towards rewards?
I thought maybe I missed somewhere that you could buy gift cards and have them count towards points. I hope so - that would be great.
Apr 13, 2013, 10:45 pm
#237
Join Date: Sep 2012
Posts: 212
Thank You Jetsfan. I did see about the 7x points for purchases, but I was wondering specifically about 'Sent' buying gift cards as a purchase.
I think it states that gift cards don't count towards rewards?
I thought maybe I missed somewhere that you could buy gift cards and have them count towards points. I hope so - that would be great.
I think it states that gift cards don't count towards rewards?
I thought maybe I missed somewhere that you could buy gift cards and have them count towards points. I hope so - that would be great.
Apr 15, 2013, 9:53 am
#238
Join Date: Nov 2011
Location: Iowa
Posts: 733
Capital One Venture: I'd like to close account
Hi. My annual (first year) $59 fee is due.
I don't use the card much. I've put most of my spending on the Chase Sapphire Preferred.
I have a couple of questions about closing my Capital One Venture card.
1) Will I lose the miles that I have in my account when I close the account?
2) If I will lose those miles that I have accumulated, is there anyplace to transfer them to so I can use them later? Or a strategy that will allow me to use the miles after the account is closed?
3) Do people churn this card? Time frame?
Thanks.
I don't use the card much. I've put most of my spending on the Chase Sapphire Preferred.
I have a couple of questions about closing my Capital One Venture card.
1) Will I lose the miles that I have in my account when I close the account?
2) If I will lose those miles that I have accumulated, is there anyplace to transfer them to so I can use them later? Or a strategy that will allow me to use the miles after the account is closed?
3) Do people churn this card? Time frame?
Thanks.
Apr 15, 2013, 11:33 am
#239
Join Date: Mar 2006
Location: RDU
Posts: 812
Hi. My annual (first year) $59 fee is due.
I don't use the card much. I've put most of my spending on the Chase Sapphire Preferred.
I have a couple of questions about closing my Capital One Venture card.
1) Will I lose the miles that I have in my account when I close the account?
2) If I will lose those miles that I have accumulated, is there anyplace to transfer them to so I can use them later? Or a strategy that will allow me to use the miles after the account is closed?
3) Do people churn this card? Time frame?
Thanks.
I don't use the card much. I've put most of my spending on the Chase Sapphire Preferred.
I have a couple of questions about closing my Capital One Venture card.
1) Will I lose the miles that I have in my account when I close the account?
2) If I will lose those miles that I have accumulated, is there anyplace to transfer them to so I can use them later? Or a strategy that will allow me to use the miles after the account is closed?
3) Do people churn this card? Time frame?
Thanks.
2) No place to transfer them to. You could convert to the no-annual fee version to keep your points intact.
3) Doubtful. Even if possible, low sign-up bonus and 3 credit inquiries (one for each bureau) are strong deterrents.