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]
Feb 14, 2024, 12:16 pm
#437
Join Date: Nov 2023
Location: Madison, WI
Programs: TK Elite, JGC Sapphire, ITA Premium, Marriott Titanium, Hyatt Globalist, Hilton Diamond, IHG Diamond
Posts: 35
Well, I can assure you I got the full $395 refund. It's either Cap1 changed the rule again or that rep didn't know about the updated rule. You might as well just HUACA.
No, I didn't ask that question nor was told by the rep. (Forgot to quote you so I replied again)
I personally do not know unfortunately. I never really saw any printed language regarding annual fee refund for downgrade/cancelation with any banks.
I personally do not know unfortunately. I never really saw any printed language regarding annual fee refund for downgrade/cancelation with any banks.
Last edited by mia; Feb 14, 2024 at 12:26 pm Reason: Combine consecutive replies.
Feb 14, 2024, 1:01 pm
#438
Join Date: Feb 2024
Posts: 16
I have called many times. every time they tell me it's in the T&C that theres no refund even if you downgrade. Really a bummer because i have no use for this card anymore. And the venture one is showing up as a downgrade option. Any tips
Last edited by mia; Feb 14, 2024 at 1:32 pm Reason: Formatting
Feb 14, 2024, 1:39 pm
#439
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
Feb 14, 2024, 1:41 pm
#440
Join Date: Feb 2024
Posts: 16
I really don’t want to do that. It hurts my credit and it’s a sizable chunk of my personal credit line amt. I’d rather swallow the loss.
also, can’t believe it but the downgrade button just disappeared from my account.
Cap1 lost its appeal even more today with the price hike of Turkish miles.
Mar 1, 2024, 12:37 pm
#441
Join Date: Jan 2014
Location: TYS/BNA/ATL
Programs: UR, TYP, MR, C1, AA, UA, WN, BA, AS, AV, AC, Choice, Hyatt, IHG, Hilton, Wyndham, Marriott
Posts: 1,980
I really don’t want to do that. It hurts my credit and it’s a sizable chunk of my personal credit line amt. I’d rather swallow the loss.
also, can’t believe it but the downgrade button just disappeared from my account.
Cap1 lost its appeal even more today with the price hike of Turkish miles.
also, can’t believe it but the downgrade button just disappeared from my account.
Cap1 lost its appeal even more today with the price hike of Turkish miles.
I'm still thinking to wait for 10k anniversary miles, then downgrade.
Mar 12, 2024, 8:12 pm
#442
Join Date: Jan 2014
Location: TYS/BNA/ATL
Programs: UR, TYP, MR, C1, AA, UA, WN, BA, AS, AV, AC, Choice, Hyatt, IHG, Hilton, Wyndham, Marriott
Posts: 1,980
I just talked to Cap One rep. I want to update a significant information for y'all.
Originally, I was planning to cancel the card as I heard from all the DPs saying that Cap One doesn't do prorated refund and you have to cancel within 30 days to get your AF back.
This morning I am here with the great news! Now Capital One will prorate annual fee if you perform a product change. In my case, I double checked with the rep that upgrading my Venture X to Venture One will result in prorating my $ 395 AF that hits on November 20th. Per her source, this prorate thing on product change was recently implemented by Capital One so that's why previously when people ask to get annual fee back, they can only cancel to get AF refunded within 39 days after annual fee hits.
Timeline
Nov 16th, used up my second year $300 Cap One Travel Credits
Nov 20th, $395 AF hit
Dec 19th, 10,000 Anniversary Venture Miles posted
Dec 19th, Called to cancel, but did product change to VentureOne instead and was promised on prorated refund (very likely I am probobly still got charged for $395/12 = $33 for a month worth of AF)
Originally, I was planning to cancel the card as I heard from all the DPs saying that Cap One doesn't do prorated refund and you have to cancel within 30 days to get your AF back.
This morning I am here with the great news! Now Capital One will prorate annual fee if you perform a product change. In my case, I double checked with the rep that upgrading my Venture X to Venture One will result in prorating my $ 395 AF that hits on November 20th. Per her source, this prorate thing on product change was recently implemented by Capital One so that's why previously when people ask to get annual fee back, they can only cancel to get AF refunded within 39 days after annual fee hits.
Timeline
Nov 16th, used up my second year $300 Cap One Travel Credits
Nov 20th, $395 AF hit
Dec 19th, 10,000 Anniversary Venture Miles posted
Dec 19th, Called to cancel, but did product change to VentureOne instead and was promised on prorated refund (very likely I am probobly still got charged for $395/12 = $33 for a month worth of AF)
Mar 14, 2024, 6:15 pm
#443
Join Date: Feb 2019
Programs: DL AA Hilton Hyatt
Posts: 49
I noticed that my $300 travel credit was available 1 month before my annual fee date. I quickly used up my travel credit and "upgraded" to venture one. I ended up receiving approx $33 as prorated annual fee refund.
Mar 24, 2024, 8:21 am
#444
Join Date: Nov 2023
Location: Madison, WI
Programs: TK Elite, JGC Sapphire, ITA Premium, Marriott Titanium, Hyatt Globalist, Hilton Diamond, IHG Diamond
Posts: 35
As I mentioned at earlier post on January 14th, the refund was shown on December 19th and I paid the full statement balance including the annual fee that was posted in November on December 15th.
Apr 1, 2024, 8:08 pm
#445
Join Date: Jan 2014
Location: TYS/BNA/ATL
Programs: UR, TYP, MR, C1, AA, UA, WN, BA, AS, AV, AC, Choice, Hyatt, IHG, Hilton, Wyndham, Marriott
Posts: 1,980
Apr 11, 2024, 1:02 pm
#447
Join Date: Jan 2014
Location: TYS/BNA/ATL
Programs: UR, TYP, MR, C1, AA, UA, WN, BA, AS, AV, AC, Choice, Hyatt, IHG, Hilton, Wyndham, Marriott
Posts: 1,980
My AF posted on March 11th, today it's April 11th, still no anniversary miles posted. I'm on a fence to downgrade the card.
Apr 14, 2024, 10:18 am
#448
Join Date: Apr 2002
Posts: 2,949
I was told by a rep. that one must downgrade before the annual fee posts, otherwise there is no refund on the annual fee. She did say that I can cancel and receive a fee refund within 30 days. It sounds like this may not be the case based on what I am seeing posted here.
Apr 14, 2024, 10:45 am
#449
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
No need to rely on anecdotal reports or telephone agents. The policy is printed on every paper/pdf statement
How can I Avoid Membership Fees? If a Renewal Notice is printed on this statement, you may
avoid paying an annual membership Fee by contacting Customer Service fewer than 40 days after
the annual membership Fee was assessed to request that we close your account. To avoid paying
a monthly membership Fee, close your account and we will stop assessing your monthly
Membership Fee
avoid paying an annual membership Fee by contacting Customer Service fewer than 40 days after
the annual membership Fee was assessed to request that we close your account. To avoid paying
a monthly membership Fee, close your account and we will stop assessing your monthly
Membership Fee
Apr 18, 2024, 6:23 pm
#450
Join Date: Dec 2008
Location: NYC
Programs: BA Gold, HH Diamond, Marriott Gold
Posts: 1,261
There has been only 1 DP here about AF being refunded after product change once AF is billed. Historically, C1 has not refunded or prorated the fee for PC. I have few months before I have to decide on P2's renewal.