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 18, 2012, 8:58 pm
#121
Join Date: Oct 2006
Posts: 143
I can confirm that Capital One will not refund the annual fee if has already been billed unless the account is closed. Even if the account is converted to another product (cashback, etc.), the fee cannot be refunded. I've taken this to a more senior level at C1 without success. It appears that nobody the authority to remove this fee; it needs to be offered by the computer.
This is indeed a different practice than Citi and Chase. I'm on the fence about paying the fee. I'd like to keep my relationship with C1 open (and I still have lots of points), but it may just make sense to redeem the points now for gift cards.
If anyone finds a way around this, please post. Thanks.
This is indeed a different practice than Citi and Chase. I'm on the fence about paying the fee. I'd like to keep my relationship with C1 open (and I still have lots of points), but it may just make sense to redeem the points now for gift cards.
If anyone finds a way around this, please post. Thanks.
Mar 19, 2012, 2:25 pm
#122
Join Date: Jun 1999
Posts: 217
Once the fee was posted they would not refund the annual fee for me. The only way to avoid the fee and keep my points (110k) was to open a new 1.25pts/$ card. Once I get the new card I transfer my points to the new card and close the old one. Annual fee will be refunded.
jb
jb
Mar 20, 2012, 9:02 am
#124
Join Date: Aug 2011
Location: On the Lake USA
Programs: Marriott Ambassador, Hilton Diamond because they have nothing higher
Posts: 523
Annual fees posted three days ago. Called last night on both my wife's card and mine. Reps offered to waive the $59 annual fee on both cards this year since we've both been good customers. Data points: I charged 21k on my card last year, and my wife charged 16k last year on her card. Also, last week when I called in ADVANCE of the fee posting, the only option was to change cards to the no annual fee, 1.25 pts/$ option. It seems that the fee must first post, and then there's some wiggle room. Good luck to the rest of you who enjoy this card. I know for my Priceline hotel spends, this card provides great redemption value (and extra bonus points via their Perk Central portal).^
Mar 20, 2012, 11:27 am
#125
Join Date: May 2011
Posts: 193
It must depend on how much you have spent on the card. I called yesterday for after the 59 posted and they let me go with no offer of down sizing or changing cards but I didn't ask for another card type. I even said are you sure you don't want to waive it and they said they can't. I am sure YMMV as you guys got that with big spends but I only put about $5000 on the card for the whole year since I have so many cards.
My annual fee date is coming up and called last week and was told "no fee waiver".
As for annual fee refund once it is billed, here is my conclusion after reading the last few posts. It appears that refund is only possible if you close the account out and do not upgrade/convert to any other C1 account.
A way around this would be to - apply for a new card, if approved then move over the points and close the venture card for a fee refund (30 days ?).
Not sure if this will be a new credit inquiry.
Mar 20, 2012, 12:51 pm
#127
Join Date: May 2008
Programs: AA PLT 2MM
Posts: 2,026
...
As for annual fee refund once it is billed, here is my conclusion after reading the last few posts. It appears that refund is only possible if you close the account out and do not upgrade/convert to any other C1 account.
A way around this would be to - apply for a new card, if approved then move over the points and close the venture card for a fee refund (30 days ?).
Not sure if this will be a new credit inquiry.
As for annual fee refund once it is billed, here is my conclusion after reading the last few posts. It appears that refund is only possible if you close the account out and do not upgrade/convert to any other C1 account.
A way around this would be to - apply for a new card, if approved then move over the points and close the venture card for a fee refund (30 days ?).
Not sure if this will be a new credit inquiry.
My annual fee billed, then I called in saying I didn't want to pay it and would they consider waiving it. They said no, but, I could downgrade to the venture one card, and they'd reverse the fee. Ultimately I never confirmed if it in fact would happen because I told the CSR 'I'm only rarely using the card now, and, if the reward goes down to 1.25 points per dollar instead of 2, it's guaranteed I'll never use the card again, so, might as well close it'. Which is what she did. Fee was obviously reversed, but, in my case it would be for closing the account, not downgrading, despite the fact they did say the fee would be reversed if I downgraded.
I had -794 'Venture Miles' in the account when I closed it, so, didn't worry about transferring them, obviously
My business account has ZERO, so, will close it too when that fee bills (unless they waive that fee of course -- which is doubtful).
Your method to save your point by opening a new account then transferring from the old to that new account and finally closing the old and hoping for a refund of the annual fee 'might' work, but, that's untested. Don't have a business account with fee billing later that you can use? Or spouse? Better yet, nothing on your statement(s) that you can call 'travel' and then get the 1cpm reimbursement rate? The phone reps at C1 have been quite generous with what they'll call 'travel'. I was able to get Disneyland passes and parking reimbursed as 'travel', likewise the meals while there. Also paid my annual fee for the Citi Executive card using the venture points -- granted in a round about way; Bought AC pass with C1 card prior to getting the Executive Card, used the venture miles to get reimbursed for the cost, after getting Executive Card got a prorated refund (very fair pro-rate too actually) of AC pass back to C1 card, this was also how I ended up with negative venture mile balance.
Mar 20, 2012, 1:41 pm
#128
Join Date: Mar 2012
Posts: 3
Hi everyone,
first post here after lurking for a while.
I just got off the phone with C1 and requested a AF waiver or retention bonus. This had been my primary card and I have spent well over $30k on this card. They denied me a waiver saying the AF had already posted and it couldn't be reversed. the CSR also stated that even if I converted to the V1 card, the fee wouldn't be reversed and I would still need to pay it. I don't know if I was just speaking to a new employee or they've changed their strategy since the other posts but everyone should double check if they're considering doing the switch. as for me, I'm going to use the card for the next year since there's no reversing the fee then cancel before my next anniversary. I guess C1 doesn't care to keep me as a customer.
first post here after lurking for a while.
I just got off the phone with C1 and requested a AF waiver or retention bonus. This had been my primary card and I have spent well over $30k on this card. They denied me a waiver saying the AF had already posted and it couldn't be reversed. the CSR also stated that even if I converted to the V1 card, the fee wouldn't be reversed and I would still need to pay it. I don't know if I was just speaking to a new employee or they've changed their strategy since the other posts but everyone should double check if they're considering doing the switch. as for me, I'm going to use the card for the next year since there's no reversing the fee then cancel before my next anniversary. I guess C1 doesn't care to keep me as a customer.
Mar 20, 2012, 9:19 pm
#130
Join Date: Sep 2011
Posts: 211
Mar 20, 2012, 10:51 pm
#131
Join Date: Jun 2004
Posts: 90
Got the $59 reversed -- 2 different ways
Had two cards and got both reversed. The first was my card and I called it in. They would not budge but a 2nd CSR spent a lot of time on the phone with me---great guy named Landy...best CSR I ever had anywhere!---and he worked with his supervisor to reverse the charge. Probably took 20 mins. Charges show as reversed on my online account.
2nd card was my wifes and I did this via SM. First, they replied and said I had to call it in to cancel but , as others on this thread suggested--I wrote back and insisted to do it via SM. They agreed and it showed as reversed just 3 days later.
What a pain but it all worked out.
2nd card was my wifes and I did this via SM. First, they replied and said I had to call it in to cancel but , as others on this thread suggested--I wrote back and insisted to do it via SM. They agreed and it showed as reversed just 3 days later.
What a pain but it all worked out.
Mar 21, 2012, 5:49 am
#132
Join Date: Apr 1999
Location: Northport, NY
Posts: 1,732
me: Hi, I just noticed that the $59 member fee posted to my account today. I was wondering if there is anything you can do for me. Honestly, there are lots of cards out there with no fee.
csr: Lets see what I can do........ OK, I can give you a one time $59. credit. You will see it post in three to five business days. Is there anything else I can help you with Mr. Schutzee?
me: No, that's it.
csr: I see you have xxx,xxx points. Congratulations, and thank you for your business.
Mar 21, 2012, 7:46 am
#133
Join Date: Sep 2004
Location: Tampa, FL
Posts: 239
Got mine reversed as well - took about 20 mins on the phone as he first of all said they could not reverse the fee if I kept the card so I asked to switch to the no fee cash card, we went thru the switch process and then he told me I'd still have to pay the annual fee as it had already been billed so I said there's no point then - I may as well keep the 2 points per $ card. I then asked what it would take to have the fee reversed and that I had a C1 money market a/c with a whole chunk-o-change in it and he came back that just as a one time courtesy they would reverse the fee and reminded me to call back next year b4 the annual fee hits and I would be able to switch to a no fee card if I wanted to. One satisfied customer (and I still have over 100k C1 points in my account - gotta love it).
Mar 21, 2012, 9:13 am
#134
Join Date: Jun 2010
Posts: 99
Called yesterday and got a very nice woman who could not waive the fee for me, but said she would be glad to do it if the computer would let her.
Called again today and the man was able to waive the fee right away. He made it clear this was a one-time thing. They would not waive it next year.
I put about $12k on the card in the last year.
Called again today and the man was able to waive the fee right away. He made it clear this was a one-time thing. They would not waive it next year.
I put about $12k on the card in the last year.
Mar 21, 2012, 5:02 pm
#135
Join Date: Jul 2007
Programs: *Wood Gold, Marriott Plat, HH Gold, National Exec Elite
Posts: 92
Data Point :
Annual fee billed on 3/10 and Payment due on 4/8.
Total spend last year : ~7.5K
Called in first time today to check if they can do anything about the annual fee. CSR said she will check what she can do. Came back and said that they can waive the fee for this year. I gladly accepted the offer! Took less than 2 minutes!!
Annual fee billed on 3/10 and Payment due on 4/8.
Total spend last year : ~7.5K
Called in first time today to check if they can do anything about the annual fee. CSR said she will check what she can do. Came back and said that they can waive the fee for this year. I gladly accepted the offer! Took less than 2 minutes!!