Capital One® VentureOne® Rewards Credit Card or ????/

Discussion in 'General Discussion | Credit Cards' started by Teritrips, Oct 20, 2015.  |  Print Topic

  1. Teritrips

    Teritrips Member

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    So the goal is 2018/2019 - Asia Trip - (Singapore, Shanghai, Bali) Australia
    Trying to amass as many points as I can to make this trip (flight/hotel) virtually free.
    From what I can see that Capital One® VentureOne® Rewards Credit Card
    is the best card to accomplish this task because I can get 40K sign up bonus, no foreign transaction fees, 2x on any purchase, chip in card, (so far) good customer service, any airline/hotel etc.
    So what am I missing?
    Is it too good to be true?
    I've looked at the other cards and they seem restrictive with hotels, airlines etc.
    Your advice would be greatly appreciated especially if you did a major search and did NOT choose this card. I'd love to know why you didn't.
     
  2. edekba

    edekba Gold Member

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    First point, the Venture Points are only worth 1 cent a piece. Price out the flight and you'll see how many points you'll need to make the flight free.

    Then see the award charts to see how many miles you'll need to redeem. Example: AA requires 32.5k to 37.5k one way to Asia/Australia (You dont have to fly AA, but you can also fly Qantas/Cathay/JAL/etc). UA charges between 35k - 40k one way in Economy (UA partners with a lot other airlines as well). Granted using miles is a more restrictive in terms of dates and number of seats available for redemption ... so you should be flexible know when to start looking/booking etc.

    Thus if you think paid flights will be under $800 (let's say $900 to include taxes/fees) then yes the Venture would be a good choice for your flights.

    Intra Asia flights shouldn't be too expensive with the plethora of Low Cost Carriers that region has so Venture points would be good to offset those costs.

    Hotels totally different beast. Venture points are good since they give you flexibility but getting a place to sleep without being tied down to a chain hotel etc. But sometimes those hotel points can be a bargain. Again price out some prices to see how many points you need to offset using Venture and compare using Hilton/IHG/Marriott points. Hotel Hustle, created by @Wandering Aramean would be a good place to start to see the redemption value.
     
  3. iolaire
    Original Member

    iolaire Gold Member

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    I would think that you want airlines miles cards. The venture card is a fixed ratio card so as @edekba says it will only be worth say $800 but say one AA card at 50,000 AA miles will get you one-way to Asia (or business class for 55,000 miles and the right zone).
     
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  4. Teritrips

    Teritrips Member

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    Thanks Edekba and Iolaire for your quick responses and your amazing advice.
    The reason why I chose this card was that I thought with the points left over or if I did not have enough points, I could use them towards any hotel for my trip. Also if I get an airline card then I'm stuck with just that airline and as you mentioned they have limited availability. Does that sound right?
    I do have another question since I'm new to this whole points party. Let's say it takes 120,000 points (approx $1200) to fly the airline I would like to use, does that mean that with the Cap 1 Venture Rewards Card (2 miles for every dollar $1 spend) that would mean that I would have to spend $60,0000 or 60,000 points or is there a math equation that I am missing?
     
  5. edekba

    edekba Gold Member

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    Good thought, but if you got some sort of transferable currency (Chase UR, Amex MR, Citi TY (to a lesser degree), or SPG Amex) then you could transfer the points to whatever program works for you (that partners with the transferable currency of course.)

    If you need 120,000 Venture Miles, you need to spend $60,000 not including the sign on bonus of course.
     
  6. Teritrips

    Teritrips Member

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    Not including the sign on bonus? So what is the sign on bonus used for?
     
  7. edekba

    edekba Gold Member

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    Well you get 40k from the Signon bonus; so you'll need an additional 80k points which is $40k in spend.

    $60k in spend does not account for the Sign-On Bonus is all i'm saying. (Incase you don't sign up for this now and you get one with a higher/lower bonus)

    ---
    I just noticed you stated VentureOne which is not a 2% but a 1.25% back & 20k vs 40k bonus.
    Why not just get the Citi DoubleCash, also a NAF card but you get 2% back in cash.
     
  8. Teritrips

    Teritrips Member

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    Oh okay. Glad we got that straight. I'm new to this game but I'm learning lots with this forum! Thank you.

    RE: Citi DoubleCash - there are no travel rewards
    RE: NAF - what does the acronym mean?
     
  9. edekba

    edekba Gold Member

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    NAF = No Annual Fee
    Capital One Venture Points are the same as cash back. It's just marketing. You use these points to offset statement credits for the travel you bought. That's why there isn't any blackout dates etc. Its the same as cashback rewards, you just gotta "save" your cashback towards travel, if that makes sense. Thus .. .2% (NAF) is mathematically better than 1.25% (NAF) or 2% ($59 AF). Only benifit would be No FoRex but since you're not leaving the country till 2018 that's fine.
     
  10. Teritrips

    Teritrips Member

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    Now that's really smart! Thank you.
    Where in the world did you learn all of this?:)
     
  11. Teritrips

    Teritrips Member

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    I have had some time to think about the advice you gave.
    When you said " Its the same as cashback rewards, you just gotta "save" your cash back towards travel".
    Coreect me if I am wrong but it's just a deduction from the balance not actual cash back, correct?
     
  12. edekba

    edekba Gold Member

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    Its a statement balance credit. But what's the difference? If you have $100 in "Cash-Back" you can use towards the balance of your card, you can save "$100" from paying the bill.

    I don't have the DoubleCash card myself but I'm assuming that how it works plus the option to maybe get GiftCards as well? I've used the CapitalOne credits before...
     
  13. iolaire
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    iolaire Gold Member

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    The main concern I have is with a cash back card the value is only worth the cash back amount. So lets say you can spend to a point where you have 120k points, which means you spent the enough to be the sign up bonus (60K) plus $60,000 for the next 60K. That is only worth $1,200 dollars.

    Lets say instead you get the AA Executive Card for 75K points (ending soon), those 75K points is enough to get to Asia in first class, with 10k Points left over. First class to Asia is much more valuable (to me) than $1,200 rebate. Plus you would be spending under $10k to get that bonus, with the remaining $50k in sped you could get a few other cards that give you large point sign up bonuses.
     
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  14. Teritrips

    Teritrips Member

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    iolaire. Your example really brings it home to me. And thanks
    edekba for explaining the cash back alternatives.

    This trip will be a semi - retirement gift for myself and I am indeed looking to fly First Class, Business or in the case of Singapore Airlines - Premium Economy.
    Due to both of your expertise and advice, I can now see how cash back cards (however you market them) is a non option because of the cost of first/business.
    I will be exploring air cards ie: Singapore Airline's Krys card and other airlines to see what the best option is. I am leaning towards Singapore Airlines because I understand in 2018, they will be offering direct flight from New York.

    Are there usually a good inventory of seats set aside for travelers who wish to use FF points in First Class? And how far out do you think I should book with FF points if I do want to fly in their fancier sections?
     
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  15. edekba

    edekba Gold Member

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    Glad you see the light.
    1. Premium cabin awards usually open up one to two seats 1 year out and then occasionally open up in between that date & flight date. Then usually airlines will open up more seats if they haven't sold closer to actual flight date. With that in mind I would open up cards and accumulate enough points to book flights when the window opens up which would be about 1 year out. Should be plenty if you're strategic with it. A quick note is that we don't know how much the flight from EWR - SIN will cost in miles yet since they just soft announced the flight. Also we don't know how many seats they'll release and in what cabin since I don't think they've announced how they're going to fit the A350 yet.
    2. Singapore Airline miles expires after accumulation, so if you earn 10000 Singapore miles in one month, in 2 years (I think that was the date but you'll have to search) those 10000 miles will expire. As such, I would suggest getting cards and points that you can transfer into Singapore and transfer those points to Singapore right before you aim to book them. Good news is that all the major bank points transfer to Singapore (Chase Ultimate Rewards, Amex Membership Rewards, Citi Thank-you, etc.)
      1. If you haven't opened up a lot yet I would highly suggest you start with Chase since they're a lot more strict with their application and will deny you if you have more than 5 opened accounts within the last 2 years. Get the Sapphire, Freedom, Ink (If you have a small business). That should earn you about 100k Ultimate Rewards points.
      2. Then go for Citi/Amex points afterwards and accumulate based upon spend categories and/or whoever has the highest sign-on bonus at the time. Having all these points in programs that you can transfer to various airlines/hotels will give you flexibility to use whatever route opens up and is the best value at time of booking. Don't peg all your baskets in Singapore (or any airline I think) since you never know what will happen in 3+ years. However since it is so far out getting that 75k AA card would be a good bet you could use those for other trips etc... Your target is so far out its hard to accurately throw a dart at the dartboard and tell you what's your best bet.
    I hope that helps.
     
  16. Teritrips

    Teritrips Member

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    I'm glad I see the light too.



    How do you transfer points? Is it a different process for each card? I've got some lingering Turkish Airline points. They are under Starwood = Singapore Airlines.


    Don't these points expire too?

    I applied for the Cap 1 Rewards card. It's in the mail. Until I wait to get one of the cards you suggested above, for now I will just use it accumulated for other travel expenses ie:eek:ther hotels (outside of IHG or Hilton that I currently racking up), car rental etc.

    Sounds like an EXCELLENT plan. THANK YOU!!!
     
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  17. edekba

    edekba Gold Member

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    • It differs from card/program to program. I don't understand Turkish Airline, Starwood, Singapore ... not sure what you by that phrase. But if you have SPG points those will transfer to Singapore. You got to the parent program and have to register/link the other account and transfer over. Not every program links with each other but like I stated above Chase UR/ Amex MR/ Citi TY + Spg points all transfer to Singapore I believe.
    • I dont think so? As long as you have some activity with them they'll extend unlike Singapore which expire a set amount after you earn them most other programs will extend as long as you earn/redeem (have some activity) in the program.
     
  18. iolaire
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    iolaire Gold Member

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    Leverage this! With the right Amex applications at the right time you can get a huge amount of Singapore points add city and chase and you will be great as long as you can find your flights.
     
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  19. Teritrips

    Teritrips Member

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    Sounds like a great plan.
     
  20. Teritrips

    Teritrips Member

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    I meant SPG not Starwood.Is there a fee to transfer them to Singapore? Or to transfer them out of Singapore airlines in case I find a better points deal when the time comes to book?
     
  21. edekba

    edekba Gold Member

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    SPG = Starwood. So again not sure what you mean.

    Anyways no fee to send them over to Singapore. But once they're Singapore you can't/shouldn't send them anywhere else. Keep the bulk of your points in UR/MR/TY/SPG and transfer when you need them.
     
  22. Teritrips

    Teritrips Member

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    Where can a newbie find a dictionary for all of these acronyms i.e.MR UR TY?
     
  23. edekba

    edekba Gold Member

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    Sorry, not sure if they're "official" acronyms or not.

    UR = Chase Ultimate Rewards
    MR = Amex Membership Rewards
    TY = Citi Thank-You
     
  24. Teritrips

    Teritrips Member

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    No problem at all. Just grateful for the knowledge.
    SPG oops I meant Starwood oops again, I actually meant Star Alliance in the previous question that I had. It's all so new to me but I'm learning.
    Thanks everyone!!!
     

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