Capital One Venture Question

Discussion in 'Newbies' started by jazzmanfl, Mar 13, 2013.  |  Print Topic

  1. jazzmanfl

    jazzmanfl Member

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    Hello everyone. I'm new here and just wondering if anyone can share some insight. I've been looking at getting a Capital One Venture card, and I've read online that in March 2011 and March 2012 there were some pretty awesome bonuses (up to 100,000 points) for signing up. Does anyone happen to know if that's likely to happen again this year? I've looked online but can't find any information on it. I've also looked at other cards like the Chase Sapphire Preferred because it has such a better sign-up bonus, but I'm still leaning towards the Capital One Venture card. Thanks.
     
  2. jazzmanfl

    jazzmanfl Member

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    And in case no one here has any insight on the 100,000 bonus points promotion, I'd be curious to hear any thoughts people can share on the Capital One Venture v. the Chase Sapphire Preferred. My primary goal is to rack up rewards to use toward hotel stays. I don't like that Capital One seems to pull three hard credit reports, but the 2% back across the board is very attractive. Thanks in advance for any help you can share.
     
  3. anpe

    anpe Active Member

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    The key difference of Capital One travel rewards is that the redemption that you get out of their points is tied to the fixed cent-value (e.g. 100 000 would give a $1000 redemption), while in many other reward systems you can creatively squeeze better value (e.g. 100 000 UR Points can be transferred to 100 000 United Miles and redeemed for $4000 business class ticket or almost 5 nights at Park Hyatt which can be as high as $3000-4000 value), but obviously it depends on the situation.
     
  4. Muerl
    Original Member

    Muerl Gold Member

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    I have a Venture Card. I used it extensively traveling traveling through SE Asia and Oceana a year and a half ago, because of its high credit limit and no foreign transactions fees.

    That Being said, I mostly have it because I applied for the FIRST 100k offer and got $1000 for my troubles (Which I turned into 2 SIN-AKL 1 ways in J, but thats a bit of a longer story)

    There are some very positive benefits to it. Its VERY easy to open up and click "cover" an eligible purchase. But, its really just a 2% cash back that can only be used on travel. Since you can do a FiDo Amex 2% cash back card for actual cash I find that options more compelling.

    I'm currently debating canceling mine, Anual Fee just came due. Might just downgrade it to a "Free" card, and keep the credt line.
     
  5. Mrlasssen

    Mrlasssen Silver Member

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    I tend to agree, what is the free product and how easy is it to change over?
     
  6. servo

    servo Silver Member

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    The "free" card is the VentureOne card, and switching should be as easy as a phone call to Cap1. That way you don't lose the history on the Venture Rewards card and avoid the annual fee. It's not as great of a card and probably should sit in the sock drawer except for the annual use or two to keep it active, but it's a great idea.
     
  7. edekba

    edekba Gold Member

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    or you can get the Cash Rewards ... which i think is actually better than the VO.

    Cash = 1% + 50% bonus on the 1%
    V0 = 1.25pt that has to be used to credit travel.
     
  8. servo

    servo Silver Member

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    Is that as easy of a switch?
     
  9. edekba

    edekba Gold Member

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    yes fiancee just did it a month ago.
     
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  10. LAM

    LAM Silver Member

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    Don't they pull from all three credit bureaus? I also hate their customer service so I would not apply.
     
  11. servo

    servo Silver Member

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    Yes, they most certainly do.
     
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  12. jazzmanfl

    jazzmanfl Member

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    Thank you all for the helpful feedback. I'm rethinking the Capital One Venture a bit because of the three credit pulls. How bad is three pulls anyway?

    I'm looking more into the Sapphire Preferred; I just worry it won't accumulate points as quickly as others. I currently have a Chase credit card that I've had for years, but it doesn't earn any rewards. Is there any way to transfer an existing Chase card to a Sapphire Preferred? Or is it a whole new application?

    Also looking into the 2% Fidelity AmEx. It seems like a pretty solid choice too.
     
  13. edekba

    edekba Gold Member

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    1) what are your goals. If you want it easy then yeah C1 is a good easy choice. Straight up 2%. However if you prefer more value for your points it isnt as straightforward & require more work. (transferring into FF Programs, using their points to book flights, etc etc).
    2) I would apply for the CSP & then call chase to transfer your exisiting card into a Chase Freedom to take advantage of the rotating 5%
    3) Too many pulls will hurt your score, however we do have 3 CRA so when ppl say pull from all 3, C1 typically pulls from all three (Equifax, Experian, TransUnion). Most other lenders pull only from one of the 3. When you have too many hard inquiries on your CR it degrades your points & potentially look poor to other lenders in the future.
     
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  14. jazzmanfl

    jazzmanfl Member

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    Thanks a lot, @edekba for the very helpful responses.
     

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