Any chance Cap1 will up their cash back game?

[kdm31091]

---

@sarge12 wrote:

---

@Anonymous wrote:

Couldn't capital one do like many of the other companies and make a Premiere/Platinum/Prestige version of their quicksilver but instead of an annual fee it requires loyalty in some way, basically all the same perks as quicksilver but with 2% cash back, you would have to have excellent credit and maybe a checking account/saving account with certain requirements or 5 years credit history with capital one with no derogs with capital one in order to get the card.

Seems like it would be a smart move, I really like quicksilver since its so simple to use and it would be the main card if not exclusive if It was 2% or heaven forbid 2.5%

---

I personally believe we will soon see a reduction in rewards offered. Many people, myself included, have way over 10 credit cards. We choose which one will provide the maximum rewards for whatever transaction we are involved in. The end result is every card gets a smaller percentage of the market. In the future I expect cards with high rewards to require a minimum average monthly transaction level to recieve the high rewards. I think the end of the gravy train is coming, but I hope I am wrong.

---

I kinda agree here. Banks are definitely getting more aware of things like people using certain cards for certain transactions and obviously that isn't what banks prefer you to do. I think we will see more changes in the future like you suggest, such as requiring x average transaction level to get the rewards.

I don't think it will be the end of the gravy train, but I do think things will change.

[Anonymous]

I have looked at the Venture many times, and now thats its gotten into the metal card cool aid it is a looker. The only negative is you have to cancel it because at the end of the day the annual fee really rips through it value on the 3rd year vs a lot of other cards, and I really dont want to take 3 hits every time I apply for one.

I probably will try out the venture in September if it is still around, hopefully with a 50k bonus for some reason, although more likely it will have a higher AF by then.

I really hope they dont take away the one reason anyone should have a credit card which is the rewards. 

[Anonymous]

---

@sarge12 wrote:

---

@Anonymous wrote:

And the Premier Dining card has no FTF and no min rewards redemption. The AARP has both an FTF and a min redemption requirement. Besides, many people have the Amex Blue Cash Everyday with 3% on gas and 6% on groceries.

Normally, I'd say the PDR is an okay card. But for the infrequent traveller who may travel internationally for the few trips they make, this is a great card. A majority of cards offer 2, and maybe 3% as the high end for groceries. And many higher percentage grocery cards have an AF, making the cash back less than advertised compared to a no AF card. To be clear, I value Membership Rewards at 1 cent per point based on http://www.doctorofcredit.com/loyalty-programs/credit-card-loyalty-programs/american-express-membership-rewards-points-review/ which although is a couple years old, seems to still hold true today. To be fair, I don't know the value of most of the travel partners other than Delta (which is worth like .8 of a cent per point) as I don't travel much, but when I do, I usually fly Southwest, or whichever of the Big Three US airlines is cheapest if Southwest doesn't offer a flight to the destination or is more expensive. And I value a mile at 1 cent each as that is what most programs convert a mile to.

As for restuarants, 3% is the max back and many cards charge an annual fee for that rate. Though both of these don't take into account travel partners or the increased rate or value of points by booking via Chase (UR), AMEX (MR), or US Bank (FP worth more via travel). Seeing as groceries and dining are the most spending people put their money towards (after rent and insurance), this is a great card for the infrequent international traveller. And may be one of the best cards for someone who wants just one card for everything. Alliant Cashback Visa, AMEX Blue Cash Preferred, Bank of the West Cashback, Chase AARP, UMB Simply Rewards, and Golden1 Platinum Rewards (all except Alliant charge FTFs) are the only cards that rival it when it comes to a one card for everything approach to get the most rewards for how most people spend their money (not counting people who shop for everything at one brand: Target, Costco, Amazon, etc.).

---

That would be Blue cash Preferred....BCE is 3% on groceries, but has no AF.

---

That is right. I meant the Preferred. I wrote a post around the same time about the Everyday which probably is why I goofed. Thanks for catching and correcting my mistake.

[longtimelurker]

---

@sarge12 wrote:

---

@Anonymous wrote:

Couldn't capital one do like many of the other companies and make a Premiere/Platinum/Prestige version of their quicksilver but instead of an annual fee it requires loyalty in some way, basically all the same perks as quicksilver but with 2% cash back, you would have to have excellent credit and maybe a checking account/saving account with certain requirements or 5 years credit history with capital one with no derogs with capital one in order to get the card.

Seems like it would be a smart move, I really like quicksilver since its so simple to use and it would be the main card if not exclusive if It was 2% or heaven forbid 2.5%

---

I personally believe we will soon see a reduction in rewards offered. Many people, myself included, have way over 10 credit cards. We choose which one will provide the maximum rewards for whatever transaction we are involved in. The end result is every card gets a smaller percentage of the market. In the future I expect cards with high rewards to require a minimum average monthly transaction level to recieve the high rewards. I think the end of the gravy train is coming, but I hope I am wrong.

---

You could be right, but for some reason reward-tiering seems uncommon.   One of the few cards that had it, recently gave it up:  NASA went from a 1-1.25-2% structure to a flat 1.5%    In that case (and the JCB cards) the tiers are rather low, maxing out at a few thousand a year.   

There are also cards that (or used to!) give a bonus for meeting a large yearly spend (PRG in the past I think) but other than that the reward rate was flat.   So I don't know why something like say savings bank rates couldn't be used.  1% on all purchases up to $10K a year, 2% on all if purchases exceed $50K or something.

Then people would probably spend more trying to reach the thresholds (as you could convince yourself you get "free money" by spending that last $5K)

[Dalmus]

---

@Anonymous wrote:

I have looked at the Venture many times, and now thats its gotten into the metal card cool aid it is a looker. The only negative is you have to cancel it because at the end of the day the annual fee really rips through it value on the 3rd year vs a lot of other cards, and I really dont want to take 3 hits every time I apply for one.

I probably will try out the venture in September if it is still around, hopefully with a 50k bonus for some reason, although more likely it will have a higher AF by then.

I really hope they dont take away the one reason anyone should have a credit card which is the rewards. 

---

 It all depends on your level of spend, of course....   You only need to put $3,000 a year through it to cover the fee.  And with the signon bonus of (effectively) $400 towards airfare of giftcards, that covers several years of annual fees.   Although, to be honest, I'll probably roll the credit limit into my Quicksilver before the first annual fee hits, unless I find that they offer a 0% BT in a few months.