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Noticed it this morning while poking around.... AF for new card holders is now $95. Glad mine is still $59!
Chase's ridiculous 5/24 on CSP is literally putting money into Capital One's pockets -- massive money. Remember that CSP advertises as a 2X card even though it's more than 2X on travel earning->redemption.
So Capital One's Venture is a "2X" card but not equal to Chase's better 2X.
Since people can't get CSP so easily, they just go to Capital One who is happy to give everyone huge SLs.
$95/year is easy money for them. Good on Capital One for profiting from Chase's jealousy.
I give all the kudos to CapOne on their Venture marketing campaign that allows them to do this.
@Anonymous wrote:
Since people can't get CSP so easily, they just go to Capital One who is happy to give everyone* huge SLs.
*Except for customers who have been with them for over 20 years and have perfect payment history. Namely @K-in-Boston.
I'm sure Chase has done some extensive analysis of what they pay out to bonus-chasers and churners vs what they're losing on the 5/24 policy by locking out customers that don't fall into that category. I wouldn't even want to guess how those numbers work out, but I am sure they are constantly reviewing it. They seem to have doubled down on it with the new "one Sapphire product" policy, too.
Now if only they'd release a Venture metal card in the shape of the Capital One Project Element card!
@kdm31091 wrote:
95 a year is a lot for a Venture Card IMO. Beyond the sign up bonus, what’s the point over a free Double Cash?
There isn't IMO. Why I said CapOne's marketing is brilliant with this.
@kdm31091 wrote:
✓ credit hungry
✓ chasing bonuses
✓ maximizing rewards by using many cards
Careful, K-in-Boston: the ✓ is a Chase trademark, isn't it???
@Anonymous wrote:Careful, K-in-Boston: the ✓ is a Chase trademark, isn't it???