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.
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I give all the kudos to CapOne on their Venture marketing campaign that allows them to do this.
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.
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.
✓ credit hungry
✓ chasing bonuses
✓ maximizing rewards by using many cards
Careful, K-in-Boston: the ✓ is a Chase trademark, isn't it???