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can't be much help, as I said apr never factors for me. I have noticed that when c1 hands out big limits they offset it with a high apr sometimes. my nfcu is 14.9%, that seems to be a better balance imo
APR really should not be a deal breaker if cards are being used properly.
Venture pays you 2% to use it. Even if you have to pay interest for a month or 2, your APR is not much more than the the 2% you got for using it.
In addition, I get 0% for 18 months with 2% fee all the time from Cap One.
Take 10k, pay $200, put in bank or pay off other cards, then get 2% on 10,000 over the next few months in purchases and pay in full each month.
Total cost = $0 for 18 months 0%!!!
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!
@bourgogne wrote:can't be much help, as I said apr never factors for me. I have noticed that when c1 hands out big limits they offset it with a high apr sometimes. my nfcu is 14.9%, that seems to be a better balance imo
14.9%.... how I would love to have that.
@Shooting-For-800 wrote:APR really should not be a deal breaker if cards are being used properly.
Venture pays you 2% to use it. Even if you have to pay interest for a month or 2, your APR is not much more than the the 2% you got for using it.
In addition, I get 0% for 18 months with 2% fee all the time from Cap One.
Take 10k, pay $200, put in bank or pay off other cards, then get 2% on 10,000 over the next few months in purchases and pay in full each month.
Total cost = $0 for 18 months 0%!!!
Of course, cards, especially rewards cards, should be paid in full. So in that case, APR hardly matters, if any, at all. You are absolutely correct about that.
Like I said, it is more of a psychological thing that gives me a bit of safety net should something ever happen to my spending and finances.
Now, when do you normally get offers like that from Capital One? I reckon you don't get that kinda offer right off the bat when you first get the card.
Just a quick update for UncleB and anyone else interested:
I spoke via chat with account specialist yesterday, and I was approved to have my Venture converted to Quicksilver.
I was told that I will be keeping my same VISA benefits, which hopefully means keeping the QS card as a Signature card. I didn't ask for a CLI at that time, and will be keeping the exact same terms. Obviously I won't be getting the sign up bonus, but I will be keeping the same account number, and the little history of the account, without another HP on my credit report. Sounds fair to me!
I easily met the spending requirement for the sign up bonus, and put some more usage on the card to have enough for about 60,000 Venture miles on it, and redeemed ALL of the miles for my recent hotel spending. I also paid off the balance in full to have it at $0 balance before the statement cut.
This morning, I went online to their website to request for a CLI, and they offered a $1,000 CLI. I took it.
All in one, my plan has worked out fabulously. Many thanks to everyone, especially UncleB.
@Absolution16 wrote:Just a quick update for UncleB and anyone else interested:
I spoke via chat with account specialist yesterday, and I was approved to have my Venture converted to Quicksilver.
I was told that I will be keeping my same VISA benefits, which hopefully means keeping the QS card as a Signature card. I didn't ask for a CLI at that time, and will be keeping the exact same terms. Obviously I won't be getting the sign up bonus, but I will be keeping the same account number, and the little history of the account, without another HP on my credit report. Sounds fair to me!
I easily met the spending requirement for the sign up bonus, and put some more usage on the card to have enough for about 60,000 Venture miles on it, and redeemed ALL of the miles for my recent hotel spending. I also paid off the balance in full to have it at $0 balance before the statement cut.
This morning, I went online to their website to request for a CLI, and they offered a $1,000 CLI. I took it.
All in one, my plan has worked out fabulously. Many thanks to everyone, especially UncleB.
I'm so glad to hear everything worked out the way you wanted!
With Capital One, Signature/WMC/WEMC designations carry over to the new card when a PC is done so you'll be in good shape with the new QS!
That was a sweet $1k CLI as well... the last couple of times that's what they've offered me and I've also always accepted. Mark your calendar and be sure to check again in six months!
Again, congrats on a well-thought out plan and on a great CLI... and thanks for taking the time to come here and give us the update!