Capital One Venture shutting down rewards transfers - temporarily?

[syeb]

I just received this email from Capital One stating how rewards transfers will not be allowed after September 15. They say temporarily but I think that is unlikely. My wife and I both have cards and we consistently combine the points for bigger purchases. Transfers are the only reason we use the Venture over the Arrival+ which offers the 10% redemption bonus as otherwise they are basically identical. I guess the Arrival+ has just made it to 1st place on our everyday spending card list.

"Recently, we’ve been working to provide you with even better ways to manage and redeem your rewards. As we update our program, we’ll be making changes to some redemption features you may have used in the past.

As of September 15, 2015, the following redemption options and features will change:

• If you gave someone else permission to redeem rewards on your behalf, they will no longer be able to do so as of September 15, 2015. You’ll need to redeem your own rewards after that time.
• The ability to transfer rewards from one Capital One® account to another will be unavailable; however, we know this feature is important to our customers and will be working to bring it back at a later date.

Remember, if you’d like to use the above features, please do so before September 15, 2015. We look forward to improving your rewards experience in the future!"

[Dawggie14]

There are apparently some changes to the rewards structure of the Barclay Arrival Plus card that are not so good. They're bringing down the 10% bonus travel rebate earning  to 5% starting sometime late 2015-2016 (depending on when you first applied and received the card). They're also increasing the minimum redemption amount from 2500 to 10K miles, which is a bit of a bummer. Things are definitely changing for this card - you can't even apply for one anymore (for the time being, that is).

[savingmoney87]

Oh No, I just got the VentureOne and Venture to recieve both the Sign-up bonus because I knew capital one lets you transfer from on CC to another rewards CC:-( Thank you for this post... I need to hit that minimum immediately and transfer. Then I'll be canceling that good ol venture but I think I'm going to keep the VentureOne because the higher limit and No AF. I love this forum. 

[Anonymous]

Might have something to do with their plans of allowing people to combine limits on cards?

[Broke_Triathlete]

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@Anonymous wrote:
Might have something to do with their plans of allowing people to combine limits on cards?

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That's what I was thinking too...

[Anonymous]

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@Broke_Triathlete wrote:

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@Anonymous wrote:
Might have something to do with their plans of allowing people to combine limits on cards?

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That's what I was thinking too...

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Mee three. 

[Anonymous]

The spouse and I just got all of our bonuses posted and redeemed thanks to the transfer feature. We used bonuses and regular rewards from 2 new Venture cards, a Venture One, and 2 Quicksilvers. That was $1,200 in bonuses + regular rewards we were shifting to one card for one huge travel purchase.

Once we got that email we decided to just start pumping purchases/payments through 1 of the Venture cards to keep all the rewards in one place to keep eating away at that big travel purchase until it becomes inelligible for redemption.

I wouldn't mind the lack of the transfer feature come September if we can combine our credit lines into just 1 Venture card for each of us.