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Yes, the Venture card on the surface seems nice. 2miles per dollar is about 2% cash back (on travel). But what other prime cards do they have? Their cash rewards card is 1% and another 0.5% if you stick it out the full year. No 5x categories. like herding cats trying to get any sort of CLI.
Their business model seems rather obvious, get the people just out of FirstPremier/CreditOne/Matrix territory, entice them with a CLI in the first few months to a credit limit they should have gotten in the first place, then forget about them until they get frustrated and move on.
Frankly, the only way they keep prime customers is those that don't know any better. I had a co-worker who said he loved the venture card because he travels alot. This guy probably has an 800+ score, makes 300k+ a year, travels only business and first class, and yet thinks venture is so great. Don't worry, I set him straight. he's goin the CSP/amex plat/amex spg route now.
Really unless you're sitting on a 1k limit card of theirs with an 800 score, you're more likely to get struck by lightning inside an igloo than get a CLI from their front line csr's, nevermind ever seeing any auto CLI's outside of their credit steps program.
True, Cap1 is no fee gouging FPB/CreditOne/Matrix company looking to take advantage of desparate customers, but they don't get the title of prime lender either.
/end rant
ahhh! I forgot! the ability to customize your card is SUPER AWESOME (no joking!). I added one with my dog (cutest dog ever!).
You got $105 in rewards with a 3.5k limit? seriously?
I think they are making some improvements....I do like the picture on the card thing...thats pretty cool..
But, I do not give them "PRIME" status just because they are such a pain in the............to deal with.
A few of us, for whatever reason, got large CLs from Capital One at the beginning. Yes, no auto CLIs, but I don't get them from Chase or Citi either. For me, at the time, they occupied a useful niche, no FTF on their cards at a time this was very unusual (and still is somewhat unusual for no AF cards). So I still use them internationally (and the PerkCentral mall has good offers as well).
So are they prime? Well, clearly not for the majority of their customers. But for sub-prime, they seem to give decent cards to those who can't get good cards elsewhere, and, at the time, that is much more important than prime/subprime labels!
As with any issuer, subprime, prime or whatever, once they no longer meet your needs, SD/cancel and look elsewhere. Lots and lots of posts here about Cap One not giving CLI after X years. Yes, try EO, but if that doesn't work, try another issuer. And if THEY don't give you what you want, why should Cap One!
@bs6054 wrote:A few of us, for whatever reason, got large CLs from Capital One at the beginning. Yes, no auto CLIs, but I don't get them from Chase or Citi either. For me, at the time, they occupied a useful niche, no FTF on their cards at a time this was very unusual (and still is somewhat unusual for no AF cards). So I still use them internationally (and the PerkCentral mall has good offers as well).
So are they prime? Well, clearly not for the majority of their customers. But for sub-prime, they seem to give decent cards to those who can't get good cards elsewhere, and, at the time, that is much more important than prime/subprime labels!
As with any issuer, subprime, prime or whatever, once they no longer meet your needs, SD/cancel and look elsewhere. Lots and lots of posts here about Cap One not giving CLI after X years. Yes, try EO, but if that doesn't work, try another issuer. And if THEY don't give you what you want, why should Cap One!
That's a well thought out opinion. I do agree. No FTF is a good bonus. It's actually the only reason I keep mine around. I forgot about that unusual perk. I guess customizing the card and no FTF earns them a nice place in my SD and not my shredder.
If I knew nothing about its reputation on the forums Capital One would of had me really believing they are a Prime Lender. Instant approval online. Fast and easy account management online and with iphone app. Automatic card activation on the phone without having to talk to a person. Pretty good fraud detection department shutting my card down temporarily after two back to back $500 in store charges and notifying me immediately for verification. And finally, domestic CSR redeemed my No Hassle Miles on the telephone. Capital One has a place in my wallet. I pay no annual fee or foreign transaction fee. Plus my super shiny card is attractive.