Surprising Upgrade Offer, from Crap One, Yes I said Crap

[plasticguy]

Received several invitations in the mail from Capital One requesting me add Venture card to go along with my No Hassle card and I have ignored each invitation. The invitation was for the Visa Signature with a CL starting at 5k. Since I have not responded I get this email from them: Because you’re such a valued customer, we’re offering to update your present card to either Venture SM or Venture One SM. Venture offers you • 2 miles per dollar on every purchase, every day—$59 annual fee • No foreign transaction fees Venture One offers you • 1.25 miles per dollar on every purchase, every day—no annual fee • No foreign transaction fees Redeem miles for flights, cash, and merchandise with either card. You’ll also enjoy all the benefits of MasterCard World. Updating is easy, and you won’t need to apply. Simply 1) Log in to Online Banking. 2) Click YOUR FEATURES. Don’t delay. Respond by March 31, 2011. Just log in or call 1-877-513-9959. *** Now the invitations I got in the mail did not mention an annual fee. I checked the website and it 's the blue Venture that has the annual fee. I do not want a card that has an annual fee, nor do I wish to have 3 hits on my CR, but I just thought it's odd that they sent me this email. They must be desperate for customers.

[plasticguy]

just as a side note, after further investigation, I can choose the card with the fee or the one without. Your account will be upgraded to a VentureOne (Visa Signature/ MasterCard World) card. You will earn 1.25 miles per dollar on all net purchases with no Annual Membership Fee. By upgrading your Rewards to 1.25 miles per dollar on all net purchases, you will no longer receive any annual bonuses or other enhanced earn benefits previously tied to your account. You will begin to earn 1.25 miles per dollar within approximately 5-7 business days. You will receive a new card within approximately 7-10 business days. By agreeing to these account changes, you are no longer eligible for offers from Capital One for 6 months.

[KingAdrock]

An upgrade from Cap 1? That's shocking but welcome news. Up until now they didn't even know the meaning of product change.

[vish1]

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@KingAdrock wrote:

An upgrade from Cap 1? That's shocking but welcome news. Up until now they didn't even know the meaning of product change.

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I had 2 Cap1 cards and I closed 1 of em abt 1 month back. At that time the rep said they were doing reviews and may upgrade the card sometime soon, but I thought it was just another piece of crap thrown on me to retain me and I closed it.

Anyway I still have my older crap 1 and let's see if I get a similar offer sometime.

[DI]

Capital One must have caught wind to my post the other day about not upgrading accounts. 

[JayRizzo]

From all of the news articles I've seen, I believe Capital One is in the lead for distributing mass mailings (snail and email) to existing and potential customers so far in 2011.  To be honest, all banks are hurting for customers.

Capital One does have a link on their web site called, "Modify features", but the offer must be available -- kinda like a gamble because most times there's nothing available.

Also, that backdoor number that's posted as 877-513-9959 is actually the Product Change department.  Again, it only depends on if something's available from the offer database.

[laz98]

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@JayRizzo wrote:

From all of the news articles I've seen, I believe Capital One is in the lead for distributing mass mailings (snail and email) to existing and potential customers so far in 2011.  To be honest, all banks are hurting for customers.

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i believe that!  they must email me once a week about balance transfers & they keep mailing me about them as well, & they also mail me the checks....grrr!  stop cluttering up my mailbox, cap one!

[JaseT]

I'm happy to hear that CapOne is doing this! I'd like to upgrade to a VentureOne card but I don't want to apply and take a 3 INQ hit! I'll be keeping an eye on my offers.

[favre_2_free]

I just called the backdoor number and got my Platinum card upgraded to a VentureOne Card.  I already had a 5,600 limit on this card, but I really wanted to start collecting some rewards on it.  It's my oldest account at 10 years.  I also asked them about my account that is just over  years old, and she said that wasn't eligible at this time to be upgraded to a signature account, but it had other upgrades but she would have to transfer me again...so I declined.  Still nice to get one of their top tier cards!

[Anonymous]

sorry quick question, doesn't VISA signature card not report a credit limit?