Venture Card

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@Hex wrote:

I just noticed that the Cap1 Venture Card offered on the capital one site offers 50,000 bonus miles for $3K spend in the first 90 days with AF of $95. I was just pre-qualified and approved for 40,000 bonus miles with the same spending requirement and AF of $59. I didn't realized that there is more than one offer out there and wanted to share the info with everyone.

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What justifies the annual fee increase? An extra $100 on the signup bonus which is limited to travel isn't worth it IMO. 

They literally added $36 to the annual fee to give you... Nothing. 

For $95 a year I can get the Citi TY Premier, Chase Sapphire Preferred, AMEX Blue Cash Preferred, or Everyday Preferred... All of which are way better than Capital One's offering and can transfer to partner programs. Capital One, instead of improving their weak, outdated offerings (1.5% QS, 2x $95 with no transfer partners Venture) they're making them worse. 

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The Amex Blue Cash Preferred and Everday Preffered give you membership points.  I would take the 500 dollar travel reimbursement credit over 25k MR any day of the week.  Also you would have to get both to get 50k in sign up bonuses.  And Every day Preffered doesn't waive fee first year.  But as you can get a 2 percent cash back card over this card with no annual fee I think it makes zero sense to keep this card past year one. 

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I'll take the 15,000 MR points plus 4.5x, 3x, 1.5x on all purchases rather than 2x fake miles per purchase. 

I'd also rather have 6%, 3%, 3%, 1% over 2x fake miles any day. 

@For those who want to keep a card for more than one year (most people) these two AMEX cards make more sense than the Venture @ $95/year.

The Citi TY Premier squashes this card with it's no first year AF, and esentially 3.75x, 2.50x, and 1.25x categories when redeeming travel through Citi's portal, or you can transfer them out at 3x, 2x, 1x and it's still likely a better deal with the 30,000 to 50,000 points sign up bonus. 

The 50,000 miles I bet is a temporary sign up bonus that'll go back to 40,000 after the dust settles from everyone being angry about the AF hike. Raising the AF is going to do nothing for them other than encourage more chruning, make them experience more AF waiver requests, and that's about it... It doesn't make the card seem more desirable for the average card holder. My boss has had this card  for years and he said he's dropping it when I told him about the AF hike, and I bet others who know credit cards will follow suit. 

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There is no way the Everyday Preferred is as good as this card.

With your assumption of 15k bonus ( I would go for the 30k bonus but since your  brought up the 15k bonus)

With 15k MR points which I would say are much less valuable than the Venture points as you can't use them for any travel.  But for sake of argument say they are worth 1 cent each both.

Amex 150 dollars    Cap One 500 dollars

-95 first year fee        no fee first year

so right now before any spending the Cap One is up 445 dollars

Cap One gives you 2 percecnt on everything.   

So lets say I spend 12000 on groceries, 1000 on gas and 30000 on other spending.  Amex only gives 3 percent on first 6k of groceries than no bonus.   So no benefit to Amex. 

                  Amex    Cap One

groceries   240        240

gas            20           20

misc          300         600

total      $615        $1360

If you want to get the max 30k bonus (which is what I would do) for amex that would make Amex $765 vs Cap One $1360.  

[Anonymous]

@simplynoir..... that’s what figured. Thanks for sharing the link so peeps can get current accurate info.

[simplynoir]

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@Justagirl73 wrote:

@simplynoir..... that’s what figured. Thanks for sharing the link so peeps can get current accurate info.

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No problem. I was curious myself so I had to check.

[Anonymous]

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@Justagirl73 wrote:

@simplynoir..... that’s what figured. Thanks for sharing the link so peeps can get current accurate info.

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+1

[Hex]

Sadly some people will want the card more now that the fee is higher. It's like those kids who want to go to the most expensive college they can get into. I went to State College and I'm super happy because I got my Venture card approved at 4 o'clock this morning with the $59 AF. It may have even been the last one. I plan to keep the card because Cap1 gave me the chance to fix the disaster that my finances had become. I'm glad to hear they won't be increasing the fee on current holders I didn't think they would. Thanks for the link!

[simplynoir]

I applied myself yesterday coincidentally enough so I had to call today to find out what terms I got. Surprisingly they said the 50k bonus/3 mo/$59 AF version so I got the best of both worlds there. Not that I'm gonna keep the card after the first year anyways but still lol.

[Anonymous]

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@simplynoir wrote:

I applied myself yesterday coincidentally enough so I had to call today to find out what terms I got. Surprisingly they said the 50k bonus/3 mo/$59 AF version so I got the best of both worlds there. Not that I'm gonna keep the card after the first year anyways but still lol.

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Good for you!!! It's crazy how many versions of this card is roaming around out there. 

[simplynoir]

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@Anonymous wrote:

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@simplynoir wrote:

I applied myself yesterday coincidentally enough so I had to call today to find out what terms I got. Surprisingly they said the 50k bonus/3 mo/$59 AF version so I got the best of both worlds there. Not that I'm gonna keep the card after the first year anyways but still lol.

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Good for you!!! It's crazy how many versions of this card is roaming around out there. 

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Yep, it's like a slot machine or trying to get the best AMEX signup bonus atm but I'm assuming they'll fix the kinks out before too long.

[Anonymous]

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@Anonymous wrote:

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@simplynoir wrote:

I applied myself yesterday coincidentally enough so I had to call today to find out what terms I got. Surprisingly they said the 50k bonus/3 mo/$59 AF version so I got the best of both worlds there. Not that I'm gonna keep the card after the first year anyways but still lol.

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Good for you!!! It's crazy how many versions of this card is roaming around out there. 

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I know right? I’m sure eventually the 59 af will go away (especially the one with 50k bonus). If anyone is thinking about apping, now would be a good time. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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There is no way the Everyday Preferred is as good as this card.

With your assumption of 15k bonus ( I would go for the 30k bonus but since your  brought up the 15k bonus)

With 15k MR points which I would say are much less valuable than the Venture points as you can't use them for any travel.  But for sake of argument say they are worth 1 cent each both.

Amex 150 dollars    Cap One 500 dollars

-95 first year fee        no fee first year

so right now before any spending the Cap One is up 445 dollars

Cap One gives you 2 percecnt on everything.   

So lets say I spend 12000 on groceries, 1000 on gas and 30000 on other spending.  Amex only gives 3 percent on first 6k of groceries than no bonus.   So no benefit to Amex. 

                  Amex    Cap One

groceries   240        240

gas            20           20

misc          300         600

total      $615        $1360

If you want to get the max 30k bonus (which is what I would do) for amex that would make Amex $765 vs Cap One $1360.  

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MR points can be used for travel... They transfer to hotel partners, Delta, Jet Blue, etc. They're worth more than one cent per point when you transfer them. 

It gives 4.5x on groceries for the first $6,000 per year, and then 1.5x, each point worth more than 1 cent each. I would say that's a significant benefit to AMEX. 

Again, I was speaking from the prespective of someone who will keep the card past the first year. 

Your math is incorrect --

• 240/month for grocery spending is 4.5x (220) = 990 points (1.5 cent per piece for example) = $14.85 in value, so basically 6.18% back. 
• 20/month on gas station spending is 3x (20) = 60 points (1.5) = $0.90 in value, so basically 4.5% back. 
• 300/month misc spending is 1.5x (300) = 450 points (1.5) = $6.75 in value, so basically 2.25% back.

• 6000 (4.5) = 27,000 (1.5) = 40,500 or $405 worth of points
• 6000 (1.5) = 9,000 (1.5) = 13,500 or $135 worth of points.
• 1000 (3) = 3,000 (1.5) = 4,500 or $45 worth of points. 
• 30,000 (1.5) = 45,000 (1.5) = 67,500 or $675 worth of points.
• 15,000 MR sign up bonus is worth (1.5) = $225 worth of points.
• Grant total = $1485 in the first year.  

The Venture is worse besides the signup bonus.