topic Re: What's so good about the Venture? in Credit Cards

What's so good about the Venture?

core — Sun, 12 Jul 2015 22:19:18 GMT

Can someone help me to understand this? Lately around here I've been hearing a lot of talk about people applying for or wanting the Venture. I'm just now starting to do my research and it's going to take me several days to get through all the recent threads. I'm going to read all of them but I may get antsy and apply for something before then.

I understand that your venture miles can be redeemed for statement credits on travel. You get 2x miles on all purchases. But wouldn't 2% from Citi DC or Fidelity Amex be the same thing but way better? Even if you travel all the time, having the option to spend your points elsewhere can't be a bad thing right? Plus the Venture has an AF. So from where I'm sitting, the Venture looks way worse than Citi DC or Fido Amex even if you travel. What am I missing here?

The signup bonus makes it worth the triple pull just barely, so I may apply if I can think of a good reason. Convince me to apply for this card! I don't care about a high limit on a card that won't be my main spender and has a high APR... I have 0% util so padding limits isn't useful to me. Is that the only reason people are going nuts over this card?

Re: What's so good about the Venture?

taxi818 — Sun, 12 Jul 2015 22:22:06 GMT

@core wrote:
Can someone help me to understand this? Lately around here I've been hearing a lot of talk about people applying for or wanting the Venture. I'm just now starting to do my research and it's going to take me several days to get through all the recent threads. I'm going to read all of them but I may get antsy and apply for something before then.

I understand that your venture miles can be redeemed for statement credits on travel. You get 2x miles on all purchases. But wouldn't 2% from Citi DC or Fidelity Amex be the same thing but way better? Even if you travel all the time, having the option to spend your points elsewhere can't be a bad thing right? Plus the Venture has an AF. So from where I'm sitting, the Venture looks way worse than Citi DC or Fido Amex even if you travel. What am I missing here?

The signup bonus makes it worth the triple pull just barely, so I may apply if I can think of a good reason. Convince me to apply for this card! I don't care about a high limit on a card that won't be my main spender and has a high APR... I have 0% util so padding limits isn't useful to me. Is that the only reason people are going nuts over this card?

The rewards are average. But no one else is giving 15k limits for a 670 credit score. Does that answer ytour question?? 720score. is 20k. limit. and so on. that is all it takes. no deep thought here.EDIT> you may not be interested. ok. but many here at my fico soon as a 30k limit is given out. the flood gates will open. that is the general trend here always. so don't be so shocked.

Re: What's so good about the Venture?

Anonymous — Sun, 12 Jul 2015 22:24:15 GMT

Is that the only reason people are going nuts over this card? - This seems to be the main reason people are going nuts over it. I also have no need for util padding (or interest in Capital One) so passed. You've researched enough to point out reasons why the card is average and it doesn't look like it would be worth it to you. Don't think you need convincing!

Re: What's so good about the Venture?

Revelate — Sun, 12 Jul 2015 22:27:16 GMT

@core wrote:
Can someone help me to understand this? Lately around here I've been hearing a lot of talk about people applying for or wanting the Venture. I'm just now starting to do my research and it's going to take me several days to get through all the recent threads. I'm going to read all of them but I may get antsy and apply for something before then.

I understand that your venture miles can be redeemed for statement credits on travel. You get 2x miles on all purchases. But wouldn't 2% from Citi DC or Fidelity Amex be the same thing but way better? Even if you travel all the time, having the option to spend your points elsewhere can't be a bad thing right? Plus the Venture has an AF. So from where I'm sitting, the Venture looks way worse than Citi DC or Fido Amex even if you travel. What am I missing here?

The signup bonus makes it worth the triple pull just barely, so I may apply if I can think of a good reason. Convince me to apply for this card! I don't care about a high limit on a card that won't be my main spender and has a high APR... I have 0% util so padding limits isn't useful to me. Is that the only reason people are going nuts over this card?

Historically this forum goes all starry-eyed when creditors start handing out outsized limits.

To be brutally honest, my Venture app - I don't care about the bonus, I do care about the limit not on that card, but when I go apply for a couple of cards I do care about (non-trivial lines on balance carrying cards just in case I need them to float in times of financial stress rather than just filing a BK and being done with it, even 3 months either way is enough time for me to get something to start paying down my debt).

Beyond that don't need it, sitting on a CSP pre-approval which will be my long-term travel card, and I have a Fidelity Amex already though I wouldn't mind a CLI on that someday and for acceptance and online transaction fee reasons I'd rather have a Citi DC, but end of the day we've seen far too often that current limits beget future limits, and my limits are incredibly low compared to most people on this forum but now it's time to do something about that as I get close to credit card portfolio completion. I don't need 200K limits, I do need more than the 34K I'm on now and I do need lower APR's than what I have access to now for financial defense reasons.

Venture is part of the two step process to that for me, nothing more.

Re: What's so good about the Venture?

core — Sun, 12 Jul 2015 22:27:13 GMT

Ok thanks guys. So nothing more to it than that. Well hrmm, I guess I could use a little more limit on my QS1 someday if they ever turn on the combining limits again. That's the thread that got me started on all this. Still making my way through it.

The one good thing about CapOne cards is they give you the full bonus on companies coded as mortgage / finance companies. Whereas Citi DC does not pay the second 1%. And Amex is never accepted for such things. That's about the only reason I can think of to use the C1 cards over the others.

Re: What's so good about the Venture?

CreditCuriosity — Sun, 12 Jul 2015 22:26:59 GMT

@taxi818 wrote:
@core wrote:
Can someone help me to understand this? Lately around here I've been hearing a lot of talk about people applying for or wanting the Venture. I'm just now starting to do my research and it's going to take me several days to get through all the recent threads. I'm going to read all of them but I may get antsy and apply for something before then.

I understand that your venture miles can be redeemed for statement credits on travel. You get 2x miles on all purchases. But wouldn't 2% from Citi DC or Fidelity Amex be the same thing but way better? Even if you travel all the time, having the option to spend your points elsewhere can't be a bad thing right? Plus the Venture has an AF. So from where I'm sitting, the Venture looks way worse than Citi DC or Fido Amex even if you travel. What am I missing here?

The signup bonus makes it worth the triple pull just barely, so I may apply if I can think of a good reason. Convince me to apply for this card! I don't care about a high limit on a card that won't be my main spender and has a high APR... I have 0% util so padding limits isn't useful to me. Is that the only reason people are going nuts over this card?

The rewards are average. But no one else is giving 15k limits for a 670 credit score. Does that answer ytour question?? 720score. is 20k. limit. and so on. that is all it takes. no deep thought here.EDIT> you may not be interested. ok. but many here at my fico soon as a 30k limit is given out. the flood gates will open. that is the general trend here always. so don't be so shocked.

@Anonymous is great about the venture other then the CL handed out.. Ideally you apply for both the Venture/QS and after 6 months combine the limits into the QS and have a massive CL QS @ 1.5% CB. That is my thought pattern at least. No FTF's, No AF.. Can't really beat that. Just my take on how to handle the Venture. Hopefully you walk awawy with one double or triple pull for both cards. I was below the 720 fico Taxi and got 20k on venture, thought I might get 30k.. I think income deffinetly plays a role as well and offsets the score a bit and considering I had a TL with them since 2004 probably helped a bit too.. My reports are still far from perfect, but each month they get better and going to break down and pay off my last CA account from hsbc so that doesn't haunt me in new applications anymore as it has been a thorn in my side, not with Cap1 but with other lenders aka Chase.

Re: What's so good about the Venture?

CreditCuriosity — Sun, 12 Jul 2015 22:28:56 GMT

@Revelate wrote:
@core wrote:
Can someone help me to understand this? Lately around here I've been hearing a lot of talk about people applying for or wanting the Venture. I'm just now starting to do my research and it's going to take me several days to get through all the recent threads. I'm going to read all of them but I may get antsy and apply for something before then.

I understand that your venture miles can be redeemed for statement credits on travel. You get 2x miles on all purchases. But wouldn't 2% from Citi DC or Fidelity Amex be the same thing but way better? Even if you travel all the time, having the option to spend your points elsewhere can't be a bad thing right? Plus the Venture has an AF. So from where I'm sitting, the Venture looks way worse than Citi DC or Fido Amex even if you travel. What am I missing here?

The signup bonus makes it worth the triple pull just barely, so I may apply if I can think of a good reason. Convince me to apply for this card! I don't care about a high limit on a card that won't be my main spender and has a high APR... I have 0% util so padding limits isn't useful to me. Is that the only reason people are going nuts over this card?

Historically this forum goes all starry-eyed when creditors start handing out outsized limits.

To be brutally honest, my Venture app - I don't care about the bonus, I do care about the limit not on that card, but when I go apply for a couple of cards I do care about (non-trivial lines on balance carrying cards just in case I need them to float in times of financial stress rather than just filing a BK and being done with it, even 3 months either way is enough time for me to get something to start paying down my debt).

Beyond that don't need it, sitting on a CSP pre-approval which will be my long-term travel card, and I have a Fidelity Amex already though I wouldn't mind a CLI on that someday and for acceptance and online transaction fee reasons I'd rather have a Citi DC, but end of the day we've seen far too often that current limits beget future limits, and my limits are incredibly low compared to most people on this forum but now it's time to do something about that as I get close to credit card portfolio completion. I don't need 200K limits, I do need more than the 34K I'm on now and I do need lower APR's than what I have access to now for financial defense reasons.

Venture is part of the two step process to that for me, nothing more.

My thought pattern exactly.

Re: What's so good about the Venture?

Anonymous — Sun, 12 Jul 2015 22:29:12 GMT

@Revelate wrote:
@core wrote:
Can someone help me to understand this? Lately around here I've been hearing a lot of talk about people applying for or wanting the Venture. I'm just now starting to do my research and it's going to take me several days to get through all the recent threads. I'm going to read all of them but I may get antsy and apply for something before then.

I understand that your venture miles can be redeemed for statement credits on travel. You get 2x miles on all purchases. But wouldn't 2% from Citi DC or Fidelity Amex be the same thing but way better? Even if you travel all the time, having the option to spend your points elsewhere can't be a bad thing right? Plus the Venture has an AF. So from where I'm sitting, the Venture looks way worse than Citi DC or Fido Amex even if you travel. What am I missing here?

The signup bonus makes it worth the triple pull just barely, so I may apply if I can think of a good reason. Convince me to apply for this card! I don't care about a high limit on a card that won't be my main spender and has a high APR... I have 0% util so padding limits isn't useful to me. Is that the only reason people are going nuts over this card?

Historically this forum goes all starry-eyed when creditors start handing out outsized limits.

To be brutally honest, my Venture app - I don't care about the bonus, I do care about the limit not on that card, but when I go apply for a couple of cards I do care about (non-trivial lines on balance carrying cards just in case I need them to float in times of financial stress rather than just filing a BK and being done with it, even 3 months either way is enough time for me to get something to start paying down my debt).

Beyond that don't need it, sitting on a CSP pre-approval which will be my long-term travel card, and I have a Fidelity Amex already though I wouldn't mind a CLI on that someday and for acceptance and online transaction fee reasons I'd rather have a Citi DC, but end of the day we've seen far too often that current limits beget future limits, and my limits are incredibly low compared to most people on this forum but now it's time to do something about that as I get close to credit card portfolio completion. I don't need 200K limits, I do need more than the 34K I'm on now and I do need lower APR's than what I have access to now for financial defense reasons.

Venture is part of the two step process to that for me, nothing more.

Excellent post.

Re: What's so good about the Venture?

Revelate — Sun, 12 Jul 2015 22:31:49 GMT

@core wrote:
Ok thanks guys. So nothing more to it than that. Well hrmm, I guess I could use a little more limit on my QS1 someday if they ever turn on the combining limits again. That's the thread that got me started on all this. Still making my way through it.

The one good thing about CapOne cards is they give you the full bonus on companies coded as mortgage / finance companies. Whereas Citi DC does not pay the second 1%. And Amex is never accepted for such things. That's about the only reason I can think of to use the C1 cards over the others.

Amex where it is carried is usually a higher transaction fee that gets passed onto the consumer. Appreciate the note on the Citi DC regarding finance company payments though, wasn't fully aware of that though I can understand it.

Re: What's so good about the Venture?

Anonymous — Sun, 12 Jul 2015 22:32:00 GMT

Wait what? 720 score is 20,000 limit? If that was the case I would apply right now. I highly doubt that

Re: What's so good about the Venture?

CreditCuriosity — Sun, 12 Jul 2015 22:40:36 GMT

Score/profile/income is going to decide your limits.. If you make 20k and have a score of 740+ I doubt you would get a 20k+ limit even from Cap1(not saying that is what you make, just saying more than scores go into approval amt.). So all factors have be considered. I was at 670+ on all 3 cb's and got a 20k approval, but above average income.

@Italiannyc17 wrote:
Wait what? 720 score is 20,000 limit? If that was the case I would apply right now. I highly doubt that

Re: What's so good about the Venture?

taxi818 — Sun, 12 Jul 2015 22:43:18 GMT

@CreditCuriousity wrote:
Score/profile/income is going to decide your limits.. If you make 20k and have a score of 740+ I doubt you would get a 20k+ limit even from Cap1(not saying that is what you make, just saying more than scores go into approval amt.). So all factors have be considered. I was at 670+ on all 3 cb's and got a 20k approval, but above average income.
@Italiannyc17 wrote:
Wait what? 720 score is 20,000 limit? If that was the case I would apply right now. I highly doubt that

Of course CC. income for sure plays a major role as well. even if the scores are not good. but i also say my best friend get 30k limit even though he reported 22k in income. because all his scores are 790 plus.

@italiannyc17. if you got 720 across board. its a very good chance. as the mod said as well. fico members get insane when the large limits are at stake. hehehe.

Re: What's so good about the Venture?

SouthJamaica — Sun, 12 Jul 2015 22:44:28 GMT

@Italiannyc17 wrote:
Wait what? 720 score is 20,000 limit? If that was the case I would apply right now. I highly doubt that

I was a little below 720 and got a 20k limit

Re: What's so good about the Venture?

CreditCuriosity — Sun, 12 Jul 2015 22:52:08 GMT

@taxi818 wrote:
@CreditCuriousity wrote:
Score/profile/income is going to decide your limits.. If you make 20k and have a score of 740+ I doubt you would get a 20k+ limit even from Cap1(not saying that is what you make, just saying more than scores go into approval amt.). So all factors have be considered. I was at 670+ on all 3 cb's and got a 20k approval, but above average income.
@Italiannyc17 wrote:
Wait what? 720 score is 20,000 limit? If that was the case I would apply right now. I highly doubt that

Of course CC. income for sure plays a major role as well. even if the scores are not good. but i also say my best friend get 30k limit even though he reported 22k in income. because all his scores are 790 plus.
@italiannyc17. if you got 720 across board. its a very good chance. as the mod said as well. fico members get insane when the large limits are at stake. hehehe.

wow a friend of yours got a 30k limit with a reported income of 22k? Wow Cap1 is very very relaxed, that is scary kinda. Obviously his score hows he is responsible, but why would someone at that income need such a high limit card? I am thinking with regards to Cap1 thinking..

Re: What's so good about the Venture?

Anonymous — Sun, 12 Jul 2015 22:53:31 GMT

@CreditCuriousity wrote:
@taxi818 wrote:
@CreditCuriousity wrote:
Score/profile/income is going to decide your limits.. If you make 20k and have a score of 740+ I doubt you would get a 20k+ limit even from Cap1(not saying that is what you make, just saying more than scores go into approval amt.). So all factors have be considered. I was at 670+ on all 3 cb's and got a 20k approval, but above average income.
@Italiannyc17 wrote:
Wait what? 720 score is 20,000 limit? If that was the case I would apply right now. I highly doubt that

Of course CC. income for sure plays a major role as well. even if the scores are not good. but i also say my best friend get 30k limit even though he reported 22k in income. because all his scores are 790 plus.
@italiannyc17. if you got 720 across board. its a very good chance. as the mod said as well. fico members get insane when the large limits are at stake. hehehe.
wow a friend of yours got a 30k limit with a reported income of 22k? Wow Cap1 is very very relaxed, that is scary kinda. Obviously his score hows he is responsible, but why would someone at that income need such a high limit card? I am thinking with regards to Cap1 thinking..

@If that is true then indeed very scary. I agree with you @Anonymous.

Re: What's so good about the Venture?

taxi818 — Sun, 12 Jul 2015 22:54:17 GMT

@CreditCuriousity wrote:
@taxi818 wrote:
@CreditCuriousity wrote:
Score/profile/income is going to decide your limits.. If you make 20k and have a score of 740+ I doubt you would get a 20k+ limit even from Cap1(not saying that is what you make, just saying more than scores go into approval amt.). So all factors have be considered. I was at 670+ on all 3 cb's and got a 20k approval, but above average income.
@Italiannyc17 wrote:
Wait what? 720 score is 20,000 limit? If that was the case I would apply right now. I highly doubt that

Of course CC. income for sure plays a major role as well. even if the scores are not good. but i also say my best friend get 30k limit even though he reported 22k in income. because all his scores are 790 plus.
@italiannyc17. if you got 720 across board. its a very good chance. as the mod said as well. fico members get insane when the large limits are at stake. hehehe.
wow a friend of yours got a 30k limit with a reported income of 22k? Wow Cap1 is very very relaxed, that is scary kinda. Obviously his score hows he is responsible, but why would someone at that income need such a high limit card? I am thinking with regards to Cap1 thinking..

oops. should have told you. He got 2 of them for 30k each. and yes. with 22k income. i saw him earlier today. he is still thanking me for telling him about it. but he can't make the spend on both. i told him to try and combine in 6 months for a massive 60k limit on 1 card.

Re: What's so good about the Venture?

Anonymous — Sun, 12 Jul 2015 22:54:42 GMT

@Italiannyc17 wrote:
Wait what? 720 score is 20,000 limit? If that was the case I would apply right now. I highly doubt that

Go for it!

Re: What's so good about the Venture?

Sharingan — Sun, 12 Jul 2015 23:00:53 GMT

@core wrote:
Can someone help me to understand this? Lately around here I've been hearing a lot of talk about people applying for or wanting the Venture. I'm just now starting to do my research and it's going to take me several days to get through all the recent threads. I'm going to read all of them but I may get antsy and apply for something before then.

I understand that your venture miles can be redeemed for statement credits on travel. You get 2x miles on all purchases. But wouldn't 2% from Citi DC or Fidelity Amex be the same thing but way better? Even if you travel all the time, having the option to spend your points elsewhere can't be a bad thing right? Plus the Venture has an AF. So from where I'm sitting, the Venture looks way worse than Citi DC or Fido Amex even if you travel. What am I missing here?

The signup bonus makes it worth the triple pull just barely, so I may apply if I can think of a good reason. Convince me to apply for this card! I don't care about a high limit on a card that won't be my main spender and has a high APR... I have 0% util so padding limits isn't useful to me. Is that the only reason people are going nuts over this card?

It's just a phase that will pass, just like BBVA, BP Visa, Diners Club, NASA, and every other card that becomes a must-have around here.

You are absolutely correct. The Citi DC/Fidelity AmEx are better alternatives for customers who can qualify for them. I have my reasons for having a Venture card ($400 and avoided the triple pull), but I will say that my Citi DC will be around much longer than my Capital One Venture will. It doesn't make sense to pay for 2% when it is complimentary elsewhere. Sure the card has a few perks like no FTF, but that too is inclusive on many cards with no AF.

Lastly, Capital One will provide to some applicants what Citi and Fidelity/FIA won't. That is their business model, and they certainly apply it to the Venture card as well. I think consolidation will be the biggest reason to apply for it for the next few months.

Re: What's so good about the Venture?

yfan — Sun, 12 Jul 2015 22:59:27 GMT

@core wrote:
Can someone help me to understand this? Lately around here I've been hearing a lot of talk about people applying for or wanting the Venture. I'm just now starting to do my research and it's going to take me several days to get through all the recent threads. I'm going to read all of them but I may get antsy and apply for something before then.

I understand that your venture miles can be redeemed for statement credits on travel. You get 2x miles on all purchases. But wouldn't 2% from Citi DC or Fidelity Amex be the same thing but way better? Even if you travel all the time, having the option to spend your points elsewhere can't be a bad thing right? Plus the Venture has an AF. So from where I'm sitting, the Venture looks way worse than Citi DC or Fido Amex even if you travel. What am I missing here?

It is for this very reason I don't have a Venture. Yes, they are giving huge limits, but I already have a Double Cash, and it and the QS suffice plenty enough for my non-category spend. My DC was changed from a Dividend though, and there are tons of stories of Citi giving out 1k limits with the allure of a great reward at no annual fee.

So the high limit is one reason to get the Venture - if you are apping fresh and don't already carry a DC. Another is that the Venture is a Visa Signature card, and you get all the benefits of carrying a VS. Third, and this is where the Venture takes the cake as a travel card: No FTF. Citi charges you 3%. So while their domestic rewards structure is pretty much the same, You still get 2% on the Venture when you are abroad, whereas you pay 1% extra (roughly - 3% FTF minus 2% rewards).

Re: What's so good about the Venture?

CH-7-Mission-Accomplished — Sun, 12 Jul 2015 23:14:51 GMT

Reasons I LOVE the Venture card

High starting limits for marginal FICO scores (I got 10K on Venture and 10K on Venture One and Had 3.5K on QS)

You will soon be able to combine all your cards onto your Venture when they put the app back up.

It pays you 2% cash to be used on travel related expenses. Let's say you can charge 10K a month on the card. That is $200/month and $2400 a year. How many family vacations can you take for $2400? Not many. I bet most people spend $2400 on one modest vacation. And this is $2400/year on 10K of charges (which is probably 30K in monthly income). These folks spend twice $2400 on one vacation easily.

I would take the card if I could only get the cash back as a food credit for groceries. I don't care as long as I would spend that much in a year (or several years).

They immediately credit your money when the charge posts. No fighting like with Diners to actually get your points.

No minimum redemption level.

And I will bet you dollars to dounuts that if you put a lot of spend on this card over a year, they will be only too happy to waive the measly $59 fee.

I intend to consolidate all three cards into by Venture, and open another Venture and another Venture One. Then combine them all into my 50K Venture.

For Heaven's sake, if you charge 5K a month on it, that's $100/month or $1200/year. So what if you can only use it for travel. Have you priced two roundtrip coach tickets to Hawaii from the West Coast? What does it cost to fly a family of four to Orlando, stay in a so-so hotel for a week, and pay for all the incidentals? Yes, folks, more than $1200.

And Citi DC loves to give 2K limits or 3K limits. Pure crap. And Fidelity is an AMEX which is not as readily accessible.

I think the Venture is the best cash back card on the market today.