topic Re: Big Starting Limits on Venture One? in Credit Cards

Big Starting Limits on Venture One?

Anonymous — Sun, 06 Mar 2016 23:31:41 GMT

Hey everyone! I currently have 4 Capital One cards that they are refusing to let me combine. I have 2 Quicksilver, One Venture 1 and One Regular Venture. I went into the pre qualifier and saw that the Venture one and the Visa Signature Quiksilver was available... Again. Obviously I don't want three of the same Quicksilver cards. I am just wondering what the usual starting limit is for the Venture one? Mine was $3,000 at the time. My credit has improved a lot since then. The reason why I don't want the Venture right now is because I already have one, and because the annual fee. Also the Venture has no 0% offer. 0% until 2017 sounds great to me. I realize you get better miles with the other card but I really like a 0% until February 2017 and the bonus is still fair at $200. I may not even apply, just wondering where this card compares to the Venture with SL? What was your SL? 😉

Re: Big Starting Limits on Venture One?

FinStar — Sun, 06 Mar 2016 23:42:39 GMT

IIRC, VentureOne SLs start in the $3K territory whereas Venture minimum SLs are $5K. SLs are obviously going to depend on a lot of factors on your profile including income, etc. My Venture and QS were both approved last year with SLs $50K on each. I haven't seen anyone with a V1 with that same SL though (since it would behove most folks to go Venture vs V1 given the bonus/promo). I have seen V1s in the $10K and $20K territory though.

Re: Big Starting Limits on Venture One?

OmarGB9 — Sun, 06 Mar 2016 23:43:02 GMT

VentureOne starts at $3k and doesn't yield nearly as high a limit as a regular Venture would.

Re: Big Starting Limits on Venture One?

Anonymous — Sun, 06 Mar 2016 23:49:32 GMT

wait wait wait.. you have FOUR cap 1 cards INCLUDING the venture AND venture one. please tell me why this is a good offer? they're already not allowing you to combine so why would it be any different if you get yet another? and you already realize it isn't a helpful card other than the 0% APR.. that's not a good reason for that considering you already have the same thing. do you need a BT card or... help us out with your reasoning please.

Re: Big Starting Limits on Venture One?

Anonymous — Sun, 06 Mar 2016 23:51:08 GMT

and the minimums are stated but people still get $10-$15k venture one cards but you'll typically get higher venture than venture one approvals.

Re: Big Starting Limits on Venture One?

FinStar — Sun, 06 Mar 2016 23:55:42 GMT

@Anonymous wrote:
and the minimums are stated but people still get $10-$15k venture one cards but you'll typically get higher venture than venture one approvals.

Right. And, it would also depend how much more Capital One would be willing to lend given the OP's recent approvals and current CLs. So, it's not like a magic hat of endless CLs.

Re: Big Starting Limits on Venture One?

Anonymous — Sun, 06 Mar 2016 23:59:48 GMT

lol yeah ^^ i mean with 4 cards i wouldn't keep trying your luck unless you just want to juggle 5 cards on 2 rewards programs with 1 lender. that's a mess. i would just sit on them and wait until you can combine the way you want to.

Re: Big Starting Limits on Venture One?

Loquat — Mon, 07 Mar 2016 00:05:21 GMT

I have (2) VentureOne cards...app'd back to back...one was approved at $7500 and the other was $10K. Both have received auto luv but not very much which I'm totally okay with.

Re: Big Starting Limits on Venture One?

Anonymous — Mon, 07 Mar 2016 01:12:39 GMT

There are TONS of easier ways to get big limits without succumbing to capital ones triple punch scheme. Look into a credit union, American Express, or Bank of America. Citi, maybe.

Request CLIs on all the cap1 cards u have now, and convert/combine them into one product. Close the others down that are low limit and/or have an annual fee.

What are your scores, inquiries, aaoa, and utilization?

Re: Big Starting Limits on Venture One?

Anonymous — Mon, 07 Mar 2016 01:15:04 GMT

just to be clear, you're telling OP to not get a triple hard pull with cap1 for a big limit but to get potentially 3 on citi? lol. they usually (usually) double pull for their cards and give you a nice crap limit then you get another hard pull for a usable one. sound advice.

Re: Big Starting Limits on Venture One?

FinStar — Mon, 07 Mar 2016 01:15:24 GMT

@Anonymous wrote:
There are TONS of easier ways to get big limits without succumbing to capital ones triple punch scheme. Look into a credit union, American Express, or Bank of America. Citi, maybe.

Request CLIs on all the cap1 cards u have now, and convert/combine them into one product. Close the others down that are low limit and/or have an annual fee.

What are your scores, inquiries, aaoa, and utilization?

Except the OP has a BK on their profile and may definitely limit the opportunity landscape as far as AmEX, Citi, BOA and definitely a variety of other CUs.

Re: Big Starting Limits on Venture One?

kdm31091 — Mon, 07 Mar 2016 01:16:57 GMT

@Anonymous wrote:
There are TONS of easier ways to get big limits without succumbing to capital ones triple punch scheme. Look into a credit union, American Express, or Bank of America. Citi, maybe.

Request CLIs on all the cap1 cards u have now, and convert/combine them into one product. Close the others down that are low limit and/or have an annual fee.

What are your scores, inquiries, aaoa, and utilization?

The triple pull is not ideal, I agree, but realistically, it's also not that big of a deal. Many banks, including Chase and Citi, often double pull EX + EQ anyway, so really, one more pull on a lesser used bureau (TU) is not that big of a deal.

Not saying I'm a huge Capital One fan, far from it, but the triple pull is overhyped. If you aren't applying for cards super often, it's not going to be a big problem.

That said, I agree with the suggestion of consolidating OP's cards.

I do find it a bit funny you are so against a triple pull but are often encouraging people to apply for multiple cards, which would result in more pulls!

Re: Big Starting Limits on Venture One?

Anonymous — Mon, 07 Mar 2016 01:16:49 GMT

and before saying "and ditch your AF cards" how about we learn why they have them and the usability they may or may not provide. keep in mind there aren't many "blanket" statements that can be good advice on this site.

Re: Big Starting Limits on Venture One?

Anonymous — Mon, 07 Mar 2016 02:50:38 GMT

@Anonymous wrote:
just to be clear, you're telling OP to not get a triple hard pull with cap1 for a big limit but to get potentially 3 on citi? lol. they usually (usually) double pull for their cards and give you a nice crap limit then you get another hard pull for a usable one. sound advice.

I am never telling anyone to do anything, its just advice, or an opinion, and as always YEMV/YMMV. I am no expert.

At least with other banks they can give bigger limits, send bt offers more often, and actually offer legit APR reductions...and also allow wiggle room to get an increase before a 6 month timer. I just feel as though capital one has its limitations. They are great with their rewards, they are easy and no hassle yes.... but they tend to box folks in, encouraging them to apply for multiple, even duplicate products when in all reality they could improve the terms of the current card. I dont like that the venture locks a person into redeeming only for travel (and yes their definition is more broad than most other banks but still). And to charge an AF on top of it.

My capital one quicksilver is sitting at a significantly lower limit, is basically locked into 25.24% APR, and that has my opinion biased. I also do not like that they always triple pull. I am ok in certain situations where a person could apply and get a venture and/or a quicksilver starting out. Or maybe its all they can get approved for, even a secured card. And hey if they want to get multiple bonuses then that is their perogative.

@kdm31091 wrote:
@Anonymous wrote:
There are TONS of easier ways to get big limits without succumbing to capital ones triple punch scheme. Look into a credit union, American Express, or Bank of America. Citi, maybe.

Request CLIs on all the cap1 cards u have now, and convert/combine them into one product. Close the others down that are low limit and/or have an annual fee.

What are your scores, inquiries, aaoa, and utilization?
The triple pull is not ideal, I agree, but realistically, it's also not that big of a deal. Many banks, including Chase and Citi, often double pull EX + EQ anyway, so really, one more pull on a lesser used bureau (TU) is not that big of a deal.

Not saying I'm a huge Capital One fan, far from it, but the triple pull is overhyped. If you aren't applying for cards super often, it's not going to be a big problem.

That said, I agree with the suggestion of consolidating OP's cards.

I do find it a bit funny you are so against a triple pull but are often encouraging people to apply for multiple cards, which would result in more pulls!

Based on the amount of inquiries I have, I am starting to realize they do not matter as much. My personal preference/view is... there is a difference between getting two capital one cards for 3 inquiries and getting 2 amex cards and 2 chase cards for 2 or 3 inquiries.

I view capital one as a last effort. They are known for sticking with a person through thick and thin, so there is that...good customer service, fast rewards (which I do use from time to time)... But in this situation where the person already has multiple cards, it just doesn't make sense. If they did have some negative things from their past and there was no other way, then by all means I would take advantage of cap1.

@Anonymous wrote:
and before saying "and ditch your AF cards" how about we learn why they have them and the usability they may or may not provide. keep in mind there aren't many "blanket" statements that can be good advice on this site.

This is true. It was a knee jerk reaction. Sometimes these cards help out a persons credit very much!

Re: Big Starting Limits on Venture One?

kdm31091 — Mon, 07 Mar 2016 03:00:08 GMT

Capital One is hardly the only issuer who "locks people in". By spending on an Amtrack card for example, you are locked in, pretty much, to redeeming towards Amtrack purchases. People who have Hhonors cards, Aadvantage, whatever...you're locked in to the program. This is why so many options exist. One has to decide which system works best for them.

Now by no means do I think Venture is a great product, as 2% cash back can be had with no annual fee and no restrictions, but it's not like the "locking in" to a certain thing is unique to Capital One. In fairness, though, compared to similar products like Arrival or BOA Travel, at least Venture allows full-value gift card redemption, whereas the latter two give you a poor value for ANYTHING that isn't travel.

I agree that Capital One's refusal to improve terms for people is annoying/unfortunate, but the same thing can be said for Chase. They will never lower one's APR and CLIs are mostly HP. I guess we all have issuers we dislike.

Re: Big Starting Limits on Venture One?

FinStar — Mon, 07 Mar 2016 03:09:01 GMT

@kdm31091 wrote:
Capital One is hardly the only issuer who "locks people in". By spending on an Amtrack card for example, you are locked in, pretty much, to redeeming towards Amtrack purchases. People who have Hhonors cards, Aadvantage, whatever...you're locked in to the program. This is why so many options exist. One has to decide which system works best for them.

Now by no means do I think Venture is a great product, as 2% cash back can be had with no annual fee and no restrictions, but it's not like the "locking in" to a certain thing is unique to Capital One. In fairness, though, compared to similar products like Arrival or BOA Travel, at least Venture allows full-value gift card redemption, whereas the latter two give you a poor value for ANYTHING that isn't travel.

I agree that Capital One's refusal to improve terms for people is annoying/unfortunate, but the same thing can be said for Chase. They will never lower one's APR and CLIs are mostly HP. I guess we all have issuers we dislike.

I agree with KDM, at least in my experience with Capital One dating back to the mid-90's. I never felt "boxed" or "locked in". Now, for others who are building or rebuilding, there can be that sticky side of being segmented into a tier or product that has limited growth or other potential, but to an extent. For instance, Capital One reintroduced their account combination feature (subject to avilability for some) but their overall competitive APRs, high SLs (for those who qualify), 1.5% C/B on QS (and others) is hardly being locked in IMO.

You can definitely find several anecdotal experiences where individuals ditched their previous stagnant Capital One CCs (high APRs, low CLs) in favor of combining with more recent products like QS, Venture, V1; thus growing the combined CL and perhaps a much lower APR. Not every bank/lender will work for everyone.

That being said, and as I mentioned upthread, the OP's profile has a BK. Not a deterrent by any means, and while she has been able to rebuild her portfolio, AmEx, Citi, BOA or others would be far out of reach for the time being. Now the BK is not listed in the OP's signature but has been mentioned in several, and I mean several, of her other threads.

Re: Big Starting Limits on Venture One?

Andy77 — Mon, 07 Mar 2016 23:17:48 GMT

My venture starting was 20k now 23k

Re: Big Starting Limits on Venture One?

Anonymous — Tue, 08 Mar 2016 01:20:51 GMT

Thanks for all the advice-- Many points here. #1 Yes triple pulls are kind of annoying, but not annoying enough for me to not apply. #2 I love Cap1 I also don't feel boxed in or anything. They've been great to me #3 One of the reasons for getting a Venture or Venture 1 is the bonus. I apped for both at the same time although their system was down! $600 in travel is gold especially since I work for IHG and get amazing discounts. That's 12 free nights at the Crowne Plaza or IHG. #4 I can't apply for any other good offers from other banks. I burned Citi, BOA, plus I hate Citi. Chase & Amex don't like me because of BK. :-)

Re: Big Starting Limits on Venture One?

Anonymous — Tue, 08 Mar 2016 02:12:39 GMT

@Andy77 wrote:

My venture starting was 20k now 23k

Except they're asking about the Venture One.

Re: Big Starting Limits on Venture One?

ddemari — Tue, 08 Mar 2016 02:41:07 GMT

I had a prequal for venture and ventureone in 2014, took the ventureone and was approved for 5k. Then in 2015 with similar profile had the same prequals again, this time took venture and was approved at 15k.