topic Re: Capital One PC Question: Venture to Quicksilver in Credit Cards

Capital One PC Question: Venture to Quicksilver

Absolution16 — Mon, 05 Sep 2016 20:56:01 GMT

I am thinking about applying for a CapitalOne Venture card for the mighty $400 bonus and the inevitable hotel/motel spending in exactly 3 months.

However, over the long term, I don't see the use of the card after meeting the minimum spend. My current spending per month is about $1,200 on credit cards. My main card has been AMEX Everyday Preferred. I put about $550 a month on grocery spending, and another $200 or so on gas, which makes my situation perfect for this particular card. I also have no problem meeting the 30-transaction requirement for the 50% bonus, which means that I am effectively getting 4.5% on groceries and 3% on gas, which is phenomenal, to say the least.

The only issue with that AMEX card is that sometimes, it isn't accepted, and I have to pull something else out. I have Chase Freedom and Barclay Arrival WMC (the no-annual fee version that gets 2x on dining and travel only), but I only use the Freedom for the bonus categories only, and the Barclay I hardly ever use at all.

I do travel once or twice a year out of the country for 2-3 weeks at a time, so I want a cashback card with no FTF. That to me, seems to be either Discover It Miles or Cap1 Quicksilver, though due to the fact that Discover also has issues with acceptance at times, I think QS is the way to go.

But I've been thinking... if it is possible to do a product change (PC) from Venture to Quicksilver when the time to pay the AF comes due, it might be beneficial to apply for Venture, get the sign up bonus, use it as much as possible, and then change it to QS. I don't want to apply for both, as I have no need for 2 more.

With recent credit limit increase from 6k to 18k on the AMEX EDP, with 751/776/779 FICO scores, I am thinking I may have a good shot at getting approved. I just want to see if anyone has ever had any success PCing from Venture to Quicksilver? I've seen many threads of PCing Cap1 products, but almost all of them seem to be about switching from Platinum to QS or QS1 to QS or QS to Venture. But I haven't seen any stories of PCing from Venture to QS.

Any thoughts?

Re: Capital One PC Question: Venture to Quicksilver

kdm31091 — Mon, 05 Sep 2016 21:11:55 GMT

Yes you can go ahead with your plan. Many have achieved a PC from a Venture to QS although there's never a guarantee of being able to do it.

I agree that in the long run there's not much point to keeping/using the Venture, but it's a good card for a bonus.

Re: Capital One PC Question: Venture to Quicksilver

UncleB — Mon, 05 Sep 2016 21:48:33 GMT

@kdm31091 wrote:
Yes you can go ahead with your plan. Many have achieved a PC from a Venture to QS although there's never a guarantee of being able to do it.

I agree that in the long run there's not much point to keeping/using the Venture, but it's a good card for a bonus.

While technically it's not 'guaranteed' many/most people have no problems getting a Venture PC'd to a Quicksilver.

Also, occasionally someone will report getting the Venture AF waived, but it's been a while since I've read that and IMO it would be easier to get it PC'd to a QS.

If you're going to spend roughly $12k+ per year on the card it would be better to keep it as a Venture (vs. QS) but as others will point out there are other 2% cards that have no AF, and with your scores you would have no problem getting one.

Re: Capital One PC Question: Venture to Quicksilver

Absolution16 — Mon, 05 Sep 2016 23:29:39 GMT

@kdm31091 wrote:
Yes you can go ahead with your plan. Many have achieved a PC from a Venture to QS although there's never a guarantee of being able to do it.

I agree that in the long run there's not much point to keeping/using the Venture, but it's a good card for a bonus.

I am afraid that they might have some specific rules about PCing...i.e. "you can only PC in the same product category" type of thing. Since QS and Venture are different products, they may refuse to do it? But it is good to know that there are evidences of success. Thank you for your input!

Re: Capital One PC Question: Venture to Quicksilver

UncleB — Mon, 05 Sep 2016 23:43:18 GMT

@Absolution16 wrote:
@kdm31091 wrote:
Yes you can go ahead with your plan. Many have achieved a PC from a Venture to QS although there's never a guarantee of being able to do it.

I agree that in the long run there's not much point to keeping/using the Venture, but it's a good card for a bonus.
I am afraid that they might have some specific rules about PCing...i.e. "you can only PC in the same product category" type of thing. Since QS and Venture are different products, they may refuse to do it? But it is good to know that there are evidences of success. Thank you for your input!

It will be fine.

There is a restriction on PCing if you have a co-branded card, but Venture, Quicksilver, and Platinum are able to PC with no problem.

It is true that you can't change networks, i.e. you can't change from Visa to MasterCard, but since Venture and Quicksilver exist in both Visa and MasterCard there's no problem there.

Re: Capital One PC Question: Venture to Quicksilver

Absolution16 — Mon, 05 Sep 2016 23:49:41 GMT

@UncleB wrote:
@kdm31091 wrote:
Yes you can go ahead with your plan. Many have achieved a PC from a Venture to QS although there's never a guarantee of being able to do it.

I agree that in the long run there's not much point to keeping/using the Venture, but it's a good card for a bonus.
+1

While technically it's not 'guaranteed' many/most people have no problems getting a Venture PC'd to a Quicksilver.

Also, occasionally someone will report getting the Venture AF waived, but it's been a while since I've read that and IMO it would be easier to get it PC'd to a QS.

If you're going to spend roughly $12k+ per year on the card it would be better to keep it as a Venture (vs. QS) but as others will point out there are other 2% cards that have no AF, and with your scores you would have no problem getting one.

Thank you for your input UncleB.

It is nice to see that there are evidences of success in the PC that I will eventually be seeking a year from now.

I'd like your input on this if you don't mind:

I have used credit cards when I was young, but stopped using them and closed them all down by 2008. My current credit cards have all been opened this year. Even though I have no negatives and relatively good FICO scores across all 3 bureaus, the AAoA is only barely above 3 years, despite the fact that my oldest account age is showing 10 years due to the fact that the bureaus are still reporting the old closed credit card accounts that have been closed for 8 years now.

Come 2018, all those old closed accounts will be wiped out of the CRs, and my AAoA will take a drastic hit. So my mindset is to open up accounts sooner than later so that by the time I take the hit to my AAoA, it won't be as drastic. However, my mindset is to only open accounts that I want to keep. I do not want to open accounts only to later close them because I have no need for them. Opening the Barclay Arrival card was a mistake, but I did take advantage of the $200 travel redemption from sign up bonus, and I can SD it for occasional use, so it is no big deal. With the Venture card, $12k or above annual spending makes it more desirable than the QS, but I probably won't hit that spending mark due to the fact that I will also be using my AMEX EDP card along with it.

Therefore, it is imperative for me to find out that it is at least possible to have it PCed to a QS before applying for it.

As I understand, there are 2% Cashback cards with no AF like the Citi DC and Blispay Visa, but what I'd need is a card that charges NO AF & NO FTF that is eitther a UR, MR, flat rate travel card, or a cashback card. That leaves me with Discover it Miles (acceptance issue is a problem) and Cap1 QS. And its purpose will only be to use it when I can't or don't want to use my 2 main cards:

Chase Freedom: when 5% bonus category is active (transfer points to UR points via Sapphire Preferred)

AMEX EDP: when AMEX is accepted (earn MR points)

So this card will only see use when I am either traveling abroad, or when the above-stated conditions are not met.

If I app for the Venture, I will most likely use it upto a point where I will be able to redeem as many miles as possible so that I don't lose out on my accumulated bonus. Beyond that, it will only be a rarely-used card but still useful once I PC it to QS.

So in summary, QS is what I really want for the long-term. I would just app for it under normal circumstances, but if PC is possible from Venture, then I might as well take advantage of its sign-up bonus and transfer the supposedly-higher CL to the QS when the time comes.

Any thoughts on this? Your feedback would prove very helpful and appreciated.

Re: Capital One PC Question: Venture to Quicksilver

Absolution16 — Mon, 05 Sep 2016 23:56:27 GMT

@UncleB wrote:
@Absolution16 wrote:
@kdm31091 wrote:
Yes you can go ahead with your plan. Many have achieved a PC from a Venture to QS although there's never a guarantee of being able to do it.

I agree that in the long run there's not much point to keeping/using the Venture, but it's a good card for a bonus.
I am afraid that they might have some specific rules about PCing...i.e. "you can only PC in the same product category" type of thing. Since QS and Venture are different products, they may refuse to do it? But it is good to know that there are evidences of success. Thank you for your input!
It will be fine.

There is a restriction on PCing if you have a co-branded card, but Venture, Quicksilver, and Platinum are able to PC with no problem.

It is true that you can't change networks, i.e. you can't change from Visa to MasterCard, but since Venture and Quicksilver exist in both Visa and MasterCard there's no problem there.

One quick question:

If those cards exist in both networks, are you able to choose between the 2 or do they assign to you? I'd prefer a VISA over MasterCard.

I have heard of Venture Visa Signature cards but never heard of Venture World (or World Elite) Mastercards before.....

Re: Capital One PC Question: Venture to Quicksilver

kdm31091 — Tue, 06 Sep 2016 00:04:43 GMT

If you apply directly on Capital One's website you will get the Visa version. Affiliate links like Credit Karma will give you the Mastercard. But you cannot switch between the two.

Re: Capital One PC Question: Venture to Quicksilver

Absolution16 — Tue, 06 Sep 2016 00:23:43 GMT

@kdm31091 wrote:
If you apply directly on Capital One's website you will get the Visa version. Affiliate links like Credit Karma will give you the Mastercard. But you cannot switch between the two.

Wow... that is really strange. You are right... I checked out both the Cap1 website and the affiliated links through Credit Karma, and I see 2 different versions!

The only reason I said I preferred VISA or MC was the fact that Costco accepts only VISA.

But their high-tier products, Signature and World Elite respectively, seem very comparable to each other.

Re: Capital One PC Question: Venture to Quicksilver

UncleB — Tue, 06 Sep 2016 00:48:36 GMT

@Absolution16 wrote:
@UncleB wrote:
@kdm31091 wrote:
Yes you can go ahead with your plan. Many have achieved a PC from a Venture to QS although there's never a guarantee of being able to do it.

I agree that in the long run there's not much point to keeping/using the Venture, but it's a good card for a bonus.
+1

While technically it's not 'guaranteed' many/most people have no problems getting a Venture PC'd to a Quicksilver.

Also, occasionally someone will report getting the Venture AF waived, but it's been a while since I've read that and IMO it would be easier to get it PC'd to a QS.

If you're going to spend roughly $12k+ per year on the card it would be better to keep it as a Venture (vs. QS) but as others will point out there are other 2% cards that have no AF, and with your scores you would have no problem getting one.
Thank you for your input UncleB.

It is nice to see that there are evidences of success in the PC that I will eventually be seeking a year from now.

I'd like your input on this if you don't mind:

I have used credit cards when I was young, but stopped using them and closed them all down by 2008. My current credit cards have all been opened this year. Even though I have no negatives and relatively good FICO scores across all 3 bureaus, the AAoA is only barely above 3 years, despite the fact that my oldest account age is showing 10 years due to the fact that the bureaus are still reporting the old closed credit card accounts that have been closed for 8 years now.

Come 2018, all those old closed accounts will be wiped out of the CRs, and my AAoA will take a drastic hit. So my mindset is to open up accounts sooner than later so that by the time I take the hit to my AAoA, it won't be as drastic. However, my mindset is to only open accounts that I want to keep. I do not want to open accounts only to later close them because I have no need for them. Opening the Barclay Arrival card was a mistake, but I did take advantage of the $200 travel redemption from sign up bonus, and I can SD it for occasional use, so it is no big deal. With the Venture card, $12k or above annual spending makes it more desirable than the QS, but I probably won't hit that spending mark due to the fact that I will also be using my AMEX EDP card along with it.

Therefore, it is imperative for me to find out that it is at least possible to have it PCed to a QS before applying for it.

As I understand, there are 2% Cashback cards with no AF like the Citi DC and Blispay Visa, but what I'd need is a card that charges NO AF & NO FTF that is eitther a UR, MR, flat rate travel card, or a cashback card. That leaves me with Discover it Miles (acceptance issue is a problem) and Cap1 QS. And its purpose will only be to use it when I can't or don't want to use my 2 main cards:

Chase Freedom: when 5% bonus category is active (transfer points to UR points via Sapphire Preferred)
AMEX EDP: when AMEX is accepted (earn MR points)

So this card will only see use when I am either traveling abroad, or when the above-stated conditions are not met.

If I app for the Venture, I will most likely use it upto a point where I will be able to redeem as many miles as possible so that I don't lose out on my accumulated bonus. Beyond that, it will only be a rarely-used card but still useful once I PC it to QS.

So in summary, QS is what I really want for the long-term. I would just app for it under normal circumstances, but if PC is possible from Venture, then I might as well take advantage of its sign-up bonus and transfer the supposedly-higher CL to the QS when the time comes.

Any thoughts on this? Your feedback would prove very helpful and appreciated.

To address your main concern, if it were me I would also apply for the Venture (due to the bonus) and later have it changed to a Quicksilver. KDM and I had to mention that PCs are 'YMMV', but historically with Capital One most people have little trouble, especially if you're starting with a Venture (generally it's the people starting with a Platinum or QS1 who have problems with an 'offer' not being available).

You'll get plenty of good feedback, but it sounds to me like you have the right idea. I'm in a similar situation credit-wise... my scores are also 760-ish, and I also have a few old accounts still reporting that for the moment are still propping up my AAoA. In my case it's an old PIF mortgage and a couple of student loans, and those are older than my other accounts by 8+ years. My AAoA is also around 4 years, give or take.

There are plenty of people on here who 'collect' cards and have relatively low AAoA, and still have no trouble getting what they want, so I would't be too concerned about it - you're in pretty good shape. Like you, I'm trying to only get cards to keep for 'the long haul', and I'm trying to make sure any new acquisitions will have a permanent use.

I'll also say that for your overseas needs, I think the Venture (and eventually QS) are fantastic choices... no FTF is a must, and Capital One has always been extremely reliable for me. Just let them know when and where you're heading when the time comes, and you should have no problems... it just works. I'll also mention that my handful of contacts with them over the last few years have been extremely positive as well, so should the need arise you should be in good hands.

I don't have any Chase products, so I can't speak to UR points, but I do have Amex, and I know there are many on here who are able to make good use of their MR points. I have their PRG for reasons unrelated to rewards, but I will say the MR program is strong for frequent travelers (or for infrequent ones who like to save up points). I prefer cash back, and the BCP is a good fit for me, but I must mention there's a caveat with it... the BCP cash back takes a while to post - that card definitely isn't for the impatient. In my case I save up all my rewards anyway, so the extra month (or two) is certainly a nuisance but not a show-stopper.

One more thing about Venture... while Capital One uses the term 'miles' in their marketing, it's not miles in the sense that most people are used to - you can't transfer to airline or hotel partners. Venture is really a 2% card, but the way you redeem 'miles' is against travel charges on your statement. You can also use your 'miles' to buy gift cards without losing value. It's possible to get cash or a statement credit for non-travel charges, but I think (?) in that case you only get 1% (instead of 2%) so that usually isn't wise. Once the card is changed to a Quicksilver, you can redeem rewards at full value for a statement credit or even a paper check - there's not even a minimum amount they require you to build up.

Finally, I'll just mention that I have the Discover It card, and while I love it for the categories I wouldn't depend on it overseas... acceptance will be sporadic at best. My understanding of the Discover Miles card is that it's basically a 1.5% card with redemption restricted to statement credit for travel charges (similar to Venture) or cash at full value but with no 5% categories... in my 'humble' opinion it would be better to get the 'It' and take advantage of the category bonuses unless you have specific needs for the 'Miles' card. (Note that I think there's an airline wi-fi benefit as well to the Discover Miles, but for most the 'It' is a better deal).

Good luck with your Venture application... although with your scores luck won't be necessary at all. On the Capital One website you'll find the app for the Visa, and if you dig around a little bit on here you'll find the application for the Venture WEMC if you would prefer MasterCard... in either case, which ever you start with will be what you keep when you change to Quicksilver.

Hope this helps!

Edit: Corrected to show Discover Miles rewards can be redeemed for statement credit for travel charges, or cash at full value. Shout-out to KDM for the correction.

Re: Capital One PC Question: Venture to Quicksilver

kdm31091 — Tue, 06 Sep 2016 00:40:24 GMT

@UncleB wrote:
@Absolution16 wrote:
@UncleB wrote:
@kdm31091 wrote:
Yes you can go ahead with your plan. Many have achieved a PC from a Venture to QS although there's never a guarantee of being able to do it.

I agree that in the long run there's not much point to keeping/using the Venture, but it's a good card for a bonus.
+1

While technically it's not 'guaranteed' many/most people have no problems getting a Venture PC'd to a Quicksilver.

Also, occasionally someone will report getting the Venture AF waived, but it's been a while since I've read that and IMO it would be easier to get it PC'd to a QS.

If you're going to spend roughly $12k+ per year on the card it would be better to keep it as a Venture (vs. QS) but as others will point out there are other 2% cards that have no AF, and with your scores you would have no problem getting one.
Thank you for your input UncleB.

It is nice to see that there are evidences of success in the PC that I will eventually be seeking a year from now.

I'd like your input on this if you don't mind:

I have used credit cards when I was young, but stopped using them and closed them all down by 2008. My current credit cards have all been opened this year. Even though I have no negatives and relatively good FICO scores across all 3 bureaus, the AAoA is only barely above 3 years, despite the fact that my oldest account age is showing 10 years due to the fact that the bureaus are still reporting the old closed credit card accounts that have been closed for 8 years now.

Come 2018, all those old closed accounts will be wiped out of the CRs, and my AAoA will take a drastic hit. So my mindset is to open up accounts sooner than later so that by the time I take the hit to my AAoA, it won't be as drastic. However, my mindset is to only open accounts that I want to keep. I do not want to open accounts only to later close them because I have no need for them. Opening the Barclay Arrival card was a mistake, but I did take advantage of the $200 travel redemption from sign up bonus, and I can SD it for occasional use, so it is no big deal. With the Venture card, $12k or above annual spending makes it more desirable than the QS, but I probably won't hit that spending mark due to the fact that I will also be using my AMEX EDP card along with it.

Therefore, it is imperative for me to find out that it is at least possible to have it PCed to a QS before applying for it.

As I understand, there are 2% Cashback cards with no AF like the Citi DC and Blispay Visa, but what I'd need is a card that charges NO AF & NO FTF that is eitther a UR, MR, flat rate travel card, or a cashback card. That leaves me with Discover it Miles (acceptance issue is a problem) and Cap1 QS. And its purpose will only be to use it when I can't or don't want to use my 2 main cards:

Chase Freedom: when 5% bonus category is active (transfer points to UR points via Sapphire Preferred)
AMEX EDP: when AMEX is accepted (earn MR points)

So this card will only see use when I am either traveling abroad, or when the above-stated conditions are not met.

If I app for the Venture, I will most likely use it upto a point where I will be able to redeem as many miles as possible so that I don't lose out on my accumulated bonus. Beyond that, it will only be a rarely-used card but still useful once I PC it to QS.

So in summary, QS is what I really want for the long-term. I would just app for it under normal circumstances, but if PC is possible from Venture, then I might as well take advantage of its sign-up bonus and transfer the supposedly-higher CL to the QS when the time comes.

Any thoughts on this? Your feedback would prove very helpful and appreciated.
To address your main concern, if it were me I would also apply for the Venture (due to the bonus) and later have it changed to a Quicksilver. KDM and I had to mention that PCs are 'YMMV', but historically with Capital One most people have little trouble, especially if you're starting with a Venture (generally it's the people starting with a Platinum or QS1 who have problems with an 'offer' not being available).

You'll get plenty of good feedback, but it sounds to me you have the right idea. I'm in a similar situation credit-wise... my scores are also 760-ish, and I also have a few old accounts still reporting that for the moment are still propping up my AAoA. In my case it's an old PIF mortgage and a couple of student loans, and those are older than my other accounts by 8+ years. My AAoA is also around 4 years, give or take.

There are plenty of people on here who 'collect' cards and have relatively low AAoA, and still have no trouble getting what they want, so I would't be too concerned about it - you're in pretty good shape. Like you, I'm trying to only get cards to keep for 'the long haul', and I'm trying to make sure any new acquisitions will have a permanent use.

I'll also say that for your overseas needs, I think the Venture (and eventually QS) are fantastic choices... no FTF is a must, and Capital One has always been extremely reliable for me. Just let them know when and where you're heading when the time comes, and you should have no problems... it just works. I'll also mention that my handful of contacts with them over the last few years have been extremely positive as well, so should the need arise you should be in good hands.

I don't have any Chase products, so I can't speak to UR points, but I do have Amex, and I know there are many on here who are able to make good use of their MR points. I have their PRG for reasons unrelated to rewards, but I will say the MR program is strong for frequent travelers (or for infrequent ones who like to save up points). I prefer cash back, and the BCP is a good fit for me, but I must mention there's a caveat with it... the BCP cash back takes a while to post - that card definitely isn't for the impatient. In my case I save up all my rewards anyway, so the extra month (or two) is certainly a nuisance but not a show-stopper.

One more thing about Venture... while Capital One uses the term 'miles' in their marketing, it's not miles in the sense that most people are used to - you can't transfer to airline or hotel partners. Venture is really a 2% card, but the way you redeem 'miles' is against travel charges on your statement. You can also use your 'miles' to buy gift cards without losing value. It's possible to get cash or a statement credit for non-travel charges, but I think (?) in that case you only get 1% (instead of 2%) so that usually isn't wise. Once the card is changed to a Quicksilver, you can redeem rewards at full value for a statement credit or even a paper check - there's not even a minimum amount they require you to build up.

Finally, I'll just mention that I have the Discover It card, and while I love it for the categories I wouldn't depend on it overseas... acceptance will be sporadic at best. My understanding of the Discover Miles card is that it's basically a 1.5% card with redemption restricted to travel (similar to Venture) but with no categories... in my 'humble' opinion it would be better to get the 'It' and take advantage of the category bonuses unless you have specific needs for the 'Miles' card. (Note that I think there's an airline wi-fi benefit as well to the Discover Miles, but for most the 'It' is a better deal).

Good luck with your Venture application... although with your scores luck won't be necessary at all. On the Capital One website you'll find the app for the Visa, and if you dig around a little bit on here you'll find the application for the Venture WEMC if you would prefer MasterCard... in either case, which ever you start with will be what you keep when you change to Quicksilver.

Hope this helps!

Discover Miles does allow full cashing out at the 1.5% rate. The only thing is you can only take a statement credit against travel purchases. But you can pull cash out with direct deposit at the full 1.5%.

Re: Capital One PC Question: Venture to Quicksilver

Absolution16 — Tue, 06 Sep 2016 00:43:13 GMT

Uncle B,

Thank you for your thoughtful and thorough input on this matter. It somehow makes me feel a lot better than before!

I am fully aware about the difference in "miles" offered by different card products. In Venture's case, it is just like a 2% cashback with their version of "miles" being equal to 1 cent a piece. What I like about UR points or MR points is that, by transfering 1:1 to an airline partner, you can redeem at pretty reasonable rate. I took advantage of that in my recent trip through UR points. If I were to use the equivalent number of "miles" from Cap1, it would have required a lot more spending. Hopefully, people realize this, because as I understand, Cap1's marketing is misleading.

As for the Discover it Miles card, it is not only just a travel redemption card, but it works just like the QS in that, you can redeem for cashback at any amount at any time. And you do get the cash redemption at 1 cent per mile, unlike the Venture which cuts the cash redemption value in half. So essentially, the it Miles card is just like a flat 1.5% cashback card. With no AF, no FTF, and even the $30 in-flight Wi-Fi credit, the card looks good. The downside is the acceptance, even domestically at times. I already have an AMEX card that has issues with acceptance at times, so I need my general backup card to be a VISA/MC.

As for the regular Discover it card? I already have the Chase Freedom so one rotating card is enough for me right now..

Thanks again! Btw... how is that Blispay card working for you? I was reading up the threads about that card a moment ago.....

Re: Capital One PC Question: Venture to Quicksilver

UncleB — Tue, 06 Sep 2016 00:45:25 GMT

@kdm31091 wrote:

Discover Miles does allow full cashing out at the 1.5% rate. The only thing is you can only take a statement credit against travel purchases. But you can pull cash out with direct deposit at the full 1.5%.

Great catch... and this is good to know! (I'll edit my post to reflect this)

Re: Capital One PC Question: Venture to Quicksilver

UncleB — Tue, 06 Sep 2016 00:59:23 GMT

@Absolution16 wrote:
Uncle B,

Thank you for your thoughtful and thorough input on this matter. It somehow makes me feel a lot better than before!

I am fully aware about the difference in "miles" offered by different card products. In Venture's case, it is just like a 2% cashback with their version of "miles" being equal to 1 cent a piece. What I like about UR points or MR points is that, by transfering 1:1 to an airline partner, you can redeem at pretty reasonable rate. I took advantage of that in my recent trip through UR points. If I were to use the equivalent number of "miles" from Cap1, it would have required a lot more spending. Hopefully, people realize this, because as I understand, Cap1's marketing is misleading.

As for the Discover it Miles card, it is not only just a travel redemption card, but it works just like the QS in that, you can redeem for cashback at any amount at any time. And you do get the cash redemption at 1 cent per mile, unlike the Venture which cuts the cash redemption value in half. So essentially, the it Miles card is just like a flat 1.5% cashback card. With no AF, no FTF, and even the $30 in-flight Wi-Fi credit, the card looks good. The downside is the acceptance, even domestically at times. I already have an AMEX card that has issues with acceptance at times, so I need my general backup card to be a VISA/MC.

As for the regular Discover it card? I already have the Chase Freedom so one rotating card is enough for me right now..

Thanks again! Btw... how is that Blispay card working for you? I was reading up the threads about that card a moment ago.....

So far I'm really liking Blispay... there are reports that for some people it has started reporting, but that was never a concern of mine anyway. I'll even go so far as to say that having it report can even be a positive in some cases, but that can be debated on another thread (LOL). The cash back is awesome, and the six month promo on anything $199+ is going to be nice when it's time to buy tires again.

Thanks for the clarification on Discover Miles... I was unaware until you and KDM mentioned how you can redeem rewards at full value as cash. I would say that in the first year (since Discover is running the 'double' promotion) that it would be a fantastic deal (3% 'general spend' card), but after that (for me) it would be simpler to just use a QS if I wanted 1.5% back (since Discover's acceptance isn't quite as strong as MC/V). I'm not going to throw shade on it, though... personally I use my Discover card for balance transfers and 'Discover Deals' as well (and their CSRs are among the best), so even if the categories went away I would still keep it around. I understand how having Freedom might be sufficent, though... having two category cards to 'shuffle' could get to be a handful.

When you apply for your Venture, be sure to start an approval thread to tell us all how it works out, and don't be a stranger on here, either. I've enjoyed reading your posts, and I can already tell you have much to add to the community!

Re: Capital One PC Question: Venture to Quicksilver

Absolution16 — Tue, 06 Sep 2016 01:37:20 GMT

Thanks Uncle B!

I am glad to hear that Blispay is working for you. I am unsure about the longevity of the card and its program, but I wish everyone the best for those like you who have the card. The financing deal seems fantastic!

As a side note, I applied for the Venture 20 minutes ago, and initially got the dreaded screen that said that they needed to verify more information. Within like a minute literally, their fraud department called to verify basic security information, and then approved me for 15k SL Visa.

One thing he said though: He said that I have 3 months from the day of the card activation to meet my spending requirement for the sign-up bonus. It is my understanding that the clock usually ticks from the day of your approval? If that's the case, I will be really happy to know that I am not losing out on the days while I am waiting for the card.

Re: Capital One PC Question: Venture to Quicksilver

UncleB — Tue, 06 Sep 2016 01:46:03 GMT

@Absolution16 wrote:
Thanks Uncle B!

I am glad to hear that Blispay is working for you. I am unsure about the longevity of the card and its program, but I wish everyone the best for those like you who have the card. The financing deal seems fantastic!

As a side note, I applied for the Venture 20 minutes ago, and initially got the dreaded screen that said that they needed to verify more information. Within like a minute literally, their fraud department called to verify basic security information, and then approved me for 15k SL Visa.

One thing he said though: He said that I have 3 months from the day of the card activation to meet my spending requirement for the sign-up bonus. It is my understanding that the clock usually ticks from the day of your approval? If that's the case, I will be really happy to know that I am not losing out on the days while I am waiting for the card.

Congrats on your approval!

I'll provide the link here for others: http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Capital-One-Venture-Approved/m-p/4740032

As for when the clock starts, I'm honestly not sure. Since you posted the question in your approval thread as well I'm sure some others on here will be able to provide feedback on how it worked out with them. In any case, it would definitely be nice if the clock started at activation rather than approval!

If you want a more definitive answer, you might consider giving them a call (or once you establish your online account you can online chat). While it's well-known on here that CSRs sometimes get things wrong, I always figure if I'm able to get the same answer from two (or three) different CSRs it's likely to be correct.

Again, congrats on your new card!

Re: Capital One PC Question: Venture to Quicksilver

kdm31091 — Tue, 06 Sep 2016 02:19:42 GMT

@Absolution16 wrote:
Thanks Uncle B!

I am glad to hear that Blispay is working for you. I am unsure about the longevity of the card and its program, but I wish everyone the best for those like you who have the card. The financing deal seems fantastic!

As a side note, I applied for the Venture 20 minutes ago, and initially got the dreaded screen that said that they needed to verify more information. Within like a minute literally, their fraud department called to verify basic security information, and then approved me for 15k SL Visa.

One thing he said though: He said that I have 3 months from the day of the card activation to meet my spending requirement for the sign-up bonus. It is my understanding that the clock usually ticks from the day of your approval? If that's the case, I will be really happy to know that I am not losing out on the days while I am waiting for the card.

With every card company that I'm aware of, the 90 days starts when the account is created/approved, not activation. You can double check, but this tends to mean that the window is really around 80 days by the time you actually get the card.

Re: Capital One PC Question: Venture to Quicksilver

bourgogne — Wed, 07 Sep 2016 04:37:35 GMT

OP, congrats + I am surprised that you only got 15K with your scores, something else must of factored into the equation but still well done. I did very much what your plan is – got the venture @ 20K and at 3 months got a 3K cli and then a pc to a qs vs a week ago. I had a 2 year old $ 300 platinum that was a pc to qs1 then wmc that grew into 12300 – I did a 2K cli on it yesterday and combined it into the qsvs – got $ 550 cash before the venture pc. 37,300 single card – not too shabby from the 500s 2 years ago next week. C1 is the best lender for a rebuild imo, they are super easy to deal with on all levels. Btw they said I could pc the venture from the moment I got it, fyi + ymmv I suppose

Re: Capital One PC Question: Venture to Quicksilver

Absolution16 — Wed, 07 Sep 2016 12:00:50 GMT

First, many thanks to Uncle B and KDM.

@bourgogne wrote:
@OP, congrats + I am surprised that you only got 15K with your scores, something else must of factored into the equation but still well done. I did very much what your plan is – got the venture @ 20K and at 3 months got a 3K cli and then a pc to a qs vs a week ago. I had a 2 year old $ 300 platinum that was a pc to qs1 then wmc that grew into 12300 – I did a 2K cli on it yesterday and combined it into the qsvs – got $ 550 cash before the venture pc. 37,300 single card – not too shabby from the 500s 2 years ago next week. C1 is the best lender for a rebuild imo, they are super easy to deal with on all levels. Btw they said I could pc the venture from the moment I got it, fyi + ymmv I suppose

Thank you! As for my starting limit, I am very happy with it, but if you think I could have gotten more, I suspect it due to my utilization ratio and the inquiries. After all, all of my current cards have been opened all this year, starting from January 31. So my file has a blatant weakness. I too, at the beginning of this year, had a Cap1 SECURED Mastercard with a $900 limit, and nothing else to show for. Lurking and reading, and eventually posting some questions on this forum has helped tremendously, and I think it is a huge improvement in 9-month time that I even got here. I couldn't thank the community here enough. If you are interested in my history, my previous posts would be pretty self explanatory.

And Kudos and congratulations to you as well! What turned out for you is incredible, and I wish you the best with your endeavors.

I have read on numerous occasions on this forum that people are combining their Cap1 accounts to make one super card with high limit. Some I have read that they applied for Venture One for the lower APR and eventually turned it into Venture or Quicksilver. I have way too many inquiries (7) this year alone, so even this app was a stretch, but I did it in anticipation of inevitable travel spend that I will be doing in late December, which makes the timing all too perfect.

I am also glad to hear that Cap1 was willing to PC your Venture from DAY 1, to QS. Sweet. That gives me hope as I am planning to PC it at least right after I meet the minimum spending requirement for the sign up bonus.

3 Questions for you though:

1. How long from the date of opening the Venture that did you PC it into QS?

2. You said you got $550 cash before the PC. Was it converted from your Venture miles? If so, was the conversion at the normal rate or the reduced rate? (i.e.: Venture miles are redeemable to cash at a half the normal rate) If 55,000 Venture miles turned into $550 into your QS, that would be awesome.

3. Instead of switching the Venture directly to QS, do you think it may be better for me to keep it for 11 months, apply for and open a QS, and then combine the two into a QS for the purpose of creating a yet even higher limit QS card? I am planning to garden for at least another 11 months from now (My 7 inquiries are enough), and of course, I would like to keep the history of the Venture at that point, so the card number that I would be seeking would be from the Venture, not the newly opened QS. And if I did this, how long from the date of opening the QS do you think Cap1 will allow me to combine? Really interested in hearing what you and everyone else would have to say about that.

Thank you for your feedback! Another encouraging sign for me.

Re: Capital One PC Question: Venture to Quicksilver

Shooting-For-800 — Wed, 07 Sep 2016 16:38:04 GMT

I love my WMC Venture.

You can't use cards for Utilities, Cable, Cell Phone, etc?

Venture is best if you spend a lot but a lot of people do not realize how much they could be using their cards.