topic Re: Capital One Premier Dining Rewards for churn? in Credit Cards

Capital One Premier Dining Rewards for churn?

BirchBarlow — Wed, 19 Jul 2017 01:29:09 GMT

I should preface this by noting I have an excellent credit profile (credit rating 760 something) and way more revolving credit than I'll ever need (at least in the near future) i.e. my utilization on average is probably around 2-3% and at even at its peak falls short of 10%. When it comes to my portfolio, I use my Citi DC as my daily driver, my Discover for category and as a backup, and Amazon Prime 5% for Amazon. Both of my Chase cards and my BOA are vaulted.

That being said, I received today yet another mail solicitation from Capital One, something that I would usually throw straight into the garbage can without a second thought, but this time I noticed something prominent and intriguing that stopped me from relflexively canning it: a $200 sign-up bonus for charging $1000 within the the first three months. While I've never really given Capital One a second thought and planned to stay in the garden pretty much indefinitely, $200 for charging $1000 that I would be spending anyway is pretty **bleep** tempting offer to churn and it's a more lucrative sign-up offer than that of any of the competitors. I should also note that this offer is invite only because if you look up the card on their website, they offer only a $100 bonus.

Now my question to you is this... would it be worth it to take the hit to my credit profile for this $200 bonus? All I would have to do to achieve the bonus is reallocate some of my spending from DC to this new card for at most three months, and after that the new card would be vaulted with the rest. Could applying for this card possibly cause any sort of AA from either Citi and/or Discover since they're my two most valuable cards and used cards? Also, when Capital One stipulates you have to spend $1000 on purchases, they mean you have to charge $1000 in the first 90 days, not that you literally have to purchase $1000 worth of products, correct?

Re: Capital One Premier Dining Rewards for churn?

Anonymous — Wed, 19 Jul 2017 01:37:46 GMT

@BirchBarlow wrote:
Also, when Capital One stipulates you have to spend $1000 on purchases, they mean you have to charge $1000 in the first 90 days, not that you literally have to purchase $1000 worth of products, correct?

Aren't these the same thing? I don't see a difference. But yes, just charge/spend/buy $1000 on the card in 90 days.

Re: Capital One Premier Dining Rewards for churn?

Gmood1 — Wed, 19 Jul 2017 01:38:01 GMT

AA for one card? Lol Not hardly to happen from your description of how you handle your business.
For sure, it would be $1000 combined purchases over 90 days.
If you want it get it. It's only 1 inq per CB. The world isn't going to catch on fire.

Re: Capital One Premier Dining Rewards for churn?

Anonymous — Wed, 19 Jul 2017 07:42:43 GMT

Be prepared for a triple pull, whether that is worth $200 to you only yourself can answer. (Mod Edit)

Re: Capital One Premier Dining Rewards for churn?

Anonymous — Wed, 19 Jul 2017 01:44:38 GMT

200 dollars isn't much of a bonus. Do you have Chase Saphire Preffered, Barclay Arrival Plus, Citi AA Advantage, Southwest Chase, American Express PRG? All the hotel cards? Those cards will give you a lot more than 200. You can get 250 dollars cash for 1000 dollar spend from AMEX BCE. 200 dollars is on the low end of sign up bonuses if you have gotten everything else than go for it. I would get the Cap One Venture as it gives you 400 dollar travel credit before this card.

Re: Capital One Premier Dining Rewards for churn?

MrDisco99 — Wed, 19 Jul 2017 03:39:06 GMT

@Anonymous wrote:
200 dollars isn't much of a bonus. Do you have Chase Saphire Preffered, Barclay Arrival Plus, Citi AA Advantage, Southwest Chase, American Express PRG? All the hotel cards? Those cards will give you a lot more than 200. You can get 250 dollars cash for 1000 dollar spend from AMEX BCE. 200 dollars is on the low end of sign up bonuses if you have gotten everything else than go for it. I would get the Cap One Venture as it gives you 400 dollar travel credit before this card.

Most of those bonuses (except the BCE) are only good for travel. If you travel a lot, then they're great. Otherwise, you might prefer cash back.

Also how does one get the 250/1000 BCE offer? Best I get from incognito is $150.

$200 on a $1000 spend is a 20% gain which is pretty good. I'd do it if I was looking for a quick churn. Yeah the triple pull sucks, but it'll heal.

Re: Capital One Premier Dining Rewards for churn?

Anonymous — Wed, 19 Jul 2017 03:55:19 GMT

oh heck no. i wouldn't touch that with a 10ft pole. 3 hits for 100-200? no way. why not get bank of america merrill+ spend 3k in 90 days, get $500 cash free or $800-$1k in flights....plus 0% for 12 months BT..... and that inquiry is good for 30 days, so if you did get approved, go for their travel rewards and get another $200 for travel after 1k spend in 90 days.....

you are already in with BOA so even better.

how many of your cards have you opened in last 24 months?????

Re: Capital One Premier Dining Rewards for churn?

BirchBarlow — Wed, 19 Jul 2017 04:40:07 GMT

I appreciate the fact that I could get more value out of travel card, but being that I suffer from a debilitating chronic disease, a debilitating more than year-old injury from which I haven't even begun to recover, as well as several disabilities that proclude me from physically functioning and interacting with the outside world at anywhere near the degree of a normal person, I know I'm not going to be traveling anywhere anytime soon. My situation being what it is, acquiring travel cards would end up costing me in AF as I wouldn't be able to use the rewards.

As far as this Capital One card is concerned, it seems to be currently be the best sign-up bonus offer for a cash back/no AF card. AMEX is only offering $100 for $1000, and $150 for $1000 for their $95 AF card which is worthless.

As a matter of fact my first thought when I saw the offer from Capital One, my first thought was that it all I would have to do to hit the $1000 threshhold is charge all my doctors visits, therapy sessions, and prescription medications for the next month or two to the new card and I'd make a quick $200. Again, my only concern is how hard it will it my credit profile. FWIW, all of my cards sans the the BOA were open within the last year.

Re: Capital One Premier Dining Rewards for churn?

SunriseEarth — Wed, 19 Jul 2017 07:46:12 GMT

Advocation of freezing CRs in order to manipulate the CC app process is not a permissable topic on the MyFICO Forums. Posts that advocate this practice are subject to editing and removal. --SE

Re: Capital One Premier Dining Rewards for churn?

Anonymous — Wed, 19 Jul 2017 08:11:18 GMT

@BirchBarlow wrote:
I appreciate the fact that I could get more value out of travel card, but being that I suffer from a debilitating chronic disease, a debilitating more than year-old injury from which I haven't even begun to recover, as well as several disabilities that proclude me from physically functioning and interacting with the outside world at anywhere near the degree of a normal person, I know I'm not going to be traveling anywhere anytime soon. My situation being what it is, acquiring travel cards would end up costing me in AF as I wouldn't be able to use the rewards.

As far as this Capital One card is concerned, it seems to be currently be the best sign-up bonus offer for a cash back/no AF card. AMEX is only offering $100 for $1000, and $150 for $1000 for their $95 AF card which is worthless.

As a matter of fact my first thought when I saw the offer from Capital One, my first thought was that it all I would have to do to hit the $1000 threshhold is charge all my doctors visits, therapy sessions, and prescription medications for the next month or two to the new card and I'd make a quick $200. Again, my only concern is how hard it will it my credit profile. FWIW, all of my cards sans the the BOA were open within the last year.

ok.... so one HP for $500 or 3 HPs for $200...... it doesnt have to be used for travel.

Re: Capital One Premier Dining Rewards for churn?

MrDisco99 — Wed, 19 Jul 2017 13:23:04 GMT

@BirchBarlow wrote:

As far as this Capital One card is concerned, it seems to be currently be the best sign-up bonus offer for a cash back/no AF card. AMEX is only offering $100 for $1000, and $150 for $1000 for their $95 AF card which is worthless.

As a matter of fact my first thought when I saw the offer from Capital One, my first thought was that it all I would have to do to hit the $1000 threshhold is charge all my doctors visits, therapy sessions, and prescription medications for the next month or two to the new card and I'd make a quick $200. Again, my only concern is how hard it will it my credit profile. FWIW, all of my cards sans the the BOA were open within the last year.

Just to give you some options, Wells Fargo Cash Wise and Barclay CashForward cards also have public 200/1000 offers that won't cost you a triple hard pull. Both are no AF and 0% for at least 12 months.

Re: Capital One Premier Dining Rewards for churn?

Anonymous — Thu, 20 Jul 2017 00:56:31 GMT

Do you have a pic of the Dining $200 bonus offer? I'm curious.

Re: Capital One Premier Dining Rewards for churn?

BirchBarlow — Thu, 20 Jul 2017 05:18:44 GMT

**bleep** I actually threw out the offer. FWIW, as you can see in my sig I went for it.

Re: Capital One Premier Dining Rewards for churn?

MrDisco99 — Thu, 20 Jul 2017 14:15:52 GMT

@BirchBarlow wrote:
**bleep** I actually threw out the offer. FWIW, as you can see in my sig I went for it.

Nice... what did they give you?

Re: Capital One Premier Dining Rewards for churn?

BirchBarlow — Thu, 20 Jul 2017 18:06:34 GMT

@MrDisco99 wrote:
@BirchBarlow wrote:
**bleep** I actually threw out the offer. FWIW, as you can see in my sig I went for it.
Nice... what did they give you?

$10,000 IIRC