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CAP ONE raised the AF on the Venture Card

Valued Contributor

Re: CAP ONE raised the AF on the Venture Card

Between this and the Amex Platinum it seems like raising AF's has become a norm.
Message 11 of 115
Mega Contributor

Re: CAP ONE raised the AF on the Venture Card


12velectronics wrote:
Between this and the Amex Platinum it seems like raising AF's has become a norm.

Well, given prices generally rise over time, that isn't all that surprising.   And if the issuers can raise it more than their costs rise, even better for them!

Message 12 of 115
Established Member

Re: CAP ONE raised the AF on the Venture Card

Isn't $95 a lot for a glorifed 2% cashback card?

Message 13 of 115
Senior Contributor

Re: CAP ONE raised the AF on the Venture Card


socialismfan wrote:

Isn't $95 a lot for a glorifed 2% cashback card?


Considering you can get one that has no AF and no restrictions on redemptions the Venture is $95/yr too much.

FICO 08 Scores (Mar-18): TU 796, EQ 798, EX 789

Message 14 of 115
Valued Contributor

Re: CAP ONE raised the AF on the Venture Card

Anything more than $0 is too much to pay to hold this card. When the anniversary comes around, get the fee waived or cancel the card.

Message 15 of 115
Valued Contributor

Re: CAP ONE raised the AF on the Venture Card

I feel like once you’ve reaped the benefits of a really good signup bonus such as the 50K CSP, or the 100K CSR, etc. the potential for an oblivious credit consumer to become a churner or SUB chaser is huge.

I was a normal person (2 major credit cards) prior to April of this year before a Chase SW 40K (granted 60K) SUB turned me on to what’s out there. Now I’m 4theLoveofPoints.


Beginning Journey April 2017 – FICO 8

Current Scores May 2018 – FICO 8
Message 16 of 115
Established Contributor

Re: CAP ONE raised the AF on the Venture Card


4theLoveofPoints wrote:
I feel like once you’ve reaped the benefits of a really good signup bonus such as the 50K CSP, or the 100K CSR, etc. the potential for an oblivious credit consumer to become a churner or SUB chaser is huge.

I was a normal person (2 major credit cards) prior to April of this year before a Chase SW 40K (granted 60K) SUB turned me on to what’s out there. Now I’m 4theLoveofPoints.

What drives a churner or bonus chaser to pursue offers isn't what drives everyone. The potential is always there, but I don't think all that many will cross that line into the territory, and for a number of reasons. Some don't want new credit on their report. Some are content with what they have, and still others don't see value where you do (and vice versa). One man's treasure is another man's garbage.

 

 

Message 17 of 115
Mega Contributor

Re: CAP ONE raised the AF on the Venture Card


iced wrote:
What drives a churner or bonus chaser to pursue offers isn't what drives everyone. The potential is always there, but I don't think all that many will cross that line into the territory, and for a number of reasons. Some don't want new credit on their report. Some are content with what they have, and still others don't see value where you do (and vice versa). One man's treasure is another man's garbage.

Yes.  And I assume that issuers find that, in general,  good sign up bonuses attract a lot of customers who then stay with the card, rather than constantly chasing the next wow offer.     People on forums like these are the exceptions!   And even here we've seen a lot of people moving towards reducing their card collections and deciding to stay with some "forever" cards.


 

Message 18 of 115
Valued Contributor

Re: CAP ONE raised the AF on the Venture Card


simplynoir wrote:

I give all the kudos to CapOne on their Venture marketing campaign that allows them to do this.


All it does is encourage churning even more. If Capital One likes paying 2% back with a $500 bonus so people can spend their $4,000 and then drop the card, then I guess that's their problem. It's not like Capital One is making bank off of the interchange fees, they pay the card holder 2% of it, and then give Visa the rest. 

 

Whatever group decides Capital One's rewards structure and sign up bonuses shouldn't have a job anymore. Up the rewards on the Quicksilver, get rid of the Venture, and now you have a respectable card portfolio. The annual fee and sign up bonus are way too high on the Venture. 

 

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Message 19 of 115
Valued Contributor

Re: CAP ONE raised the AF on the Venture Card


ABCD2199 wrote:

Now if only they'd release a Venture metal card in the shape of the Capital One Project Element card!


I hadn't seen Project Element before. That would make them worth the triple-pull if they have a card that fits my spending...


TU FICO 8: 745 (1/18) — Ex FICO 8: 738 (1/18)
Message 20 of 115