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CAP ONE raised the AF on the Venture Card

Regular Contributor

Re: CAP ONE raised the AF on the Venture Card

Both are good reasons!

Rebuild Started: May 2017 (Fico 500’s)
Current Scores: EQ786, TU791, EX784
Goals: Fico > 800’s & 100k in Credit


      $500              $2100            $11,000
Message 51 of 115
Regular Contributor

Re: CAP ONE raised the AF on the Venture Card

I never said Venture was the best card out there.

I just dis-agreed that, imo “$95 was not a lot for a glorified 2% cashback card.”

 

“$35,000 to get a $700 ticket on a flight with the Venture. With other $95/year cards, you're getting more perks and you don't have to spend $35,000 a year to get a $700 unless you're only spending in non-bonus categories.”

 

I am very interesting in knowing how much I would have to spend a year on one of these cards that you mentioned to receive a $700 flight ticket?

Apples for apples … I’m getting 2xMiles on all purchases with intentions of redeeming for travel. I usually only eat at restaurants while I’m on vacation. So a 5xpoint on food perk doesn’t matter to me.

 A rarely stay in a hotel as well. I have a house in Thailand so it’s not necessary.

 

I do not doubt your knowledge on the matter either; I’m asking to hear more of it. I’m new to the c.c. reward scene.

Rebuild Started: May 2017 (Fico 500’s)
Current Scores: EQ786, TU791, EX784
Goals: Fico > 800’s & 100k in Credit


      $500              $2100            $11,000
Message 52 of 115
Established Contributor

Re: CAP ONE raised the AF on the Venture Card


Chi-townBrickie wrote:

I never said Venture was the best card out there.

I just dis-agreed that, imo “$95 was not a lot for a glorified 2% cashback card.”

 

“$35,000 to get a $700 ticket on a flight with the Venture. With other $95/year cards, you're getting more perks and you don't have to spend $35,000 a year to get a $700 unless you're only spending in non-bonus categories.”

 

I am very interesting in knowing how much I would have to spend a year on one of these cards that you mentioned to receive a $700 flight ticket?

Apples for apples … I’m getting 2xMiles on all purchases with intentions of redeeming for travel. I usually only eat at restaurants while I’m on vacation. So a 5xpoint on food perk doesn’t matter to me.

 A rarely stay in a hotel as well. I have a house in Thailand so it’s not necessary.

 

I do not doubt your knowledge on the matter either; I’m asking to hear more of it. I’m new to the c.c. reward scene.


If you would like a data point, I just redeemed 280,000 miles for an itinerary that prices out to $21,824. That works out to ~7.8cpm. Thus, $700 in value for me was achieved with 8,985 points, which could take anywhere from $8,985 in spend on the conservative down to $2,995 in purely dining/travel spend on a CSR. Either valuation is far more efficient than $35,000 for $700 in value.

 

There are two caveats to this data point:

 

1. The best acceleration of value is where someone is able to spend heavily in categories that are favorable to travel redemption, specifically dining/travel. Almost every good CC with travel partners is weighted to reward those two categories more. Another way to think of this is that someone for whom 90% of their monthly spend is on gas and groceries will have to spend much more than someone who has a 90% monthly spend in dining/travel.

 

2. The best value redemption comes with higher point redemptions, which also means one needs to be able to generate many miles/points. A lot of people aim for 25k or 50k because that's realistic and what it takes to get a pair of domestic airfare tickets, but those will be lower cpm value redemptions. To hit the upper cpm tiers (7.8 cpm in this example), you need to be able to generate hundreds of thousands or even millions of points in a year, something which may be daunting to some. That is, you can't redeem $3,000 in spend for $700 in value unless you redeem in bulk - $90,000 in spend for $21,000, for example.

 

Message 53 of 115
Valued Contributor

Re: CAP ONE raised the AF on the Venture Card


Chi-townBrickie wrote:

I never said Venture was the best card out there.

I just dis-agreed that, imo “$95 was not a lot for a glorified 2% cashback card.”

 

“$35,000 to get a $700 ticket on a flight with the Venture. With other $95/year cards, you're getting more perks and you don't have to spend $35,000 a year to get a $700 unless you're only spending in non-bonus categories.”

 

I am very interesting in knowing how much I would have to spend a year on one of these cards that you mentioned to receive a $700 flight ticket?

Apples for apples … I’m getting 2xMiles on all purchases with intentions of redeeming for travel. I usually only eat at restaurants while I’m on vacation. So a 5xpoint on food perk doesn’t matter to me.

 A rarely stay in a hotel as well. I have a house in Thailand so it’s not necessary.

 

I do not doubt your knowledge on the matter either; I’m asking to hear more of it. I’m new to the c.c. reward scene.


The $95 year Everyday Preferred gives you 4.5x on groceries (up to $6,000 per year, then 1.5x), 3x on gas, and 1.5x on everything else. If you're redeeming a Delta ticket for 1.5 cents each, you're beating the Venture. 

 

In this case you're getting the equivlent of 6.75%, 4.5%, and 2.25%, which all beat the Venture. Although I will add that there are times when Delta points are only worth 1 cent per point. 

USAA Limitless
NavyFed AMEX
AMEX Blue Business Preferred
AMEX Delta Gold
Citi ThankYou Premier
Citi AT&T Access
DiscoverIT 5%
AMEX Everyday
BOA Cash Rewards
Message 54 of 115
Regular Contributor

Re: CAP ONE raised the AF on the Venture Card

I want to wish you gentleman a Merry Christmas! I hope everyone is enjoying some family time.

 

Iced & mountaindewvoltage) Thanks for taking the time to share those data points with me, I do appreciate it. Both CSR & AMEX Everyday have piqued my interest now.

 

Iced) You caught my full attention. I have a few questions about the CSR in regards to what you explained to me, just so I can understand it better…

I got hit with a flu bug 3 days ago, so my ability to comprehend isn’t fully there yet. I’ll be back after the holidays if you don’t mind.  

Rebuild Started: May 2017 (Fico 500’s)
Current Scores: EQ786, TU791, EX784
Goals: Fico > 800’s & 100k in Credit


      $500              $2100            $11,000
Message 55 of 115
Established Contributor

Re: CAP ONE raised the AF on the Venture Card

Which is why I consider the Venture a 2% cash back card, not a miles card. They aren't associated with any airlines, so of course they aren't going to be able to compete with cards that DO have affiliations.

Venture: $18K | Amex ED: $18K | Amex BCE: $15K | NFCU CR: $15K | IT #1: $14.5K | Wells Fargo: $11K | Savor: 10K | Cap1 QS: $8.5K | Barclays Rewards: $7.75K | IT #2: $6.8K | MLife: $6.5K | Sportsman's Guide: $5.9K | NRA: $5.5K | Elan Plat: $2.3K | Cap1 PS: 2K | TRV: $2.5K | Cabela's: $1K


 


Current FICO 8 Scores: EQ: 728 | TU: 736 | EX: 726


Message 56 of 115
Valued Contributor

Re: CAP ONE raised the AF on the Venture Card


mountaindewvoltage wrote:

Chi-townBrickie wrote:

I never said Venture was the best card out there.

I just dis-agreed that, imo “$95 was not a lot for a glorified 2% cashback card.”

 

“$35,000 to get a $700 ticket on a flight with the Venture. With other $95/year cards, you're getting more perks and you don't have to spend $35,000 a year to get a $700 unless you're only spending in non-bonus categories.”

 

I am very interesting in knowing how much I would have to spend a year on one of these cards that you mentioned to receive a $700 flight ticket?

Apples for apples … I’m getting 2xMiles on all purchases with intentions of redeeming for travel. I usually only eat at restaurants while I’m on vacation. So a 5xpoint on food perk doesn’t matter to me.

 A rarely stay in a hotel as well. I have a house in Thailand so it’s not necessary.

 

I do not doubt your knowledge on the matter either; I’m asking to hear more of it. I’m new to the c.c. reward scene.


The $95 year Everyday Preferred gives you 4.5x on groceries (up to $6,000 per year, then 1.5x), 3x on gas, and 1.5x on everything else. If you're redeeming a Delta ticket for 1.5 cents each, you're beating the Venture. 

 

In this case you're getting the equivlent of 6.75%, 4.5%, and 2.25%, which all beat the Venture. Although I will add that there are times when Delta points are only worth 1 cent per point. 


Excellent analysis of the benefits of the EDP vs. Venture.

I'd also add that MR points don't have to be transferred to Delta.  There are lots of other Amex airline transfer partners that may provide better value for miles than Delta.  I just did a redemption through combined Delta and FlyingBlue miles that came out to about 2 cents per point.  That's a 9% return at the grocery store and 3% on non-category purchases.

For me, as long as the Citi DC exists as it is, any other card with only 2% return on spend is not worth holding long term. Especially if it's only redeemable for a specific category and has a $95 annual fee tied to it. I plan to get a Venture for the bonus sometime next year, but I won't pay a penny to keep it.

Message 57 of 115
Valued Contributor

Re: CAP ONE raised the AF on the Venture Card


MrDisco99 wrote:


I'd also add that MR points don't have to be transferred to Delta.  There are lots of other Amex airline transfer partners that may provide better value for miles than Delta.  I just did a redemption through combined Delta and FlyingBlue miles that came out to about 2 cents per point.  That's a 9% return at the grocery store and 3% on non-category purchases.

And even if you want Delta metal, for some routes it's cheaper to book the flight with FB than SkyMiles.

Spend: CSR/Freedom/FU, BBP, Costco, Discover
Perks: Schwab Platinum, IHG, Hyatt, SPG
Rarely useful: BCE, ED, Arrival
2019 downgrade: Prestige
Message 58 of 115
Valued Contributor

Re: CAP ONE raised the AF on the Venture Card


MrDisco99 wrote:

mountaindewvoltage wrote:

Chi-townBrickie wrote:

I never said Venture was the best card out there.

I just dis-agreed that, imo “$95 was not a lot for a glorified 2% cashback card.”

 

“$35,000 to get a $700 ticket on a flight with the Venture. With other $95/year cards, you're getting more perks and you don't have to spend $35,000 a year to get a $700 unless you're only spending in non-bonus categories.”

 

I am very interesting in knowing how much I would have to spend a year on one of these cards that you mentioned to receive a $700 flight ticket?

Apples for apples … I’m getting 2xMiles on all purchases with intentions of redeeming for travel. I usually only eat at restaurants while I’m on vacation. So a 5xpoint on food perk doesn’t matter to me.

 A rarely stay in a hotel as well. I have a house in Thailand so it’s not necessary.

 

I do not doubt your knowledge on the matter either; I’m asking to hear more of it. I’m new to the c.c. reward scene.


The $95 year Everyday Preferred gives you 4.5x on groceries (up to $6,000 per year, then 1.5x), 3x on gas, and 1.5x on everything else. If you're redeeming a Delta ticket for 1.5 cents each, you're beating the Venture. 

 

In this case you're getting the equivlent of 6.75%, 4.5%, and 2.25%, which all beat the Venture. Although I will add that there are times when Delta points are only worth 1 cent per point. 


Excellent analysis of the benefits of the EDP vs. Venture.

I'd also add that MR points don't have to be transferred to Delta.  There are lots of other Amex airline transfer partners that may provide better value for miles than Delta.  I just did a redemption through combined Delta and FlyingBlue miles that came out to about 2 cents per point.  That's a 9% return at the grocery store and 3% on non-category purchases.

For me, as long as the Citi DC exists as it is, any other card with only 2% return on spend is not worth holding long term. Especially if it's only redeemable for a specific category and has a $95 annual fee tied to it. I plan to get a Venture for the bonus sometime next year, but I won't pay a penny to keep it.


To summarize, Capital One's rewards cards are garbage. 

 

A 1.5% cash back card is outdated when 2% should be the minimum value. 

They don't have any transfer partners (and no points cards). 

The Venture One earns 1.25% back 

The Venture has a $95 annual fee for limited 2% back. 

 

Their best card is probably the Savor, which isn't saying  much. 

USAA Limitless
NavyFed AMEX
AMEX Blue Business Preferred
AMEX Delta Gold
Citi ThankYou Premier
Citi AT&T Access
DiscoverIT 5%
AMEX Everyday
BOA Cash Rewards
Message 59 of 115
Mega Contributor

Re: CAP ONE raised the AF on the Venture Card


mountaindewvoltage wrote:


To summarize, Capital One's rewards cards are garbage. 

 

A 1.5% cash back card is outdated when 2% should be the minimum value. 

They don't have any transfer partners (and no points cards). 

The Venture One earns 1.25% back 

The Venture has a $95 annual fee for limited 2% back. 

 

Their best card is probably the Savor, which isn't saying  much. 


More or less agree, although I would give QS some credit for 1.5% on transactions avoiding a FTF.   But there are other cards that do that and better now.

Message 60 of 115