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The cash back difference is 1.25% and 2.0%, a difference of 0.75%.
$95 / 0.0075 = $12,667 annually or $1056 per month spend or more to make the annual fee valuable.
A PC should in fact get you out of the rebuilder tier but a lot depends on your current scores and profile.
It may or may not get past a starter tier card. When I upgraded my platinum to quicksilver, it ended up staying a platinum card with quicksilver rewards. Only when I upgrade a second time from quicksilver to quicksilver did my platinum card actually update to a real quicksilver with visa signature benefits.
On the other hand, venture one is a visa signature card. I would do the upgrade.
IMO, you should never upgrade to a Venture. The only valuable thing about the Venture is the sign-up bonus, which you (usually) don't get via a PC. So then you are left with a 2% restricted redemption card with a fee, while there are several free unrestricted 2% cards. Now it might be that you don't have the credit report for some of those yet, but I would wait rather than get the Venture. There are also lots of free 1.5% cards
@longtimelurker wrote:IMO, you should never upgrade to a Venture. The only valuable thing about the Venture is the sign-up bonus, which you (usually) don't get via a PC. So then you are left with a 2% restricted redemption card with a fee, while there are several free unrestricted 2% cards. Now it might be that you don't have the credit report for some of those yet, but I would wait rather than get the Venture. There are also lots of free 1.5% cards
I must concur with that.
3 should be enough. 2 cards can get you over 800 credit score, maybe 1 card is also possible. What are your other cards? Maybe some of those are upgradeable.
Applying for the Venture outright is better since you get the bonus. Then throw the limit of your older card onto the new card and close the old card. Unless it's a much older card you want to keep for AAoA purposes.