Does Cap1 Clawback?

ToxikPH · ‎01-02-2020

I have the Cap1 Venture card. I got the card in June 2019 and think that it's absolutely a waste of my time and don't want to accidentally forget about the AF when it pops up later this year. If I change it to a QS now will they take back the $500 bonus?

NRB525 · ‎01-02-2020

You've already got the earning capability. Your statement in May will remind you the AF is coming, and the CapOne terms are you can cancel in the 45 days after that posts.

You also did get a $500 SUB to try out the card.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765

Anonymous · ‎01-02-2020

Why not just put a reminder in your phone for the AF? Why poke the bear ?

ToxikPH · ‎01-02-2020

@NRB525 wrote:
You've already got the earning capability. Your statement in May will remind you the AF is coming, and the CapOne terms are you can cancel in the 45 days after that posts.

You also did get a $500 SUB to try out the card.

Wasn't sure if they would refund after it posts. Thank you!

Shooting-For-800 · ‎01-03-2020

I would pay at least a year.

You did take $500.

Rebuild started in 2014 - $100k unsecured credit in 2017 - $500k unsecured credit in 2024.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

wasCB14 · ‎01-04-2020

https://ficoforums.myfico.com/t5/Credit-Cards/Does-Cap1-claw-back-SUBs/td-p/5788551

I asked the same question recently. If Cap1 did claw back it would probably be a well-documented trend, given how popular the cards are for SUB chasing.

I don't plan to keep it for a second year.

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