Grandfathered Venture X Card?

Hex · ‎11-17-2021

Did I get a Grandfathered Venture X?

I had a grandfathered Venture card with a $59 annual fee. I PC’d it to the Venture X card the day the new card came out. I didn’t have an offer so I had to call CSR to make the change. CSR said they would be sending me a letter before they charged my annual fee. I did receive a letter about the cards rewards but not one about the annual fee.

My annual fee was due to be charged on my November statement. After the upgrade I checked to see if the amount of the annual fee listed for my account changed and it hadn't. It was still $59. I waited to see if the amount would charge today (my statement date) and it didn’t. It went though today for $59.

Not only that but now the account information says next year's annual fee will be taken in November of 2022 in the amount of.....$59! Really? I sure hope so.

I thought I’d let you guys know about this in case anyone else can benefit from it. This may not work for others and they may claw this back (especially since I’m sharing this) but I wanted to give back to the community so I’m letting the cat out of the bag.

Keep in mind I might have just lucked out because it was my renewal month when I PC'd and maybe it was too late for them to change the fee amount since they had already sent the notice about the fee renewal with the amount last month.

If anyone wants to go for this please just quietly sign up and take your chances. Don’t call Capital One and ask for the nonexistent grandfathered Venture X card or they’ll probably shut this down and/or claw it back. Also I called in to upgrade my card and this might not work if you accept an online upgrade (maybe annual fee terms listed online?) I have no idea since I've never seen the upgrade page.

Good luck!!

longtimelurker · ‎11-17-2021

Sounds like you really lucked out, at least for now! I really doubt if there can be an "official" policy about this, grandfathering usually will fix the AF (and/or rewards) for an existing card, not once you PC.

I would suggest you try to use the travel credit (if you have something to book of course) and see what happens. A $300 credit (+ other perks) for $59 would be very nice.

jcooks · ‎11-17-2021

Very nice! Hopefully this sticks. I would love to try to PC one of my Cap One cards, but neither of them are near 10k limit lol.

Yasselife · ‎11-17-2021

@longtimelurker What's considered a "grandfathered" card, how old?

Goal card:

jcooks · ‎11-17-2021

@Yasselife wrote:
@longtimelurker What's considered a "grandfathered" card, how old?

I think he means grandfathered as in he's paying old AF on his Venture on the new Venture X after he PC'd it

longtimelurker · ‎11-17-2021

@jcooks wrote:
@Yasselife wrote:
@longtimelurker What's considered a "grandfathered" card, how old?
I think he means grandfathered as in he's paying old AF on his Venture on the new Venture X after he PC'd it

Right, basically the old conditions stay on your existing card, whereas new applicants for the same card get different (worse!) conditions. A good Capital One example was the Savor, those with it were allowed to get 4% with no AF, new applicants wanting that card had to pay an AF (or get the 3% free Savor one). In your case you PCd an existing card, and while that will often keep credit limit and APR, fees and rewards usually change.

And often there is no grandfathering at all, the new fees/conditions apply to all after the next renewal.

Ilinferno · ‎11-17-2021

Good luck! Hope it stays that way.

Yasselife · ‎11-17-2021

@longtimelurker

It is always good to ask. *taking notes*

Goal card:

FinStar · ‎11-17-2021

@longtimelurker wrote:
@jcooks wrote:
@Yasselife wrote:
@longtimelurker What's considered a "grandfathered" card, how old?
I think he means grandfathered as in he's paying old AF on his Venture on the new Venture X after he PC'd it
Right, basically the old conditions stay on your existing card, whereas new applicants for the same card get different (worse!) conditions. A good Capital One example was the Savor, those with it were allowed to get 4% with no AF, new applicants wanting that card had to pay an AF (or get the 3% free Savor one). In your case you PCd an existing card, and while that will often keep credit limit and APR, fees and rewards usually change.

And often there is no grandfathering at all, the new fees/conditions apply to all after the next renewal.

Right. I'd be very curious to see when the actual AF for Venture X will hit 🎯

Hex · ‎11-18-2021

@FinStar Me too but I'm hoping to get lucky again. After all my Savor still has no annual fee and my Venture remaind at $59 for 4 years. In a way it's almost not totally crazy for Capital One to waive the fee increase since it's still costing them less than the SUB.