@Anonymous wrote:
Hello everyone,
I'm very intrigued by this new sign up bonus for the capital one venture. Really good bonus as long you can spend the 5k in 3 months. My plan is to meet sign up bonus and than downgrade to venture one. No AF first year so no risk there. My question is do they still allow you to downgrade prior to AF hitting? And would I have to use my miles prior to downgrading? As in will pts/miles be valued less if I had some remaining after downgrading? No familiar with Capital one system.
I don't plan on keeping the card since I currently use CSR/Freedom Unl/Freedom/WOH currently. See no value in the venture. Please let me know what y'all think!
Hey,
It would be pretty much playing with fire, there's a pretty big chance that you will burn your relationship with Capital One so you gotta weight how much you actually value that. If you do not, yeah sure, go for it BUT if you do, then there's no reason to do it because of $95 when they are giving you ($750 - if you can hit the minimum spend). I am going to copy and paste the same thing that I wrote in another topic when someone was asking about triple dipping the Amex Plat credits (I changed "Amex" to "Capital One" for this situation but it works for both).
I just wanted to say that downgrading is fine BUT I would wait 1 year before downgrading. Pay the AF then downgrade to the VentureOne card. They will probably refund you the fee for downgrading but let them to that, not you.
"Ok, this is how I see it. You are pretty much destroying a “relationship” with Capital One for $95. I mean, it all depends on how you value that. If you don’t care, sure, do it BUT, I can see that you already have some Capital One cards and maybe in the future would like to get a CLI or get approved for new cards right? Well, it wouldn’t happen and all for $95.
I would not recommend you to do that, you won’t be getting too much out of it when you consider the “whole thing”. Like it was mentioned before, keep the card and take advantage of all the other benefits but because of people that do that that CC companies keep on cutting on benefits because they, in the end of the day, have to pay for those credits that you would be getting and that cost get passed to us, legit customers. That could be actually an easy way to get into Capital One's blacklist, so if that’s what you are secretly looking for, go for it!
I get that some people are saying here that this is a game and that the card was design for that and so on. I have to say that I disagree. First, this is only a game because THEY let you play. If they don’t give you a credit card, there’s no game to play.
Like I mentioned before, I don’t think that doing that is worth ruining a relationship with a bank that is willing to give you credit but this is me, we may have different opinions here."
Keep it in mind that, even if they charge you an AF, you're still getting $655 in miles!
