@SBR249 wrote:I seem to remember that Venture One also had slightly looser underwriting standards as well compared to QS? Or am I just imagining that? In any case, I actually recently PCed my V1 of two years to the QS and for those who read the thread in the future, the miles convert 1:1 to cashback in that case. So if you find that you don't have that many eligible travel expenses to cash out and don't want to take a hit taking straight CB under V1, that's a one time get-out-of-jail card to liberate your rewards earnings, provided you have an upgrade offer that is.
But I do agree that V1 has a better sign up bonus than the QS ($200 vs $150).
While being able to switch and convert the miles to cash back is nice, I don't technically think it's a get out of jail free card as you still earned those miles at a lesser rate with venture 1 vs a QS. If you spent $10,000 a year on each card you would earn 125 miles with V1 or $150 cash back with QS. This could be negligible or a significant difference depending on ones spending patterns.
At the end of the day, choose the card that makes you happy... my original post was just to make sure that people know that the V1 is technically an inferior card to the QS in terms of rewards.
