Cap 1 venture after 2 years...

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LearnMS

Level 2 Member
I have cap 1 venture rewards cards that I am planning to close. I had it for 2 years and I like because there is no min redemption requirement, like Barclays A+ card. I liked it very much redeeming small amounts and multiple times.

But now AF is due and I haven't used it for a while. Is it still worth keeping the card? Any datapoints on closing this card and opening a new one for 40k bonus? I have 30k CL and will lose all if I close it. Any advise?
 
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5280miles

Level 2 Member
LearnMS said:
I can do that, but is it worth it?
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I have found that Cap1 is really friendly to MS on. Never any issues running way over the credit limit. Also easy to redeem miles. Something to think about.
(I can't get a Venture to save my life. Have very high credit with Spark but they won't give me a venture. My wife has both and we run lots of ms on them.)
 
L

LearnMS

Level 2 Member
How about close it, stay low for a while and apply for it for a bonus/ I know about the 3-bureau hit.
 
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5280miles

Level 2 Member
LearnMS said:
How about close it, stay low for a while and apply for it for a bonus/ I know about the 3-bureau hit.
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I know others have done that. My only concern would be that if you can get a new card. I don't know what I did but have s Fico over 825 and can't get the card.
 
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QueenoftheSkyPesos

New Member
5280miles said:
I know others have done that. My only concern would be that if you can get a new card. I don't know what I did but have s Fico over 825 and can't get the card.
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I have seen some DPs on Citi not approving applications when a credit score is very high. Perhaps this is a similar policy? with CapitalOne that you are running into?
 
R.R.

R.R.

Level 2 Member
5280miles said:
I can't get a Venture to save my life. Have very high credit with Spark but they won't give me a venture.
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Interesting to hear that I'm not the one who with this problem, puzzling as it is. I'll keep trying periodically though.
 
rsvp

rsvp

X Marks The Spot
Was anyone able to product change their Venture to the Cash+? When I tried last year, they said it's not possible. I got the fee waived but it's coming up again.
 
Cmonman76

Cmonman76

Level 2 Member
You can change a Venture to no AF Quicksilver.
I did that, opened another Venture and then down the road combined them back into one card and start the process again.
 
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LearnMS

Level 2 Member
Weird thing happened. My Cap1 card was restricted. I received a letter that said - observed activity that is not consistent with our expectations. So they closed it.

When called and asked, they said they can't do anything about it. As per the terms and conditions, they have a right to do this to customers.

I didn't mind as I was about to close anyway. But the same thing happened for my wife's account who opened it less than a month ago. And she didn't even get the bonus yet.

What to do?
 
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LearnMS

Level 2 Member
Cmonman76 said:
Do you have any guess as to why they would have closed it?
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I think I know why, but it's just a guess. On my account, my wife was an authorized member. When she got her own primary card, I was added as an authorized user. Soon after this, both of our accounts are now permanently closed.

Is there any T&C that states that I can't have the card if I am the primary and authorized user for the same product? Whom can I contact?
 
Cmonman76

Cmonman76

Level 2 Member
Never heard of closure because of that. But have seen several household shutdowns like yours when one account is flagged. Were you using it consistently or had you ramped up spending lately? Any Walmart bill pay to pay the cards off?
 
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LearnMS

Level 2 Member
ji
Cmonman76 said:
Never heard of closure because of that. But have seen several household shutdowns like yours when one account is flagged. Were you using it consistently or had you ramped up spending lately? Any Walmart bill pay to pay the cards off?
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No, nothing like that. In fact, my spending has been quiet for the last few months. I did use NW buxx cards to pay the cap1, but that was 5 months ago. If these are considered suspicious activities, I can't explain why my wife's card was closed too. She opened it just 6 weeks ago. And she didn't get her bonus either....I tried speaking with them and they were pretty adamant of not resolving this issue. Should I try twitter?
 
Cmonman76

Cmonman76

Level 2 Member
No idea what would have spooked them then. No big drop in her credit scores after opening? Or a bunch of new accounts?
 
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