Capital One Venture card?

[Debi]

I'm looking for a new credit card to replace my Bank of America card (long story short, I'm not happy with BOA). I'm looking for something with rewards, and I found the Capital One Venture card. I'm really on the fence on paying the $59 annual fee, so I'm considering the 'basic' version of this card. For anyone that has this card, do you like it? Is the card worth it? Do you have to jump through a lot of hoops to redeem your points for free flights?

 

[Debi]

Bump!

 

[Psychodisney]

I have the Capital One venture card which I upgraded from the regular Capital One Card. For me the double points outweigh the annual fee. I figure if I earn 50,000 points it equals $500 worth of airfare (500-59(annual fee)=$441 net). If I earn 25,000 points with the regular Capital One no hassle(no fee) I would earn $250 worth of airfare. So, I'm way ahead withthe Venture Card.

As far as ease of use, I've used Capital one for about 4 years now. It is so easy. I usuallly search for my own airfare and book it. Then, a couple of days later(after the charge has posted to my account), I call in and they credit my account and deduct the points. No blackouts etc. So easy.

 

[Purseval]

Folks thinking of getting these reward cards take note of the numbers necessary to actually get rewards. As an example my wife and I went to Fulton's at DTD and paid with Disney Rewards. Dinner for 2 cost us rewards that took $15,000 worth of charges to accumulate. If you had to pay interest on a balance like that it's doubtful the rewards would have covered the interest charges. So in other words rewards are a sham and will actually cost you dearly unless you pay your balance in full every month. Keep that in mind when considering any type of reward card.

 

[beansmom]

while what purceval says is true...it takes up $40,000 in charges to fly to Europe...I'd still be spending that $40,000 and getting nothing without the reward card. And I get to go to Italy for freeeee (plus taxes, of course...less than $200..so pretty good when airfare one way is $3k right now).

 

[Purseval]

while what purceval says is true...it takes up $40,000 in charges to fly to Europe...I'd still be spending that $40,000 and getting nothing without the reward card.

It has nothing to do with spending the $40,000 and everything to do with whether you pay it off on time or not. If you pay in full each month a reward card is a good financial tool. If you carry a balance odds are it is more in your interest to look for a card that has the lowest rates and fees rather than something that gives you a reward.

 

[beansmom]

oh..well...we DO pay in full each month...sorry i missed the point.

 

[Debi]

Thanks, Psychodisney. One of my concerns is that the card seemed 'too easy' and there were hoops that you had to jump through to redeem your points. Glad to hear they make it easy!