Capital One Venture Rewards Credit Card: Earn 60,000 Miles with $3,000 Spent on Purchases within 3-Months of Account Opening
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Capital One is offering a 60,000 mile bonus after you spend $3,000 on purchases in the first 3 months of account opening with the Capital One Venture Rewards Credit Card. Annual fee is $95.
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I have like an 850 credit score but didn't get approved somehow...WTF.
I also have 800++ score..... keep in mind that CC companies make the plurality of their money[fool.com] in interest charged to people that don't pay in full (e.g. people that are not you or I). For reference, in 2016, 39% of money was made from interest (not paying in full), 16% on cash advance, 8% in annual fees, 7.5% in penalties. That leaves 26% in interchange (what the merchants pay) and about 4% for enhancement which is shit like insurances they sell.
So, on you or I or any other person that pays in full, never gets a cash advance and doesn't buy their crap, the best case is that they are making interchange, but keep in mind there is an expense to this as well (or, liability) - rewards, to offset that.
If a merchant is paying 1-2% (it varies, plus there's a flat fee of 5-10 cents or so) but the CC company is giving back 1% of that to you, and since you're a good user (e.g. they won't be deleting your rewards), then you're frankly not that attractive of a customer - they're barely breaking even on you!
I'm in the market for a new CC after I discovered the CC I've been using for gas (5% back), the rewards expire which is a shit thing to do.
I also have 800++ score..... keep in mind that CC companies make the plurality of their money[fool.com] in interest charged to people that don't pay in full (e.g. people that are not you or I). For reference, in 2016, 39% of money was made from interest (not paying in full), 16% on cash advance, 8% in annual fees, 7.5% in penalties. That leaves 26% in interchange (what the merchants pay) and about 4% for enhancement which is shit like insurances they sell.
So, on you or I or any other person that pays in full, never gets a cash advance and doesn't buy their crap, the best case is that they are making interchange, but keep in mind there is an expense to this as well (or, liability) - rewards, to offset that.
If a merchant is paying 1-2% (it varies, plus there's a flat fee of 5-10 cents or so) but the CC company is giving back 1% of that to you, and since you're a good user (e.g. they won't be deleting your rewards), then you're frankly not that attractive of a customer - they're barely breaking even on you!
I'm in the market for a new CC after I discovered the CC I've been using for gas (5% back), the rewards expire which is a shit thing to do.
I'm on annual credit atm, totally forgot that I have all my accounts on Perma-freeze after the Experian hack lol. I will have to unfreeze them to apply for this.
But not to undermine what you said because that is accurate and true. I'm the worst kind of customer, I sign up, get my bonus, pay my bills and then cancel the card about 1.5 years in before the second annual fee.
I'm on annual credit atm, totally forgot that I have all my accounts on Perma-freeze after the Experian hack lol. I will have to unfreeze them to apply for this.
Then shouldn't they have just told you they can't access your credit rather than a denial? I have the whole fam's credit locked after numerous breaches and whenever we apply for something we're told that the reports are locked, we don't get denials.
Then shouldn't they have just told you they can't access your credit rather than a denial? I have the whole fam's credit locked after numerous breaches and whenever we apply for something we're told that the reports are locked, we don't get denials.
Mmmmm don't know, this is the first credit card I have applied for in 4-5 years probably and I locked it a few years ago. Guess I will find out with that letter, but I'm good either way, I just wanted bonus points
Also, I am 99% sure it is the freeze because I pulled my credit reports and there was nothing there from Capitol One in the "pulls" section yet there were fresh pulls from the credit agencies.
The biggest downside to Capital One cards: They do 3 hard pulls! One from each credit bureau. Typically you want 1 hard inquiry very 2-3 months.
Otherwise it's a good card
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https://www.johnnyjet.c
Yes. You get more redemption on travel related expenses but you can convert to cash.
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Yes. Wife and I did w/ no problem.
So, on you or I or any other person that pays in full, never gets a cash advance and doesn't buy their crap, the best case is that they are making interchange, but keep in mind there is an expense to this as well (or, liability) - rewards, to offset that.
If a merchant is paying 1-2% (it varies, plus there's a flat fee of 5-10 cents or so) but the CC company is giving back 1% of that to you, and since you're a good user (e.g. they won't be deleting your rewards), then you're frankly not that attractive of a customer - they're barely breaking even on you!
I'm in the market for a new CC after I discovered the CC I've been using for gas (5% back), the rewards expire which is a shit thing to do.
So, on you or I or any other person that pays in full, never gets a cash advance and doesn't buy their crap, the best case is that they are making interchange, but keep in mind there is an expense to this as well (or, liability) - rewards, to offset that.
If a merchant is paying 1-2% (it varies, plus there's a flat fee of 5-10 cents or so) but the CC company is giving back 1% of that to you, and since you're a good user (e.g. they won't be deleting your rewards), then you're frankly not that attractive of a customer - they're barely breaking even on you!
I'm in the market for a new CC after I discovered the CC I've been using for gas (5% back), the rewards expire which is a shit thing to do.
But not to undermine what you said because that is accurate and true. I'm the worst kind of customer, I sign up, get my bonus, pay my bills and then cancel the card about 1.5 years in before the second annual fee.
Then shouldn't they have just told you they can't access your credit rather than a denial? I have the whole fam's credit locked after numerous breaches and whenever we apply for something we're told that the reports are locked, we don't get denials.
Also, I am 99% sure it is the freeze because I pulled my credit reports and there was nothing there from Capitol One in the "pulls" section yet there were fresh pulls from the credit agencies.
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Otherwise it's a good card