Does Anyone Think Capital One Cards Suck?

For just about anything you want to get off your chest about credit cards.
42 posts
User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 4439
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Does Anyone Think Capital One Cards Suck?

Postby CarefulBuilder14 » Tue May 30, 2017 10:38 pm

aj023 wrote:Can't comment on what benefits I would use, but just the appeal of a higher end card and rewards for dining and groceries that I want along with no foreign currency fees is why I already chose the Capital One card. The card offers higher tier programs generally on travel but perhaps the concierge will be better for dining or card replacement will be easier abroad or whatnot.

Are you talking about upgrades on Y-fare air travel?

Card replacement, here or abroad, would be handled by Capital One, not MC. I'm not sure how smooth or fee-free the process would be, but they don't have a reputation for getting cards to customers quickly in most parts of the world like Amex has.

There is some concierge service with WEMC and it gets generally good reviews. I've not heard of anyone making some extravagant request to see how far it goes.

I know WEMC feels like a really exclusive/premium thing, but it's really just about making merchants pay higher fees. It sounds like you have some vague idea that there are premium benefits, but in most cases those benefits come with a catch.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card


Bucs55
Green Member
Green Member
 
Posts: 7
Joined: Mon Jan 09, 2017 11:43 pm

Re: Does Anyone Think Capital One Cards Suck?

Postby Bucs55 » Wed May 31, 2017 1:00 am

They took a chance on me when I started building my credit score, just today tried CLI and got it for both my platinum and venture card (which I don't plan on using anymore). Their are far better cards out there.

mountaindewvoltage
Centurion Member
Centurion Member
 
Posts: 383
Joined: Mon Oct 10, 2016 8:40 pm

Re: Does Anyone Think Capital One Cards Suck?

Postby mountaindewvoltage » Wed May 31, 2017 4:19 am

CarefulBuilder14 wrote:
mountaindewvoltage wrote:I must admit that after making this thread, I made a mistake about the Venture. All of the other Capital One cards suck.

I like my metal Venture card (thought I'd try one out). Capital One gave me a $15,000 limit (my next highest is $5,600) and the rewards are pretty straight forward. It's not really a card to use by itself, but one to use in combination with an airline transfer or hotel card.

It's good for travel-cash bonus chasing, but after the first year many card geeks decide they don't want to pay an AF for a 2% travel-cash card. There has been a lot of discussion on MF about people asking for AF waivers, PCing and/or combining cards to preserve their big Cap One CLs while avoiding AFs.

What it pairs well with is debatable. You said the other day you were looking at a hotel stay where you could redeem Starpoints for 3.4 cpp. With those kinds of values, why pay an ongoing AF for a mere 2% travel card? Keeping one would seem more superfluous than complementary.


That's why if they don't waive the annual fee I'd just get rid of it or downgrade to the Venture One.

I'm really hoping Starpoints don't become devalued next year, but as a backup I now have a Chase Hyatt card which will replace it because I'm assuming the Starwood points won't be worth that much in the upcoming future. The Hyatt card can give me roughly 2.7 cpp and there's no indication the program will become devalued any time soon.

The thing about the Starwood card is it's an AMEX, so it's nice having very good to great Visa/MasterCards to go along with it.

aj023
Gold Member
Gold Member
 
Posts: 39
Joined: Sat Jan 23, 2016 3:22 pm

Re: Does Anyone Think Capital One Cards Suck?

Postby aj023 » Wed May 31, 2017 1:18 pm

CarefulBuilder14 wrote:
aj023 wrote:Can't comment on what benefits I would use, but just the appeal of a higher end card and rewards for dining and groceries that I want along with no foreign currency fees is why I already chose the Capital One card. The card offers higher tier programs generally on travel but perhaps the concierge will be better for dining or card replacement will be easier abroad or whatnot.

Are you talking about upgrades on Y-fare air travel?

Card replacement, here or abroad, would be handled by Capital One, not MC. I'm not sure how smooth or fee-free the process would be, but they don't have a reputation for getting cards to customers quickly in most parts of the world like Amex has.

There is some concierge service with WEMC and it gets generally good reviews. I've not heard of anyone making some extravagant request to see how far it goes.

I know WEMC feels like a really exclusive/premium thing, but it's really just about making merchants pay higher fees. It sounds like you have some vague idea that there are premium benefits, but in most cases those benefits come with a catch.


If that were true, my existing World Mastercard credit cards would have already been converted to Elite to get more fees. That did not happen. Elite seems to be coming more widespread now when it was more limited in the past. World and World elite seem to offer additional insurance or protection benefits and upgraded services and discount offers.

A merchant does not charge a price difference between different types of credit cards and they select which issuer they accept. I get greater rewards and a better card. Mastercard and Capital One have a right to make more money on their products by charging higher fees for more premium cards.

There is no catch as a consumer. Business owners are responsible for their own cost of business.

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 4439
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Does Anyone Think Capital One Cards Suck?

Postby CarefulBuilder14 » Wed May 31, 2017 6:28 pm

mountaindewvoltage wrote:
CarefulBuilder14 wrote:
mountaindewvoltage wrote:I must admit that after making this thread, I made a mistake about the Venture. All of the other Capital One cards suck.

I like my metal Venture card (thought I'd try one out). Capital One gave me a $15,000 limit (my next highest is $5,600) and the rewards are pretty straight forward. It's not really a card to use by itself, but one to use in combination with an airline transfer or hotel card.

It's good for travel-cash bonus chasing, but after the first year many card geeks decide they don't want to pay an AF for a 2% travel-cash card. There has been a lot of discussion on MF about people asking for AF waivers, PCing and/or combining cards to preserve their big Cap One CLs while avoiding AFs.

What it pairs well with is debatable. You said the other day you were looking at a hotel stay where you could redeem Starpoints for 3.4 cpp. With those kinds of values, why pay an ongoing AF for a mere 2% travel card? Keeping one would seem more superfluous than complementary.


That's why if they don't waive the annual fee I'd just get rid of it or downgrade to the Venture One.

I'm really hoping Starpoints don't become devalued next year, but as a backup I now have a Chase Hyatt card which will replace it because I'm assuming the Starwood points won't be worth that much in the upcoming future. The Hyatt card can give me roughly 2.7 cpp and there's no indication the program will become devalued any time soon.

The thing about the Starwood card is it's an AMEX, so it's nice having very good to great Visa/MasterCards to go along with it.

After closing your old Venture, they would probably approve a new Venture with a new bonus. People don't seem to love their Venture cards as much as the concept of the card: earn a bonus, close/consolidate/PC, repeat.

I'd be curious to see Cap One's accounting records for that card. Relaxed credit standards, high CLs, a healthy travel-cash bonus up front, and AF dodging vs. a high APR.

SPG is supposed to remain separate from Marriott until at least 2018. I've been redeeming points well lately, and will take my chances earning Starpoints over BofA travel-cash until the SPG nerfs hit.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 4439
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Does Anyone Think Capital One Cards Suck?

Postby CarefulBuilder14 » Wed May 31, 2017 9:36 pm

aj023 wrote:
CarefulBuilder14 wrote:
aj023 wrote:Can't comment on what benefits I would use, but just the appeal of a higher end card and rewards for dining and groceries that I want along with no foreign currency fees is why I already chose the Capital One card. The card offers higher tier programs generally on travel but perhaps the concierge will be better for dining or card replacement will be easier abroad or whatnot.

Are you talking about upgrades on Y-fare air travel?

Card replacement, here or abroad, would be handled by Capital One, not MC. I'm not sure how smooth or fee-free the process would be, but they don't have a reputation for getting cards to customers quickly in most parts of the world like Amex has.

There is some concierge service with WEMC and it gets generally good reviews. I've not heard of anyone making some extravagant request to see how far it goes.

I know WEMC feels like a really exclusive/premium thing, but it's really just about making merchants pay higher fees. It sounds like you have some vague idea that there are premium benefits, but in most cases those benefits come with a catch.


If that were true, my existing World Mastercard credit cards would have already been converted to Elite to get more fees. That did not happen. Elite seems to be coming more widespread now when it was more limited in the past. World and World elite seem to offer additional insurance or protection benefits and upgraded services and discount offers.

A merchant does not charge a price difference between different types of credit cards and they select which issuer they accept. I get greater rewards and a better card. Mastercard and Capital One have a right to make more money on their products by charging higher fees for more premium cards.

There is no catch as a consumer. Business owners are responsible for their own cost of business.

Several cards that used to be issued as one V/MC card tier are now issued as another without much of a change in what the cards offer. Just because a trend is gradual and hasn't affected you yet doesn't mean it isn't happening.

The WEMC "catches" I referred to were things like:
-They charge customers for using many of the services like airport guides.
-The "discounts" are often illusory because better ones are obtainable elsewhere. Last I checked, Madame Tussaud's charged a lower price for VS cards...but an even lower price for buying your ticket online with any card. NY Botanical Garden gives 10% off for paying with a MC, but 20% off for having AAA.
-Price protection with MC is limited to four claims per 12 months. I can do four claims in a quiet month with Citi with less hassle (and higher per-item and annual limits).
-Baggage delay insurance is limited, has some exclusions, and is secondary to other policies. A four hour delay requirement isn't too bad, though.

In some states merchants can legally charge more for paying with a certain card.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

aj023
Gold Member
Gold Member
 
Posts: 39
Joined: Sat Jan 23, 2016 3:22 pm

Re: Does Anyone Think Capital One Cards Suck?

Postby aj023 » Thu Jun 01, 2017 12:09 pm

No card is perfect. Most people don't even use or know about their card benefits. There isn't one ideal card and the Capital One Premier dining rewards fits a nice niche. There is a reason we carry multiple cards.

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 4439
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Does Anyone Think Capital One Cards Suck?

Postby CarefulBuilder14 » Thu Jun 01, 2017 1:21 pm

aj023 wrote:No card is perfect. Most people don't even use or know about their card benefits. There isn't one ideal card and the Capital One Premier dining rewards fits a nice niche. There is a reason we carry multiple cards.

I agree no card is perfect, but you either have low standards for what makes a card "premium" or you've been drawn in by marketing without reading the fine print and comparing it to alternatives.

The kinds of benefits you talk about potentially using I have actually used, and I've come to see that what an issuer offers is often much more useful than what the network offers.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

aj023
Gold Member
Gold Member
 
Posts: 39
Joined: Sat Jan 23, 2016 3:22 pm

Re: Does Anyone Think Capital One Cards Suck?

Postby aj023 » Thu Jun 01, 2017 5:01 pm

CarefulBuilder14 wrote:
aj023 wrote:No card is perfect. Most people don't even use or know about their card benefits. There isn't one ideal card and the Capital One Premier dining rewards fits a nice niche. There is a reason we carry multiple cards.

I agree no card is perfect, but you either have low standards for what makes a card "premium" or you've been drawn in by marketing without reading the fine print and comparing it to alternatives.

The kinds of benefits you talk about potentially using I have actually used, and I've come to see that what an issuer offers is often much more useful than what the network offers.


This card will save me money on what I use it for and has a great balance of features for a no annual fee credit card.

It shows to me Capital One has upped their offering to be more competitive and is a great card overall.

I have left issuers such as Bank Of America, Citibank, Discover and others. My best issuers are Barclays, Amex, Capital One and Chase. I had numerous cards caught in mergers and after the mergers, they went downhill.

If Capital One truly sucked, I would not have gone back to them as I have a perfect score over 800 and can get any card I wanted. This card made the most sense to add based on my spending patterns ans I was actually surprised when I saw it had everything I was looking for when it comes to food based purchases. With promotion and 3% rewards I don't see any profit in it for Capital One from me. But perhaps it helps them get some interest spend or fee based revenue from a few people.

If I had to say who is the worst, it would be Synchrony and Citibank.

Capital One doesn't have high end annual fee luxury credit cards or cards issued for very high net worth individuals which are invite only. But their World Elite MasterCard products are highly competitive for rewards along with a nice set of features and better customer service than Citibank has on a card like Citibank Double Cash World Elite.

mountaindewvoltage
Centurion Member
Centurion Member
 
Posts: 383
Joined: Mon Oct 10, 2016 8:40 pm

Re: Does Anyone Think Capital One Cards Suck?

Postby mountaindewvoltage » Thu Jun 01, 2017 10:08 pm

aj023 wrote:
CarefulBuilder14 wrote:
aj023 wrote:No card is perfect. Most people don't even use or know about their card benefits. There isn't one ideal card and the Capital One Premier dining rewards fits a nice niche. There is a reason we carry multiple cards.

I agree no card is perfect, but you either have low standards for what makes a card "premium" or you've been drawn in by marketing without reading the fine print and comparing it to alternatives.

The kinds of benefits you talk about potentially using I have actually used, and I've come to see that what an issuer offers is often much more useful than what the network offers.


This card will save me money on what I use it for and has a great balance of features for a no annual fee credit card.

It shows to me Capital One has upped their offering to be more competitive and is a great card overall.

I have left issuers such as Bank Of America, Citibank, Discover and others. My best issuers are Barclays, Amex, Capital One and Chase. I had numerous cards caught in mergers and after the mergers, they went downhill.

If Capital One truly sucked, I would not have gone back to them as I have a perfect score over 800 and can get any card I wanted. This card made the most sense to add based on my spending patterns ans I was actually surprised when I saw it had everything I was looking for when it comes to food based purchases. With promotion and 3% rewards I don't see any profit in it for Capital One from me. But perhaps it helps them get some interest spend or fee based revenue from a few people.

If I had to say who is the worst, it would be Synchrony and Citibank.

Capital One doesn't have high end annual fee luxury credit cards or cards issued for very high net worth individuals which are invite only. But their World Elite MasterCard products are highly competitive for rewards along with a nice set of features and better customer service than Citibank has on a card like Citibank Double Cash World Elite.


How is Citi Bank the worst? In customer service? Sure, but not their card offerings.

-1% + 1% Double Cash with first late payment fee waived.
-Multiple AA cards, one with Admiral's Lounge access at a discounted price.
-ThankYou Premier and ThankYou Prestige cards are very good -- Thank You Preferred sucks though.
-AT&T Access is a solid offering for a card with no annual fee and can be combined with the above.
-Two Expedia cards
-Citi Costco (4% back on gas, 3% back on traveling and dining, 2% back at Costco, 1% everywhere else)
-While not my favorite rewards program, Citi offers two different Hilton Honors cards.
-21 month 0% interest Simplicity with no late fees ever and no penalty APR.
-21 month 0% Citi Diamond Preferred.


Most Double Cash cards are World MasterCards... Very few are World Elite. The TYPrem and TYPrestige are both World Elite MasterCards, along with the AA Executive card.



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 3 guests