AVOID Capital One Credit Cards (UNLESS You Can Handle 6 Things!)
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- čas přidán 30. 06. 2024
- The 6 MOST Important Things w/ Capital One Credit Cards..
💳Capital One Venture X: mattwelter.info/venturex
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💳Capital One Savor One: mattwelter.info/savor-one
Ever since the Capital One Venture X debuted around 2 years ago, one Credit Card Setup that has been growing in popularity, is the Capital One Duo, which is the pairing of the Capital One Venture X & Capital One Savor One. On the surface, a Credit Card Setup like the Capital One Duo is great. It’s simple & easy to use, it’s more affordable than other travel Credit Card Setups, it covers a ton of spending categories, and it has some luxury travel benefits as well. However, before you even think about adding the Capital One Duo or any other Capital One Credit Cards, you need to make sure that you can handle these 6 Things!
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Timestamps:
0:00-0:34 Why You Should Avoid Capital One Credit Cards (6 Things)
0:34-1:58 Value of Capital One Miles Is LOW
1:58-3:56 Capital One Travel Partners Are WEAK
3:56-5:45 Capital One’s Strict Application Criteria
5:45-8:12 Downsides of $300 Travel Credit on Venture X
8:12-10:32 Spending/Travel Preferences Must Align With Capital One Duo
10:32-12:32 Capital One Customer Service SUCKS
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What are your thoughts on Capital One Credit Cards? Let me know ⬇
🎥Capital One Venture X: I Was SHOCKED- czcams.com/video/naYNla381C4/video.html
💳Capital One Venture X: mattwelter.info/venturex
💳Capital One Savor One: mattwelter.info/savor-one
I actually ran this setup for all my spend for a year from 22-23 and it was actually awesome. I really value the app experience and having a Visa card in my pocket for Costco was a plus. I ended up redeeming the points through the travel portal to take my family to a cabin at the lake for a week. Flying a minivan full of people is prohibitively expensive so being able to redeem points for redemptions that you can drive to is critically important.
Totally get that! And I can see how in that case, booking travel through the Portal could be the most seamless & easiest way to go. Thanks so much for watching!
I've been using this Dynamic Duo setup for a few months now and I'm loving the perks and Value they're providing me. I have a catch All in the Vx & great multipliers in the Savor One.
Thanks for the Info Matt !!
Very true! You definitely cover a lot of your major categories just with these Two Cards only! Thanks for watching Jonatan!
Card is tailor made for me and thrilled I just got approved this week. Don't travel enough/value Amex coupons enough to need centurion over priority pass. And the travel credit is perfect for the sleepy beach towns we frequent as a family that have limited options near the water in any of the major chains. That plus no fx fees, etc, make it the perfect complement to the chase/Hyatt ecosystem. Planning to use my sign up bonus for a couple of flights to Paris with my wife later this year!
That's awesome Alexander! You want to make sure that whatever Credit Cards you have in your Core CC Setup work for you- and if you stay at places like those sleepy beach towns where there isn't as much exposure from major hotel chains, then I could definitely see how you get a lot of value from the $300 Travel Credit on the Venture X. Thanks so much for watching!
Should have added I appreciate the counter point and making me pause to consider all angles of future applications. Your channel has quickly become one of my favorite in the space. Keep pushing!@@MattWelterOfficial
Awesome work Matt! Keep going, like how you are not bias to capital one....not all card work for everyone
Thanks so much Auguste!
Great video Matt! Always great to keep perspective on some of the lender issues in the credit card game. Hoping that one day I’ll be able to get the Venture X😆
Absolutely! Thanks so much for watching Jake! I too even with the other perspective I took in the video, would still love to add the Venture X sometime in the future!
Great video Matt. I was approved for the Venture X in Nov and already used my $300 travel credit for an important upcoming flight. The Venture X is a great "catch-all" card IMO. I do wish they had some decent hotel partners though. For me it pairs nicely with the Savor One. Since I won't be able to organically use all the dining and uber credits for the AMEX Gold, I use the Savor One as my dining and Grocery card.
I've been dealing with Cap One for a few years, and their customer service, while it's no AMEX, is getting better.
Thanks so much! And yeah the Venture X can absolutely be a great catch all card if you value cap one miles highly and are able to leverage high value travel partners. That’s great to hear that Cap One is at least on the right track with getting their customer service better haha. Thanks so much for watching!
Excellent info & thanks
Thanks for watching Geoffrey!
Great job on video❤
Thank you Vicki!
Great vid but That venture x is still hands down one of the most valuable travel cards. problem is it has to be prioritized directly after chase......if you are too deep in the game you now have to take a year off without applying for anything & then re apply for venture x & should be approved. Captial one is goofy in this way.
You should get your CapOne cards before Chase
Yeah I totally agree with you Lewis! Always important to understand both sides to things, but I agree the Venture X can still be one of the most valuable travel cards if you maximize the Travel Credit & Bonus Miles. But yeah haha, Capital One is super sensitive to inquiries so you either got to get it early, or garden your inquiries for awhile/prioritize Business Cards for awhile since they don't show up on your Personal Credit Report. Thanks so much for watching!
@@Adiscretefirmfax. And the VX > CSP and CSR
I have the Vx, and p2 has Vx and Savor1. Cards are decent if u can use the points. I like the lounge access. And the 10x on Uber with the sav1 has been a point producer. Thanks for the vid Matt!!
Definitely. If you have some sweet spots in terms of getting value from Cap One Travel Partners then agreed in terms of the point earning being strong. I’ve heard Cap One lounges are the real deal! Too bad there’s limited locations right now. Thanks for watching Phil!
Nothing feeling Capital One credit cards. I do love their checking & savings accounts for higher earnings than most brick & mortar banks
Definitely some good value from their Checking & Savings Accounts for sure!
I love my 360 checking!
I use SoFi for that because you can invest right from their platform too
My experience with capital one customer service has always been excellent. Always US based and always helpful
Hmm interesting I’ve had the very opposite experience, thanks for sharing though Barry!
Thank you Matt. Capital One is my arch rival
😂😂you’re welcome Sledge
I'm almost there with Amex.
@@chadpennycuff I have 12 Amex and have probably had 16 so they are good with me
@@chadpennycuffikr. Time dump Amex. At least until they change their rules again in a Cpl years
If they’d lend more or not have 50/50 odds and triple pulls and stingy cl increases they be above the competition!
I’ve applied VX last month and they asked me to submit some documents I haven’t done anything because I realized I applied the wrong card. I actually want the Venture card. Do I have to wait another 5 months to apply again or I can do it sooner. Thanks!
Love the capital one app
I think it depends on who you get. I’ve never had a problem with customer service.
Nice Nicholas! Yeah I'm sure it definitely depends for sure.
I agree with the terrible customer service. I couldn’t even get a competent rep to help me with fixing some points issue I had. Had to call 3 different times to get this resolved
I currently have the CSP, and noticed I've been travelling a lot the past 2-3 years but don't want to upgrade to the CSR. My sister in law just got the Venture X last year and I'm thinking of getting it to get access to Priority Pass. I'm going to Japan this coming April. I wonder if the card will make it 😅
Try out their preapproval first! If you go directly to their venture x page it should prompt you for the preapproval so you’ll know if you almost guaranteed for the approval! I did it last night after waiting for close to 8 months and I got in without any issues!
Good luck!
I value the Savor One card only C1 card I care about in my portfolio. I have the Quicksilver and Walmart Rewards cards too both are decent hopefully a pc will happen in time for the Quicksilver. I’d also enjoy an upgrade to MC on my Walmart Rewards card hopefully when and if it changes banks I’ll get it! Capital One 360 banking is solid!
Capital One 360 Banking is definitely solid and so is the Savor One! Thanks for watching Shawn!
I really appreciate this balanced review as I'm weighing out this decision. Your channel is undersubscribed and under-watched in my opinion. Thank you for the perspective.
Thank you so much Evan! I really appreciate those kind words and am happy the video was helpful!
Great video on downsides of capital one cards. Their travel portal seems great but I've had bad experience with it making me second guess keeping the card. Especially considering you need to use it to get back the $300 value each year.
Thanks so much Hugo! The restrictions with needing to utilize the portal for the Credit is definitely a major downside for sure.
I fly out of Dulles, so the Capital One Lounge there is a great perk.
Absolutely! That is a great reason to get the Venture X with your travel preferences aligning. Thanks for watching Buck!
What if you’ve reached the 6 month month in the same month you apply? Do you believe that will be a problem? Or as long as the 6 months has been established?
Capital one cheaping on credit limit is what grinds my gear, and my score is always around hight 700 and low 800.
Yeah they are definitely weird about Credit Limits too. So frustrating that you can seemingly do everything right, and still have problems with them haha. Thanks so much for watching!
I have a decade plus old quick silver that was 5k and got raised to 10k after 8 or so years. Then I got a VX and it was 30k sweet! Just completed the duo and the savor one is 5k wtf! Credit is around 815 so that’s not the issue.
@pappy924 I know you do have to apply a new card to get out of the C1 bucket. Right now I want to keep my 5/24 low.
Hey Matt. Thinking of getting the venture x early next year. I have 4 total cards, and 1 is the savor one. Do you think that is early on in the credit card journey?
I would say relatively yes! I would say definitely a major factor would be how many credit inquiries you have as well. Thanks for watching!
21 and planning to get the Venture x next year. Already have the student savor one I got last august with a 800 limit, discover it with 4250 limit, and Hilton honors with 26k limit. Doubt I was bucketed for the savor one as I applied for the student version
We spend a lot on Live entertainment, so the Savor One Rewards card is a great fit for us!
Unfortunately, we are in the 6 month Capital One jail house referenced in the video. 😢
Nice Serg! Seems like the Savor One is a perfect fit. Hopefully you can get out of Cap One Jail and lock in a Venture X in the future! Thanks for watching!
I'm not that interested in cards with annual fees at this point in my life even if they do have credits. I am quite interested in the savor one for its categories though. Groceries alone will add up to a sizeable amount over a year or longer
The Savor One is absolutely a super strong No AF Card!
Savor One is worth your time even has a 3% entertainment category!
I just need a new card so apply for venture one or venture
And also the cancellations. When I cancel the flight (Say American Airlines), I get the credit at least when booked through the direct website. However, when booked through the 3rd party, the amount is gone.
Very true! Definitely booking through a travel portal makes travel changes a logistical nightmare at times. Thanks so much for watching!
Aren't there data points that show that the C1 1/6 rule has been relaxed so that it is 1/3 (one C1 card application every 3 months)? Any idea what the rationale is for the 1/6 rule for everybody since many people that are not even close to being churners just want to build out the VX/S1 duo without waiting for 6 months and such a rule that is as strict as you say would probably mean people wouldn't want to wait and might just go with a Chase or Amex trifecta?
Seriously! That rule is so dumb and definitely loses Capital One a lot of customers. I’m actually not sure on the datapoints surrounding the rule being relaxed but thanks so much for bringing that up!
They still have subprime lender DNA despite moving upmarket
The quick silver and savor one cards both earn in cash back. When you rack up the cash back its listed in dollars and you can redeem the for dollar for dollar. Not 50 cent on the dollar. The venture x earns in miles THOSE can only be redeemed as cash back for .5 cents per point. Once the veture x is in the picture you can transfer the cash back from the savor and quick silver onto the venture x into miles after you do that THEN you can only tranfer them BACK to cash at .5 per point. Why would you turn cash into miles then back into cash for half the worth. Leave the cash back as cash until youre ready to use them as miles.
Now for the sign up bonus on the savor one. Im pretty sure you didnt get the sign up bonus because you got the regular version of the savor one unless when you applied it says either savor one for good credit or excellent credit the savor one comes with no sign up bonus. Im willing to bet you chose the regular savor wirhout checking whick one you actually got
Thanks for the feedback on the point value! To the second point, I was very confident that the Savor One was applied for correctly on the excellent credit for the signup bonus but of course I could have been wrong. Thanks for watching!
@@MattWelterOfficial I've heard that sign up bonuses are only for those who haven't had any other Capital One card sign up bonus in the previous 4 years. Could that be the case?
The sign up is 200
Your Airline Status should be recognized if you use a travel portal to book (It is on the American Express Travel Portal). Hotel Status is not recognized if you use a Travel portal to book. The Capital One Travel Portal is good for non chain hotels (Some areas do not have a chain hotel). The Capital One Savor One card sometimes codes purchases in the dining category while the American Express Gold card does not, they code differently on a few things.
For sure! Definitely some great considerations there. And like you said that Travel Credit is especially going to work best for boutique hotels or other areas of travel where you maybe don’t have status in. Appreciate you watching!
I got my VX 3 months after I got my S1
Nice! That's the way to do it!
I don’t need plane tickets, so I really liked the Wyndham rewards to Vacasa trade. I wish they were 1:2 like Chase and Hyatt.
Gotcha. Yeah I could see some value from Wyndham as a travel partner for sure. A 1:1 ratio makes it hard to get significant value though. Thanks so much for watching!
I have 4 cards with them, they are my least favorite financial institution & your analysis is correct. Their perks are not worth anything to me personally.
For sure, appreciate you watching Tariq!
Great vid. I’ve never read been comfortable with C1 but this vid put words to my feelings
Thanks so much Elliott! Awesome that the video resonated with you.
Venture one card. I'm not exactly sure how they calculate interest, however it's stupid high. My credit has averaged 750 for years and they only give a 1000 credit card that really isn't worth anything. Chase and Discover I have over 10K limits on both. I'm not sure how people get 40K cards with chump change jobs. I have seen plenty of that. I have excellent credit for 20 plus years. Maybe I'll just file Bankruptcy start over then get a high ass credit limit card.
I want a new C1 card but they are also so damn sensitive with prior credit card applications / approvals
For real! It’s so annoying haha. Thanks for watching Chase!
Does it still have the erase feature?
Yes!
@@MattWelterOfficial So that means we get at least one cent per point!
@@trave7644 For travel purchases yes! Not for straight cash-back
Wait, I thought CSP's transfer ratio is 1:1
How do you use the portal
Need a vid on that
I only use my phone and I can’t figure it out ?
No flights to Italy on days I need to go or hotels or bed and breakfast places .
Am I using it right .
I type in flight or hotel and can’t find them ,unavailable etc .
Plus I’m trying to get Savor
I have 4 , 2 quicksilvers a Walmart, a venture one .
I can definitely make a video on that in the future! Thanks for watching!
Nice video Matt. I cant wait to cancel the Venture X haha
Haha thanks for watching Jake!
That bad huh ha, I will never be eligible with such a large profile but it seems solid for a travel and 2x catch all card. I have a player 2 but $395 with a AF bump in time ehh ha!
Anyone need a venture X link? ❤
I ❤ C1
🤦Bruh. 3 of those airline partners are incredibly clutch for both domestic & international flights. And Wyndham is solid. Has waaay more properties than Hyatt.
You’ve been BRANDwashed.
Haha appreciate your perspective!
👍🏻
🥇
Capital one is difficult to do product changes with as well. They would not allow me to downgrade the savor to the savor one after holding the savor for a couple years. Very strange.
Wow that's ridiculous! I'd correlate that with their horrible customer service as well. Thanks for watching Gabriel!
You'll be able to downgrade to quick silver if you have a savor you can't down or upgrade to anything that has a "one" in the name
I think that's because they don't want people getting the Savor with $300 intro bonus and the perks, then downgrade to SavorOne with no annual fee a year later. I thought about that since I'm about to get a Savor card, but I'm sure there was a caveat trying to downgrade, so I'll apply for SavorOne.
This video about your wife 😂😂😅
those eyebrow movements make me dizzy
Sorry!
I'm 100% with you, Matt. I am not a C1 person.
💪🏽Thanks so much for watching Rick!
Turkish is no longer a good partner.
Agreed! That devaluation sucked!
I know to someone I'll sound like a hater, but this guy face expressions are annoying.
Thanks for watching man!
@@MattWelterOfficial Yeah appreciate the info, that's what's important.
I work for capital one. Get the venture X and you should only be speaking to Agents in the united states. They outsourced the majority of call center type jobs..... the people are nice but truly capital one dropped the ball to save money on customer service. Payments/general questions you dont speak to americans 95% of the time.
Good to know thank you!
Is savor one good for beginners