BajaNomad

Capital One Venture Rewards card

pauldavidmena - 9-6-2015 at 04:28 PM

There have been a number of discussions on this forum about credit cards, specifically cards that don't charge foreign exchange fees. The Capital One "Venture Rewards" card seems to be one of those, and also has other advantages that benefit frequent travelers, such as what appears to be an easy, flexible plan to accrue credit toward air fare and lodging purchases. On the other hand, I've also read that Capital One can be pretty aggressive in marketing other products (consumer loads, home refinancing) and has some fairly eye-opening clauses in its terms of service (including authorizing personal visits and use of phone ID spoofing technology among others). Knowing what P.T. Barnum said about something seeming too good to be true, I have to wonder how much of this is true and how much is misinformation floated by the competition.

Which all leads to the question: does anyone out there have a Capital One Venture Rewards card? If so, what has been your experience with it?

Thanks in advance as always.

Cliffy - 9-6-2015 at 05:01 PM

I HAD a Capital One card and cut it up after the first Baja trip.
I got it just because of the no fee aspect AND I called to verify that it would work in Baja AND I called again 1 day before we left to mark our file to show we were going to Baja for 3 weeks.
The first time I went to use it they cancelled it!
So when I returned- I cancelled them.
Then they called to verify I wanted to cancell it and told me that if I did I'd never get another one! Told them to stuff their card.
Great customer service.

tripledigitken - 9-6-2015 at 06:09 PM

Different experience for us. Have had the plain Jane card for 10 years with no complaints. Never a charge for international transactions. We always call or notify online before our trips.

pauldavidmena - 9-6-2015 at 06:13 PM

It occurs to me that I've never called my credit card company before leaving the country and have never had an issue, but perhaps I've just been lucky.

pauldavidmena - 9-7-2015 at 05:09 AM

Also interesting to note: 2 replies, 2 diametrically opposite experiences.

mjs - 9-7-2015 at 07:01 AM

Have it. Use it. No issues. That's been our experience. YMMV

vandenberg - 9-7-2015 at 07:05 AM

We have had trouble with Cap One cards even when we called it in before using it. As a matter of fact, many times.
We now have the B of A travel reward card and have been using it with no issues at all.

And... it gets you the most favorable exchange rate.

[Edited on 9-7-2015 by vandenberg]

pauldavidmena - 9-7-2015 at 07:16 AM

My main credit card is a Visa from FIA Card Services (formerly MBNA), courtesy of my former employer Fidelity Investments. One can accrue points that can be redeemed for miles, but the process borders on infuriating. Lately I've just been redeeming the points for credit against my balance, which I pay off monthly. Apart from that minor annoyance, the card's other shortcoming is that I pay a 3% foreign transaction fee when visiting Mexico.

Hook - 9-7-2015 at 07:29 AM

I've had no complaints. I've been using it in Mexico for the last two months, almost exclusively for my purchases. No cancellations. So, I am a very RECENT owner of their card. Maybe that will serve to contrast with others who had a bad experience a few years ago. I cant say I have received ANY sales pitches from them.

When I received it, I did notify them of my SPECIFIC plans to be in Mexico and then to be using it in Spain and Italy.

I did the same with my cards through my credit union. Cant have too many cards on The Continent, eh?

I am going to single-handedly bring the EC out of its financial funk, especially purveyors of tapas, tempranillos, finos and Brunellos.



[Edited on 9-7-2015 by Hook]

pauldavidmena - 9-7-2015 at 07:42 AM

I've worked very hard to reduce my revolving credit down to zero, so I only use my credit card to charge up to what I can afford to pay off by the next statement. Anything beyond that goes on a debit card that goes against my Fidelity "Sunny Day Fund". But regardless of whether of not I get the Capital Once card, I will definitely heed the good advice of notifying the card company before going out of the country. I feel like I may have been living on borrowed time.

mtgoat666 - 9-7-2015 at 08:35 AM

Quote: Originally posted by pauldavidmena  
My main credit card is a Visa from FIA Card Services (formerly MBNA), courtesy of my former employer Fidelity Investments. One can accrue points that can be redeemed for miles, but the process borders on infuriating. Lately I've just been redeeming the points for credit against my balance, which I pay off monthly. Apart from that minor annoyance, the card's other shortcoming is that I pay a 3% foreign transaction fee when visiting Mexico.


If you were employed by Fidelity, perhaps you have a Fidelity acct. if so, they provide a great free Visa card I use, and it pays cash back instead of silly airline or travel points. Their ATM card also waives ATM fees, so can be used anywhere.

Accumulating points is silly, just get cash back.

rzitren - 9-7-2015 at 01:50 PM

I have had a Venture card for a number of years. No foreign transaction fees, no solicitation for marketing of other things. 2 miles for every dollar spent. Easy website to redeem miles. Even if you pay for travel, using their website usually gives you a discount. I always pay the balance each month so I do not know what the interest rate is. I always call ahead when travelling out of the country and have had no problems. In other words it is my go to card. I have one for my business and one personal and you can transfer miles from one to the other without a fee.

pauldavidmena - 9-7-2015 at 02:29 PM

Quote: Originally posted by mtgoat666  

If you were employed by Fidelity, perhaps you have a Fidelity acct. if so, they provide a great free Visa card I use, and it pays cash back instead of silly airline or travel points. Their ATM card also waives ATM fees, so can be used anywhere.

Accumulating points is silly, just get cash back.


I do have a Fidelity account, and enjoy having the Visa card without having to pay an annual fee. I also have a Fidelity debit card, but have never used it at an ATM. That might be worth looking into.

Martyman - 9-8-2015 at 01:15 PM

Quote: Originally posted by Hook  


I am going to single-handedly bring the EC out of its financial funk, especially purveyors of tapas, tempranillos, finos and Brunellos.



[Edited on 9-7-2015 by Hook]


Did he say Brunello? One of my favorite words along with Barolo and Barbaresco. Go get 'em Hook!