ASK LUCKY (and each other)


Have a travel related question? Post it here, and I’ll do my best to answer it as quickly as possible.

Anyone can post a question, but you'll get the most benefit from registering to join our forum. You'll be able to see when your question is answered, and like comments from other users.

This space is intended to be more of a community as well, so feel free to jump in and share tips!

Thanks for reading!

Best,
Ben

Credit Cards CapitalOne Venture

Discussion in 'questions. answers. conversations.' started by Steve S., Aug 4, 2015.

  1. Steve S.

    Steve S. Reader

    Lucky,

    I read through and went through each of the cards you recommended for traveling and also everyday spending. I don't see anything about the CapitalOne Venture card. Can you please provide me with your thoughts on the Venture card?
     
    #1
  2. Stav9678

    Stav9678 Member

    Messages:
    31
    Likes Received:
    1
    Hi Lucky,

    I read all of your recommendations about the credit cards for travel and the everyday credit cards. I read about the CapitalOne Venture card that you get 2 miles for every dollar you spend on purchases not just on certain categories, rewards never expire, you can redeem your miles for travel, shopping, etc. but what really stands out to me is that you can redeem them for cash and purchase whatever you want. You get 40,000 miles sign up bonus after spending $3,000 on purchases in the first 3 months, no foreign transaction fees, etc. I would like to get your thoughts on this card please.
     
    #2
  3. MidSouth Skier

    MidSouth Skier Well-Known Member

    Messages:
    1,976
    Likes Received:
    1,010
    @Stav9678 this card can be great for the signup bonus for use on domestic (or cheaper) flights as the max value you'll get is around 1 cent point. So that 40K signup bonus is worth ~$400. That's not a bad deal at all and if most of your travel is domestic and in economy it may work for you.

    But if you want to fly in premium cabins it's not a great card to use. A business class ticket to Europe may cost over $2000 so you'd need ~200K points to pay for that outright. That's a lot of spend on the credit card!

    That's why Ben touts the value of other cards that either earn miles in a frequent flyer program or cards with transferable currencies like the Chase Sapphire Preferred or one of the Amex cards that earns Membership Rewards. These can be used to redeem points at a value of more than 2 cents per mile at times.

    The "best points-earning card" is a myth in the sense that there's no single "best" card. Depending on your travel & spending patterns and plans, there is a card that's best for you that may be different from what's best for someone else.
     
    #3
  4. Gaurav

    Gaurav Well-Known Member

    Messages:
    4,030
    Likes Received:
    1,726
    @Stav9678 Another reason folks tend to shy away from Capital One credit cards is that they pull your credit report from all three credit bureaus instead of using one like most other issuers. This does affect your credit profile somewhat.
     
    #4
    Tiffany likes this.
  5. Stav9678

    Stav9678 Member

    Messages:
    31
    Likes Received:
    1
    Thanks MidSouth Skier. I didn't look at the value of a mile, I pretty much was focused more on the flexibility of redeeming miles and ease of redeeming. I meanly will be flying Domestic but occasionally I would love to take an International trip and when it came to that I was thinking more like look at the price of a economy ticket and redeeming my miles for cash and using that extra cash to purchase a more expensive ticket like Business and so forth. I meanly fly on AA now but in the past I just purchased tickets on whatever airline was cheapest but after running across an Article about Lucky and flying for "free" I found this website and I have intrigued by flying for as little as possible.

    I know now that's it's not free by reading the articles on this website. Yes, I'm very new to this and trying to look at my options and figure out what's best for me or how best to accomplish my goal of traveling to great places at a very low price and stay at hotels, etc. I currently have 42,361 miles with MileagePlus and 43,581 with AAdvantage. I'm not planning on using my MileagePlus at all since I will focus on AAdvantage. What you think would be best to do with my MileagePlus? I don't suppose I can someone get them into another rewards that's affiliated with AA?

    Please share your thoughts on what I have just said. Thanks
     
    #5
  6. Gaurav

    Gaurav Well-Known Member

    Messages:
    4,030
    Likes Received:
    1,726
    @Stav9678 If you mainly fly domestic routes, you may find that your best option is a cash or cash equivalent-back card. By this I mean something like the Venture, Arrival Plus, Doublecash or something that earns southwest miles (their own card or one the Chase UR cards). Usually the flexibility offered by using cash and freedom to fly any airline is hard to beat. You don't have to worry about award seat availability, you'll earn miles for your trip, and the flights are short enough that minor discomfort is not too big of an issue. For international flights, I would say it is definitely worth it to collect traditional miles. They can add a lot of value and make long trips comfortable. What programs you should focus on depends on what destinations you want to fly to. Different programs have different strengths and you'll need to do some research on where and when you want to travel. Lastly, miles within the Mileageplus program are not transferable to other programs so you'll have to keep them there. That's not a bad thing though. Sometimes you'll need alternate currencies to buy "positioning" flights to connect to your award destination or you may find domestic flights that you can book at the saver level for good value.
     
    #6
  7. MidSouth Skier

    MidSouth Skier Well-Known Member

    Messages:
    1,976
    Likes Received:
    1,010
    @Stav9678 plus UA sometimes offers a mileage discount on short flights where it's only 10K miles one-way vs. the normal saver-level of 12.5K. That means your 42K miles could pay for two round-trips if needed.

    I'd definitely do something every year to contribute to your UA miles (or spend them) to keep the account active so that you don't lose them. That can be as simple as buying something from iTunes through the UA shopping portal. Buying a single song and ensuring the purchase gets tracked will be enough to keep your UA account active for another 18 months.
     
    #7
  8. Tiffany

    Tiffany One Mile At A Time

    Messages:
    5,929
    Likes Received:
    1,695
    @Stav9678 -- Also, just because you're not going to fly United doesn't mean you can't rack up more United miles! Chase Ultimate Rewards transfer to United, so if you did decide to take an international trip in future you'd have a head start there.

    Every single mile counts, and none of them are "bad" -- they just each have different uses.
     
    #8
  9. Stav9678

    Stav9678 Member

    Messages:
    31
    Likes Received:
    1
    Thank you very much for your response. I have the United MileagePlus credit card therefore I don't need to worry about my miles expiring since if I recall it says as long as my credit card is active then my miles don't expire. I also have The Citi World Elite card for AA so I can on using that for my flights purchases since I get Priority 1 boarding, first check bag free, etc. Again thank you for your reply.
     
    #9
  10. Stav9678

    Stav9678 Member

    Messages:
    31
    Likes Received:
    1
    Thank you MidSouth Skier for your reply. I have the United MileagePlus credit card and I think as long as my card is active my miles don't or will not expire so I should be good on that part. As far as points goes I was looking for a rewards program that have AA that I can redeem my points for. I would like to stick to AA if I can so I can hit a million miles someday and become a Gold Member for life and so forth since I do not travel a whole lot.

    Chase, well I don't like Chase simply cause, the cards that I have with them have the highest interest rate so I'm done with Chase. Is there any rewards program that I can transfer to AA miles you recommend?
     
    #10
  11. Stav9678

    Stav9678 Member

    Messages:
    31
    Likes Received:
    1
    True, I will consider it but what's your best recommendation when it comes to rewards/points that can be converted to AA miles?
     
    #11
  12. MidSouth Skier

    MidSouth Skier Well-Known Member

    Messages:
    1,976
    Likes Received:
    1,010
    Right now the only points that can be transferred to AA miles are SPG points that you can get from the SPG Amex. While there are no bonus spend categories (except Starwood hotels) the nice thing is that for each 20K SPG points you transfer to AA you get a 5K bonus. (The same is true of many airlines and SPG has a LOT of airline partners). If you spend 40K on the SPG card in a year you'll get Starwood's gold status too.

    The usual bonus for the SPG card is 25K points after $3000 in purchases in 3 months. About once a year (in the fall, IIRC) they'll increase the signup offer to 30K points but that's as good as it gets. The current rules for Amex personal cards state you only get the bonus once in a lifetime so if you can wait for the 30K offer, I'd do that.

    There's also the Citi Executive MasterCard. It's pretty expensive at $450 (NOT waived the first year) but it includes an AAdmirals Club membership and other benefits that might make it worth your while. See the Best Credit Cards page tab for more details on these cards.
     
    #12
    Tiffany likes this.
  13. Tiffany

    Tiffany One Mile At A Time

    Messages:
    5,929
    Likes Received:
    1,695
    Just one note on interest rates -- the best travel rewards cards all have high interest rates.

    If you aren't paying your balance in full every month, you really are best off with a less lucrative card or a debit card. The interest and fees quickly outpace the "value" of the miles or travel rebates.
     
    #13
    Gaurav likes this.
  14. Gaurav

    Gaurav Well-Known Member

    Messages:
    4,030
    Likes Received:
    1,726
    @Stav9678 I second what @Tiffany said. If card interest rates are any kind of factor for you, you should not be using reward cards until you can pay your bills in full every billing cycle. Also depending on what flavor of Chase card you hold, it might be worth it for you to just buy an iTunes song every year instead of paying an annual fee of $95 if you are not actively building United miles or flying the airline.
     
    #14
  15. Stav9678

    Stav9678 Member

    Messages:
    31
    Likes Received:
    1
    Thank you all so much for replying to my post, all have been very helpful. The Chase Ultimate Rewards can they be transferred or converted to AA miles? Also lets say I get one of the recommended cards and to reach that $3000 or so spend in 3 months. If I pay my Bills on that card like mortgage and so forth that would be considered a spend correct and count towards that $3000 in 3 months right? Just making sure and I will pay that off every month.
     
    #15
  16. Gaurav

    Gaurav Well-Known Member

    Messages:
    4,030
    Likes Received:
    1,726
    Yes all of those things will count towards your spend (usually annual fees, balance transfers, and cash advances do not count). Chase UR cannot be transferred to AA miles. In the US SPG is the best non-AA currency that will convert to AA.
     
    #16
  17. Stav9678

    Stav9678 Member

    Messages:
    31
    Likes Received:
    1
    Thank you again Gaurav can you or someone here tell me where would find out information about Chase Ultimate Rewrds? I can find a lot or simply go to starwoodhotels.com and find information but not chase.com for Ultimate rewards. I would like to see their partners and so forth.
     
    #17
  18. Gaurav

    Gaurav Well-Known Member

    Messages:
    4,030
    Likes Received:
    1,726
    @Stav9678 I don't know of any consolidated post (although I'm sure they are out there). I would just go to the blog home page and punch in Ultimate Rewards into the search box. You'll find a bunch of posts about the different uses of UR points. If you have specific questions feel free to ask here.

    Chase also lists some FAQs here but they are geared towards redemption for tickets booked on the UR site as opposed to transfer to loyalty program options.

    If you want to see all the transfer partners you can find them here. They are listed under ways to use rewards.
     
    #18
    Tiffany and Stav9678 like this.
  19. MidSouth Skier

    MidSouth Skier Well-Known Member

    Messages:
    1,976
    Likes Received:
    1,010
    #19
    Tiffany and Stav9678 like this.
  20. Stav9678

    Stav9678 Member

    Messages:
    31
    Likes Received:
    1
    Thank you both for the links. MidSouth Skier that spreadsheet is awesome and Gaurav that's exactly what I was looking for, thank you both so much.

    I noticed that the UR can be transferred to Marriott Rewards program and I know you can choose to get AA miles in place of Marriott points so does that mean I can transfer UR to MR and then to AA?

    I have a Marriott Rewards account and I selected to get AA miles instead of their points but I don't know if that means I can covert points to AA miles.
     
    #20