Capital One About to Cut TWO Credit Cards + NEW Venture BONUS

Hey, Credit Warriors, welcome to the show. And we have a Capital One themed episode for you today. We're going to talk about two Capital One cards that seem to be ending. OK, these cards are going away. And then another awesome bonus on the Capital One Venture that you can get now. OK, so stick around to the end of the show for that one. So first up, we have the Capital One Saver card. Now, I know a lot of people like this card, but Capital One has sent out letters saying that on July 16th, 2024, they will stop accepting applications to the Saver card. And you can see that on their website, you know, since that date has been and gone, that was yesterday on their website. They now only have the Saver One and the Saver for Students, Good Credit, etc. Just three versions of it, but not the actual Saver card. They're all Saver One. Now, Capital One said this in their email about this. We're always listening to customers and evaluating our products for the right offerings. Based on this, we have made the decision to remove Saver as a card offering. And I could have seen this coming, to be honest, because the Saver card, it started a few years ago and it was three percent on dining. OK, it was billed as the credit card for foodies. Then the Uber card came out and offered four percent on dining. OK, and so the Saver card kind of had to compete. So they upped the three percent to four percent, but they added an annual fee of ninety five dollars. Now, if you were one of the original people who had the Saver, one of the first applicants, I think you still retained it without the annual fee. OK, so I think there's still people grandfathered in without the annual fee and they're getting four X on dining or four percent on dining because it's cashback, not points. But yeah, they only did it. They only increased that to four percent to, you know, compete with the Uber card. But then the Uber card a few years later was also discontinued. OK, so the Uber card was discontinued. Now they got this Saver, which is four percent on dining, but it's got an annual fee. It's not really a good option because people who like cashback cards generally don't want annual fees. So the Saver one that they then, you know, brought out was sort of more like the original Saver, OK, three percent on dining, but no annual fee. That's what people want. OK, and people talk about the Capital One duo, the Venture X and the Saver one as being one of the best credit card duos you can have. All right. And yeah, also, if you didn't know, even though it's a cashback card, if you have like the Venture X or the Venture, you can convert that cashback to points and one cent becomes one point. So anyway, the Saver one is perfectly good. It's kind of similar to the original Saver. The actual Saver itself kind of became like not a very optimized product, I don't think, because it was developed that way, really, just to compete with the Uber card, which was then discontinued. So now it's kind of competing with no one. It's just out there on its own. Not really making much sense. All right. So anyway, Saver is being discontinued. People who have it, though, you're probably grandfathered in. We haven't heard whether you're going to be converted to another card yet, but we will let you know if you are. However, the people who hold our next card will be converted to a different credit card. And that next card is the Capital One Walmart credit card. It is also shutting down. If you go to the landing page where you used to be able to apply for that card, we now just have a statement saying that it is ending. There's also now a page explaining what is happening to current cardholders of the Capital One Walmart credit card. The partnership between Capital One and Walmart is ending and we will be unable to continue to offer the Capital One Walmart rewards card and the Walmart rewards card. Why did it say that twice? I don't know. Whatever. Let's keep going. For eligible customers who currently have one of these cards. OK, I guess there's two versions. We're excited to inform you that your card will be replaced with a Capital One Quicksilver MasterCard. What are they talking about? We're excited to inform you. What's that to get excited about? They're giving you bad news. The card you wanted was the Walmart card. They're giving you bad news and they're saying that it's exciting. Like, that's ridiculous. I hate when banks do this or when any company does this. And yeah, the Quicksilver card, it's 1.5% cash back. Most people will probably just cancel it. OK, this is not really worth having. Yeah. Ridiculous that they're excited about it. I remember one time at Six Flags, I lined up for a roller coaster and then a storm came and it started raining and they announced, guys, the roller coaster is closed like that. Like, we're really excited about it for some reason. And everyone just stayed in line. Like, what can't be real. What are they talking about? Why are they so excited and they're saying it's closed? And then someone else had to get on the microphone and say, yeah, it really is closed, guys. You got to go home. Well, not go home, but get out of line, you know, go and do something else. So, yeah, anyway, that was a segue. But anyway, if you have a Capital One Walmart card, just look out for a new Quicksilver card in the mail. The partnership actually ended because Walmart sued Capital One and a judge ruled that they could end it early. The date is unknown as of now when it's actually ending. But yeah, just do look out for a new card in the mail. All right. Now let's talk about some good news. And that is a new bonus on the Capital One Venture. This is a limited time offer and it is the regular bonus of 75,000 points plus an additional two hundred and fifty dollar travel credit for use with Capital One Travel if you spend four thousand dollars in the first three months. So if you value the points at one cent per point, that's seven hundred and fifty dollars plus two hundred and fifty. So one thousand dollars in value. Or if you use a points guy valuation of one point eight five cents per point, which takes into account using transfer partners, that's going to be one thousand three hundred and eighty seven dollars and 50 cents in value plus an extra two hundred and fifty dollars. So that's going to be one thousand six hundred and thirty seven dollars. Fifty Venture, of course, is the great mid tier credit card that earns two X Capital One miles on all purchases for a ninety five dollar annual fee annual fees on cards that earn points and miles make a lot more sense than on cashback cards. This is also a good alternative travel card to the Venture X. If you feel you don't need all the lounge access, which is basically what you are paying the higher annual fee for with the Venture X. Anyway, I will put a link to our top travel credit cards page on our partner website, creditcards.com, where you can find a mini review of this card, although it's only showing the 75000 point bonus here. If you actually click this little I thing here, it does show you that it is actually the deal for the two hundred and fifty dollar travel credit as well. All right, guys, short and sweet. Thank you so much for watching. Subscribe for the latest credit card news and deals as they happen. I'll see you next time. Bye bye.