Capital One Venture downgrade denied!

[Woofwoof]

Hello folks:

I have owned Capital One Venture for one year, got my sign up bonus, and now want to downgrade to a no-fee card. So, I called and asked for it...the agent said this option was not available. Does any of you have the same experience? If so, how did you get around this initial rejection?

Thanks a million!

[Mf1]

U can close card within 30 days of AF billing
See here https://www.dansdeals.com/credit-cards/capitalone/dont-forget-finish-spending-capital-one-venture-x-travel-vacation-rental-credit-aware-capital-one-downgrade-quirks/

[Gvann]

Did you HUCA?

[yochai]

Hello folks:

I have owned Capital One Venture for one year, got my sign up bonus, and now want to downgrade to a no-fee card. So, I called and asked for it...the agent said this option was not available. Does any of you have the same experience? If so, how did you get around this initial rejection?

Thanks a million!

My experience with Cap1 is that they don’t offer a downgrade option till after the 2nd AF posts. At that point they won’t reimburse the AF for downgrading, so you may as well keep it for another year…
If you cancel you also won’t get the fee reimbursed, so choices are: cancel before AF posts, or keep for 2 years before downgrading.

[Danfan24]

Had the exact same thing.... The Pakistani on the other end of the line told me to call back once the AF has posted, so we can see if they have more options.

Just wondering how bad it is for my credit score if I close the card now?