Why not just cancel Capital One Venture after getting the bonus?

Why not just cancel Capital One Venture after getting the bonus?
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Hi there, any reason I should not just cancel my Capital One Venture card after I get my bonus?

I already got the money off of travel, I don’t want to pay an annual fee.

I can just switch to Chase Sapphire Preferred and get that bonus too, then switch to Capital One Savor…am I crazy? Will more hard inquiries occur and hurt me?


Hi aarontaylorweiss!

There’s a couple of great reasons not to cancel that Capital One Venture card so quickly–or do the other sign-ups and switches you mentioned. That kind of activity is considered “churning” and credit card companies frown upon it. Anytime you sign up for a new credit card, there will be a hard inquiry on your credit report. Too many hard pulls on your credit can adversely affect your score. Opening and closing multiple cards within a short period of time can be a red flag on your credit report too. This means you might not even get approved for a new card if your credit card sign-up and closure patterns seem to be that of a churner.

Also, when you mention switching to different cards, keep in mind that sign-up bonuses almost always require a minimum spend, usually a few thousand dollars within a relatively short period of time. So even if you get approved for three different cards in less than a year’s time, the total amount you’d have to spend to earn the bonuses on three different cards could be pretty significant. Unless you are confident you can pay those initial spends to reach the bonuses in full without any finance charges, it may not be such a great deal to get those sign-up bonuses in the end.

I hope this makes sense. If you don’t want to pay an annual fee, maybe consider calling Capital One and asking for a product change to the Capital One VentureOne. That’s the no-annual-fee version of the Capital One Venture card and it has most of the same benefits, just a slightly lower rewards-earning rate.

Let me know if you have further questions!



Wow that is such a helpful response! Thanks for filling me in there :slight_smile:

I thought there must be something like this in place but I wasn’t sure, so thank you for filling me in.

Would you reckon I am likely to be targeted as a “churner” if I were to cancel my card after 11 months instead?


It’s hard to say what the exact criteria is to be targeted as a churner but certainly if a pattern emerges than that’s more likely to be noticed then just canceling one particular card, one time. Your score will take a bit of a hit if you cancel though. I would also read the terms and conditions carefully for your Capital One Venture card. Some cards have been known to include language that allows them to “claw back” the bonus rewards if a card is canceled within a certain time period. The last thing issuers want is for someone to sign-up, take a big chunk in rewards and then cancel the card so most cards have detailed fine print about the rules and regulations of earning welcome bonuses. It’s different for each and every card and sometimes there are different rules at different times for the same card. In other words, the issuers don’t want to make it easy for you to take the rewards and run.


This is entirely my opinion, not to be read as an endorsement of any kind, but the Venture card has become one of my favorites. I keep a spreadsheet of my cards and the value of the rewards I redeem (because Nerd). It’s a record of overall “return on investment”–what I’m getting back for my annual fee. If a card doesn’t earn me at least twice the annual fee in rewards or other perks, I’ll cancel it (because I have a ton of accounts, a loooooong credit history and low utilization, so one closure here or there doesn’t hurt much if at all).

The Venture beats that measure and then some. It typically trails only my SPG card…we’ll see if the Bonvoy (the SPG replacement) offers such consistently great returns. Erasing travel purchases is easy and weirdly fun, so maybe give it a trial run and see what you think, @aarontaylorweiss.


I guess I’ll just have to enjoy my bonus and keep using the card. Poor me :slight_smile:


Thank you Leslie! What a killer reply with tons of context. So helpful for my decision making, :smiley:


Thanks for this, very helpful post and replies!


Agree with what’s been said about churning, and the option to downgrade certain cards rather than cancelling outright. Both opening and closing cards can negatively impact your ability to get premium cards later.

One last thing to add regarding claw-back: if the company does wipe your points upon closure, you can always transfer them to a loyalty program, or spend them more directly on cashback, flights, hotels, or merchandise. Once you’ve confirmed the points are successfully transferred and/or spent, close or downgrade the card.