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These situations aren’t related unless you’re worried about a credit hit.
Do NOT close the Venture X, Capital One will blacklist you.
For Chase, yes, your points are less valuable and you lost the ability to transfer to travel partners.
I would apply to the CSP instead of the CSR.
More points for the SUB and if you’re not a travel portal booker, then there is no point in having a CSR because you don’t need the 50% more points in the portal.