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Regular Contributor
Posts: 111
Registered: ‎03-05-2014
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Capital One Upgrade Success!

I've been a CapOne customer since 2010 by secured card. Pretty much forgot about that card since I used it just to rebuild my credit. Then 7 months ago, I was approved for the CapOne Journey card. On the 6th month, my limit was increased to $800. Called today (back door Retention number), and asked about their other cards and the rep told me he can upgrade me instead of  applying for a new one.

 

He upgraded me to the QuickSilver, no AF. I was very happy about that. Additionally he told me that since my Journey card can no longer be eligble for any type of limit increase (I assume I hit the ceiling limit), that new QuickSilver will become eligible. He said typically, the minimum limit for Quicksilver is $3k so I can expect a significant bump in my limit once I receive the card in the mail and activate it. 

 

I'm still shocked that I was able to get the Quicksilver. It's a card for people with Excellent credit, something I most certainly do not have atm. Also, he did all this without a SP or HP!

 

Here are some tips he pointed out:

- Retention dept does not handle upgrades for Secured cards, but he said he never heard of secured cards being unable to be graduated.

- after 6 months of having a CapOne card, w/ good payment history, any card can be eligible for upgrade

- retention dept handles all upgrades. So skip the front-line reps b/c they can't do it for you.

- he mentioned that if I wanted to ditch my secured card, I could close it and apply for a lower tier (average credit) card, and do the same thing in 6 months.

 

Great advice, Andrew from Texas! (Oh, retention is based in the US!)

 

Current 10/15/14 EQ - 655 FICO ; EX - 656 FICO ; TU - 668 FICO

NFCU $8k || NFCU LOC $5k || Barclay Rewads $2.5k || CapOne QuickSilver $2k || Sony Card $1.5k || Discover $1k || Best Buy $1k || Walmart $900 || CareCredit $7.5k || (plus too many store cards to list)
Valued Contributor
Posts: 12,897
Registered: ‎08-13-2013
0

Re: Capital One Upgrade Success!


AeroKrix wrote:

I've been a CapOne customer since 2010 by secured card. Pretty much forgot about that card since I used it just to rebuild my credit. Then 7 months ago, I was approved for the CapOne Journey card. On the 6th month, my limit was increased to $800. Called today (back door Retention number), and asked about their other cards and the rep told me he can upgrade me instead of  applying for a new one.

 

He upgraded me to the QuickSilver, no AF. I was very happy about that. Additionally he told me that since my Journey card can no longer be eligble for any type of limit increase (I assume I hit the ceiling limit), that new QuickSilver will become eligible. He said typically, the minimum limit for Quicksilver is $3k so I can expect a significant bump in my limit once I receive the card in the mail and activate it. 

 

I'm still shocked that I was able to get the Quicksilver. It's a card for people with Excellent credit, something I most certainly do not have atm. Also, he did all this without a SP or HP!

 

Here are some tips he pointed out:

- Retention dept does not handle upgrades for Secured cards, but he said he never heard of secured cards being unable to be graduated.

- after 6 months of having a CapOne card, w/ good payment history, any card can be eligible for upgrade

- retention dept handles all upgrades. So skip the front-line reps b/c they can't do it for you.

- he mentioned that if I wanted to ditch my secured card, I could close it and apply for a lower tier (average credit) card, and do the same thing in 6 months.

 

Great advice, Andrew from Texas! (Oh, retention is based in the US!)

 


Congrats  on your success :smileyhappy:

Old user name newportguy*** Current Score: myFico EQ - 813 (01/14/2015) Discover TU Fico - 809 (01/04/2015) EX Fico - 805 ( 01/04/2015 ) ******* Amex - BCP 10 K * Discover - IT 10.5 K * U.S. Bank Cash + Visa Signature 8.8 K * PenFed - Cash Rewards 5 K * Amex - GDSM 5 K ******FICO 800 Club Member ******* EQ 813 *** TU 809 *** EX 805 ***
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Senior Contributor
Posts: 9,868
Registered: ‎09-24-2013
0

Re: Capital One Upgrade Success!

congrats


Regular Contributor
Posts: 154
Registered: ‎12-09-2013
0

Re: Capital One Upgrade Success!


AeroKrix wrote:

I've been a CapOne customer since 2010 by secured card. Pretty much forgot about that card since I used it just to rebuild my credit. Then 7 months ago, I was approved for the CapOne Journey card. On the 6th month, my limit was increased to $800. Called today (back door Retention number), and asked about their other cards and the rep told me he can upgrade me instead of  applying for a new one.

 

He upgraded me to the QuickSilver, no AF. I was very happy about that. Additionally he told me that since my Journey card can no longer be eligble for any type of limit increase (I assume I hit the ceiling limit), that new QuickSilver will become eligible. He said typically, the minimum limit for Quicksilver is $3k so I can expect a significant bump in my limit once I receive the card in the mail and activate it. 

 

I'm still shocked that I was able to get the Quicksilver. It's a card for people with Excellent credit, something I most certainly do not have atm. Also, he did all this without a SP or HP!

 

Here are some tips he pointed out:

- Retention dept does not handle upgrades for Secured cards, but he said he never heard of secured cards being unable to be graduated.

- after 6 months of having a CapOne card, w/ good payment history, any card can be eligible for upgrade

- retention dept handles all upgrades. So skip the front-line reps b/c they can't do it for you.

- he mentioned that if I wanted to ditch my secured card, I could close it and apply for a lower tier (average credit) card, and do the same thing in 6 months.

 

Great advice, Andrew from Texas! (Oh, retention is based in the US!)

 


Awesome! Congrats! I just got a Journey card. Hopefully i'll have the same success as you changing it to the Quicksilver with No AF. 

FICO: 615 (1/14)
Current: 634 (3/14)
GOAL: 700+

Gardening till 7/15/14
Valued Contributor
Posts: 1,105
Registered: ‎10-15-2011
0

Re: Capital One Upgrade Success!

I am not sure that you will get an increase in your CL.  Capital One is known for saying things to make you feel better.  I have an account with them in 6 months, it's current limit is $1500 and is the lowest limit I have for a major card.  The account is 2.5 years old.  It started out at $300 and then got bumped to $500.  It was an HSBC card without an AF and after the buyout Capital One restricted it from getting CLIs for a long time and then only with a HP.  It then took the EO to raise the limit about 6 months ago.  Now if I go online and request a CLI it tells me that no increases are allowed while they evaluate my account at its' current limit.  I have two other accounts with them, one which is a signature card at $5000 and the other an old credit steps converted to the Quicksilver with a limit of $5,500.  It took the EO twice to get it raised and then one online request after I had paid the account in full.  You would think that since the limit on that card is high enough for a World card and the fact that I have a Signature card with them they would convert it, but as of yet they haven't and don't seem inclined to do so.  I actually don't need the benefits of the World card, except the lost luggage protection. 

 

Remember, they seem to be good at telling you one thing and then later reminding that there is and was no guarantee.  They will also tell you that if you maintain the account it COULD become eligible for a CLI later as the accounts are randomly reviewed all the time.  (Not your account, all accounts, randomly reviewed at random times.)  They will also tell you that you can apply at any time for a new account.  Unless your scores are high at the time of review, then they might still offer you an AF card.  Always use the prequalify link before you apply to see what they match you with.  Capital One's policies drove me getting cards with other banks two years ago I would have been happy with simply a $5,000 limit with them.  My oldest account with them should be 4 years old, but it doesn't exist any more since I closed it at the two year mark when they would not waive or cancel the AF.  They kept telling me if I used the card, blah, blah, blah.  After two years I got nothing except the credit step.  While now they are starting to be better it is still hit or miss with what they tell you and what they do. 

 

I do wish you the best of luck in this though, I also hope all works out in your benefit in the future with them.



Rethink every purchase you make, before you make it. Use the card with the best rewards. Pay in full each month. Redeem rewards often. Use the cards online shopping for more discounts. Smile, knowing that being thrifty allows you to actually get more out of the same amount of money!
New Contributor
Posts: 74
Registered: ‎02-22-2014
0

Re: Capital One Upgrade Success!

Thanks for all of this helpful information - it's made me confirm alot of things that were on the edge before.

 

So obviously secured cards stay secured for life - you'd have to reapply again and close the secured card if you wanted to swap.. got it.



Last App: 8/26/2014 - College Senior

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Community Leader
Valued Contributor
Posts: 11,352
Registered: ‎12-13-2013
0

Re: Capital One Upgrade Success!

Congrats on your successful PC and I would be interested to know if they actually give you a CLI..

EX Cred Ses 01/15: 765 ; EX Fico 04 V2 06/14: 775; EX Fico 08 BC 01/15: 839
EQ Beacon 5.0 12/14 757
TU Fico 8 01/15: 805
Regular Contributor
Posts: 111
Registered: ‎03-05-2014
0

Re: Capital One Upgrade Success!


gdale6 wrote:

Congrats on your successful PC and I would be interested to know if they actually give you a CLI..


I will keep you posted.

Current 10/15/14 EQ - 655 FICO ; EX - 656 FICO ; TU - 668 FICO

NFCU $8k || NFCU LOC $5k || Barclay Rewads $2.5k || CapOne QuickSilver $2k || Sony Card $1.5k || Discover $1k || Best Buy $1k || Walmart $900 || CareCredit $7.5k || (plus too many store cards to list)
Regular Contributor
Posts: 111
Registered: ‎03-05-2014
0

Re: Capital One Upgrade Success!


kchengg1 wrote:

Thanks for all of this helpful information - it's made me confirm alot of things that were on the edge before.

 

So obviously secured cards stay secured for life - you'd have to reapply again and close the secured card if you wanted to swap.. got it.


What is was informed (as I'm sure it's been covered in multiple forums before) that you would have to close the secured account FIRST, then reapply once the status of the secured card is officially closed. Sometimes closing a credit card can take a few days or hours...not sure. If there is a balance, you can request that a portion of your secured deposit be applied to any and all applicable balances and fees/interest At the time of closing.

Current 10/15/14 EQ - 655 FICO ; EX - 656 FICO ; TU - 668 FICO

NFCU $8k || NFCU LOC $5k || Barclay Rewads $2.5k || CapOne QuickSilver $2k || Sony Card $1.5k || Discover $1k || Best Buy $1k || Walmart $900 || CareCredit $7.5k || (plus too many store cards to list)
Valued Contributor
Posts: 2,369
Registered: ‎12-09-2013
0

Re: Capital One Upgrade Success!

Congrats! :smileyhappy:


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