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Capital One Upgrade Success!

Frequent Contributor

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 05/12/15 EQ - 675 FICO ; EX - 702 FICO ; TU - 695 FICO

NFCU Flagship $10k || NFCU LOC $15k || NFCU cashRewards $10k || Chase Hyatt $5k || Chase Southwest Plus $4.5k || Chase Southwest Premier $4.5k || Barclay Rewards $2.5k || Barclay AA Red $3.5k || AMEX ED $1k || CapOne QuickSilver $2k || Sony Card $2k || Discover $2k || Macy's $12k (combined) || Best Buy $8k || Walmart $10k || CareCredit $7.5k || Banana Republic $10k || Amazon $7.5k || TJMaxx $3.5k || Car CareOne $6k || Lowes $10k || TOTAL CL: $104k
Message 1 of 11
10 REPLIES
Valued Contributor

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 Smiley Happy

"Garden Club Member " Old user name newportguy*** Current Score: myFico EQ - 830 (07/16/2015) Discover TU Fico - 833 (09/03/2016) EX Fico - 839 ( 09/01/2016 ) ******* Amex - BCP 11.5K * Discover - IT 43.5 K * U.S. Bank Cash + Visa Signature 15.3 K * PenFed - Cash Rewards 15K *PenFed Power Cash 19K ** Amex - GDSM 10K ******FICO 800 Club Member ******* EQ 830 *** TU 833 *** EX 839 ***
****** Last HP & New TL was March 6th 2014 *** GOAL: No HP's or New TL's for 2 + years and 840's Scores ******
Message 2 of 11
Senior Contributor

Re: Capital One Upgrade Success!

congrats


Message 3 of 11
Regular Contributor

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. 

Message 4 of 11
Valued Contributor

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.

It is by will alone I set my mind in motion.....
Always follow these rules: Only take a HP for a new account. Always use the best rewards card for that reward category. Don't close a card unless you know you really should. Never use more than 35% of a credit limit. Recon as much and as best you can. Use the introductory period to the best advantage. Get the signup bonus. Whenever possible PIF or balance transfer so you pay less in interest. Never give an excellent rating when it is actually the norm. Always look for a discount as more is always better.
Always accept candy from strangers because they have the best candy or from people you know have good candy.
Message 5 of 11
Contributor

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.



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Message 6 of 11
Moderator

Re: Capital One Upgrade Success!

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

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne
Message 7 of 11
Frequent Contributor

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 05/12/15 EQ - 675 FICO ; EX - 702 FICO ; TU - 695 FICO

NFCU Flagship $10k || NFCU LOC $15k || NFCU cashRewards $10k || Chase Hyatt $5k || Chase Southwest Plus $4.5k || Chase Southwest Premier $4.5k || Barclay Rewards $2.5k || Barclay AA Red $3.5k || AMEX ED $1k || CapOne QuickSilver $2k || Sony Card $2k || Discover $2k || Macy's $12k (combined) || Best Buy $8k || Walmart $10k || CareCredit $7.5k || Banana Republic $10k || Amazon $7.5k || TJMaxx $3.5k || Car CareOne $6k || Lowes $10k || TOTAL CL: $104k
Message 8 of 11
Frequent Contributor

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 05/12/15 EQ - 675 FICO ; EX - 702 FICO ; TU - 695 FICO

NFCU Flagship $10k || NFCU LOC $15k || NFCU cashRewards $10k || Chase Hyatt $5k || Chase Southwest Plus $4.5k || Chase Southwest Premier $4.5k || Barclay Rewards $2.5k || Barclay AA Red $3.5k || AMEX ED $1k || CapOne QuickSilver $2k || Sony Card $2k || Discover $2k || Macy's $12k (combined) || Best Buy $8k || Walmart $10k || CareCredit $7.5k || Banana Republic $10k || Amazon $7.5k || TJMaxx $3.5k || Car CareOne $6k || Lowes $10k || TOTAL CL: $104k
Message 9 of 11
Valued Contributor

Re: Capital One Upgrade Success!

Congrats! Smiley Happy

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Message 10 of 11