A few things - your CL has to be at least $5k with Capital One to have a Visa Signature. AFAIK, they're pretty rigid about this. The second thing is, just because your CL is increased over 5k does not mean you're automatically converted to a Signature product. This happened to me - I was increased to 6k, but nothing happened otherwise. I had to call the EO and honestly, play phone tag for two weeks to get my Signature. I hesitate to say it was worth the hassle, but if you really want the benefits, that's the path you need to take. You won't be automatically switched to Signature just because of a limit increase.
Also, yes, I'm going to echo the above users - why would you PC to a less useful product? The QS earns 1.5% cash redeemable for anything (even travel). The Venture One earns 1.25% ONLY redeemable against travel (if you do redeem on other things you get nerfed bigtime on the points). With that being the case, why would you want a Venture One instead? There is no advantage, and I feel the "travel" marketing of these cards misleads people into thinking there is something better about them for travel when there is not. It's all marketing.
All Cap One cards have no FTF so that part doesn't matter.
Do your homework before requesting a PC next time. I hate to be harsh, but had you looked into it and read about each card, you would (should) have realized that there's no advantage to the Venture One. This is happening a lot on here lately, seemingly with the Venture One and Venture cards (and Arrival, Arrival+, etc). People seem to think there is some magical travel benefit to them. It is purely marketing. Do your research. If you are wanting Venture/Venture One/Arrival+/Arrival, you are 95% of the time going to be better off with a cash back card like QS or Double Cash. The only exception is if you spend a ton on an Arrival+, to offset the AF and to make up the 0.2% extra you're getting (2.2%).
In short, cash back cards are usually better than these "fixed" so called "travel" cards.
