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PC Cap One V1 to Venture?

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LCC_mk14
Regular Contributor

PC Cap One V1 to Venture?

Hi guys - quick question on cap one's product changes.

 

I recently had offers to PC my platinum card (7k limit) to QS1 or Venture One. I chose Venture One because I have a few cash back cards already but no travel cards. 

 

I've scoured these forums looking for an answer, but has anyone ever had a V1 PC'ed to a regular Venture?

I would just app for a regular venture in a few months and combine the limits, but I don't wanna close one of my oldest accounts. 

 

Cap One Customer Service was no help. 

 

Thanks in advance for the feedback!




Message 1 of 10
9 REPLIES 9
mkhan1093
Established Contributor

Re: PC Cap One V1 to Venture?

I haven't personally done this but I don't see why not. I know of people who got the Venture for the signup bonus and then in the second year PC'ed to VentureOne. I don't see why the reverse isn't possible.

Message 2 of 10
Anonymous
Not applicable

Re: PC Cap One V1 to Venture?

The VentureOne is really a useless card for you because while they call it a travel card it's really a cashback card earning only 1.25% versus QS/QS1 which earns 1.5%.  So you definitely want to nuke it eventually.

 

What is your oldest card age?  What is the VentureOne card age?  I'd say just app for a Venture and combine the V1 into the Venture limit and close it -- if VentureOne isn't your oldest account, closing it doesn't matter at all.  Even if it was your oldest card, closing it means it will still report for up to 10 years towards your AoOA.

Message 3 of 10
pizza1
Community Leader
Super Contributor

Re: PC Cap One V1 to Venture?

If your CL on your V1 is $5k and over, you can PC. The minimum CL for a Venture is $5k.
Message 4 of 10
LCC_mk14
Regular Contributor

Re: PC Cap One V1 to Venture?

 

 

I have a high enough CL with 7k limit to switch to the Venture by what you're saying. I figured as much, but all the rep could tell me was "I had no offer." I asked her what would be required to get an offer and she couldn't answer that. I'm tempted to try again with another rep. 

 

Thank you!




Message 5 of 10
LCC_mk14
Regular Contributor

Re: PC Cap One V1 to Venture?

My Discover and the (now) VentureOne are both 4 years old. You wouldn't know the Discover was that old by the limit (500... that's a whole other story). Those are my personal oldest cards, but I am an AU on a 6 yr card. 

 

I see what you're saying about AAoA and it staying on there fter being closed, especially since the Discover is the same age. I guess my gut reaction was to say NO IT WAS MY FIRST, haha. 

 

It really is a useless card, but I figured it'd be better than what it was. I also see what you're saying about the reward percentages. I still have an offer to PC it to QS so I may do that if I don't see much from it. And I feel as though the Venture is not much better and there are better Travel Cards out there, which is why I am leery to app for it later down the road when I'd rather App with Chase or Amex. 

 

Side note: Scores are currently low due a 30 missed payment 1.5 years ago (There was an autopay mistake nightmare) and temp. high utilization. Should be in 720s within a few months. 

 

 




Message 6 of 10
Anonymous
Not applicable

Re: PC Cap One V1 to Venture?


@LCC_mk14 wrote:

Hi guys - quick question on cap one's product changes.

 

I recently had offers to PC my platinum card (7k limit) to QS1 or Venture One. I chose Venture One because I have a few cash back cards already but no travel cards. 

 

I've scoured these forums looking for an answer, but has anyone ever had a V1 PC'ed to a regular Venture?

I would just app for a regular venture in a few months and combine the limits, but I don't wanna close one of my oldest accounts. 

 

Cap One Customer Service was no help. 

 

Thanks in advance for the feedback!


You can request an upgrade from V1 to Venture.  Instead, i would just apply for the Venture, get the bonus then merge into  your V1 since it is your old car.

Message 7 of 10
UncleB
Credit Mentor

Re: PC Cap One V1 to Venture?


@LCC_mk14 wrote:

Hi guys - quick question on cap one's product changes.

 

I recently had offers to PC my platinum card (7k limit) to QS1 or Venture One. I chose Venture One because I have a few cash back cards already but no travel cards. 

 

I've scoured these forums looking for an answer, but has anyone ever had a V1 PC'ed to a regular Venture?

I would just app for a regular venture in a few months and combine the limits, but I don't wanna close one of my oldest accounts. 

 

Cap One Customer Service was no help. 

 

Thanks in advance for the feedback!


When was your last PC?  If it was less than six months ago that would explain why you don't have a current offer.

 

Also keep in mind that Capital One doesn't really have any "travel" cards - that's just marketing.  The Venture and Venture One cards are just cash back with restrictions on redemptions. 

 

If/when you have an offer for a PC to Venture, be sure your spend on the card will be enough to make it more valuable than a Quicksilver.  The cut-off is roughly $12k per year... if you plan to spend less Venture doesn't really make sense after you figure in the annual fee.

Message 8 of 10
LCC_mk14
Regular Contributor

Re: PC Cap One V1 to Venture?

I just PC'ed a few days ago. When I did though, I called Cap One to see if I could PC it to Venture instead of the VentureOne. From what you guys a saying and what I've found on other forums/CapOne's site, I figure I'm better off just leaving it be unless they offer the PC. Save my app and new accounts and try for a Amex revolver and charge in the same pull when I'm ready to app again. 

 

It's just frustrating because my cards stopped growing in tier and CLs well before I feel they should have. Such is the credit game. 




Message 9 of 10
Anonymous
Not applicable

Re: PC Cap One V1 to Venture?

Venture is Capital One's Premium card. Simular to the PRG AMEX or the Chase Sapphire Preferred.

It is highly unlikely that you will be able to PC from basic to premium with your current scores. 

Capital One is one of the only banks that target Subprime, Prime and Excellent credit customers.

Meaning when they want you to have that card they will let you know.  

 

When you get your scores higher call back and ask if they have any offers and try to PC, however it may be better to just PC it to a QS1 with 1.5% back for now and app the Venture down the road. 

 

Also, remember Capital One pulls all 3 bureaus for new apps.

 

Hope this helps!

Message 10 of 10
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