Upgrade Capital One Quicksilver One to Quicksilver

[Anonymous]

Capital One is primarily a sub prime lender.  Once you've graduated, they know you probably won't be using their cards much, hence they want to capture the AF if they can.  Basically, its just an intelligent business decision for a company that focuses on the sub prime niche.

[Total80sKid]

I spew a lot of verbal negativity towards Cap1, but I am still thankful that they gave me my first unsecured card.

For that I am grateful

[UncleB]

---

@Total80sKid wrote:
I spew a lot of verbal negativity towards Cap1, but I am still thankful that they gave me my first unsecured card.

For that I am grateful

---

Same here. 

They do have products that are marketed toward the sub-prime market, but I don't think of them as a sub-prime lender, generally speaking.   The Venture and Quicksilver are solid products, and while you can do better these days (if you know where to go) they are still competitive with many offerings the general public are familiar with.

It would be nice if they had more flexibility, but their strength for me (and many others here) was in providing not-terrible credit terms when others wouldn't give me time of day.  That I'm still able to make use of their products in this stage of my financial life is just a 'bonus', and if/when that changes there will be no hard feelings on my part.

TL;DR... they were good to me and still have a place in my wallet for the moment, but if that changes I'll cut them loose.

[Anonymous]

Don't get me wrong, they have offerings that can compete, I use the Spark for my business.

However, their primary revenue stream is sub prime (not just CC), and thats where they invest the most resources and it's why they've acquired other companies that had the same specialty.  That's definitely their niche and where they get the most profits.

[Anonymous]

---

@Anonymous wrote:
So that $400 plus 2% bonus was subprime.... I'll have to remember that

---

Actually it's $500 bonus, and yeah I use that card as I mentioned.  But after just receiving my Alliant 3%, thats going to replace it going forward.

[Anonymous]

Not sure what point you were making that I didn't already make.  Capital One's core busines is subprime, thats a fact.

---

@Anonymous wrote:
Point proven

---

[emily15]

I had the "upgrade card" button on my account a couple of weeks ago and when I clicked it it told me my card was not eligible.

I went on to chat with a CSR a week or two later (just the other day) to ask if there is any way to upgrade to a card with no AF, CSR said no.

Seeing as how cap 1 will be my only AF card, I am considering keeping it for maybe another year (one of the oldest accounts) and letting my newer cards with no AF age and have their CLI's. $39 isn't too bad, but hopefully I will have the chance to upgrade before March when my AF hits.

[emily15]

I should also note that the "upgrade card" link has since disappeared

[Anonymous]

My first card, when I did not even have fico scores, was Amex.   The second, no fico yet, was Cap1.    The third one, also no fico yet, was Penfed.

I just wonder when someone call major banks a sub prime, if they even know the definition.......  Obviously I had very poor credit history... And Amex APR was higher than Cap1.  That makes Amex a sub prime??   When you say something in public, at leat know the meaning.

Regarding QS1 to QS:

Last July I got QS1 @ 1,000... Six months later 3,000 and another six months later 7,000 and pc to QS.   Cap1 also gave me  15,000 Venture exactly a year later.

I dont know what their internal scoring system is like.... but my spending was not high and I have not paid a penny interest yet.      I tried to PC to QS once when they increased CL last Jan thru chat.  No offer, I was told.

Then when Cap1 increased QS1 to 7,000, they offered me either QS or Venture1.