Turned down for Capital 1 QS1 to QS upgrade

[UncleB]

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@smoop88 wrote:

I was able to convert my QS1 to a ventureone I chose the venture one to have flier miles. I chatted on cap 1 3 weeks ago and was offered the qs or venture one. my qs1 before this one was about 5 years old capital one brought out hsbc/orchard bank I had alot of lates on the account, so I closed the account down in 08/2015 because I was stuck at $300 for the longest, so I decided to apply again for the qs1 after the system showed my old qs1 closed. was approved for 1k 2 months later 3500 then last month conversion, I have a platinum thats fairly new so i'll convert that one maybe when i'm eligible for a increase 61 days or so.

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I was offered the choice of QS or Venture One but I went with the QS.  The Venture One "miles" are really just 1.25% cash back that you are required to redeem against travel expenses (or for gift cards) to get the full value; with the QS you get full 1.5% cash as a statement credit or even a paper check - no travel purchases required.

You're not the first person Capital One's marketing has snagged with their deceptive "miles" lingo.  You should be able to PC your Venture One again after six months pass if you're interested, although you might want to wait until your credit line is $5k or higher, that way when you PC the new card will likely come as a World MasterCard (if that's important to you). 

[smoop88]

Thanks but my logic behind it was for travel I plan on going back home once a year from school so that's why I chose it despite QS being my dream card

[UncleB]

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@smoop88 wrote:

Thanks but my logic behind it was for travel I plan on going back home once a year from school so that's why I chose it despite QS being my dream card

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I understand, but you can get the 1.5% QS rewards credited toward your trip as well... the only difference is you aren't forced to - and the rate is slightly higher.

That being said, the Venture One's restrictions might prevent you from cashing the rewards in a moment of weakness, so that could make it worth the 0.25% reduction for some folks.

[smoop88]

Gotcha! Does a credit steps increase count then you wait 6 months or do you count 6 months from the time you requested an increase

[Anonymous]

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@smoop88 wrote:

Gotcha! Does a credit steps increase count then you wait 6 months or do you count 6 months from the time you requested an increase

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You can get ONE early CLI before the card is six months old, then the credit steps increase will happen automatically at the 6 month mark (from the day the account was opened, not 6th statement), and thereafter its every 6 months as long as the account is in good standing and never late. A late payment - even one day - will set you back 9 months as far as CLI's.

[UncleB]

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@smoop88 wrote:

Gotcha! Does a credit steps increase count then you wait 6 months or do you count 6 months from the time you requested an increase

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IIRC, the credit steps increase is independent of other CLI request, but don't quote me on that (my older card started as HSBC, so I didn't get credit steps). 

There's more info on credit steps specifically over on the 'Credit Cards' sub-forum... out of respect for the OP I don't want to take this thread any further away from the "QS1 to QS upgrade" topic than we already have.

[smoop88]

Ok thanks a lot nice chatting with you

[Anonymous]

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@kennerchick wrote:

I chated with Michael on Wednesday to see if I had an upgrade and after he verified everything, he told me unfortunately he couldn't upgrade me.  I've had my card for 9 months, why can't I upgrade??

Can anyone tell me what I need to do to make an upgrade happen??

Thanks

I did some more research and when my Plat was upgraded to QS, my EQ was pulled for account review, and I had a score of 647 at that time. Just a FYI.

[Anonymous]

Do they normally charge the AF on the first statement? Some of what I read hear suggests that the AF is charged later.

If you call them later to either PC the card, combine the card or waive the AF, are you asking about the current year's AF the next (assuming you are charged the AF on the 1st statement). 

[kennerchick]

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@Anonymous wrote:

Do they normally charge the AF on the first statement? Some of what I read hear suggests that the AF is charged later.

If you call them later to either PC the card, combine the card or waive the AF, are you asking about the current year's AF the next (assuming you are charged the AF on the 1st statement). 

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Fee is on the first statement.