topic Re: CapitalOne Venture or Quicksilver in Credit Cards

CapitalOne Venture or Quicksilver

mrcrisp023 — Tue, 05 Apr 2016 16:54:53 GMT

I already have the capital one secured card, which i got last May so it's been open and in great standing with under 10% until. I'm hearing that venture offers the CL, which is what I want more than anything. Not concerned about rewards. This will be my second capital one card. Should I go for the quicksilver or venture? Also, I'm not sure if I should do the regular cards or the "one" cards?

Thanks.

Re: CapitalOne Venture or Quicksilver

Anonymous — Tue, 05 Apr 2016 16:57:01 GMT

if rewards aren't your concern and only higher limits then the venture will offer a higher SL although i advise against apping for cards just for a high CL honestly. and the venture one offers lower SLs than the venture

Re: CapitalOne Venture or Quicksilver

Anonymous — Tue, 05 Apr 2016 16:57:29 GMT

and check the prequal btw because it's a little strange going from secured to a VS..

Re: CapitalOne Venture or Quicksilver

Anonymous — Tue, 05 Apr 2016 17:01:52 GMT

I read somewhere on the forums that banks don't like to give their higher-tier cards to people who already have a secured card from them, so that may be a concern.

Aside from that, Venture & Quicksilver have different reward types. If you fly a lot, then Venture would be useful. If not, Quicksilver's rewards are cashback, so they're more versatile. Also, keep in mind Venture and Quicksilver One have annual fees, while Venture One and Quicksilver are free to own.

Re: CapitalOne Venture or Quicksilver

mrcrisp023 — Tue, 05 Apr 2016 17:03:28 GMT

I checked the or equal but none matched up for me. They gave suggestions. I don't want to take a hit on the venture and not get it, even though my scores and income appear to be good enough to get it. I just want to make sure I get approved for a card that gives me a decent CL. My combined CC limits are only 800 right now so even if I get approved for 3000 on one card I'll be very happy.

Re: CapitalOne Venture or Quicksilver

Anonymous — Tue, 05 Apr 2016 17:08:04 GMT

you always want the regular cards over the One versions... they are largely the same card, (minor differences) but the regular ones don't have the annual fee that One versions do... in terms of which one to get, it's up to you. As someone mentioned, QS offers cash back, which is more versatile than miles cards, unless you really want a miles card for travel... I like the versatility of cash back more personally...

Re: CapitalOne Venture or Quicksilver

Anonymous — Tue, 05 Apr 2016 17:10:26 GMT

How long is your credit history with your secured cards? If you've had them for less than 6 months, then my guess is you would need to show more history with them to get bigger credit limits. Ideally, banks would like to see responsible use of your credit for 2 years before giving you higher-limit cards, but my guess is you can get higher limit cards after a year with the secured ones.

Re: CapitalOne Venture or Quicksilver

mrcrisp023 — Tue, 05 Apr 2016 17:20:58 GMT

It's been 11 months for my capital one, and 9 months for my first premier. I got a CLI after 6 months on my capital one. Ideally I'd rather not have an annual fee, but it also seems that the regular ones will be harder to get since they don't have the annual fee. I just don't wanna waste a hard pull on a regular one and not get approved or get I my like $1000, when I coulda went for a "one" and got $3,000.

Re: CapitalOne Venture or Quicksilver

Anonymous — Tue, 05 Apr 2016 17:28:42 GMT

From what I've read on the forums, the higher-level cards also give higher credit limits. So more likely (using the figures you mentioned) you could get approved for a Quicksilver One with a1k limit, or wait and get a regular Quicksilver with a 3k limit.

Re: CapitalOne Venture or Quicksilver

UncleB — Tue, 05 Apr 2016 17:45:13 GMT

I'm not a Capital One underwriter (none of us are) but I suspect that the problem you would have with a Venture is that you don't have any $5k+ cards already. The Venture only comes as a signature ($5k+) as far as I know. I saw a thread just a few days ago started by someone with a profile similar to yours - like you, they had a credit score that was likely high enough (as you do) but their lack of experience with higher limit cards caused them to be declined specifically for Venture.

If you apply for the Quicksilver Visa you can be approved for a credit line below $5k, so that's likely what I would do (if you choose not to wait). It's true you'll get the largest credit line with a Venture, but your chances of approval for it might be "iffy" at best, in my opinion. (I'm not saying it's a sure decline - stranger things have happened - just that it might be a 'stretch', especially with no pre-qual offer.)

When the time is right (assuming you choose to wait) there are several things to consider. The Venture is generally more desirable than the Venture One since its sign up bonus is better and rewards scheme is more favorable (and initial credit line is higher), but if you don't care about rewards the Venture One might be preferable since it's APR is generally 1% lower than the regular Venture (at least for me), and it doesn't have an AF. Of course if you get a Venture you can always change it to a no-fee Quicksilver later (which many people do) but the APR will remain the same.

There are several ways to go about things with Capital One, depending on your priorities. For the moment if you feel the need to apply for anything, I would limit myself to the Quicksilver or Venture One, which both can be approved with starting credit lines below $5k.

Just my 2¢.

Side note: Of the Quicksilver cards, the "One" version has the AF. With Venture it's the exact opposite; the 'regular' Venture has an AF, the "One" version does not.

Re: CapitalOne Venture or Quicksilver

Anonymous — Tue, 05 Apr 2016 18:00:16 GMT

if OP doesn't care about rewards i assumed they don't care about fees lol.

Re: CapitalOne Venture or Quicksilver

mrcrisp023 — Tue, 05 Apr 2016 18:02:30 GMT

Thanks for the info. I think I will go for the regular Quicksilver, I think that will be my best bet. I've seen that some people applied for both the regular quicksilver and the Quicksilver one at the same time. I thought about that, but I don't know if that's a good idea. I'm closing on my house in a couple weeks and I want to get a few cards before my mortgage hits my credit report. I want the best cards I can get, but I also don't want to waste unnessesay hard pulls.

Re: CapitalOne Venture or Quicksilver

delaney1 — Tue, 05 Apr 2016 18:04:15 GMT

@Anonymous wrote:
you always want the regular cards over the One versions... they are largely the same card, (minor differences) but the regular ones don't have the annual fee that One versions do... in terms of which one to get, it's up to you. As someone mentioned, QS offers cash back, which is more versatile than miles cards, unless you really want a miles card for travel... I like the versatility of cash back more personally...

The Venture One does not have an AF, the Venture does.

Re: CapitalOne Venture or Quicksilver

Anonymous — Tue, 05 Apr 2016 18:07:52 GMT

if you're closing on a mortgage in a few weeks then apping for cards is the absolute last thing you wanna do. often they pull you again before closing to make sure. you need to tread lightly here...

and don't get the QS and QS1 both.. they offer the exact same thing except the QS1 has a $39 fee

don't take this wrong but you need to do about an hour of reading cap1 posts on here to better familiarize yourself. you're wanting to make decisions that will hinder more than help.

Re: CapitalOne Venture or Quicksilver

UncleB — Tue, 05 Apr 2016 18:10:21 GMT

@mrcrisp023 wrote:
Thanks for the info. I think I will go for the regular Quicksilver, I think that will be my best bet. I've seen that some people applied for both the regular quicksilver and the Quicksilver one at the same time. I thought about that, but I don't know if that's a good idea. I'm closing on my house in a couple weeks and I want to get a few cards before my mortgage hits my credit report. I want the best cards I can get, but I also don't want to waste unnessesay hard pulls.

This is beyond the scope of this thread, but beware applying for anything before your mortgage closes.

I've been through the mortgage process four times (two purchases and two refi's) and it's not uncommon for them to pull your credit again right before the closing. My first mortgage actually fell though because of that (I had to be changed over to a different loan type, with a higher APR, i.e. higher house payment).

Re: CapitalOne Venture or Quicksilver

mrcrisp023 — Tue, 05 Apr 2016 18:29:15 GMT

I'm not touching anything on my credit before closing, I'm just getting my ducks in a row so that after closing, I know what direction I am going to go in. I'm too scared to even do a prequalification lol.