topic Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa in Credit Cards

Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

sjt — Mon, 11 Jul 2016 01:03:41 GMT

FYI-

My friend just applied for the Quicksilver Visa and was approved for $1,000. I thought that was odd because I knew the minimum credit line was $3,000, but I found out Capital One recently reduced their minimum credit line for the Quicksilver Visa to $1,000 and $2,000 for the Venture One Visa.

Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

Anonymous — Mon, 11 Jul 2016 01:13:52 GMT

Wow.😞. Did they change for the Venture too?

Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

Anonymous — Mon, 11 Jul 2016 01:16:05 GMT

Probably not the venture due to the VS status that comes with it

Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

driftless — Mon, 11 Jul 2016 01:17:30 GMT

My guess is that want to transition Cap One sub-prince cardholders and cardholders of cards that originated with another bank into their main cards. I hope folks take advantage of the change.

Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

Anonymous — Mon, 11 Jul 2016 01:30:49 GMT

All these changes seem to be happening all at once. Comenity, Synchrony, and now Cap 1. Starting to feel like 2008 again. Wonder whose next.

Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

ddemari — Mon, 11 Jul 2016 01:32:33 GMT

Very interesting I looked over the terms of the app and it's interesting they lowered qs visa to 1000 from 3000 and venture one from 3000 to 2000. Thanks for the info op!

Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

Anonymous — Mon, 11 Jul 2016 01:56:06 GMT

good thing i got them when they were $3000

Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

sjt — Mon, 11 Jul 2016 02:20:06 GMT

@Anonymous wrote:
Wow.😞. Did they change for the Venture too?
No. The minimum is still $5,000.

Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

sjt — Mon, 11 Jul 2016 02:20:55 GMT

I think this is a good thing as more people would be able to qualify for these cards outright.

Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

Anonymous — Mon, 11 Jul 2016 02:24:23 GMT

Well back in december 2014, I got a quicksilver visa, not a qs1, and it only had a 1k starting limit. It also was enrolled in credit steps..... But it had 0% for 9 months then 24.99% now 25.24%, so I think this is one of those account tier things with capital one.

Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

sjt — Mon, 11 Jul 2016 03:05:05 GMT

@Anonymous wrote:
Well back in december 2014, I got a quicksilver visa, not a qs1, and it only had a 1k starting limit. It also was enrolled in credit steps..... But it had 0% for 9 months then 24.99% now 25.24%, so I think this is one of those account tier things with capital one.

The Quicksilver Visa has tierd APR, 13.24%, 18.24%, and 23.24%.

The good thing about the Quicksilver Visa, when your credit line gets to $5,000 or more you can request the Visa Signature and you can probably request a reduction in APR.

Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

Anonymous — Mon, 11 Jul 2016 03:47:43 GMT

APR reductions with cap1 are never permanent.

Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

Creditplz — Mon, 11 Jul 2016 04:23:32 GMT

They did this about 2 months ago, it's in a old thread they also changed the Venture One, Regular Venture is still 5K minimum.

Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

Anonymous — Mon, 11 Jul 2016 04:34:30 GMT

Thanks for the info share!

Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

JSS3 — Mon, 11 Jul 2016 12:18:30 GMT

My sister was just approved for the Quicksilver One with a 500 limit.

Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

Anonymous — Mon, 11 Jul 2016 16:00:24 GMT

When I got my preapproved Quicksilver card in March 2015 the starting limit was $300. It was raised to $800 after 5 months and $4300 after 11 months.

Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

JSS3 — Mon, 11 Jul 2016 16:03:47 GMT

@Anonymous wrote:
When I got my preapproved Quicksilver card in March 2015 the starting limit was $300. It was raised to $800 after 5 months and $4300 after 11 months.

Wow???? A Quicksilver????

Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

Anonymous — Mon, 11 Jul 2016 16:26:03 GMT

I spoke with a friend who works for CO and he said that QS's that get approved at $1-5K will be VISA and and QS1's that get approved will be MC with the ability to upgrade to WMC if CL, spending patterns and profitability justify it.

Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

Anonymous — Mon, 11 Jul 2016 17:12:24 GMT

I'm curious is there a real pattern and it is tracking from us as the QS and the QS One which are totally different beast. Like my QS started off as a Platinum. I PCd it to a few months ago like February to the QS in chat. The current APR on it is 23.15% and current limit is $1800. Under the Platinum it was under Credit Steps and started off at $300 then went to $800 about 3 months in and then Credit Steps took it to $1300 then last 6 month increase in April took it to $1800.

Even when it went to a regular QS not the QS One there was no $3k for me lol is my point (but I sure would love one being I'm past the new $1k limit implementation)

Re: Capital One new minimum credit line for Quicksilver Visa and Venture One Visa

UncleB — Mon, 11 Jul 2016 18:07:48 GMT

@sjt wrote:
The good thing about the Quicksilver Visa, when your credit line gets to $5,000 or more you can request the Visa Signature and you can probably request a reduction in APR.

This historically hasn't been most folk's experience with Capital One... usually any APR reduction is only temporary (which is still better than nothing). I've read a couple of threads about someone getting a reduction using the EO, but those cases seemed to be exceptional.

As for Signature/World upgrades, I've never seen a Signature/World upgrade without a PC or a convoluted EO experience. I'm not saying it's 'impossible', just that I've never read about it on here.

Perhaps this is changing, though?