topic Re: Can't Upgrade CapOne in Credit Cards

Can't Upgrade CapOne

Anonymous — Wed, 20 Jul 2016 16:34:01 GMT

Okay, so I know this is probably wrong since it came from a CSR, but I figured I'd share it with the community and see what you guys have to say. I got a CLI on my VentureOne from $3k to $6k today, so I figured I'd hit up chat and see if I could upgrade my card to a Siggy. I know that the easiest way to do this is to upgrade to a QS or Venture, so I inquired about that. I ended up taking the QS upgrade since it suits my spend more, but I found it interesting that the CSR said in passing "...the account status will stay the same." So I inquired a little more about it, and ended up getting this:

Does this mean that there wasn't an offer to upgrade to a Siggy on my account, or that they won't do an upgrade in general?

Re: Can't Upgrade CapOne

ddemari — Wed, 20 Jul 2016 17:18:35 GMT

Congrats on getting the CLI and upgrade. The reps. dont know much about signature/world cards and they usually will be quick to just shut down tlak of that.

But since you upgraded after you got the higher limit, there is a very good chance the card will come as a signature visa. again, its a ymmv type of thing, but im thinking it might pan out for the better in your situation. keep us updated!

Re: Can't Upgrade CapOne

Anonymous — Wed, 20 Jul 2016 17:20:53 GMT

The CSR's don't have the ability to offer the Signature or WMC upgrade unless there is an offer on the account. HOWEVER, many people are successful in requesting a PC and if the limit is over $5k, it gets issues as a Signature card, there's something that gets triggered in their back end system. The account itself does remain the same (account number, terms, etc) so that is most likely what she was referring to even if the new card is issued as a Signature.

To be honest, I would have waited a week or so after that CLI before requesting a PC if your goal was to get the signature. I'm not sure how quickly their backend systems update to reflect the credit limit and how that feeds into the process to issue cards (I'm an IT person and just because it's instant on the screen doesn't mean that there are not back end processes to update feeder or other systems).

Re: Can't Upgrade CapOne

Anonymous — Wed, 20 Jul 2016 18:03:48 GMT

I'll definitely let you guys know how it goes. My new card should get here in like a week, so I'll update you when it comes. I probably should have waited a few days, but I read something from a few months ago that said a PC and a CLI should be done around the same time since you need to wait 6 months until your next CLI... It didn't really make sense, but I rolled with it. It's no big deal if it doesn't come as a Siggy, since I see it more as a fruit of my growth/journey than I do a valuable asset for me to utilize. Thanks y'all!

Re: Can't Upgrade CapOne

SunriseEarth — Wed, 20 Jul 2016 19:24:24 GMT

When I PCed my QS to VentureOne once my CL went over $5K, I was automatically issued the WMC. This likely will happen for you, so I wouldn't rule anything out until you see the card yourself.

Re: Can't Upgrade CapOne

Anonymous — Mon, 01 Aug 2016 17:22:03 GMT

Hey guys! I finally got the card in the mail today, and it was issued as a platinum Visa. Not a big deal, but I figured I should update the thread just in case anybody was curious how it turned out.

Re: Can't Upgrade CapOne

nrm — Mon, 01 Aug 2016 18:09:23 GMT

Congrats! Now use it like no tomorrow! I'm just kidding. Use it for a while so you can upgrade to the Signature version if you wish.

Re: Can't Upgrade CapOne

Anonymous — Wed, 03 Aug 2016 19:24:54 GMT

I've been dealing with similar with my QS One. I've had this account ($2K CL currently, never missed payment) for 9 years and I don't want to close it since it would negatively effect my score. CapOne has repeatedly refused to PC or give me a CLI on this account. I talk to a CSR every few months just to check and it's the same everytime: "We don't have any offers on your account." I would happily change it to a VentureOne if they would let me. Want to know the stupid part? They easily approved me for a $10K QS VS but won't adjust my QS One. On the fortunate side all I have to do is call them to have them refund/waive my annual fee.

Good luck OP.

Re: Can't Upgrade CapOne

Anonymous — Wed, 03 Aug 2016 19:31:01 GMT

@Anonymous wrote:
I've been dealing with similar with my QS One. I've had this account ($2K CL currently, never missed payment) for 9 years and I don't want to close it since it would negatively effect my score. CapOne has repeatedly refused to PC or give me a CLI on this account. I talk to a CSR every few months just to check and it's the same everytime: "We don't have any offers on your account." I would happily change it to a VentureOne if they would let me. Want to know the stupid part? They easily approved me for a $10K QS VS but won't adjust my QS One. On the fortunate side all I have to do is call them to have them refund/waive my annual fee.

Good luck OP.

Rylo, why don't you just move the limit from your QS1 over to your QS VS, close your QS1 and think of it as a product change?

Re: Can't Upgrade CapOne

Anonymous — Wed, 03 Aug 2016 22:07:43 GMT

Daisy, I'm concerned that closing the QS1 would effect my AAoA. The QS VS is under a year old. Moving a limit and closing the account would still hurt me, wouldn't it?

Re: Can't Upgrade CapOne

Anonymous — Wed, 03 Aug 2016 22:14:05 GMT

@Anonymous wrote:
Daisy, I'm concerned that closing the QS1 would effect my AAoA. The QS VS is under a year old. Moving a limit and closing the account would still hurt me, wouldn't it?

In ten years it will hurt you, but by then your QS VS will be 10 years old. If you close the QS1, it will still remain on your reports and factor into your AAoA for 10 years.

Re: Can't Upgrade CapOne

Anonymous — Wed, 03 Aug 2016 23:23:58 GMT

Interesting. Thank you for your input. I've used Credit Karma mostly to track my credit changes and it seems their AAoA is only calculated using open accounts. It has lead me to the assumption that I need to keep the account open.

Ref: https://www.creditkarma.com/article/age-of-credit-history

Also a correction. This account is my oldest open credit account at 12 yrs 7 mo. An article I just read stated:

"Don't...

Close the oldest account on your credit reports. This could cause your credit history to appear shorter, which may harm your credit score."

Ref: https://www.creditkarma.com/article/ClosingOldAccount

This and CSR are my only AF cards and it's easy enough to get the fee waived on the QS1. At this point I'm still wary of closing this account.

Re: Can't Upgrade CapOne

tussking — Thu, 04 Aug 2016 00:56:54 GMT

Great question ! To which I have first hand knowledge ! I have a QS Visa that now has a 29k limit on it (combined my Venture). I spent almost 70 mins on the phone with a CS rep then a supervisor who called 3 different departments ! No go ! She offered to do a PC to a Venture 1 and stated it would be a Vs. Ha ! No thanks ! I'll stick with the platinum and be just fine !

Re: Can't Upgrade CapOne

Anonymous — Thu, 04 Aug 2016 14:58:13 GMT

I'm surprised nobody else is chiming in here, but if you do a search of the forums, you'll see that closing a card will not affect your AAoA for 10 years. I wish it would! I overdid an app spree and would love to close some new cards and have them no longer factored!

CK is just not reliable for that kind of information. It's great for monitoring for fraud, though.

Re: Can't Upgrade CapOne

Anonymous — Thu, 04 Aug 2016 20:45:56 GMT

I did find some good threads regarding closing oldest accounts on the forums and they all agree with you. Looks like I'll have to make some time for some calls tomorrow. Thanks! I feel the same way about my recent app spree too, that and being stuck in the garden unable to obtain the one card I really want at the moment (Freeeeeeeeddoommm). :-)