topic Re: How long till I can upgrade capital one card in Credit Cards

How long till I can upgrade capital one card

Anonymous — Wed, 10 May 2017 23:37:49 GMT

Hello everyone I was approved for a capital one platinum card about 4 months ago and have since got a $100 CLI how long do I need to wait before I can possibly upgrade to the quicksilver? I had a ch. 7 discharged in January. Thanks for any help

Re: How long till I can upgrade capital one card

Anonymous — Wed, 10 May 2017 23:42:29 GMT

Hey! How's it going?

I believe you want to wait at least 6 months. If you want, you can go to the capital one upgrade link and try the link and see what it says. I'm sure others will chime in and give input!

Here's the link. Just sign in. If you have an upgrade, it'll pop straight up!

http://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-check-for-upgrade-link/td-p/4934733

Re: How long till I can upgrade capital one card

rmduhon — Thu, 11 May 2017 02:13:31 GMT

You can PC within a month if the offer is there. Just call or chat and ask.

Re: How long till I can upgrade capital one card

Anonymous — Thu, 11 May 2017 02:15:29 GMT

rmduhon has it; I PCd my first Cap1 after just one statement, somewhere around 40 days. Just hop on chat and ask if they have an offer. Once you do PC, you do have to wait 6 months for another PC, similar to their CLI policy

Re: How long till I can upgrade capital one card

Anonymous — Thu, 11 May 2017 04:05:39 GMT

OP keep in mind even if you are able to upgrade your platinum to a QS that while you'll be able to get the CB and benefits of the QS your account is still going to be viewed by Cap One as a starter account so you will never be able to grow the card the way you would if you were to open a QS from the start under more favorable terms. I did the same PC that you are considering, but it really puts a different paint job on the same account. As a result, my QS has been hanging out in the SD.

Re: How long till I can upgrade capital one card

DeeBee78 — Thu, 11 May 2017 05:56:31 GMT

CincyMazdaMan wrote:

Hey! How's it going?

I believe you want to wait at least 6 months. If you want, you can go to the capital one upgrade link and try the link and see what it says. I'm sure others will chime in and give input!

Here's the link. Just sign in. If you have an upgrade, it'll pop straight up!

http://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-check-for-upgrade-link/td-p/4934733

Very useful link in that thread, thanks for posting it.

I just checked it out for myself. Capital One has generously decided to allow me to upgrade my Quicksilver to... A Quicksilver?

Re: How long till I can upgrade capital one card

Anonymous — Thu, 11 May 2017 18:07:09 GMT

@DeeBee78 wrote:

@Anonymous wrote:
Hey! How's it going?

I believe you want to wait at least 6 months. If you want, you can go to the capital one upgrade link and try the link and see what it says. I'm sure others will chime in and give input!

Here's the link. Just sign in. If you have an upgrade, it'll pop straight up!
http://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-check-for-upgrade-link/td-p/4934733
Very useful link in that thread, thanks for posting it.

I just checked it out for myself. Capital One has generously decided to allow me to upgrade my Quicksilver to... A Quicksilver?

Lol! A lot of us have been getting that. My offer was from QS1 to QS1. Nothing changed at all. I took the upgrade anyway.

Re: How long till I can upgrade capital one card

MoneyBurns — Thu, 11 May 2017 18:32:56 GMT

I got the same upgrade from Quicksilver to Quicksilver or Venture One.

I wonder if we upgraded it, if it would from my Platinum to WMC or WEMC..........

Re: How long till I can upgrade capital one card

SunriseEarth — Thu, 11 May 2017 19:26:10 GMT

@Anonymous wrote:
Hello everyone I was approved for a capital one platinum card about 4 months ago and have since got a $100 CLI how long do I need to wait before I can possibly upgrade to the quicksilver? I had a ch. 7 discharged in January. Thanks for any help

YMMV. I was able to upgrade my VentureOne to QS before my first statement even closed.

You may need to upgrade to QS1 first and then let it grow. If you grow that card to $5K and then upgrade, you'd also likely get a QS WMC when you PC.

Re: How long till I can upgrade capital one card

Anonymous — Thu, 11 May 2017 19:34:56 GMT

Thanks everyone for the help! So my main goal is to just build up my credit. Would I be better off just trying to get the QS1 by itself and keeping my current platinum as is? After I got approved for the Platinum I'm not sure where to go next to build credit. I'm afraid to waste a hard pull

Re: How long till I can upgrade capital one card

Anonymous — Thu, 11 May 2017 20:15:32 GMT

@Anonymous wrote:
OP keep in mind even if you are able to upgrade your platinum to a QS that while you'll be able to get the CB and benefits of the QS your account is still going to be viewed by Cap One as a starter account so you will never be able to grow the card the way you would if you were to open a QS from the start under more favorable terms. I did the same PC that you are considering, but it really puts a different paint job on the same account. As a result, my QS has been hanging out in the SD.

+1 on this ... though I'll add, getting the cash back is a nice perk, even if it's still viewed as a Platinum. I'd say go for the "upgrade" for now, let your scores improve over time, then take stock of what you really want in a credit card(s) and app accordingly

Re: How long till I can upgrade capital one card

Anonymous — Fri, 12 May 2017 07:27:38 GMT

Oh yeah, no doubt about it - definitely go for the PC to a card that gives CB. That's exactly what I did. It's just noteworthy for people to know that this doesn't make their account any "better" in terms of being able to grow that card. I know when I went from the Platinum to the QS I thought it mean I suddenly had a "better" card, meaning that my account would be looked at more favorably and that I'd be able to grow the card nicely finally. I later learned that this was not the case and figure that others going down the same path may want to know this information as well.

Re: How long till I can upgrade capital one card

Anonymous — Wed, 17 May 2017 01:20:04 GMT

I've had mine since October 2016 and I just upgraded mine. I probably could've done it sooner but I'm new to credit cards and just learned about upgrading today lol.

Re: How long till I can upgrade capital one card

Anonymous — Wed, 17 May 2017 03:10:34 GMT

@SunriseEarth wrote:
You may need to upgrade to QS1 first and then let it grow. If you grow that card to $5K and then upgrade, you'd also likely get a QS WMC when you PC.

This depends greatly on what the limit was of the Platinum that the OP was approved for. I don't think he mentioned this yet, but he did mention a $100 CLI which suggests to me that this was a very entry-level account. If that's the case, there is ZERO chance of this account ever growing to $5k. Most of these entry-level accounts plateau at somewhere in the $2k-$3k range.

Outside of baddies alone (I had 4 accounts with late payments) the rest of my file was extremely solid when I applied for the Capital One Platinum. My credit history was long, my file was thick, my utilization was low, my inquiries were low, etc. This all resulted in a 619 score which still yielded me a $3000 approval, likely because the rest of my file was solid and 3 months earlier my scores were all around 800. My file is again clean and my scores are 800 again, yet I've only been able to grow my card from $3000 to $4000 in 2 years. Just a data point here for those that take on a Platinum at less than favorable terms.

Re: How long till I can upgrade capital one card

SunriseEarth — Fri, 19 May 2017 17:58:40 GMT

@Anonymous wrote:
@SunriseEarth wrote:
You may need to upgrade to QS1 first and then let it grow. If you grow that card to $5K and then upgrade, you'd also likely get a QS WMC when you PC.
This depends greatly on what the limit was of the Platinum that the OP was approved for. I don't think he mentioned this yet, but he did mention a $100 CLI which suggests to me that this was a very entry-level account. If that's the case, there is ZERO chance of this account ever growing to $5k. Most of these entry-level accounts plateau at somewhere in the $2k-$3k range.

Outside of baddies alone (I had 4 accounts with late payments) the rest of my file was extremely solid when I applied for the Capital One Platinum. My credit history was long, my file was thick, my utilization was low, my inquiries were low, etc. This all resulted in a 619 score which still yielded me a $3000 approval, likely because the rest of my file was solid and 3 months earlier my scores were all around 800. My file is again clean and my scores are 800 again, yet I've only been able to grow my card from $3000 to $4000 in 2 years. Just a data point here for those that take on a Platinum at less than favorable terms.

My QS with a $16K CL was originally a $300 Household Bank card. However, I did have some help from the EO. From what I've heard, the manual CLI reviews are hard to get these days, but someone else may have more up-to-date info on this.