topic Re: I stumped Capitol One today. in Credit Cards

I stumped Capitol One today.

TaperRandy — Mon, 14 May 2018 20:56:12 GMT

Not that I ever cash advance nor would I ever, but I wanted to understand something unique about both of my Cap One cards. So I called and asked. My Cap One platinum has a credit line of $11,750. My Quicksilver has a credit line of $9000. My cash advance limit on the platinum is $500. My cash advance limit on the Quicksilver is 4000! I called and asked for an explanation as to how a lower line could offer me almost 50% cash advance, while the higher line offered me almost nothing. No answers. None to be found anywhere. Several transferred calls later, "I'm sorry sir we just can't help you today with an explanation". And so goes the labyrinth of logic that is the world of credit. 💳💵💰🤔

Re: I stumped Capitol One today.

SomewhereIn505 — Mon, 14 May 2018 21:26:18 GMT

I'm sure you know this already, but the Platinum card is their lower level/rebuilder card while QuickSilver is for those with better credit. If anything, I would see about combining the accounts into the QS.

And yes their CS reps work off a script and do not have much intelligence. I've always had to go to a supervisor for answers, but generally took what they said with a grain of salt, too.

Re: I stumped Capitol One today.

MrDisco99 — Mon, 14 May 2018 21:52:20 GMT

My guess would be you started those out with lower limits and got CLIs but your cash advance limit didn't go up with them.

My Amex cards work in a similar way. I have a $25K BCE with a $800 cash advance limit (CL started at $4K)

Re: I stumped Capitol One today.

fltireguy — Mon, 14 May 2018 22:16:57 GMT

The only intelligence I've ever found with Capital One, is with the EO

Re: I stumped Capitol One today.

TaperRandy — Tue, 15 May 2018 01:06:24 GMT

I'd have to look into that particular observation that you put forth. However I don't believe that I started out with a $4000 cash advance limit on a $1000 card. Talking about the Quicksilver. That one managed to adjust and increase accordingly, with the credit line increases, but the platinum stayed where it began. Very odd.

Re: I stumped Capitol One today.

Anonymous — Tue, 15 May 2018 01:32:42 GMT

The platinum is their entry-level card that those with poor-fair credit can get. I would say that's likely the reason why you can't get a cash advance of very much on that card. Why do you still have the platinum card if you have the QS? I'd probably move your platinum limit over to the QS and call it a day, closing the platinum. Just my opinion though. Or if there's another CO card that you could see yourself applying for, keep the platinum open until you open the new card and slide the platinum limit over to it first.

Re: I stumped Capitol One today.

TaperRandy — Tue, 15 May 2018 11:35:36 GMT

Exactly the answer I was looking for! You sir are a gentleman, and a scholar. I'm going to slide my Platinum over to QS. Right after I get my Cap1 in house soft pull CLI. 😉 Thanks!!

Re: I stumped Capitol One today.

Anonymous — Tue, 15 May 2018 12:46:54 GMT

The only footnote that I would add to this discussion would be that if the platinum is your oldest CC, I would keep it open, as closing your oldest account usually isn't a good idea. If the platinum did happen to be your oldest account, I'd suggest moving all but $500 of the limit over to your QS, then throw the $500 platinum card into your sock drawer and forget about it. You could take it out of the drawer every 6 months or so for a single small swipe like a Red Bull and pay it off just to keep it alive. If it isn't your oldest card though, closing it would be perfectly fine as previously discussed.