topic Re: CapOne Platinum PC to QS question in Credit Cards

CapOne Platinum PC to QS question

Anonymous — Thu, 17 May 2018 17:08:20 GMT

I've been searching for the answer to my question with no success. Pardon me if the answer to my question is in a thread only went five pages into my searches. My question is if CapOne PC's a Platinum into a QS does that card remain under the sub prime rule of only two CapOne sub prime cards or does it graduate into the prime category thus opening a slot in the sub prime category because I have a secured card taking up one of the sub prime slots awaiting EO response before closure. I should note that I am in the garden until the end of the year this is strictly for educational purposes.

Re: CapOne Platinum PC to QS question

HeavenOhio — Thu, 17 May 2018 17:40:05 GMT

That's a great question.

I can only guess, but I'd bet that once the card is a Quicksilver, it would escape the two subprime cards rule. That doesn't mean that it would escape being bucketed as subprime for CLI purposes, though.

Re: CapOne Platinum PC to QS question

Anonymous — Thu, 17 May 2018 17:47:53 GMT

I figured it may be bucketed having been upgraded from a sub prime but would potentially be overcome if indeed the card is moved from the sub prime category by adding another sub card and growing them combining their limits PCing to another QS then Combining again for a decent CL. I was just curious if anyone in this situation had successfully added another sub prime after PCing one of their sub prime cards.

Re: CapOne Platinum PC to QS question

HeavenOhio — Thu, 17 May 2018 18:34:42 GMT

I'm not sure that a lot of people have followed that sequence of steps. For most, it would likely make sense to apply directly for a prime card.

Re: CapOne Platinum PC to QS question

Anonymous — Thu, 17 May 2018 20:16:12 GMT

I wondered the same thing. I used a link I found on this forum to PC from Platinum to Quicksilver. The SL remained the same @ $300. I asked for a CLI and got $100. After my sixth statement, I got an auto CLI, raising my overall SL to $750. My statement still says "Platinum Mastercard" so I am assuming I am still in the bucket in which I started.

Silly me, I forgot that Capital One pulls all three reports, but I checked on their website for pre-qualified options and was shown in this order: 1) Quicksilver 2) Venture Rewards 3) Savor. So...I applied a few days ago and was approved for a Quicksilver card with a $5,000 SL.

Hope this bit of info is helpful.

Re: CapOne Platinum PC to QS question

UncleB — Thu, 17 May 2018 20:27:03 GMT

@Anonymous wrote:
@I wondered the same thing. I used a link I found on this forum to PC from Platinum to Quicksilver. The SL remained the same @ $300. I asked for a CLI and got $100. After my sixth statement, I got an auto CLI, raising my overall SL to $750. My statement still says "Platinum Mastercard" so I am assuming I am still in the bucket in which I started.

Silly me, I forgot that Capital One pulls all three reports, but I checked on their website for pre-qualified options and was shown in this order: 1) Quicksilver 2) Venture Rewards 3) Savor. So...I applied a few days ago and was approved for a Quicksilver card with a $5,000 SL.

Hope this bit of info is helpful.

Unless your card is a World or World Elite it will say "Platinum" on your statement since that's the network level of the card.

Capital One can be confusing, since in addition to the Platinum network level they also have a no-rewards product they call "Platinum" as well.

Re: CapOne Platinum PC to QS question

FireMedic1 — Thu, 17 May 2018 23:43:35 GMT

Been there done that during my rebuild in 2015-16. Once a Plat it stays a Plat. Look at the back of your QS. It says Plat. Once I got my scores up. Applied for the reg QS WEMC, then Venture VS, then, Savor WEMC. In between, the starters were closed over time. This was before the 6 month rule. In time. Apply for the QS and so on. Once you hit the prime bucket. So long subprime. JMO.

Re: CapOne Platinum PC to QS question

Anonymous — Fri, 18 May 2018 00:03:45 GMT

Ok so in your experience the Platinum that was upgraded to QS remained sub prime. That's what I was looking for as I have a secured card that is my oldest card 3yr 4mo next oldest is 1yr 9mo so I'm I emailed EO asking to remove AF on it as their new secured cards carry no AF then SD it for AAoA. I was curious if the upgrade and closure of the secured card if AF isnt removed would get rid of the sub prime category for me. Not that I care I'm just aware the sub prime cards typically dont get as much luv as prime cards.

Re: CapOne Platinum PC to QS question

FireMedic1 — Fri, 18 May 2018 08:53:32 GMT

I never had a secured card. I had no cards for almost 10 years. I got the first card a Plat 2k SL and started from there. Upgraded a few months after. The apply every 6 month rule wasn't in place then. I got the QS1 a few months later. (2 Low tier) I think I got the reg QS WEMC 9 months after the Plat. They were so close together, didnt care about oldest card then. Closing the oldest card was less than a year. No biggie. So it was open Plat, upgraded to QS Plat, open QS1, close Plat, got QS WEMC, opened Venture, closed QS1, then opened Savor. All low tier gone in that order. Each time I applied the SL's were 10k+. It took a couple years. But the low tiers are out to pasture. Hope this helps. It was a game. GL!

Re: CapOne Platinum PC to QS question

SomewhereIn505 — Fri, 18 May 2018 11:04:31 GMT

@Anonymous wrote:
I've been searching for the answer to my question with no success. Pardon me if the answer to my question is in a thread only went five pages into my searches. My question is if CapOne PC's a Platinum into a QS does that card remain under the sub prime rule of only two CapOne sub prime cards or does it graduate into the prime category thus opening a slot in the sub prime category because I have a secured card taking up one of the sub prime slots awaiting EO response before closure. I should note that I am in the garden until the end of the year this is strictly for educational purposes.

I believe the answers is somewhat.

When I PC’d, my interest rate went up, but I also gained rewards and a card that didn’t appear to be a subprime card. I also noticed my steps CLI was greater than what was promised. I don’t know if this is because of the amount I was running through it, higher scores, etc. it’s a YMMV thing.

On your report, all Cap One cards report the same - you have an account, your CL, your statement balance, and if paid timely. Someone with a $1100 CL (like me) cannot tell, from my CR if it’s a Platinum or QS. All they see is Cap One and know they offer different card.

Hope this helps.

Re: CapOne Platinum PC to QS question

HeavenOhio — Fri, 18 May 2018 11:53:41 GMT

@SomewhereIn505, did your interest rate go up drastically, or was the increase minimal? The reason I ask is that PCs aren't supposed to change card terms other than the rewards structure and possibly the annual fee. Interest rates have been going up a little on almost all cards. Could your increase have been one that would have happened anyway?

Re: CapOne Platinum PC to QS question

SomewhereIn505 — Fri, 18 May 2018 12:28:34 GMT

@HeavenOhio wrote:
@SomewhereIn505, did your interest rate go up drastically, or was the increase minimal? The reason I ask is that PCs aren't supposed to change card terms other than the rewards structure and possibly the annual fee. Interest rates have been going up a little on almost all cards. Could your increase have been one that would have happened anyway?

It was minimal. I think to cover the rewards portion (or at least that is what I think it was). At the time I PC'd it was my only card and I was swipping and making weekly payments. Perhaps that is why they gave me a higher than stated steps CLI.

On my QS1, I barely swipped, but PIF. They still gave me a higher than stated steps CLI. The only thing I can think of is that I have a good internal score with them.

Now I'm just waiting to see when Cap One will allow me to combine the accounts into a single card. Per Cap One CSR, that system is automated and supposidly they (the CSR supervisor) cannot override it.

Re: CapOne Platinum PC to QS question

Brian_Earl_Spilner — Fri, 18 May 2018 13:02:56 GMT

The prime rate just increased recently, so that might have been what it was if it was an increase of 0.25%. Everyone should have got that rate increase though. Unfortunately, unless you have something monitoring your accounts, you won't get notified. I use Mint so that's how I found out, when I got an alert my APR went up.

@SomewhereIn505 wrote:
@HeavenOhio wrote:
@SomewhereIn505, did your interest rate go up drastically, or was the increase minimal? The reason I ask is that PCs aren't supposed to change card terms other than the rewards structure and possibly the annual fee. Interest rates have been going up a little on almost all cards. Could your increase have been one that would have happened anyway?
It was minimal. I think to cover the rewards portion (or at least that is what I think it was). At the time I PC'd it was my only card and I was swipping and making weekly payments. Perhaps that is why they gave me a higher than stated steps CLI.

On my QS1, I barely swipped, but PIF. They still gave me a higher than stated steps CLI. The only thing I can think of is that I have a good internal score with them.

Now I'm just waiting to see when Cap One will allow me to combine the accounts into a single card. Per Cap One CSR, that system is automated and supposidly they (the CSR supervisor) cannot override it.

Re: CapOne Platinum PC to QS question

UncleB — Fri, 18 May 2018 17:08:15 GMT

@Brian_Earl_Spilner wrote:
The prime rate just increased recently, so that might have been what it was if it was an increase of 0.25%. Everyone should have got that rate increase though. Unfortunately, unless you have something monitoring your accounts, you won't get notified. I use Mint so that's how I found out, when I got an alert my APR went up.

With Capital One a PC should never result in an APR change (in either direction).