topic Re: what do i do with a toy limit cap1 QS? in Credit Cards

what do i do with a toy limit cap1 QS?

BM3 — Thu, 27 Sep 2018 03:57:20 GMT

First card was plat from Cap 1, $500 limit. Converted it into quicksilver, got $250 bump to $750.

Since then I've opened 5 more cards, all within last year, with higher limits. This card is only 2-3 months older than others. What do I do with this card? I'd rather get somethign else with higher limit from Cap, or I can relax and garden for awhile - but I just don't think this one grows, right? Cheers

Re: what do i do with a toy limit cap1 QS?

Brian_Earl_Spilner — Thu, 27 Sep 2018 01:41:15 GMT

It can grow, just really slowly. You would get faster growth from opening a card with a better score. But, to get a QS with better limits and growth, you would need very good credit.

Re: what do i do with a toy limit cap1 QS?

Medic981 — Thu, 27 Sep 2018 01:45:12 GMT

Most likely your QS1 is bucketed as a limited/fair credit card. I just closed my QS1 which had a SL of $300 and closed after 23 months at CL of $1,100. I closed this card because of the AF and that it would never be eligible for a PC to a non AF card.

Re: what do i do with a toy limit cap1 QS?

Anonymous — Thu, 27 Sep 2018 01:56:21 GMT

OP, your platinum is no doubt in a "starter bucket" and will remain there forever. I would suggest just throwing the card in your SD and forgetting about it for a while. Maybe take it out every 6 months for a swipe and at that time do a CLI request (every 6 months is their standard). Maybe you'll get a few minor increases here and there, but I doubt the card would ever grow to > $2k or so. What you could do however at some point down the line if you open another Capital One product is then transfer your limit from the starter card over to your new card and at that point close out the starter card. That way you'll at least be able to grow your limit on the new/better card a little quicker when the time comes.

Re: what do i do with a toy limit cap1 QS?

SBR249 — Thu, 27 Sep 2018 02:59:16 GMT

Since you have a QS1 with AF, I'd sugest just canceling it instead of SDing it and keep paying the fee.

The account will keep reporting on your CR for up to 10 years, you aren't going to miss the $750 CL for util purposes if you've got other higher limit cards, and the card itself isn't even that much older than your other cards. There's no reason to keep a card like that that doesn't do anything for you while charging you a fee.

Re: what do i do with a toy limit cap1 QS?

HeavenOhio — Thu, 27 Sep 2018 03:41:29 GMT

See if you can upgrade the card to a Quicksilver. If no offer is available, close the card due to the fee, not the limit.

Re: what do i do with a toy limit cap1 QS?

BM3 — Thu, 27 Sep 2018 03:58:33 GMT

Woops, I messed up. Its a QS not QS1, there is no AF. That's why I was wondering what to do, since it's not hurting anyone. Does upgraded QS from plat remain in same crap bucket, I guess?

The idea to take SL and add to other card is good.

Re: what do i do with a toy limit cap1 QS?

xaximus — Thu, 27 Sep 2018 16:22:35 GMT

Cards with low SL's (which are bucketed as others have mentioned) will rarely ever grow, and if they do, it's usually relatively minor bumps. I would suggest apping for a new card and combining the 2 accounts. Keep in mind, Cap1 does 3x pull.

Re: what do i do with a toy limit cap1 QS?

Anonymous — Thu, 27 Sep 2018 16:26:55 GMT

What I did with mine was cancel it one SaturdayThe limit was $1150 and Sunday morning I applied for another capital one and got $10,000 go figure LOL

Re: what do i do with a toy limit cap1 QS?

Anonymous — Thu, 27 Sep 2018 18:16:39 GMT

OP - here is my experience with Cap One. 7 years ago when I started my rebuild - they were the first bank to approve me for an unsecured card. The same card you started with, the Platinum and a $300 SL. But I was grateful and used it alot and always paid on time. About a year later they had upgraded me to the Quicksliver One and my CL went from $300 to $750 to $2250.

I still have that card - it is now at CL $13,750 and about a week ago I finally upgraded it to the regular no AF Quicksilver card. It is my oldest card by far - second oldest is 4 years and then abunch of 1 to 2 year old accts. So it is valuable to me for AAoA. But even so - they were the first bank to give me a chance - and I will never close that account. I am loyal to them. But most of my current activity does go to other cards that are better fits for my lifestyle.

In you case - up to you - If you continue to rebuild - I would keep it. A $39AF is not that big of a price to pay to rebuild credit. And if you are successful in rebuilding your credit - you may be able to upgrade it to the non AF QS. And even if you can't - I will when you call in to upgrade to the non AF QS - even if you dont qualify for that - you can ask nicely if they will waive the AF - I bet they will.......

Re: what do i do with a toy limit cap1 QS?

Sloedough — Thu, 27 Sep 2018 19:01:09 GMT

OP - My QS is at $5,200. It started as a QS1 with a $300 SL and I upgraded it to a QS. I agree that it was in the "starter bucket", but once I upgraded it it grew. All I did was monthly I requested a CLI. Most of the time it was denied, but the times I was approved it grew substantialy. I can honestly say that I think the card is no longer in the "starter bucket".

Re: what do i do with a toy limit cap1 QS?

AverageJoesCredit — Thu, 27 Sep 2018 22:32:50 GMT

Play with it

Re: what do i do with a toy limit cap1 QS?

Anonymous — Fri, 28 Sep 2018 07:56:09 GMT

@SloedoughOP - My QS is at $5,200. It started as a QS1 with a $300 SL and I upgraded it to a QS. I agree that it was in the "starter bucket", but once I upgraded it it grew. All I did was monthly I requested a CLI. Most of the time it was denied, but the times I was approved it grew substantialy. I can honestly say that I think the card is no longer in the "starter bucket".

This example above is the exception, not the norm. 9 out of 10 people on this forum that have a Capital One card that's born on a starter account will never see that card grow substantially. It doesn't matter if the card is PC'd to a better product, if the person's credit scores improve 200 points, etc. Your example above is possible no doubt (you are evidence of that) but it's really a 1 out of 10 type chance that it happens. This is just important for people like the OP to understand so that they don't develop unreasonable expectations.

Re: what do i do with a toy limit cap1 QS?

Anonymous — Fri, 28 Sep 2018 19:16:04 GMT

I’m in a similar situation. I had the platinum card SL’s $500. And they did auto CLI after 5 month, raised it to $1500. And then I PC it to QS. But technically it’s still a Plaiunum MasterCard, just with $1500, and earns rewards. My score now is better and I have much better cards from Chase and Amex that have much higher limits. $1500 is my lowest card right now.

According to the topic in this thread, will this card not grow anymore? I’m thinking if it can reach $5000 then I’ll keep it. Or if I PC to Savor will the limit increase??

Re: what do i do with a toy limit cap1 QS?

FireMedic1 — Fri, 28 Sep 2018 20:33:54 GMT

@Anonymous wrote:
I’m in a similar situation. I had the platinum card SL’s $500. And they did auto CLI after 5 month, raised it to $1500. And then I PC it to QS. But technically it’s still a Plaiunum MasterCard, just with $1500, and earns rewards. My score now is better and I have much better cards from Chase and Amex that have much higher limits. $1500 is my lowest card right now.

According to the topic in this thread, will this card not grow anymore? I’m thinking if it can reach $5000 then I’ll keep it. Or if I PC to Savor will the limit increase??

There really isnt a set in stone result. Some get more, some dont. If there was a solid set climb then everyone would be doing it. Many complain they wont grow more than a few that have had success. My case I used them until I could get approved for the top Cap1 cards and then they went bye bye. Like they say here YMMV especially when it comes to Cap1.

Re: what do i do with a toy limit cap1 QS?

HeavenOhio — Fri, 28 Sep 2018 22:00:52 GMT

@Anonymous wrote:
I’m in a similar situation. I had the platinum card SL’s $500. And they did auto CLI after 5 month, raised it to $1500. And then I PC it to QS. But technically it’s still a Plaiunum MasterCard, just with $1500, and earns rewards. My score now is better and I have much better cards from Chase and Amex that have much higher limits. $1500 is my lowest card right now.

According to the topic in this thread, will this card not grow anymore? I’m thinking if it can reach $5000 then I’ll keep it. Or if I PC to Savor will the limit increase??

If you've reached a $1,500 limit, it's possible that your card could still be in a subprime bucket. But I think the chance of increasing your limit is a lot better than it would be for many. A lot of people here have trouble CLI-ing limits beyond the $750 range.

The Platinum designation is confusing. It's the name of a Capital One product, a Visa product, and a MasterCard product. As far as Capital One products go, your card is no longer a Platinum. But it's still Platinum in MasterCard terminology. Making this even more confusing is that when you log into your account, Capital One might identify your card with either their own product name (Quicksilver, Savor, etc.) or the Visa/MasterCard product name (Platinum, World, World Elite, or Signature).

Re: what do i do with a toy limit cap1 QS?

BM3 — Fri, 28 Sep 2018 22:52:07 GMT

Heaven, I am 99% sure it's a marketing ploy to get someone to feel good about their plat card..

Re: what do i do with a toy limit cap1 QS?

Anonymous — Sat, 29 Sep 2018 07:13:07 GMT

@HeavenOhio
If you've reached a $1,500 limit, it's possible that your card could still be in a subprime bucket. But I think the chance of increasing your limit is a lot better than it would be for many. A lot of people here have trouble CLI-ing limits beyond the $750 range.

That is correct above. It's also possible to have a limit that's higher than that and still be in a subprime bucket. My SL on my CO Platinum was $3000 and it was a starter account. I was able to get a pair of $500 CLIs on the card, but it stalled at $4000 and wouldn't ever go any higher than that even though my credit scores went up 200 points and my profile went from weak to strong.

Re: what do i do with a toy limit cap1 QS?

Sloedough — Wed, 03 Oct 2018 14:51:08 GMT

@Anonymous wrote:
I’m in a similar situation. I had the platinum card SL’s $500. And they did auto CLI after 5 month, raised it to $1500. And then I PC it to QS. But technically it’s still a Plaiunum MasterCard, just with $1500, and earns rewards. My score now is better and I have much better cards from Chase and Amex that have much higher limits. $1500 is my lowest card right now.

According to the topic in this thread, will this card not grow anymore? I’m thinking if it can reach $5000 then I’ll keep it. Or if I PC to Savor will the limit increase??

My QS (then a QS1) was at $1,500 for a long time, almost a year. Then the next CLI they pumped me to $3,200. Maybe they reviewed the account and "Changed the Bucket".

Re: what do i do with a toy limit cap1 QS?

chatty383 — Wed, 03 Oct 2018 21:22:12 GMT

Awesome, hopefully my limit will have increased tremendously by this time next year.