topic Re: Cap1 Product Change Question... in Credit Cards

Cap1 Product Change Question...

Petit3tee — Sun, 09 Jun 2019 02:35:17 GMT

So I've just upgraged my Cap1 Platinum to QS1 today after having the card since 2011. I've also requested CLI but they did not respond right away (current is $850, last CLI was 4 years ago). My question is how many times you can do PC with cap1? Let say from QS1, can you do another pc down the road to QS or something else?

My goal is to only have 2 account (venture1 & savor or venture) with them. I already have the Venture1 (also a pc from platinum) and either a Venture or the Savor without closing neither of the current accounts and reapplying, they're my oldest. Thank you all!

Re: Cap1 Product Change Question...

KLEXH25 — Sun, 09 Jun 2019 04:48:29 GMT

I believe they allow multiple product changes as long as the card is eligible, but if that original Platinum card was bucketed, so will your PC’d cards. What kind of limit does the other Capital One card have? You might want to close one of them (if bucketed) and open a new card. You have a better chance of getting a higher CL. Otherwise, growth will be stagnant at best.

Re: Cap1 Product Change Question...

Shooting-For-800 — Sun, 09 Jun 2019 12:53:26 GMT

You are not limited on PCs as long as they qualify.

I went from QS MC to Venture WMC to Savor WEMC.

Why VentureOne over QuickSilver?

Re: Cap1 Product Change Question...

Petit3tee — Wed, 12 Jun 2019 15:45:28 GMT

@KLEXH25 wrote:
I believe they allow multiple product changes as long as the card is eligible, but if that original Platinum card was bucketed, so will your PC’d cards. What kind of limit does the other Capital One card have? You might want to close one of them (if bucketed) and open a new card. You have a better chance of getting a higher CL. Otherwise, growth will be stagnant at best.

Does bucketed mean keeping the card open without actively using it? Sorry, I don't really know... The only thing concern me is that it's the oldest card. If I close it, it'll definitely hurt my AAoA. Or maybe I better of leaving it in the sock drawer and aim for a different card? My first cap1 is stuck with $850 CL and the second oldest is venture1 with $4800 CL. Goal is wither QS or Savor, possible to pc the second one and let alone the first one?

Re: Cap1 Product Change Question...

Petit3tee — Wed, 12 Jun 2019 15:46:58 GMT

@Shooting-For-800 wrote:
You are not limited on PCs as long as they qualify.

I went from QS MC to Venture WMC to Savor WEMC.

Why VentureOne over QuickSilver?

Venture1 was the only upgrade option given at the moment. If you're saying it's unlimited then I can go from venture1 to venture then?

Re: Cap1 Product Change Question...

Shooting-For-800 — Wed, 12 Jun 2019 21:43:23 GMT

@Petit3tee wrote:
@Shooting-For-800 wrote:
You are not limited on PCs as long as they qualify.

I went from QS MC to Venture WMC to Savor WEMC.

Why VentureOne over QuickSilver?
Venture1 was the only upgrade option given at the moment. If you're saying it's unlimited then I can go from venture1 to venture then?

Every six months if you qualify. If you do not see the option you want, call them.

QuickSilver is better than VentureOne unless one uses hotel.com a lot.

GL!

Re: Cap1 Product Change Question...

KLEXH25 — Thu, 13 Jun 2019 02:57:02 GMT

Bucketed essentially means that it won’t grow. It was a starter card offered to you when you had little to no credit, but it’s not designed to grow much beyond whatever growth they’ve designated for that particular account. So even if you PC that card, it will be incredibly difficult to get that CL higher because it’s still the same account. What is the age difference between your oldest card and second oldest card? For scoring purposes, your card will continue to contribute to your account age up to 10 years from when you close it. So it will only matter much farther down the future. By then, you’ll hopefully have a nice, thick file and it won’t affect you that much.

Re: Cap1 Product Change Question...

Anonymous — Thu, 13 Jun 2019 04:09:22 GMT

Wow, that is one bucketed card considering the great cards you have now. I honestly would have left it a Platinum card so you didn’t have the AF. Honestly, the only reason to keep your account open is the history. If you want a Savor or Venture, you will have to cold app. You now have the mark of the QS1. It will never leave you.

If you have the Gold card, I honestly don’t see a huge benefit to the Savor Card. Cap has slowly been making the Venture a better card with transfers and Hotels.com for those who don’t need status. So I would aim for that.

Re: Cap1 Product Change Question...

Petit3tee — Fri, 14 Jun 2019 13:27:07 GMT

@KLEXH25 wrote:
Bucketed essentially means that it won’t grow. It was a starter card offered to you when you had little to no credit, but it’s not designed to grow much beyond whatever growth they’ve designated for that particular account. So even if you PC that card, it will be incredibly difficult to get that CL higher because it’s still the same account. What is the age difference between your oldest card and second oldest card? For scoring purposes, your card will continue to contribute to your account age up to 10 years from when you close it. So it will only matter much farther down the future. By then, you’ll hopefully have a nice, thick file and it won’t affect you that much.

I just took a good look at my report and I was all wrong!

- Venture1 (CL $4800) opened Dec. 5, 2011 <------ this is actually my oldest account!

- QC1 (CL $850) opened Dec. 20, 2011 <------ this is the second oldest. Is it safe to close without hurting my score aging?

Re: Cap1 Product Change Question...

Petit3tee — Fri, 14 Jun 2019 13:37:24 GMT

@Anonymous wrote:
Wow, that is one bucketed card considering the great cards you have now. I honestly would have left it a Platinum card so you didn’t have the AF. Honestly, the only reason to keep your account open is the history. If you want a Savor or Venture, you will have to cold app. You now have the mark of the QS1. It will never leave you.

If you have the Gold card, I honestly don’t see a huge benefit to the Savor Card. Cap has slowly been making the Venture a better card with transfers and Hotels.com for those who don’t need status. So I would aim for that.

I kept on hearing the platinum doesn't have AF but my platinum did come with $29 AF. Now that it's QS1, AF is still $29 which is better than platinum that doesn't give me anything back... But I might just close it, I've just found out it's actually my SECOND oldest, not the oldest. And yes, I'm eyeing on the venture because of that transfers, hotels.com and the global entry. Will likely take a shot if safe to do so

Re: Cap1 Product Change Question...

Anonymous — Fri, 14 Jun 2019 13:40:45 GMT

I would get get another card to replace the $850 and close it... but before you do that... I would check to see why your scores are so apart from each other? I have that with transunion but only about 5 to 10pts and know the reason...

Re: Cap1 Product Change Question...

Petit3tee — Fri, 14 Jun 2019 13:57:03 GMT

@Anonymous wrote:
I would get get another card to replace the $850 and close it... but before you do that... I would check to see why your scores are so apart from each other? I have that with transunion but only about 5 to 10pts and know the reason...

Updated scores are in the sig now! (A little dip from previous month) There's a falsely collection reported on all 3 bu a few months back, one of the buereaus took too long to remove it and that's how my scores were so apart.

Re: Cap1 Product Change Question...

HeavenOhio — Fri, 14 Jun 2019 18:17:57 GMT

Closing your card should have little to no effect now. It's likely to stay on your report for 10 years or so. At that point, you'd see a drop in AAoA (average age of accounts) that probably won't matter by much. Of course, your AoOA (age of oldest account) will be unaffected.

We occasionally see old Capital One Platinum cards will fees. For some, it's unusual to see an upgrade offer at all. In this case, I think taking the QS1 upgrade was the right thing to do. In most cases, that would be an awful thing to do.

You could try to coax an upgrade offer on your QS1, realizing that they're hard to get and that you shouldn't be frustrated if you try. Data points here indicate that consecutive months of usage may be a key. I was able to upgrade two QS1 cards after 12 or 13 consecutive months of usage.

Use the card each and every month. It can be for something small, and your balance can be paid off right away if you'd like. Because of Capital One's rules, you won't see any upgrade offers for six months. But after that, call in and check for offers every month. If an offer appears, don't be picky. As long as there's no annual fee, take it.