topic Re: Capital One Product Change on Bucket Cards in Credit Cards

Capital One Product Change on Bucket Cards

Anonymous — Fri, 25 Dec 2020 08:42:19 GMT

Is it possible to PC a bucket card from Capital One into a Savor card?

I have a Quicksilver and QuicksilverOne card. The Quicksilver card started out as a Secured Platinum card. $400 CL with $200 deposit, opened 01/2016. This was upgraded to a non-secure Platinum, then Capital One automatically did a PC to Quicksilver and currently has a $900 CL. The QuicksilverOne card was opened 07/2017 and has a CL of $2,100. These were my first two credit cards and both have terrible CL, which I understand is par for the course with first cards.

My goal would be to use the Savor on dining and entertainment purposes. I would prefer to PC the QuicksilverOne to Savor, since it has a higher CL. I would use it for monthly dining out.

I called in to request a CLI on both cards. Received a $100 CLI on the Quicksilver, but was denied a CLI on the QuicksilverOne due to not using it enough. I could use the QuicksilverOne more often if it would help my chances of a PC. At this point, the CLI from Capital One are so depressing, I use both cards for minor reoccuring bill payments. (They make it so hard to keep total utilization at a low number with these low credit limits.)

On the same phone call, I requested a PC. The rep told me all PC are done automatically and there is nothing she could do or even see if I qualified. Is that the case now? Would I get any different answer calling the back door number? And if yes, should I be calling the account specialist number or senior escalation manager number?

Re: Capital One Product Change on Bucket Cards

ficosuave — Fri, 25 Dec 2020 10:34:07 GMT

There is an upgrade link worth trying.

https://verified.capitalone.com/sic-ui/#/esignin?Product=Card&Action=ProductUpgrade

Unfortunately though, Savor PCs have been off the table since the product refresh a couple years ago.

And I don't believe Capital One reps have any real autonomy above whatever the computer tells them, so I wouldn't expect any better luck with a different rep.

Some years ago there was a publicly available executive contact, but as far as I know that's not really very productive anymore. YMMV.

Sorry to be the bearer of bad news, but as we've seen with the recent return of secured graduations, these policies are always subject to change.

Re: Capital One Product Change on Bucket Cards

FinStar — Fri, 25 Dec 2020 13:28:41 GMT

Short answer - no.

The [Savor/Savor One] PC capability hasn't been available for a while.

Re: Capital One Product Change on Bucket Cards

Anonymous — Fri, 25 Dec 2020 14:26:00 GMT

Even if you are able to PC a low end Cap One bucketed card, the end result is still the same account with a new paint job. So if you've got a bucketed $500 low limit card and PC it to something a better in their product line, it will still be a $500 limit card that doesn't have any better growth capability over the original starter product.

Re: Capital One Product Change on Bucket Cards

Anonymous — Fri, 25 Dec 2020 15:21:42 GMT

@Anonymous wrote:
Even if you are able to PC a low end Cap One bucketed card, the end result is still the same account with a new paint job. So if you've got a bucketed $500 low limit card and PC it to something a better in their product line, it will still be a $500 limit card that doesn't have any better growth capability over the original starter product.

I'm in the same boat as OP and considered a PC as well. But now reading this point, I'm just gonna leave it in the trusty sock drawer. lol Thanks for the insight!

Re: Capital One Product Change on Bucket Cards

Anonymous — Fri, 25 Dec 2020 15:24:04 GMT

Pretty much confirming what I thought. Disappointing but comes with the lender I guess. Thanks for confirming.

Re: Capital One Product Change on Bucket Cards

Anonymous — Fri, 25 Dec 2020 15:27:01 GMT

Yeah, I know it's a new paint job. I already came to terms with it being a bucket card and stingy CL. But wanted a paint job with maybe some new flashy gizmos to go with it (SLIGHTLY better rewards for intended usage). A pipe dream it seems.

Re: Capital One Product Change on Bucket Cards

Anonymous — Fri, 25 Dec 2020 15:32:26 GMT

Glad I could save you some time lol. Sadly it's a good dust collector. Put a $10 reoccurring bill on it and pay it off each month. That's all my cards are good for at this point.

That said, no hate to Capital One. They served their purpose. I was in collections at 16, so my credit was shot at 18. Then an ex messed it up more at 23. Capital One was the only one to give me a card at 26. They are great for starter cards, but then you upgrade to better cards.

Re: Capital One Product Change on Bucket Cards

Anonymous — Fri, 25 Dec 2020 15:34:28 GMT

Oh, and yes I had tried the links before I called. In the same week I was signing up for a SSL and had to call in twice. The first rep didn't know what she was doing and said SSL wasn't offered. So the question was bugging me. And you have thoroughly answered it. Thank you.

Re: Capital One Product Change on Bucket Cards

flexin222 — Fri, 25 Dec 2020 15:37:18 GMT

Hey Jblank, I was thinking and wanting the same thing. Only upgrade I was offered was a Venture card and I wasn't impressed. They pretty much said that I would have to apply for it. Not gonna do that just to knock my score down so I will wait till mid next year maybe. Good luck on getting it!

Re: Capital One Product Change on Bucket Cards

FinStar — Fri, 25 Dec 2020 15:41:14 GMT

@Anonymous wrote:
Yeah, I know it's a new paint job. I already came to terms with it being a bucket card and stingy CL. But wanted a paint job with maybe some new flashy gizmos to go with it (SLIGHTLY better rewards for intended usage). A pipe dream it seems.

Right. Sometimes there's nothing wrong with a new facade if you can have some rewards (if the option is available) in exchange, but at least tempering the expectation that growth is likely moot.

Re: Capital One Product Change on Bucket Cards

Anonymous — Fri, 25 Dec 2020 15:53:48 GMT

Good luck in your success in the future upgrades. I thought about the Venture card as well. But I really don't travel much and looking for rewards outside of travel.

The other issue I have is I already have two cards with Capital One. Unless I'm remembering incorrectly, they only allow two cards. So I wouldn't be eligible for a new card, only an change.

Re: Capital One Product Change on Bucket Cards

Anonymous — Fri, 25 Dec 2020 15:59:01 GMT

Agreed. I started off with 7 years of denials for any card, and was never told about secured cards prior to Capital One denying me for a regular card and countering with a secured card. So my expectations are at the bottom of the bucket, but I keep reaching for the stars, just in case.

Good to know that the Savor/SavorOne is off the table indefinitely. Maybe I can get a new paint job in the future. Until then, I will keep searching for other offers that fit my lifestyle needs.

Re: Capital One Product Change on Bucket Cards

JNA1 — Fri, 25 Dec 2020 18:11:36 GMT

@Anonymous wrote:
Agreed. I started off with 7 years of denials for any card, and was never told about secured cards prior to Capital One denying me for a regular card and countering with a secured card. So my expectations are at the bottom of the bucket, but I keep reaching for the stars, just in case.

Good to know that the Savor/SavorOne is off the table indefinitely. Maybe I can get a new paint job in the future. Until then, I will keep searching for other offers that fit my lifestyle needs.

I used to want to the Savor 1 card for restaurants (the Savor never made sense for us because we would have never spent enough on dining to offset the AF) but after researching here, I realized there are several other cards that what the Savor1 would do for us. I first got the BBVA ClearPoints cards that has unlimited 3% selectable categories for that include both dining and entertainment, a selectable 2% category. I then got the PNC Cash Rewards card that gives 4% on gas, and 3% on dining. Both of these cards had a combined SL of $20,300 and now after a year have a combined CL of $35,500, so they both grow very well and are both very useful cards in multiple ways. They both frequently offer 10% cash back offers at restaurants we frequently go to, and BBVA has a lot of 4 - 6X targeted offers that boost cash back for a month at time in categories like dining, groceries, and gas.

We started building DW's credit profile last year, and we started out with a Credit One card and a bucketed Cap 1 QS. Despite pretty regular spend for a year, the QS grew $350 in a little over a year. We made our daughter a AU on it and she has used it all year long. A few weeks ago after a year of perfect history always PIF, DW recieved another mighty $100 CLI. In the exact timeframe, I've received $43,200 ($19,500 on my AMEX BCP, $9700 on my BBVA, $8500 on my PPMC and $5500 on my PNC Cash Rewards) in CLI's on cards I got at the same time last year as the QS.

This prompted me to decide to completely SD the QS. It's simply not worth the effort. We made our daughter an AU on the PPMC and that is now her daily driver. We will probably end up closing the Credit 1 and Cap 1 cards after her other cards hit 1 year old.

If they were significantly older than the other cards, I'd probably keep them open for the age, but none of her cards are more than 13 months old, we'll likely just get rid of them and move on.

Re: Capital One Product Change on Bucket Cards

HeavenOhio — Fri, 25 Dec 2020 18:37:02 GMT

Welcome, @Anonymous.

Your Quicksilver is likely stuck in the starter bucket. But given its 4-digit limit, your QuicksilverOne may have potential for growth if the card gets use. Of course, the issue is the fee on the QS1 and the notorious difficulty involved in product-changing those cards.

Regarding upgrades, the reps may see more than the link will tell you. If you have two or more cards, the link will likely show only one of them. Also, back during the short period when Savor upgrades were offered, those offers never appeared via the link. If you don't like what you see via the link, call in or chat.

While QuicksilverOne cards are hard to upgrade to no-fee cards, it has happened. The trick may be consecutive months of usage. I was able to upgrade two of these after 12 or 13 consecutive months of use. I didn't necessarily charge a lot — just enough so there'd be a payment during each statement period. It wasn't necessary to report positive balances come statement time.

You haven't mentioned any other cards you might have. But given your QuicksilverOne's limit, you might want to absorb another annual fee in order to try to coax an upgrade offer. Use the card each and every month. And once you've started to stack up a few consecutive months of use, call in and ask about upgrade offers each and every month.

If you're offered an upgrade to a no-fee card, don't be picky about the product, i.e. if the offer is for a VentureOne, take it. Once you've jettisoned the fee, upgrade offers will come more easily. You won't see any further offers for at least six months, but after that, an offer to upgrade to a full Quicksilver will likely appear.

Re: Capital One Product Change on Bucket Cards

Anonymous — Fri, 25 Dec 2020 18:55:14 GMT

So there may be some hope, if I am persistent and keep trying. Doesn't hurt to ask right?

Both of these cards are my first two cards, so they have very low limits. I have a Chase Prime rewards @ $5000 cl for amazon purchases, Amex Blue Cash Preferred @ $25,000 for groceries, steaming services and fuel, and Citi AAdvantage Gold @ $19,500 for all other expenses. Looking at WF Amex Propel from mailer offer for fuel in Jan, and maybe a Southwest Rapid Rewards for travel next year since I switched to Southwest over American Airlines for most flights.

The Capital One cards have limited use at this point to keep utilization low. That's what drew me to the Savor card. The Venture doesn't fit my needs as a travel card with the existing AAdvantage and future cards I'm eying.

I didn't consider doing multiple product changes though. I'll keep your advice in mind should I ever get a product change eligibility. That and the continual usage. I've relied heavily on the Citi card due to being the first card I received with a reasonable CL. Looks like I should do better at spreading my expenses out over the cards to work towards future upgrades.

All valuable info. Thank you!

Re: Capital One Product Change on Bucket Cards

Anonymous — Fri, 25 Dec 2020 19:13:15 GMT

I've tried avoiding the rotating cards for the time being due lack of time to plan for those categories. Sounds like I need to overcome that though. The 10% and 4-6x rotations sound very appealing. And the PNC card may be a better fit than the WF Propel at 3% on gas. Lot more research and planning on my part it looks like.

After reading up the last few weeks, and all the great responses today, I will give up any hope on making the Capital One cards more useful. They are my oldest accounts, and the most useless ones I have. I will keep them open for age, and maybe one day i'll be pleasantly surprised.

My growth on the Capital One cards looks pretty similar to what you experienced. $400 secured ($200 deposit) to non secured $900 in 5 years for the Quicksilver, and $1000 to $2100 in a little over 3 years. Very small growth compared to others.

Also I have to pay props for helping your daughter out on her credit and starting at a young age. I didn't start my journey until my mid late 20s. I mistakenly thought cash was king. It wasn't until I needed a reliable vehicle that I learned the hard way that even with a good paying job, you can't get a basic auto loan without getting royally screwed over.

Re: Capital One Product Change on Bucket Cards

JNA1 — Fri, 25 Dec 2020 20:29:40 GMT

@Anonymous wrote:
I've tried avoiding the rotating cards for the time being due lack of time to plan for those categories. Sounds like I need to overcome that though. The 10% and 4-6x rotations sound very appealing. And the PNC card may be a better fit than the WF Propel at 3% on gas. Lot more research and planning on my part it looks like.

After reading up the last few weeks, and all the great responses today, I will give up any hope on making the Capital One cards more useful. They are my oldest accounts, and the most useless ones I have. I will keep them open for age, and maybe one day i'll be pleasantly surprised.

My growth on the Capital One cards looks pretty similar to what you experienced. $400 secured ($200 deposit) to non secured $900 in 5 years for the Quicksilver, and $1000 to $2100 in a little over 3 years. Very small growth compared to others.

Also I have to pay props for helping your daughter out on her credit and starting at a young age. I didn't start my journey until my mid late 20s. I mistakenly thought cash was king. It wasn't until I needed a reliable vehicle that I learned the hard way that even with a good paying job, you can't get a basic auto loan without getting royally screwed over.

I did the same thing, except it took me until I was almost 40 years old to figure it out. I didn't get my first CC until 3/2018. What's worse is DW didn't have any credit in her at all until last Oct. We put the mortgage and car loans in my name and ignorantly never saw the point or benefit to building her credit. The bad part is that she has pretty good income also, and we had done this right 19 years ago when we got married, we'd be debt free if we chose to be. I shudder at all the extra money I've paid in interest over the years because I thought cash was king. Heck, I bragged about not needing credit, all the while it was costing me thousands. We have DD as an AU on 3 cards and I'm urging her to pay attention to her credit and showing her the benefit of be responsible with it. She's on 3 cards a combined CL of $46,850 with a utlization of 1%, and when she turns 18 her credit rating will most likely be higher than what it took me years to acheive.

Re: Capital One Product Change on Bucket Cards

JNA1 — Sat, 26 Dec 2020 03:15:42 GMT

On Rotation categories - I do have the Discover It card while has predetermined rotating categories, but I prefer cards that have selectable quarterly categories. You do have to select what categories you want every 3 months, but like with my BBVA card. It's been on the same 3% setting since I've had it. The monthly targeted offers are pre-determined, but I keep the quarterly categories the same. With most of the cards, you can set the category for the next quarter way in advance, so I'm ever scrambling to worry about remember to set it. The Jan - Mar categories have already been set on my BBVA card for months.

Other examples of good cards with selectable categories the US Bank Cash + and Elan Max Cash 5% cards, the BOA Cash Rewards, Synovus Cash Back and Travel Rewards card, and others

I just updated a post I made right after we went on my 6 card spree late last year with the cash back and growth we achieved with them.

https://ficoforums.myfico.com/t5/Credit-Cards/Initial-impressions-of-new-cards-Update-1-Year-Review/m-p/6213426#M1760313

Re: Capital One Product Change on Bucket Cards

HeavenOhio — Sat, 26 Dec 2020 02:02:19 GMT

@Anonymous wrote:
After reading up the last few weeks, and all the great responses today, I will give up any hope on making the Capital One cards more useful. They are my oldest accounts, and the most useless ones I have. I will keep them open for age, and maybe one day i'll be pleasantly surprised.

@Anonymous, if your plan is to keep the cards around, you'll want to do what you can to lose that QS1 fee. As noted above, that involves consistent use but not a lot of spending.

But I agree with your assessment that you're doing just fine and don't really need Capital One. I wouldn't quibble with you if you said you wanted to close the cards.