topic Re: Is my cap one QS bucketed? in Credit Cards

Is my cap one QS bucketed?

rgd51 — Tue, 25 May 2021 04:47:55 GMT

I got approved for a QS 5 months ago with a $1,000 SL. Just applied for a CLI and was offered only $100 increase. I have a nearly 7 year credit history with no derogatory stuff of any kind on my CR and 14k of overall CL on 2 chase cards combined. Chase is allowing me to PC my freedom flex to the unlimited so that will kind of make the QS not as valuable so if it is bucketed it isn't a big deal. If it is bucketed I will probably close it since freedom unlimited has a 10k CL.

Re: Is my cap one QS bucketed?

Anonymous — Tue, 25 May 2021 04:57:44 GMT

I don't think a 1k SL is usually bucketed. (could be wrong, if so someone please correct me)

The issue is Cap One $100 increase offers are fairly common. If you're hoping for the line to grow quickly you'll likely be disappointed. If its a useful card for you maybe give it up to six months and see if you're one of the lucky few who get an auto increase.

But keep your expectations low.

Re: Is my cap one QS bucketed?

rgd51 — Tue, 25 May 2021 05:02:35 GMT

I am very upset with cap 1 for many reasons so I probably will be cutting my relationship with them. They were great to me when I was finishing college and had no credit and was hoping I could really grow with them but I couldn't. They wouldn't even let me upgrade my QS1 to a QS. They only allowed the V1. Made me sad that my very first lender wouldn't let me grow with them but oh well. I'll just use my freedom unlimited as my daily driver now.

Re: Is my cap one QS bucketed?

Anonymous — Tue, 25 May 2021 05:08:57 GMT

@rgd51 wrote:
I am very upset with cap 1 for many reasons so I probably will be cutting my relationship with them. They were great to me when I was finishing college and had no credit and was hoping I could really grow with them but I couldn't. They wouldn't even let me upgrade my QS1 to a QS. They only allowed the V1. Made me sad that my very first lender wouldn't let me grow with them but oh well. I'll just use my freedom unlimited as my daily driver now.

You're not alone, totally get it. Plan on closing QS this year. Sometimes we have to accept our limitations with certain lenders. Rather than stress over getting Cap One to increase the limit or not have sh*tshow customer service (my own personal experience, others may feel differently) I simply accept Cap One isn't a lender I'd like to grow with.

GL!

Re: Is my cap one QS bucketed?

AllZero — Tue, 25 May 2021 05:09:15 GMT

For your reading pleasure...

From Curious_George2, How to get a CLI from Capital One

From Aim_High, Woo Hoo !!!! Reached my Capital 1/QS CLI Goal!

From ABCD2199, Credit Card Asset-Backed Securities (ABS) and why some subprime card never grow or graduate

Re: Is my cap one QS bucketed?

AllZero — Tue, 25 May 2021 05:12:39 GMT

@rgd51 wrote:
I am very upset with cap 1 for many reasons so I probably will be cutting my relationship with them. They were great to me when I was finishing college and had no credit and was hoping I could really grow with them but I couldn't. They wouldn't even let me upgrade my QS1 to a QS. They only allowed the V1. Made me sad that my very first lender wouldn't let me grow with them but oh well. I'll just use my freedom unlimited as my daily driver now.

If you are offered the product upgrade from QS1 to Venture One, I would definitely accept it. This will allow you to get out of the QS1 annual fee. Then, after a period of time, you may try to product upgrade to the QS.

Re: Is my cap one QS bucketed?

babygirl1256 — Tue, 25 May 2021 05:26:35 GMT

Gongrats on the Chase PC . . . If CapOne is your oldest account, I probably would keep it because of the account age factor -but- that's probably why I'm stuck with my 10-year old Chase Slate still at $300.00 CL and no auto CLI.

Re: Is my cap one QS bucketed?

Anonymous — Tue, 25 May 2021 07:23:35 GMT

That's one of the reasons im keeping my QS. I just upgraded last year but they are so stingy with the CL increase. Last one i got was for a measly $300. But i dont mind the low limit because i pay it off every month cuz of the crazy high APR.

Re: Is my cap one QS bucketed?

rgd51 — Tue, 25 May 2021 08:44:41 GMT

I had 2 cap one accounts. Had the V1 which started as a QS1 and the QS. Closed the V1 a couple days ago because I waited 6 months to request a PC to the QS and they denied me for the nth time so I just decided to be done with my account. Don't want to always labor for any PC or CLI with no guarantees of getting one. Shouldn't have to go through all those games to get a 1.5% card when every competitor offers one. I know my credit score will take a hit in a decade when it falls off the report but I've met all my goals. Got a mortgage at a 2.5% rate not quite a year ago and I have no plans to move. The freedom unlimited will give 3% on dining and a solid 1.5% on everything else and it being chase makes it more convenient for me because my bank accounts and mortgage are with chase as well so I can manage it all in the chase mobile app. The freedom unlimited actually brings more value to me than a flat rate 2% card since I dine out a lot. My other 2 cards are the chase amazon visa and the target Mastercard so I will use the freedom unlimited for anything that isn't a target or amazon purchase.

Re: Is my cap one QS bucketed?

AverageJoesCredit — Tue, 25 May 2021 11:23:32 GMT

People love Cap One when they cant get any other credit cards but not so much when limits dont grow. Honestly, Cap One should be used as a springboard not as a foundation imho and as many can attest, once they branch out to other lenders, they usually see better results, ie, less hps, higher limits, better growth potential. If one's idea is to crawl at $100 pace to a better limit , even with high spend, by all means Cap One is the lender fir you, if not.....

Re: Is my cap one QS bucketed?

Horseshoez — Tue, 25 May 2021 11:55:07 GMT

As with much else in life, CapOne has its benefits (super easy to use cash rewards) and its drawbacks (three HPs and limited CLIs). I was not terribly enamored with my original CapOne card and closed it after only six weeks. I then opened a Quicksilver six months later with a much higher limit and have since been given an unsurprising (for CapOne) CLI of $300. I'm planning on gardening for roughly another year, after which I will attempt to PC my Quicksilver card to either a Savor or Venture while at the same time see if TDBank will allow me to PC my TDCash card to one of their new DoubleCash cards. If I can pull off those two PCs, then my usage for the two banks will switch, currently my Quicksilver is my "ordinary spend" card and my TDCash card is my "dining out" card. Time will tell.

Re: Is my cap one QS bucketed?

rgd51 — Tue, 25 May 2021 20:58:27 GMT

At this time cap 1 isn't allowing anyone to PC to one of their savor cards but in the future who knows. QS, venture, and V1 are the only cards one can PC to at this time. If you want a savor card they expect you to do a cold app and take a triple pull.

Re: Is my cap one QS bucketed?

Horseshoez — Tue, 25 May 2021 21:06:26 GMT

@rgd51 wrote:
At this time cap 1 isn't allowing anyone to PC to one of their savor cards but in the future who knows. QS, venture, and V1 are the only cards one can PC to at this time. If you want a savor card they expect you to do a cold app and take a triple pull.

LOL, yeah, but given how dynamic (many would say fickle) they are about what they will and will not allow, who knows what they'll be willing to do this time next year.

Re: Is my cap one QS bucketed?

rgd51 — Tue, 25 May 2021 21:10:47 GMT

Agreed but I would recommend the chase freedom unlimited. You get a respectable 3% on dining and 1.5% on everything else. That's basically a dining card and flat rate card all in 1. You may not get the 3 or 4% on entertainment that the savor cards give or the groceries bonus but instead of settling for 1% on everything else with the savor you get 1.5% back on non dining and drugstore purchases with the freedom unlimited.

Re: Is my cap one QS bucketed?

Anonymous — Thu, 27 May 2021 00:43:12 GMT

@rgd51 wrote:
I got approved for a QS 5 months ago with a $1,000 SL. Just applied for a CLI and was offered only $100 increase. I have a nearly 7 year credit history with no derogatory stuff of any kind on my CR and 14k of overall CL on 2 chase cards combined. Chase is allowing me to PC my freedom flex to the unlimited so that will kind of make the QS not as valuable so if it is bucketed it isn't a big deal. If it is bucketed I will probably close it since freedom unlimited has a 10k CL.

That's about the most you will probably get with Cap 1. They do not give out much of a CLI and when they do its like $500-1000k.

Re: Is my cap one QS bucketed?

Horseshoez — Thu, 27 May 2021 00:49:44 GMT

@rgd51 wrote:
Agreed but I would recommend the chase freedom unlimited. You get a respectable 3% on dining and 1.5% on everything else. That's basically a dining card and flat rate card all in 1. You may not get the 3 or 4% on entertainment that the savor cards give or the groceries bonus but instead of settling for 1% on everything else with the savor you get 1.5% back on non dining and drugstore purchases with the freedom unlimited.

LOL, I burned Chase in my bankruptcy, I won't be gifted with a Chase card any time soon.

Re: Is my cap one QS bucketed?

rgd51 — Thu, 27 May 2021 01:37:01 GMT

Yeah even when the bankruptcy drops off your credit report chase won't forget about it. They have a very long memory! People are known for getting denied by chase even years after the bankruptcy falls off their credit report if they had burned chase in the past. They may have way better products than cap one but they are not one to give 2nd chances easily like cap one will. You could still get cards from other issuers that give comparable rewards though. I love chase and have had nothing but good experiences with them for my bank accounts, mortgage, and 2 credit cards I have with them but the cap one customer service isn't nearly as good.

Re: Is my cap one QS bucketed?

HillCountrySpaz — Thu, 27 May 2021 01:39:43 GMT

Every single one of my credit increases from Capital One (quicksilver, platinum) have been $100. Very frustrating!

Re: Is my cap one QS bucketed?

rgd51 — Thu, 27 May 2021 01:51:27 GMT

Yeah thats why I'm ditching them and sticking with chase. Already closed my V1 and will close my QS within the next few days. They are great for building or rebuilding credit but for those with good credit there are far better options. I truly feel they don't care about their customers at all.

Re: Is my cap one QS bucketed?

Horseshoez — Thu, 27 May 2021 02:42:49 GMT

@rgd51 wrote:
Yeah thats why I'm ditching them and sticking with chase. Already closed my V1 and will close my QS within the next few days. They are great for building or rebuilding credit but for those with good credit there are far better options. I truly feel they don't care about their customers at all.

I've written here a number of times, while CapOne has its shortcomings as a credit card issuer, they also have a number of benefits which I appreciate; first and foremost is the ease which one can redeem rewards (like paying for an Amazon purchase directly with reward money), and my wife loves their automatic coupon service. Are they the be all to end all of credit card issuers? No. Do they have a reasonably competitive produce? IMHO, yes.