topic Re: Cap1 No upgrade in Credit Cards

Cap1 No upgrade

FreedomHammer — Wed, 24 Feb 2021 14:53:29 GMT

I opened a Platinum MasterCard with C1.

As of today, my account has been opened for ninety days. There is no option to upgrade to QS. Is all hope lost? Some people say six months is a better time to check, while others were offered the upgrade around day 90.

Re: Cap1 No upgrade

dragontears — Wed, 24 Feb 2021 15:01:04 GMT

@FreedomHammer wrote:
I opened a Platinum MasterCard with C1.

As of today, my account has been opened for ninety days. There is no option to upgrade to QS. Is all hope lost? Some people say six months is a better time to check, while others were offered the upgrade around day 90.

You have had the account for 3 months.

"Is all hope lost?" No, your account is still a baby, give it time and keep checking for upgrade offers.

Re: Cap1 No upgrade

Ficoproblems247 — Wed, 24 Feb 2021 15:14:59 GMT

Have to chuckle at "baby account" whenever someone says it. Difinitely a true statement though! Good times to check for upgrades early on for Cap1 are at 101 days (very hit or miss), then 181 days (more feasible) if no dice the first time. It's worth taking 5-10 minutes to call and talk to a CSR if you don't see anything available online. Good luck, and let us know what happens if they give you a PC!

Re: Cap1 No upgrade

Anonymous — Wed, 24 Feb 2021 16:18:14 GMT

I'd just give it more time.

Out of curiosity, was this a starter/bucketed account? What did your profile look like at the time you applied/got approved for your Platinum?

Re: Cap1 No upgrade

rostrow416 — Wed, 24 Feb 2021 16:38:12 GMT

Gotta wait until after 100 days for an upgrade. I read that before and tested on my Platinum - no dice until day 101, then got the Quicksilver.

Re: Cap1 No upgrade

FreedomHammer — Wed, 24 Feb 2021 17:41:15 GMT

Yes. I am certain it is bucketed. My FICO scores are low 600.

I really don't like this card and low limit, and wonder how long I will be stuck with junky builder cards? My three bureaus will all be clean by November this year.

Re: Cap1 No upgrade

Mr_Mojo_Risin — Wed, 24 Feb 2021 20:45:56 GMT

As a few others posted, 101 days is the point where many were successful at upgrading ( myself included).

Re: Cap1 No upgrade

quikj9 — Wed, 24 Feb 2021 21:48:48 GMT

It took 3 months, 11 days from activation for me to get a Quicksilver upgrade offer on my bucketed Credit Steps Platinum card. I'd give it another couple of weeks.

You likely won't be stuck in credit purgatory for as long as you think. There are better days and cards ahead, especially given your reports becoming clean later this year. That's awesome!

Re: Cap1 No upgrade

FreedomHammer — Wed, 24 Feb 2021 23:19:18 GMT

Thank you for the encouragement. I will try in a couple weeks to upgrade the card.

Re: Cap1 No upgrade

Loquat — Wed, 24 Feb 2021 23:30:24 GMT

Hope it shakes out for you OP. I know 1.5% isn't all that much but it's certainly better than a card that earns nothing.

Re: Cap1 No upgrade

WavysMommy — Thu, 25 Feb 2021 00:39:57 GMT

I didn't get an upgrade til month 17 post opening. Some folks YEARS. Some folks still haven't been offered an upgrade after using responsibly for years. So no, all hope isn't lost. You just shouldn't expect an upgrade after 90 days.

I was offered QS card 7 months after I was approved for the secured Platinum card. Just be patient.

Re: Cap1 No upgrade

Anonymous — Thu, 25 Feb 2021 17:59:07 GMT

I've been with Cap1 since 2015. I have never missed a payment or maxed the card out. I've pif tons of times and carried balances tons of times. I habent recieved a cli from then in about 3 years now. And I just received the offer to upgrade to the qs earlier this month. I wasn't offered a cli with the new card, just the benefits of the new card. I have until 2025 until my derogatory sl accounts age off giving me a clean scorecard. Cant wait to ditch cap1 at that time. Until then ill make small charges once a quarter to show usage.

Re: Cap1 No upgrade

FreedomHammer — Thu, 04 Mar 2021 23:44:46 GMT

What was your original CL with your platinum MC? Mine is $500.

Re: Cap1 No upgrade

Horseshoez — Fri, 05 Mar 2021 01:22:58 GMT

@FreedomHammer, it seems there are many different experiences for virtually the same result. In my case I applied for CapOne secured card last April, almost exactly one month after my Chapter 13 was discharged. I was approved for a $1,000 credit line based upon the $849 security deposit I sent them, and received a Platinum MasterCard for my efforts. Long story short, the experience wasn't a good one, I quickly learned I either needed a much higher line of credit or I needed to pay the card off every week or two, then I learned making more than one payment per cycle leads to triggering Anti-Money Laundering protocol and they hold your payment for up to 12-days before releasing the funds. I paid the card off and closed it less than six weeks after I got it, and figured that would be enough to have me blacklisted for a good long time.

That was last June; rougly six months to the day after I closed the card I received a PreApproved offer in my E-Mail for a Quicksilver card, yeah, I was shocked. I applied and was instantly approved for a $3,000 credit limit. You could have knocked me over with a feather. Better still, this time around, my experience with CapOne is about as good as can be expected.

Re: Cap1 No upgrade

DebtJoe — Fri, 05 Mar 2021 19:54:55 GMT

Have had both my Cap 1 cards for 1-2 years. My QS1 is 2 years old and QS is over a year old.

I have yet to see an upgrade link on either card. I'm fairly sure my QS1 is bucketed as that was one of my first cards that I got during my rebuild, and I pretty much put very little spend on both.

I guess it depends on your individual account.

Re: Cap1 No upgrade

FreedomHammer — Sat, 06 Mar 2021 18:52:47 GMT

What is the money laundering thing? I've had the account three months (still no upgrade) and make a payment once a week or so and they don't seem to mind.

Re: Cap1 No upgrade

Horseshoez — Sat, 06 Mar 2021 18:58:10 GMT

@FreedomHammer wrote:
What is the money laundering thing? I've had the account three months (still no upgrade) and make a payment once a week or so and they don't seem to mind.

Lucky you; when I made them once a week they'd hold the money for up to 12 days. Numerous calls to customer service yielded bewildered reps who could only say, "We need to make sure they money you sent us will actually be paid." Yeah, I sent the money via online bill-pay from my bank, they wouldn't even know about payment unless they'd already gotten the money.

I work in the financial industry (not banking or credit), and did some research and triggering AML will definitely cause funds to be held to confirm the source of the money is "clean". Was CapOne triggering some sort of an AML protocol? That's my guess as so far at least, that is the best explanation.

Re: Cap1 No upgrade

Anonymous — Sat, 06 Mar 2021 22:40:43 GMT

@Horseshoez wrote:
@FreedomHammer wrote:
What is the money laundering thing? I've had the account three months (still no upgrade) and make a payment once a week or so and they don't seem to mind.

Lucky you; when I made them once a week they'd hold the money for up to 12 days. Numerous calls to customer service yielded bewildered reps who could only say, "We need to make sure they money you sent us will actually be paid." Yeah, I sent the money via online bill-pay from my bank, they wouldn't even know about payment unless they'd already gotten the money.

I work in the financial industry (not banking or credit), and did some research and triggering AML will definitely cause funds to be held to confirm the source of the money is "clean". Was CapOne triggering some sort of an AML protocol? That's my guess as so far at least, that is the best explanation.

For some reason push payments seem to make banks more twitchy than pull payments do. I never had a problem with the frequency I was paying my Capital One card with pull payments and there were times I would be paying it twice a week when I only had a $500 limit to use. More than a few times now I have heard about banks putting a hold on money that was pushed though so the only bank I push to is Synchrony.

Re: Cap1 No upgrade

Horseshoez — Sat, 06 Mar 2021 22:56:14 GMT

@Anonymous wrote:
@Horseshoez wrote:
@FreedomHammer wrote:
What is the money laundering thing? I've had the account three months (still no upgrade) and make a payment once a week or so and they don't seem to mind.

Lucky you; when I made them once a week they'd hold the money for up to 12 days. Numerous calls to customer service yielded bewildered reps who could only say, "We need to make sure they money you sent us will actually be paid." Yeah, I sent the money via online bill-pay from my bank, they wouldn't even know about payment unless they'd already gotten the money.

I work in the financial industry (not banking or credit), and did some research and triggering AML will definitely cause funds to be held to confirm the source of the money is "clean". Was CapOne triggering some sort of an AML protocol? That's my guess as so far at least, that is the best explanation.
For some reason push payments seem to make banks more twitchy than pull payments do. I never had a problem with the frequency I was paying my Capital One card with pull payments and there were times I would be paying it twice a week when I only had a $500 limit to use. More than a few times now I have heard about banks putting a hold on money that was pushed though so the only bank I push to is Synchrony.

Color me confused; why a second push payment in a month would be sneered at while the first push payment was welcomed with open arms and immediately posted to my account boggles my mind. In the end it all worked out for me as I was effectively able to upgrade from a $1,000 CL secured CapOne Platinum card to a $3,000 CL unsecured CapOne Quicksilver card.

Re: Cap1 No upgrade

Anonymous — Sun, 07 Mar 2021 04:40:47 GMT

@Horseshoez wrote:
@Anonymous wrote:
@Horseshoez wrote:
@FreedomHammer wrote:
What is the money laundering thing? I've had the account three months (still no upgrade) and make a payment once a week or so and they don't seem to mind.

Lucky you; when I made them once a week they'd hold the money for up to 12 days. Numerous calls to customer service yielded bewildered reps who could only say, "We need to make sure they money you sent us will actually be paid." Yeah, I sent the money via online bill-pay from my bank, they wouldn't even know about payment unless they'd already gotten the money.

I work in the financial industry (not banking or credit), and did some research and triggering AML will definitely cause funds to be held to confirm the source of the money is "clean". Was CapOne triggering some sort of an AML protocol? That's my guess as so far at least, that is the best explanation.
For some reason push payments seem to make banks more twitchy than pull payments do. I never had a problem with the frequency I was paying my Capital One card with pull payments and there were times I would be paying it twice a week when I only had a $500 limit to use. More than a few times now I have heard about banks putting a hold on money that was pushed though so the only bank I push to is Synchrony.
Color me confused; why a second push payment in a month would be sneered at while the first push payment was welcomed with open arms and immediately posted to my account boggles my mind. In the end it all worked out for me as I was effectively able to upgrade from a $1,000 CL secured CapOne Platinum card to a $3,000 CL unsecured CapOne Quicksilver card.

I don't know why it makes them twitchy but it's far from the first time I have heard about people pushing payments multiple times in a month and ending up with a hold. It happens with pull payments too at times but seems to be much more commonly complained about with push.