topic Re: Capital One QS upgrade offer in Credit Cards

Capital One QS upgrade offer

raisemysc0re — Fri, 03 Dec 2021 02:59:44 GMT

Just received an email for an offer to upgrade my QS card. Clicked on the link and it is offering the VentureX, Venture, or Venture One cards.

I don't travel much and I'm definitely not into paying an AF unless it is warranted so the only one of these I'd even consider is the Venture One.

I'm considering because I'd at least have one travel card in my arsenal and I hardly use the QS card now.

When looking at the comparison of the V1 to my current QS I notice that the CL stays the same at 11K and the rewards change accordingly but the APR is showing 0% for both?

Is that because I'm currently in a 0% promotion or do I get the full 15mo 0% when upgrading? Wish it would tell me if the permanent APR of my QS (12.99%) would be lowered when upgrading.

Also, I would assume I don't get any SUB when upgrading?

Re: Capital One QS upgrade offer

OmarGB9 — Fri, 03 Dec 2021 03:48:27 GMT

I haven't been in your situation, but I'm assuming it's showing 0% because you're currently in a 0% promo, but I highly doubt you'd get another 15 months as if it was a new account. That's generally reserved for first time cardholders to entice them to apply. It should tell you your APR when you upgrade, but I also doubt that would go down, especially when it's already so low. And correct, you wouldn't get a SUB since you're not signing up for a new account.

One more (personal) opinion: the V1 is a weak travel card, as it only earns 1.25 miles/dollar, which isn't even a direct 1.25 dollar conversion. The higher 5 miles/dollar earning rate is only if you book travel directly through the Capital One Travel portal. Regular travel spend would only net the standard 1.25 miles/dollar rate.

Re: Capital One QS upgrade offer

FinStar — Fri, 03 Dec 2021 03:56:04 GMT

@raisemysc0re wrote:
Just received an email for an offer to upgrade my QS card. Clicked on the link and it is offering the VentureX, Venture, or Venture One cards.
I don't travel much and I'm definitely not into paying an AF unless it is warranted so the only one of these I'd even consider is the Venture One.
I'm considering because I'd at least have one travel card in my arsenal and I hardly use the QS card now.
When looking at the comparison of the V1 to my current QS I notice that the CL stays the same at 11K and the rewards change accordingly but the APR is showing 0% for both?
Is that because I'm currently in a 0% promotion or do I get the full 15mo 0% when upgrading? Wish it would tell me if the permanent APR of my QS (12.99%) would be lowered when upgrading.
Also, I would assume I don't get any SUB when upgrading?

Correct, the APR you see is based on your current promotion (as applicable). You would not get any extended or new 15-month 0% APR.

Typically, no changes will happen with your standard APR unless there is a disclosure that specifically states your standard APR will be lower than your existing one based on account review or performance.

No SUB with the upgrade. All that changes is the face of the card and the rewards structure.

Re: Capital One QS upgrade offer

MrDisco99 — Fri, 03 Dec 2021 04:57:01 GMT

The VentureOne doesn't really make much sense as a travel rewards card... unless you just really like the Capital One Travel Portal.

Otherwise it's just a 1.25% cash back card, which is less than the 1.5% you're getting with the QS, and can only be used towards travel purchase as opposed to anything on the QS.

Switching from the QS to the V1 doesn't seem to make much sense to me.

Re: Capital One QS upgrade offer

raisemysc0re — Fri, 03 Dec 2021 05:06:48 GMT

I came to the same conclusion.

I think this is why I closed my other QS card that they CLD'ed from 14K downb to 5K during the pandemic.

I would just close this one to if it weren't one of my oldest cards.

CapOne is kinda useless...

Re: Capital One QS upgrade offer

FinStar — Fri, 03 Dec 2021 07:07:08 GMT

@raisemysc0re wrote:
I came to the same conclusion.
I think this is why I closed my other QS card that they CLD'ed from 14K downb to 5K during the pandemic.
I would just close this one to if it weren't one of my oldest cards.
CapOne is kinda useless...

AAoA is not impacted for a good portion of ~10 years, so if you were to close it, it'll still be factored into that metric (until it drops off). Otherwise, if you think Capital One (or this particular card) is useless and your other [closed] Capital One QS was given a CLD, are you going to be able to sustain it long term and potentially face the same outcome? 🤷‍♂️

Re: Capital One QS upgrade offer

raisemysc0re — Fri, 03 Dec 2021 14:18:17 GMT

I only use this card for my EZ-Pass payment which is about $60 every 5-6 weeks.

Enough to keep it open but not be a burden to maintain.

I'll keep it open unless they CLD it or piss me off in some other way.

I am grateful since they did give me a good rebuilding foundation but that's all they seem to be good for.

I guess I'm more or less in the camp of "What WAS in your wallet?"...

Re: Capital One QS upgrade offer

notmyrealname23 — Fri, 03 Dec 2021 16:14:23 GMT

I get great value out of C1 transfers (and credit card program transfers for miles and points overall) but if you think travel on an airplane isn't useful for your needs, hard to argue with that.

1.25 miles per dollar can EASILY be with more than 1.5 cents per dollar in value. But if cash is king for your needs I wouldn't switch.

To give you an example of how it works for me: I literally set fire to my chances of getting a VentureX bonus (since C1 bounced me, but I had a QS I could PC) because I can generate about $70 a month in value off the card in minimal effort spend, which is double what I would get on a 2% no AF cashback card, at an effective cost of $95 in Year 1, because I would spend $300 on travel the portal rebate gives me anyway, and after year 1 using the $300 in portal rebate + 10k in annual points is positive cash value versus annual fee while still generating that $70 a month.

That being said, it's certainly a YMMV thing.