topic Re: Capital One: Platinum to No-Hassle Rewards? in Credit Cards

Capital One: Platinum to No-Hassle Rewards?

CreditCrusader — Wed, 02 Nov 2011 17:01:29 GMT

Apologies if this has already been asked and answered, but I'm wondering if anyone has any info or experience upgrading their Cap1 Platinum card to a No-Hassle Rewards card. I'd love rewards for buying gas and groceries..and that is about 99% of what I already use the current card for.

Thanks in advance for all input!

Oh, current limit: $750 (was $500, $250 CLI after 6 months...had card for a year tomorrow)

Re: Capital One: Platinum to No-Hassle Rewards?

Anonymous — Wed, 02 Nov 2011 17:35:21 GMT

I've asked them about the exact same thing, and was told that I need to have an 'offer' available on my account for them to be able to do any product changes. And then got the usual "Capital One will periodically review your account" line again.

Considering the way Cap One operates, I doubt they'll ever actually be willing to change the card over. Since they won't unsecure cards, and they'll leave you stuck with low-limit cards that cannot grow above a certain CL (no matter how good your credit is), I'm pretty sure they just want you to apply for a rewards card if you want one.

That's basically what the rep told me the second time I asked, he said I should just apply for the rewards card if I want it and if I get approved, close my current one. I was like yeah thanks, but no thanks, not worth another 3 HPs.

Re: Capital One: Platinum to No-Hassle Rewards?

CreditCrusader — Wed, 02 Nov 2011 17:44:47 GMT

I'm pretty sure they just want you to apply for a rewards card if you want one.

I tried that several months ago...got denied (no pulls...hmmm...)...reason being I "have too many Cap1 accounts already".

Huh? I have one Cap1 card...and they had just given me a $250 CLI. These people are nuts!

Re: Capital One: Platinum to No-Hassle Rewards?

Anonymous — Wed, 02 Nov 2011 21:36:16 GMT

google search "Cap1 Classic Adds Rewards (not an offer)"

It's a recent discussion where someone said some platinum accounts were product changed to a rewards card. True, the people who read that first post in that discussion who called did not have the same luck. But that first post gives me hope that a product change might some day happen for me.

Re: Capital One: Platinum to No-Hassle Rewards?

notmyj — Wed, 02 Nov 2011 23:08:34 GMT

I don't believe the blanket statement that cap one will never grow or do a product change. I think that sentiment comes from people who got a lesser card to start with. I have never heard of a secured card going anywhere more than a small unsecured limit increase. It would also seem that unsecured cards that were in the credit steps program don't really go anywhere either execpt for topping out around $1000 +/- a couple hundred. However my cap one card was undecided, started at $500 and was not in the credit steps program has grown grown from $500 to $2250 in 15 months. As for a product change, I am willing to bet that the same is true. Credit step cards and secured cards will not be eligible for product changes as they were not designed to be. They were designed to build or rebuild credit therefore they will not go to very high limits or change into prime cards like the venture or no hassle rewards cards. I believe there is a corrolation between the beggining credit limit and if there is a ceiling with the card. I.E. limit under 500, not going to grow or be able to change product. Initial limit of 500 or up, will grow significantly and be eligible for product change. Also beloved that product changes and auto CLI's outside of the credit steps program are based on credit scores. If you still have the same 606 score you had when you got the card, don't expect a 3k limit or a venture card. But if you started with 500 limit, and scores have gone up and no baddies reported, I would expect the limits to increase and eventually see an offer to upgrade the card. I have no research to back up this theory. It simply the ramblings of a guy on lunch break who has seen sizable limit increases on my cap one plat card. Feel free to point out why I am wrong or why the theory holds no water, like I said, it has no research, just a thought. But the truth is some cap one cards do grow. Some don't. Also, sorry for any typos, I'm on my phone.

Re: Capital One: Platinum to No-Hassle Rewards?

CreditCrusader — Wed, 02 Nov 2011 23:23:08 GMT

@notmyj wrote:
I don't believe the blanket statement that cap one will never grow or do a product change. I think that sentiment comes from people who got a lesser card to start with. I have never heard of a secured card going anywhere more than a small unsecured limit increase. It would also seem that unsecured cards that were in the credit steps program don't really go anywhere either execpt for topping out around $1000 +/- a couple hundred. However my cap one card was undecided, started at $500 and was not in the credit steps program has grown grown from $500 to $2250 in 15 months. As for a product change, I am willing to bet that the same is true. Credit step cards and secured cards will not be eligible for product changes as they were not designed to be. They were designed to build or rebuild credit therefore they will not go to very high limits or change into prime cards like the venture or no hassle rewards cards. I believe there is a corrolation between the beggining credit limit and if there is a ceiling with the card. I.E. limit under 500, not going to grow or be able to change product. Initial limit of 500 or up, will grow significantly and be eligible for product change. Also beloved that product changes and auto CLI's outside of the credit steps program are based on credit scores. If you still have the same 606 score you had when you got the card, don't expect a 3k limit or a venture card. But if you started with 500 limit, and scores have gone up and no baddies reported, I would expect the limits to increase and eventually see an offer to upgrade the card. I have no research to back up this theory. It simply the ramblings of a guy on lunch break who has seen sizable limit increases on my cap one plat card. Feel free to point out why I am wrong or why the theory holds no water, like I said, it has no research, just a thought. But the truth is some cap one cards do grow. Some don't. Also, sorry for any typos, I'm on my phone.

Here's the flaw in your logic: I began with a Cap1 Platinum and a $500 limit...it grew to $750...and my credit score has similarly grown from 574 at the time of original approval to what you see in the sig line. My income has also nearly doubled during the same span.

These people will give me NOTHING more than what I have...even though the No-Hassle Rewards and Platinum cards are built for a person of the same credit profile according to their own website.

...and when I try to apply for a rewards card, they tell me that I have too many (1) Cap1 cards...nothing about credit score or baddies...just the same canned reason.

The truth is, they do not grow with MOST of their customers. Cap1 had a chance to grow and benefit from my improving credit and they are basically telling me they don't want my business once I am in Primeville..and that's fine...that's their choice.

Re: Capital One: Platinum to No-Hassle Rewards?

notmyj — Wed, 02 Nov 2011 23:36:51 GMT

Are you sure your card is not in the credit steps program? The $250 CLI AT 6 months in right in line with the credit steps program. If you are in the steps program and just not aware of it, then it would reenforce my theory. How ever if your not, you may see a sizable increase in the near future. I saw my first one when I called right around 6 months to 750 then didn't see (nor try) for a increase until the 15 month mark when I got an auto increase from 750 to 2250.

Re: Capital One: Platinum to No-Hassle Rewards?

CreditCrusader — Wed, 02 Nov 2011 23:44:13 GMT

@notmyj wrote:
Are you sure your card is not in the credit steps program? The $250 CLI AT 6 months in right in line with the credit steps program. If you are in the steps program and just not aware of it, then it would reenforce my theory. How ever if your not, you may see a sizable increase in the near future. I saw my first one when I called right around 6 months to 750 then didn't see (nor try) for a increase until the 15 month mark when I got an auto increase from 750 to 2250.

If I am, I was not aware of it i.e. they didn't promise any increases out of the gate after 6 months. I have seen a few large bumps like the one you reference during that timeframe mentioned here, so maybe I just need to be a little patient with them

Re: Capital One: Platinum to No-Hassle Rewards?

Anonymous — Thu, 03 Nov 2011 00:40:37 GMT

I didn't know I was on credit steps until I checked my messages at their website. Allegedly you go to the 'my features' tab and from what I understand you can get offers for product changes there. I've never seen anything but I've heard that people have. There really isn't much middle ground at Capone. They generally don't try to grow with you. Really...there isn't much incentive for them to get you on a card with a decent interest rate...no AF...and real customer service.

Re: Capital One: Platinum to No-Hassle Rewards?

mAndrew1980 — Thu, 03 Nov 2011 01:00:39 GMT

My Cap1 platinum started out at 300 and is now at 500. I've had it for 9 months with good payment history. I'm not going to ask for a CLI and I'm certainly not expecting it. My goal is to build my score up enough to get prime cards. The relationship between Cap1 and rebuilders is typically win/win. They get us on high interest rates and AF's and we get a chance to secure a positive line of credit. Most times, if the relationship continues to grow, it's usually in a different form (ie app'ing a Venture card and moving in a different direction).

I really can't complain about Cap1. They gave me an unsecured card when I couldn't get fronted a stick of bubble gum from anyone else.

Re: Capital One: Platinum to No-Hassle Rewards?

Anonymous — Thu, 03 Nov 2011 01:26:07 GMT

The credit steps notifcation was actually in the documents tab on the website...not messages. My bad.

Re: Capital One: Platinum to No-Hassle Rewards?

CreditCrusader — Thu, 03 Nov 2011 01:40:05 GMT

@Anonymous wrote:
The credit steps notifcation was actually in the documents tab on the website...not messages. My bad.

Yep...there it was...I was on the steps program after all...and it said $750 was my limit. Does that mean I won't increase beyond that limit?

Re: Capital One: Platinum to No-Hassle Rewards?

Anonymous — Thu, 03 Nov 2011 01:53:03 GMT

Yea, I don't know why they hide it there. Mine was the same. Just to $750. But then on my last statement they increase by another 500 to bring it to 1250. It wasn't a credit step increase. Just part of the increase that they seem to be giving some folks.

It can move from $750...but we are on the automated system that no one (including CapOne CSR) seem to know much about.

Re: Capital One: Platinum to No-Hassle Rewards?

Karunch — Thu, 03 Nov 2011 06:37:23 GMT

I had a Cap One Platinum MasterCard for 2 1/2 years that has been stuck at $2,000 CL for a while. Back in July I called and spoke to an account specialist trying to see if I could get a CLI. They of course couldn't give me a CLI, but they offered to upgrade my Platinum MasterCard to the No Hassle Rewards card. I now get 1% cashback on everything, and then 2% cashback on groceries and gas.

Re: Capital One: Platinum to No-Hassle Rewards?

ds4365 — Sat, 05 May 2012 18:43:17 GMT

You are actually entirely correct. I had two Capital One cards for several years, both in the credit steps program. I did not know at the time Capital One solicited me that the credit steps program meant a ceiling or cap when reached. It does mean that unless you are upgraded at some point. After five years I decided to close mu 500 dollar credit limit card because it was going nowhere and I was always being told that it was not eleigible for any increase. I got tired of hearing it and knew the card would never grow with me. I closed the one card and decided to leave the other one open (1500 limit) for a short time thinking capital one might get the hint. When asked why I was closing it, I simply said that 5 years perfect history with them and no auto cli does not support 780 scores and above with several of my other card limits above 10,000 dollars and one at 20,000. I also told them if this other card sits stagnate like the first one did, I will close it too and I won't wait 5 years to do it. Two weeks ago Capital one wrote me and offered me an upgrade to a No Hassle Rewards card, WITH NO RE-APPLYING OR ANYTHING. No hard or Soft Pulls. Just accept it or decline it. I did so thinking that now ...maybe.....hopefully they will auto cli me from this point forward because this card supposedly is prime and no credit steps involved. I think they did get the Hint, because I must have pushed their Modify your features Button on their Website twice a week for a year, and then finally closed one of their cards. It can happen. A credit step card can be upgraded with Capital One, but I think it has to come from them and not customer initiated. Of course letting them know that they are about to lose your business might help too. This second card was four years old....younger than my first but the step program had a higher ceiling cap so I kept it. So keep your accounts spotless and I believe it can be acheived.