topic Think I can upgrade to a Cap 1 Venture Card? in Credit Cards

Think I can upgrade to a Cap 1 Venture Card?

masscredit — Sat, 15 Nov 2014 03:46:48 GMT

I have two Cap 1 cards. It's time for me to contact them to see about getting a CLI on the card that doesn't get rewards. My Rewads card went from $4500. to $6k earlier this year so I think I should be able to do the same with my other card. I'm also going to ask about getting that card upgraded to a Venture Card. They have two avaialble and both are listed for excellant credit. When I view their requirements it says -

These are only guidelines to help you narrow your selection, and additional factors from your application and credit history will also be considered. You may meet these criteria and still be declined. Please review the product disclosures on the card application for additional information about eligibility.

Excellent Credit
Do BOTH of these describe you?
I have never declared bankruptcy or defaulted on a loan. I have not been more than 60 days late on any credit card, medical bill, or loan in the last year.

- AND -
I have had a loan or credit card for 3 years or more with a credit limit above $5,000

Average Credit
Do EITHER of these describe you?
I have defaulted on a loan in the past 5 years

- OR -
I have limited credit history. I've had my own credit card or other credit for less than 3 years (including students, people new to the U.S., or authorized users on someone else's credit card).

I don't fall into what they consider average credit and I'm not totally what they consider excellant credit. I have a BK that was discharged at the beginning of 2010. Everything else is older. Current credit lines and scores are in my signiture. Do you think I might be able to convert over to this one?

Re: Think I can upgrade to a Cap 1 Venture Card?

Burned2manybridgesB4 — Sat, 15 Nov 2014 04:10:29 GMT

Good luck. They wouldn't give me the time of day for V1 to V2, with lame reasons that fit a profile I had many years ago with their AF cash rewards green, like they never forgot where I came from. Then again, I spout off at them on their FB page all the time about how they suck, so I'm sure I'm flagged.

Re: Think I can upgrade to a Cap 1 Venture Card?

MarineVietVet — Sat, 15 Nov 2014 05:18:39 GMT

One of the requirements:

..."I have never declared bankruptcy or defaulted on a loan".

The word never would rule outs lots of people including me.

Re: Think I can upgrade to a Cap 1 Venture Card?

Burned2manybridgesB4 — Sat, 15 Nov 2014 05:38:23 GMT

@MarineVietVet wrote:
One of the requirements:

..."I have never declared bankruptcy or defaulted on a loan".

The word never would rule outs lots of people including me.

If you want a good laugh, go read the comments posted to their FB page, about the AF $300-500 version group complaining about the 1.5% card, in comparison to Citi's 2%, and why Cap's not doing the same.

Re: Think I can upgrade to a Cap 1 Venture Card?

Anonymous — Sat, 15 Nov 2014 07:10:34 GMT

you should be able to, since you're just changing rewards structure. "no hassle rewards" as they call it. I was able to change my quicksilver one to venture one. and I'm nowhere near "excellent credit". Let's face it, not many people with excellent credit will apply for capital one.

Re: Think I can upgrade to a Cap 1 Venture Card?

Membersince2013 — Sat, 15 Nov 2014 12:29:04 GMT

They won't let you PC to the Venture card, but it doesnt hurt to try. I just had to app for it. I'm actually happy i wasn't allowed to PC to it. I would have missed out on the signup bonus.

Re: Think I can upgrade to a Cap 1 Venture Card?

Anonymous — Sat, 15 Nov 2014 13:51:20 GMT

@Membersince2013 wrote:
They won't let you PC to the Venture card, but it doesnt hurt to try. I just had to app for it. I'm actually happy i wasn't allowed to PC to it. I would have missed out on the signup bonus.

+1 I tried with EO and they just wouldnt budge..

Re: Think I can upgrade to a Cap 1 Venture Card?

Anonymous — Sat, 15 Nov 2014 14:22:33 GMT

When I applied I had scores similar to yours along with a tax lien and one collection.

Re: Think I can upgrade to a Cap 1 Venture Card?

Anonymous — Sat, 15 Nov 2014 14:24:28 GMT

Honestly, there are so many better cards out there as opposed to the Venture card.. Granted, if you're hell bent on staying with Cap one then try for it.. but, if you can "venture" out (Pun intended!) then i would look elsewhere

Re: Think I can upgrade to a Cap 1 Venture Card?

Membersince2013 — Sat, 15 Nov 2014 14:32:36 GMT

Better cards with an AF as low as the Venture?...

Re: Think I can upgrade to a Cap 1 Venture Card?

Anonymous — Sat, 15 Nov 2014 14:34:52 GMT

@Membersince2013 wrote:
Better cards with an AF as low as the Venture?...

Absolutely.. Double cash.. Fidelity Amex..

Re: Think I can upgrade to a Cap 1 Venture Card?

Anonymous — Sat, 15 Nov 2014 14:36:37 GMT

@masscredit wrote:
I have two Cap 1 cards. It's time for me to contact them to see about getting a CLI on the card that doesn't get rewards. My Rewads card went from $4500. to $6k earlier this year so I think I should be able to do the same with my other card. I'm also going to ask about getting that card upgraded to a Venture Card. They have two avaialble and both are listed for excellant credit. When I view their requirements it says -

These are only guidelines to help you narrow your selection, and additional factors from your application and credit history will also be considered. You may meet these criteria and still be declined. Please review the product disclosures on the card application for additional information about eligibility.

Excellent Credit
Do BOTH of these describe you?
I have never declared bankruptcy or defaulted on a loan. I have not been more than 60 days late on any credit card, medical bill, or loan in the last year.

- AND -
I have had a loan or credit card for 3 years or more with a credit limit above $5,000

Average Credit
Do EITHER of these describe you?
I have defaulted on a loan in the past 5 years

- OR -
I have limited credit history. I've had my own credit card or other credit for less than 3 years (including students, people new to the U.S., or authorized users on someone else's credit card).

I don't fall into what they consider average credit and I'm not totally what they consider excellant credit. I have a BK that was discharged at the beginning of 2010. Everything else is older. Current credit lines and scores are in my signiture. Do you think I might be able to convert over to this one?

Also, your scores wouldnt qualify you for the Venture cards.. Although they are Cap one cards, they are on the cusp of Prime and some would say they are indeed prime cards, which i see.. So, your scores must come up if you want a shot at a venture card

Re: Think I can upgrade to a Cap 1 Venture Card?

Membersince2013 — Sat, 15 Nov 2014 14:48:15 GMT

@Anonymous wrote:
@Membersince2013 wrote:
Better cards with an AF as low as the Venture?...
Absolutely.. Double cash.. Fidelity Amex..

Very much true! I'm hoping to add the Fidelity Amex to my wallet in the near future. I already have the DC and i THOUGHT i was approved for the Fidelity Amex, but FIA is a joke.

Re: Think I can upgrade to a Cap 1 Venture Card?

Anonymous — Sat, 15 Nov 2014 14:52:21 GMT

@Anonymous wrote:
@masscredit wrote:
I have two Cap 1 cards. It's time for me to contact them to see about getting a CLI on the card that doesn't get rewards. My Rewads card went from $4500. to $6k earlier this year so I think I should be able to do the same with my other card. I'm also going to ask about getting that card upgraded to a Venture Card. They have two avaialble and both are listed for excellant credit. When I view their requirements it says -

These are only guidelines to help you narrow your selection, and additional factors from your application and credit history will also be considered. You may meet these criteria and still be declined. Please review the product disclosures on the card application for additional information about eligibility.

Excellent Credit
Do BOTH of these describe you?
I have never declared bankruptcy or defaulted on a loan. I have not been more than 60 days late on any credit card, medical bill, or loan in the last year.

- AND -
I have had a loan or credit card for 3 years or more with a credit limit above $5,000

Average Credit
Do EITHER of these describe you?
I have defaulted on a loan in the past 5 years

- OR -
I have limited credit history. I've had my own credit card or other credit for less than 3 years (including students, people new to the U.S., or authorized users on someone else's credit card).

I don't fall into what they consider average credit and I'm not totally what they consider excellant credit. I have a BK that was discharged at the beginning of 2010. Everything else is older. Current credit lines and scores are in my signiture. Do you think I might be able to convert over to this one?
Also, your scores wouldnt qualify you for the Venture cards.. Although they are Cap one cards, they are on the cusp of Prime and some would say they are indeed prime cards, which i see.. So, your scores must come up if you want a shot at a venture card

I'm not so sure you're right about him not qualifying. I got mine with scores right around his. Now I don't know the rest of his credit picture but I had a tax lien and collection at the time as well..

Re: Think I can upgrade to a Cap 1 Venture Card?

masscredit — Sat, 15 Nov 2014 14:59:38 GMT

I know there are some better miles rewards cards available but I don't want any new inquiries. I figure I'm already in with them so it wouldn't hurt to ask while I was going over some other things with the EO office. Or, I can ask if they have any rewards cards that this one can be PCed to. Maybe their Quicksiver?

This and my other Cap 1 card has a membership fee (one is $59. and the other is $39). These are the only cards that I have with membership fees so I want to see if they can be permanently waived.

Re: Think I can upgrade to a Cap 1 Venture Card?

Membersince2013 — Sat, 15 Nov 2014 15:09:47 GMT

@masscredit wrote:
I know there are some better miles rewards cards available but I don't want any new inquiries. I figure I'm already in with them so it wouldn't hurt to ask while I was going over some other things with the EO office. Or, I can ask if they have any rewards cards that this one can be PCed to. Maybe their Quicksiver?

This and my other Cap 1 card has a membership fee (one is $59. and the other is $39). These are the only cards that I have with membership fees so I want to see if they can be permanently waived.

They will gladly PC you to a Quicksilver.

Re: Think I can upgrade to a Cap 1 Venture Card?

masscredit — Sat, 15 Nov 2014 15:19:41 GMT

@Membersince2013 wrote:
@masscredit wrote:
I know there are some better miles rewards cards available but I don't want any new inquiries. I figure I'm already in with them so it wouldn't hurt to ask while I was going over some other things with the EO office. Or, I can ask if they have any rewards cards that this one can be PCed to. Maybe their Quicksiver?

This and my other Cap 1 card has a membership fee (one is $59. and the other is $39). These are the only cards that I have with membership fees so I want to see if they can be permanently waived.

They will gladly PC you to a Quicksilver.

I asked about that through chat a few months ago but was told that they couldn't. Time to talk to the EO about that.

Re: Think I can upgrade to a Cap 1 Venture Card?

Anonymous — Sat, 15 Nov 2014 15:38:42 GMT

let me guess, the 59 annual fee card is from some other bank that capital one bought? if it is, then they probably won't let you pc it into another card.

Re: Think I can upgrade to a Cap 1 Venture Card?

masscredit — Sat, 15 Nov 2014 16:38:49 GMT

@Anonymous wrote:
let me guess, the 59 annual fee card is from some other bank that capital one bought? if it is, then they probably won't let you pc it into another card.

You got it! I forget the name of the bank that held the card. It was converted over to Cap 1 last Summer.

Re: Think I can upgrade to a Cap 1 Venture Card?

Broke_Triathlete — Sun, 16 Nov 2014 02:41:07 GMT

@Membersince2013 wrote:
They won't let you PC to the Venture card, but it doesnt hurt to try. I just had to app for it. I'm actually happy i wasn't allowed to PC to it. I would have missed out on the signup bonus.

That's not completely true. I PC'd my platinum to Venture One 2 months after opening the account.