Anyone ever convert one card for another?

[ztnjpv]

Any experiences? Which company? What exactly did you convert from and to? 

I'm looking into trying this with Capital One and I am not sure what their policies are on this. I'd prefer to convert my boring and pointless Cap One Platinum to a rewards card like the Spark than simply apply for the Spark. One obvious advantage is that I don't change the "age" average of my open accounts. Beyond that, with a Cap One spark in hand (along with my other rewards card), I'll never use the Platinum again and will pay an annual fee for a card I don't use.

[Anonymous]

my experiance with CAP one PC is none....they always tell me to reapply .....maybe some others have had luck but not myself coming from a CAP one platinum card...great payment history for 6 yrs......

I guess that why that is a rebuilder card....

[LS2982]

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@ztnjpv wrote:

Any experiences? Which company? What exactly did you convert from and to? 

I'm looking into trying this with Capital One and I am not sure what their policies are on this. I'd prefer to convert my boring and pointless Cap One Platinum to a rewards card like the Spark than simply apply for the Spark. One obvious advantage is that I don't change the "age" average of my open accounts. Beyond that, with a Cap One spark in hand (along with my other rewards card), I'll never use the Platinum again and will pay an annual fee for a card I don't use.

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Slim to none you'll get a PC out of Cap1. They very rarely do it. Also your going from an average or rebuilder credit product to a excellent credit product and I haven't heard anyone getting that before.

[lithium78]

I converted my BoA Cash Rewards card from a flat 1% rewards card to a 123 Cash Rewards card after six months of use.  BoA had no problem with that, since I had put a lot of money through that card and PIF.  Capital One, on the other hand, has refused to PC my Platinum card or even give me a CLI in over two years.

[ztnjpv]

I converted my BoA Cash Rewards card from a flat 1% rewards card to a 123 Cash Rewards card after six months of use.  BoA had no problem with that, since I had put a lot of money through that card and PIF.  Capital One, on the other hand, has refused to PC my Platinum card or even give me a CLI in over two years.

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Well, that's pretty discouraging. I've had the card for almost 6 months. I figured the 6 month mark was a good time to inquire. I've used the card a lot and always pay it in full every month. My scores are all in the lower 700s now and I was hoping those factors along with wanting a better card with a higher fee and better income potential (for them) would make them more amicable to the idea. I guess not

[ztnjpv]

Slim to none you'll get a PC out of Cap1. They very rarely do it. Also your going from an average or rebuilder credit product to a excellent credit product and I haven't heard anyone getting that before.

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Not that I don't believe you but I have a hard time understanding what Cap One stands to gain by NOT allowing the conversion from a starter/builder card to a prime card. If the customer's scores show they are now eligible, what's the benefit in forcing them to keep (or simply close) a low end card that doesn't suit them anymore? What do they get out of it?

Well, OTOH, I suppose that since the card is only 6 months old, there isn't much for me to lose in closing it. It may be my oldest card but it's still not that old. 

[pizzadude]

There's really no way to understand the nuances of how Cap1 makes these decisions.   But it is very likely that you won't be able to do a PC as many have posted, they would just rather have you apply for another card.

[LS2982]

@pizzadude I agree there's no way to tell what criteria or what cards eligible for PC. It seems like their prime cards are the only PC available ones.

[Anonymous]

This is an oldie but a goodie...A must read for anyone doing business with Cap One (purely to educate yourself so you don't become duped by their low credit limit trap):

http://www.businessweek.com/magazine/content/06_45/b4008048.htm

Kind of confirms why they want you to apply instead of doing a PC.

[emptypockets]

I have a Cap 1 Platinum Visa open since 2006, CL is 3k. I tried recently ( within last 2 weeks) to get it converted to another product (green cash rewards) or any other rewards card, and ey said my account was not eligible for this, but they said I could reapply. Also tried to combine this card with my No hassle cash rewards card (opened last time they told me to reapply (9/10)... And I got a lousy credit step 500 limit, which is now 750. They said they do not combine cards. Needless to say, the No Hassle cash rewards will be history before AF hits, and the Platinum will likey be history as well as soon as the balance is zeroed out.