cancel
Showing results for 
Search instead for 
Did you mean: 

Capital 1 question.

Highlighted
Established Member

Capital 1 question.

I have their platinum and the QS1, I checked the upgrade link and they won't offer me an upgrade on the QS1 but they want to upgrade my platinum to a regular QS should I take this or hold out for a venture/savor option? I already have other cashback cards.





Message 1 of 18
17 REPLIES 17
Highlighted
Super Contributor

Re: Capital 1 question.


@llarrswsind wrote:

I have their platinum and the QS1, I checked the upgrade link and they won't offer me an upgrade on the QS1 but they want to upgrade my platinum to a regular QS should I take this or hold out for a venture/savor option? I already have other cashback cards.


QS1 typically is the most difficult to upgrade.

 

As for your Platinum PC to QS, even though it might be redundant to your other cards, it's worth getting rewards on your non rewards card.

Message 2 of 18
Highlighted
Super Contributor

Re: Capital 1 question.

PCing to Savor or Venture seldom makes sense, anyway. Their value is in the SUBs which PCs don't get. After that you're earning mediocre rewards once adjusting for the AF.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, Freedom x 2, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCP, EDP
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 3 of 18
Highlighted
Established Member

Re: Capital 1 question.

Unless it's your oldest card, I would upgrade your Platituim to the regular QS and cancel the QS1. 

 

Same card without the yearly fee....

Message 4 of 18
Highlighted
Super Contributor

Re: Capital 1 question.


@Yankee2 wrote:

Unless it's your oldest card, I would upgrade your Platituim to the regular QS and cancel the QS1. 

 

Same card without the yearly fee....



@Yankee2 wrote:

Unless it's your oldest card, I would upgrade your Platituim to the regular QS and cancel the QS1. 

 

Same card without the yearly fee....


If you have other cards that beat out the QS1. C-Ya! Been there done that. See below. We all had to start somewhere. RIP.





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 5 of 18
Highlighted
New Member

Re: Capital 1 question.

So I was in this exact scenario. I clicked an upgrade link, and thought I was upgrading my QS1 card to a QS, but it actually upgraded my Platinum instead. I'd like to do the Venture or VentureOne card, but they told me over the phone I couldn't upgrade my QS1 at this time.

 

I'm wondering, if they are less likely to upgrade my QS1, if it'd be better to just cancel it and apply for a Venture/VentureOne? I'd get the signup bonus that way, which would be nice. 

 

I've had the QS1 for a little over a year now, and the Platinum (now QS) for 1.5 years. And then I have a Discover It card that's my oldest at 4 years. I had other cards, and good credit before that, but was young and uninformed and messed everything up haha. The road to recovery from bad credit has been long.


Anyway, first post here, I've already learned a lot from reading. Thanks!

Message 6 of 18
Highlighted
Regular Contributor

Re: Capital 1 question.

From my understanding you can upgrade to the Venture cards but cannot upgrade a plat or QS to the Savor. If anyone knows differently correct me on that 




Message 7 of 18
Highlighted
Valued Contributor

Re: Capital 1 question.


@Kenobi wrote:

So I was in this exact scenario. I clicked an upgrade link, and thought I was upgrading my QS1 card to a QS, but it actually upgraded my Platinum instead. I'd like to do the Venture or VentureOne card, but they told me over the phone I couldn't upgrade my QS1 at this time.

 

I'm wondering, if they are less likely to upgrade my QS1, if it'd be better to just cancel it and apply for a Venture/VentureOne? I'd get the signup bonus that way, which would be nice. 

 

I've had the QS1 for a little over a year now, and the Platinum (now QS) for 1.5 years. And then I have a Discover It card that's my oldest at 4 years. I had other cards, and good credit before that, but was young and uninformed and messed everything up haha. The road to recovery from bad credit has been long.


Anyway, first post here, I've already learned a lot from reading. Thanks!


Welcome to My Fico Forums, @Kenobi

Yes, you may be better off canceling that old QS1 since it may not go anywhere. 

I started my Capital One relationship with a Platinum card that I pc'd to a Quicksilver after they introduced it later.   I have the option for pc-ing the Quicksilver now to Venture many years later, but I don't really want or need the card.



Updated 07/20/2020
Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 27+ years;
AAoA = 8+ years; AoYA = less than 1 year (July 2020)
Total Open Credit Lines Over $521K. Utilization Less Than 1%.
Inquiries until Nov 2020 (TU:3 -- EQ:4 -- EX:8)
New Accounts: 3/6 months; 9/12 months; 12/24 months (as of 07/20/20)
Gardening until at least 04/2021.
*Hover cursor over each card to see name & CL, or press & hold on mobile app.
Message 8 of 18
Highlighted
Valued Contributor

Re: Capital 1 question.


@llarrswsind wrote:

I have their platinum and the QS1, I checked the upgrade link and they won't offer me an upgrade on the QS1 but they want to upgrade my platinum to a regular QS should I take this or hold out for a venture/savor option? I already have other cashback cards.


Looking at your card lineup, @llarrswsind, it appears to me that you would benefit from the Quicksilver.  Your other cash back cards (QS1 at 1.5% with an AF?) and Discover IT (only base level of 1% with higher in-category rewards) don't give you the same benefit of the regular QS:  1.5% uncapped and uncategorized rewards with no AF. 

 

I used mine for a long time before better 2% plus cards came out that I added to my wallet.  (When Quicksilver came out, there weren't a lot of other cards offering 1.5% unlimited cash back much less more than that.)   

 

I would suggest upgrading the Platinum to Quicksilver and cancel the QS1 since it probably won't go anywhere with them long-term. 



Updated 07/20/2020
Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 27+ years;
AAoA = 8+ years; AoYA = less than 1 year (July 2020)
Total Open Credit Lines Over $521K. Utilization Less Than 1%.
Inquiries until Nov 2020 (TU:3 -- EQ:4 -- EX:8)
New Accounts: 3/6 months; 9/12 months; 12/24 months (as of 07/20/20)
Gardening until at least 04/2021.
*Hover cursor over each card to see name & CL, or press & hold on mobile app.
Message 9 of 18
Highlighted
Community Leader
Senior Contributor

Re: Capital 1 question.

CapOne and be interesting that way sometimes. If they won't let you PC now there's very little chance that it'll show up in the future. If you're forking over the AF for the QS1 I'd ditch it unless you actually use the card.

I not a huge fan of keeping a card because it's the oldest card. The card, even if closed isn't going to disappear off your credit report tomorrow and by the time it does you will have already aged a lot more cards.

Message 10 of 18
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.