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Capital One 5.99% APR risk of being raised for Quicksilver Upgrade?

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moonkey1234
Established Member

Capital One 5.99% APR risk of being raised for Quicksilver Upgrade?

Hi everyone my father has a old credit card with no rewards from capital one that still has a 5.99% apr but through the upgade link he has the quicksilver card keeping the same apr and everything. My question is: Is there a risk that they'll raise the APR when they're in the mood? hasn't happened in 12 years yet...

FICO 8: EX 621 - 18 inquiries - 02/28/23
FICO 8: TU 533 - 8 inquiries - 02/24/23
FICO 8: EQ 605 - 3 inquiries - 02/24/23
BK7 Discharge - 1/31/23

Message 1 of 4
3 REPLIES 3
UncleB
Credit Mentor

Re: Capital One 5.99% APR risk of being raised for Quicksilver Upgrade?


@moonkey1234wrote:

Hi everyone my father has a old credit card with no rewards from capital one that still has a 5.99% apr but through the upgade link he has the quicksilver card keeping the same apr and everything. My question is: Is there a risk that they'll raise the APR when they're in the mood? hasn't happened in 12 years yet...


I've never seen Capital One change an APR due to a PC; if the APR is going to change it will change regardless of the rewards the card gets/doesn't get.

 

I personally would jump on the chance to have a Quicksilver at 5.99%... that's quite a sweet deal!  Smiley Very Happy

Message 2 of 4
moonkey1234
Established Member

Re: Capital One 5.99% APR risk of being raised for Quicksilver Upgrade?

Sounds good but don't want him to kill me lol.
FICO 8: EX 621 - 18 inquiries - 02/28/23
FICO 8: TU 533 - 8 inquiries - 02/24/23
FICO 8: EQ 605 - 3 inquiries - 02/24/23
BK7 Discharge - 1/31/23

Message 3 of 4
UncleB
Credit Mentor

Re: Capital One 5.99% APR risk of being raised for Quicksilver Upgrade?


@moonkey1234wrote:
Sounds good but don't want him to kill me lol.

If it will make him feel better,  have him call and talk to a supervisor. 

 

Capital One is usually adamant that APRs can't be changed at all (unless it's variable to begin with and there's a Fed change, of course).  To show how difficult is is, some have gone to the EO (Executive Office) to request reductions with very limited success (and none recent that I can recall).  The APR is said to be tied to the contract that governs the individual account and is independent of rewards, or so I was told once.

 

Another option is to simply let your father be happy with what he has... 5.99% is good in its own right, and sometimes the angst just isn't worth it.  If he wants to earn rewards he can do so with another card, and keep the 5.99% Capital One for special occasions when he needs to carry a balance.  Smiley Wink

 

Just my 2¢.  Smiley Happy

Message 4 of 4
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