Capital One PC from QS1 to QS!

[CA4Closure]

Capital One wouldn't remove my $5 monthly fee, increase my CL from $6250 and wouldn't upgrade my Platinum Mastercard so I cancelled the card after 19 years.

[Mv350]

So awesome! Congrats on the freedom from the AF!

[Shooting-For-800]

Awesome.

QS is a great card!

[Anonymous]

I'm sorry. I must not have alerts setup for my email. I didn't realize I had so many responses! Thanks, everyone. 

This has been a few months ago that I was upgraded. The card started as a $1K card about a year after bankruptcy. We had to file Chapter 7 because of medical debt. I was diagnosed with a genetic disorder that requires lots of treatments. This was prior to insurance companies not being allowed to deny on "pre-existing conditions". I had zero insurance and the whole time was pretty scary.) Anyway, I thought our years of credit cards were over. I didn't even apply for anything. Coming from the world of having good credit to bankruptcy was so depressing for me. I would get offers in the mail, but they were always for things like First Premier, etc.

About a year after we filed I received a mailer from Capital One offering me the QuickSilver One with zero APR for 6 months. I went ahead and went for it. We had good experiences with Capital One because they always offered us the best rates on car loans pre-bankruptcy.

It had a $1K starting limit. The letter that came with the card said I could request a review after 90 days. I logged in not expecting much and did the request. It was an instant credit limit increase to $4K. I've never asked for any more increases, they just email me about once a year and say they have lifted the limit. My account with them has been open since 2013. 

Someone asked what my credit score was when I did the conversion. I really don't know, to be honest. I went back and looked at my Discover bill around the same time and when they pulled it the month before it was 674. When they pulled it the same month, it was 668. Of course those are Transunion, which I think C1 uses. 

Oh, someone also asked if I used it every month. We do. I added my husband as an AU shortly after opening it. We both use it and I have a few auto things on it, like our cable and cell phone bill. I haven't always PIF every month. I have been doing so the last year, but we had a few unexpected expenses that were paid over 90 days. 

Hope that helps. I'm so happy to be without the annual fee. I've been working on my credit the last few months. We are looking to buy a new home later in the year. My problem is I didn't have a very diversified file. I've opened 2 new accounts recently, so hopefully that helps in the long run. 

Thanks again for all the support and advice. 🙂

[Anonymous]

I know I'm a couple months behind on this post. Just wanted say congratulations! 👍

[newfossil]

Congratulations!

[CA4Closure]

Once you rebuild your creidt history and are above 720 FICO, drop the Capital One cards and move into a credit union card(s). Capital One is basically good for rebuilding credit. After that, they are useless. 

I am appreciative they helped me but my scores are now in the 820+ range and they do not benefit me at this time so Capital One cards sit in my safe collecting dust. I tried closing this card and Capital One has not closed it. I am still getting a $5 monthly fee!

[soxfaininfl]

Congratulations on your upgrade!

I upgraded my QS1 to a Venture One to get rid of the annual fee, but now I regret it. I'm not really using this card much now. I use my Savor One as my daily driver. I prefer the cash back from my Savor One. I don't travel much, so the Venture One really doesn't make sense for me. I wish I could upgrade the Venture One to the Quicksilver for the 1.5% cash back on all other purchases. I'm using my Savor currently for all other purchases, and I only get 1% cash back.

[Shooting-For-800]

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@CA4Closure wrote:

Once you rebuild your creidt history and are above 720 FICO, drop the Capital One cards and move into a credit union card(s). Capital One is basically good for rebuilding credit. After that, they are useless. 

I am appreciative they helped me but my scores are now in the 820+ range and they do not benefit me at this time so Capital One cards sit in my safe collecting dust. I tried closing this card and Capital One has not closed it. I am still getting a $5 monthly fee!

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Blanket statements are rarely accuarate.

Cap One offers several cards that are not “useless.”

I get 18 month 0% offers with mine that have a 2% fee.

Just one example.

[HeavenOhio]

@soxfaininfl, once your recent product change becomes six months old, chances are that you'll have an offer for an upgrade to Quicksilver. Start checking at that point. Getting an upgrade offer on the VentureOne is much more likely than getting one on a QuicksilverOne.