@Anonymous wrote:Hi Everyone, long time lurker here..
I am a newcomer to the US, arrived in 2019. My first card was a BoA custom rewards with a 1k limit. A year after I got that card my score jumped to 750 and I decided to apply to another card. I applied to QS1 and was approved for 1k limit and several months later the limit was auto raised to 1,300, and I started receiving almost daily pre-approval invitation for their Savor card. I tried upgrading to QS to skip on that annual fee, but they always say they have no offer
Now it's been a year, I ended up applying for the Savor card, which was approved for 5k, and a couple of months ago I got the Chase Freedom Unlimited with a healthy limit. My first BoA card is a little under 5k limit too.
The issue I have with the QS1 now is that it has the lowest limit of all my cards, and when I requested a CLI from k1.3 to 3k, I got a counteroffer for a pathetic $150. The Savor card already has 3 product change offers (to QS, Venture or Platinum).
I did some reading online about the buckets and it does explain why this card is a bit sluggish.
My question is, how bad would closing this card before the annual fee hits hurt my credit report? It is not my oldest account, and would not drop my average age of open accounts that much.Thank you all!
It won't impact you at all in the short run. A closed card continues to be factored into your average age of accounts as long as it remains in your reports, which is typically 10 years.
@SouthJamaica wrote:
@Anonymous wrote:Hi Everyone, long time lurker here..
I am a newcomer to the US, arrived in 2019. My first card was a BoA custom rewards with a 1k limit. A year after I got that card my score jumped to 750 and I decided to apply to another card. I applied to QS1 and was approved for 1k limit and several months later the limit was auto raised to 1,300, and I started receiving almost daily pre-approval invitation for their Savor card. I tried upgrading to QS to skip on that annual fee, but they always say they have no offer
Now it's been a year, I ended up applying for the Savor card, which was approved for 5k, and a couple of months ago I got the Chase Freedom Unlimited with a healthy limit. My first BoA card is a little under 5k limit too.
The issue I have with the QS1 now is that it has the lowest limit of all my cards, and when I requested a CLI from k1.3 to 3k, I got a counteroffer for a pathetic $150. The Savor card already has 3 product change offers (to QS, Venture or Platinum).
I did some reading online about the buckets and it does explain why this card is a bit sluggish.
My question is, how bad would closing this card before the annual fee hits hurt my credit report? It is not my oldest account, and would not drop my average age of open accounts that much.Thank you all!
It won't impact you at all in the short run. A closed card continues to be factored into your average age of accounts as long as it remains in your reports, which is typically 10 years.
+1. The only potential implication is if your utilization spikes and you cross a scoring threshold(s).
Is a downgrade path possible for you? I have a Quicksilver that was a Venture, and product changed at the 2 year mark. Kept the same limits, but get 2% back rather than the miles, which were useless to me. Also, no yearly fee. The account remained on my report, didnt change, AoA continued to grow and my total available credit remined high. If your goal is to keep utilization low, and credit availble high, keep the card but call in and look to product change.
@Anonymalous wrote:
@HeavyResist wrote:Is a downgrade path possible for you? I have a Quicksilver that was a Venture, and product changed at the 2 year mark. Kept the same limits, but get 2% back rather than the miles, which were useless to me. Also, no yearly fee. The account remained on my report, didnt change, AoA continued to grow and my total available credit remined high. If your goal is to keep utilization low, and credit availble high, keep the card but call in and look to product change.
Downgrading is often a good option for premium cards with annual fees, but the QS1 is a subprime card, and Capital One is notorious for not wanting to product change it into anything else.
I have noticed on the threads, now that I think about, CapOne seems somewhat stubborn. I have two of the QS, 17.5K combined lines (5 seperate CLI's over the years), both were product changes. The lower one is from my first platninum post-BK, and the other was a venture one from four years ago. I keep looking at the upgrade options and they keep trying to push me back into venture. Ive asked to upgrade to Savor, but its been no dice for over a year now. Is it possible im in one of those buckets?
@HeavyResist wrote:
@Anonymalous wrote:
@HeavyResist wrote:Is a downgrade path possible for you? I have a Quicksilver that was a Venture, and product changed at the 2 year mark. Kept the same limits, but get 2% back rather than the miles, which were useless to me. Also, no yearly fee. The account remained on my report, didnt change, AoA continued to grow and my total available credit remined high. If your goal is to keep utilization low, and credit availble high, keep the card but call in and look to product change.
Downgrading is often a good option for premium cards with annual fees, but the QS1 is a subprime card, and Capital One is notorious for not wanting to product change it into anything else.
I have noticed on the threads, now that I think about, CapOne seems somewhat stubborn. I have two of the QS, 17.5K combined lines (5 seperate CLI's over the years), both were product changes. The lower one is from my first platninum post-BK, and the other was a venture one from four years ago. I keep looking at the upgrade options and they keep trying to push me back into venture. Ive asked to upgrade to Savor, but its been no dice for over a year now. Is it possible im in one of those buckets?
Bucketed usually refers to someone who just applied for a Savor and got a SL of $30K, but still has an old Platinum that had a SL of $300, and which has only grown to $500 over the years. If your CL across the two QSes is $17.5K, you're clearly not in that category.
I'd expect a post-BK Platinum to be bucketed today, but it sounds like C1 was more lax about upgrades and CLIs a few years back. But C1 does seem to have other internal limits, and you may be restricted in a softer way. The ways of the underwriters are beyond the comprehension of mortals like us. 
I don't think the failure to upgrade to a Savor means anything, though. There are a few reports of people successfully upgrading to a Savor or Savor One, but they're incredibly rare. For most people, it's never an option. If you want a Savor, you'll probably have to apply for it directly.
@Anonymalous wrote:
@HeavyResist wrote:
@Anonymalous wrote:
@HeavyResist wrote:Is a downgrade path possible for you? I have a Quicksilver that was a Venture, and product changed at the 2 year mark. Kept the same limits, but get 2% back rather than the miles, which were useless to me. Also, no yearly fee. The account remained on my report, didnt change, AoA continued to grow and my total available credit remined high. If your goal is to keep utilization low, and credit availble high, keep the card but call in and look to product change.
Downgrading is often a good option for premium cards with annual fees, but the QS1 is a subprime card, and Capital One is notorious for not wanting to product change it into anything else.
I have noticed on the threads, now that I think about, CapOne seems somewhat stubborn. I have two of the QS, 17.5K combined lines (5 seperate CLI's over the years), both were product changes. The lower one is from my first platninum post-BK, and the other was a venture one from four years ago. I keep looking at the upgrade options and they keep trying to push me back into venture. Ive asked to upgrade to Savor, but its been no dice for over a year now. Is it possible im in one of those buckets?
Bucketed usually refers to someone who just applied for a Savor and got a SL of $30K, but still has an old Platinum that had a SL of $300, and which has only grown to $500 over the years. If your CL across the two QSes is $17.5K, you're clearly not in that category.
I'd expect a post-BK Platinum to be bucketed today, but it sounds like C1 was more lax about upgrades and CLIs a few years back. But C1 does seem to have other internal limits, and you may be restricted in a softer way. The ways of the underwriters are beyond the comprehension of mortals like us.
I don't think the failure to upgrade to a Savor means anything, though. There are a few reports of people successfully upgrading to a Savor or Savor One, but they're incredibly rare. For most people, it's never an option. If you want a Savor, you'll probably have to apply for it directly.
Here I was hopeful about the Savor. I didn't want to waste the pull to get the card, and but wanted the cash back categories. Maybe after I get Chase cards well and settled I can revist it. Thanks for the feedback.