Capital One QuicksilverOne upgrade to VentureOne questions

[CBTS]

I have a QuicksilverOne with a SL of $3000 that I got in August. I checked the upgrade link and I was offered the VentureOne with no annual fee. Will this upgrade help me at all with CLIs? Do both cards have the same credit requirements, or will VentureOne help me get out of the low-credit bucket faster? The no annual fee on VentureOne is definitely a big plus, but I was thinking about holding off on PCing since I've already paid the annual fee on QuicksilverOne and it won't be due again till August 2019. On the other hand I do also have the regular Quicksilver (upgraded from Platinum) giving me the same 1.5% cashback with no annual fee, but the CL is only $1500 (SL $1000, increased to $1500 with credit steps) so I haven't been using it a lot. Only way it makes sense for me to upgrade QuicksilverOne now instead of next year is if it somehow helps me get bigger CLIs. This card is also enrolled in credit steps and the CL is supposed to go up to $3500 in Feb-March. And I'm currently offered a $300 CLI which I declined.

What should be my course of action to get the best possible results?

[imaximous]

My experience has been that a card doesn't leave a "bucket" because of a PC or multiple PCs. I used to have a card that started as Platinum with a $500 CL. Got a few increases over the years to $8k, and I PCed it several times. But the APR was very high (mid 20s%), and CLIs were declined several times after I got to $8k. Then, I decided to apply for the Venture, and got a $30K SL off the bat.
After a year, I ended up combining the old card into the newer one, and now it's a grandfathered Savor 4% with a $41k CL. The difference in APRs between the 2 was more than 10%.
From all I've read here, once in a bucket, always in a bucket. You'd have to apply and be approved for a card with normal or better terms.

[FireMedic1]

Both cards are considered starter bucket cards. Will you see major CLI's? Probably not. It is what its. Starter cards are to jump start your rebuilding that will lead to bigger and better things. JMO. The Venture 1 isnt that big deal of a card. Best practice. Use them Pay them, build some history and in time look for cards that will meet your needs. They are not and never will be a life long card.

[L-TWT]

I never quit understood why the Cap1 venture one is considered an upgrade over the quicksilver, even the quick silver one for that matter, when both offer 1.5CB vs 1.25 miles!

[Anonymous]

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@CBTS wrote:

I have a QuicksilverOne with a SL of $3000 that I got in August. I checked the upgrade link and I was offered the VentureOne with no annual fee. Will this upgrade help me at all with CLIs? Do both cards have the same credit requirements, or will VentureOne help me get out of the low-credit bucket faster? The no annual fee on VentureOne is definitely a big plus, but I was thinking about holding off on PCing since I've already paid the annual fee on QuicksilverOne and it won't be due again till August 2019. On the other hand I do also have the regular Quicksilver (upgraded from Platinum) giving me the same 1.5% cashback with no annual fee, but the CL is only $1500 (SL $1000, increased to $1500 with credit steps) so I haven't been using it a lot. Only way it makes sense for me to upgrade QuicksilverOne now instead of next year is if it somehow helps me get bigger CLIs. This card is also enrolled in credit steps and the CL is supposed to go up to $3500 in Feb-March. And I'm currently offered a $300 CLI which I declined.

What should be my course of action to get the best possible results?

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Great advice already given. And another option you have is to combine the Quicksilver 1 into the older no annual fee Quicksilver after the Quicksilver 1 has completed credit steps.  Also, at about month 4, before the end of credit steps, you can try for a CLI on the Quicksilver 1.

This is what I did with my Quicksilver 1. I started with 3000. Got an increase at month 4 of $300 and another $500 at the end of credit steps. I then combined it into my Venture card for a higher limit on the Venture. Just an alternative to think about. 

[Sadie5150]

I have the Quicksilver1.. Where can I find the info on the credit steps?  Or is this info coming from experience with that card?  I got mine in October, and it has a $3000 SL.

[Brian_Earl_Spilner]

Take the $300, they're not gonna give you more. It won't affect your steps increase, but after the steps increase you won't be able to apply again for 6 months. 

[Anonymous]

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@Sadie5150 wrote:

I have the Quicksilver1.. Where can I find the info on the credit steps?  Or is this info coming from experience with that card?  I got mine in October, and it has a $3000 SL.

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When I was approved for my Quicksilver 1, I received an email approximately within one month saying, "You're on your way to a credit line increase..." The email went on to explain that with 5 on time monthly payments, I would receive a CLI of $500. They gave a date that I should have my CLI. 

Looked like this:

[Sadie5150]

Thanks... I just went thru my junk mail and found it.. Thanks!

[HeavenOhio]

@CBTS, how much do you spend on this card each month?

This is an odd scenario as we almost never run into a situation where upgrading a QuickSilverOne isn't a slam dunk. Now that the annual fee is paid, I see your point that in the short term, the VentureOne amounts to a rewards downgrade.

My biggest concern is that the offer is still available next summer. Have you tried calling in or chatting? The link doesn't always show all offers. If you can get a Quicksilver offer, it would make sense to jump on it. If you decide to delay product-changing, make sure you use the card each and every month.

Product changes don't affect CLI eligibility, so don't worry about that. The only things a PC will change are the rewards structure, the verification code on the back, the annual fee (if applicable), and possibly the expiration date.

With a 3K starting limit, I think there's a pretty good possibility that you've escaped the dreaded "bucketing" mentioned above. If your Steps increase is due in February-March, I'd request a CLI again in late January and take what they offer. I think the real bucketing test will come from requesting a CLI six months after your Steps increase.