Re: Capital One Upgrade Finally!

Anonymous · ‎08-07-2020

@HeavenOhio wrote:
@MerMer495, product change offers on the no-fee Capital One cards don't seem to be tied to much at all. We've seen a lot of starter bucket Platinum cards upgraded to Quicksilvers very early on.

Where are the product change offers found in the or on the web site? Should they be under “Offers and Upgrades” where I only see “Balance Transfer” and “Request a Credit Line Increase”? How can one tell if one’s card is in a starter bucket? My B/F has had his Platinum card for just under 3 years, and never looked to request a credit line increase, nor understood he should try to product change to something else. He has had the same $5,5500 line of credit since he got it.

Of course, if it's a limit increase you're looking for, Capital One wants to see lots of spending. I've found that spending an average of about 3k per month over a period of a little over three months has generated offers for 3k increases. If you spend a lot and don't receive offers, your card is likely stuck in a starter bucket.

Their offers of a credit line increase would also show up in the same section ("Offers and Upgrades") and are different than the "Request Credit Line Increase"? (I presume so, but I just want to make sure.) :-) Given that he had been running a balance on his three cards with higher limits, and is now starting his second month of them all reporting $0/low (the Platinum reported $83 as I could not figure out how to overpay the card in time) balances, is an offer for a QuickSilver likely or will he have to call to request it? Is there any reason to be wary about calling to request, rather than just waiting for an offer?

Also, just for completeness, does their "Request Credit Line Increase" link/button appear and disappear like on Bank of America's app or is it always there (in other words, is it meaningful if it is there)?

HeavenOhio · ‎08-07-2020

Cards with four-digit limits are generally assumed to have escaped the starter bucket and should be fine for CLIs as long as there's been enough spending.

There's no upgrade tool on Capital One's website, but there's an upgrade link floating around this board that actually comes from e-mails that Capital One has sent out. However, people have found that the link doesn't always include every available offer. I'd either use chat or call in and ask if upgrades are available. I've always called in.

The tool to request a credit line increase is always present, and you can request frequently without penalty. Of course, requesting obsessively would be kind of pointless, but once a month or so is cool. Be aware that if you accept an increase, you must wait six months before you'll be offered another. No clock is reset if you're denied or if you decline an increase. That means that if there's an offer that you deem too low, decline it and try again in a month.

Capital One will allow you to "overpay" by 10% of your current balance. Simply compute that number and enter the amount.

Anonymous · ‎08-07-2020

@HeavenOhio wrote:
Cards with four-digit limits are generally assumed to have escaped the starter bucket and should be fine for CLIs as long as there's been enough spending.

Thanks. That’s good to know. He does not need and (unless he did a product change) would not want a limit increase, but it is good to know it is likely possible.

There's no upgrade tool on Capital One's website, but there's an upgrade link floating around this board that actually comes from e-mails that Capital One has sent out. However, people have found that the link doesn't always include every available offer. I'd either use chat or call in and ask if upgrades are available. I've always called in.

Ok. From what I can tell, the best card option for him would be Quicksilver. Can he change card networks when he product changes (going from MasterCard to Visa)? Not a big deal, but it would be nice to have another card for use at CostCo. :-)

The tool to request a credit line increase is always present, and you can request frequently without penalty. Of course, requesting obsessively would be kind of pointless, but once a month or so is cool. Be aware that if you accept an increase, you must wait six months before you'll be offered another. No clock is reset if you're denied or if you decline an increase. That means that if there's an offer that you deem too low, decline it and try again in a month.

Useful information if he ever decides to increase his limits with them.

Capital One will allow you to "overpay" by 10% of your current balance. Simply compute that number and enter the amount.

Now you tell me! :-) The problem I hit was that I did not think of it until I had paid the balance off. Then when I went to make another payment for the interest, it would not let me (as it showed a zero balance). By the time I figured out how to push a payment from his other account, it was too late. Live and learn. I hope it is not something I need to deal with again. :-)

HeavenOhio · ‎08-07-2020

Capital One doesn't let you change networks as part of a product change.

Anonymous · ‎08-07-2020

@HeavenOhio wrote:
Capital One doesn't let you change networks as part of a product change.

That is too bad, as it would make the card somewhat more useful. Oh well. In other news, I found the upgrade link in another thread, checked and it offers him Venture One, Venture, and QuickSilver. Is there any reason at all not to upgrade right now (he would take the QuickSilver)?