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CapitalOne PC Questions

coldfusion
Community Leader
Super Contributor

Re: CapitalOne PC Questions


@Gollum wrote:

@SUPERSQUID wrote:

WOW, Thanks !!!!!

I just got upgraded to the qs no annual fee from the platinum. i've had the card 5 months, tiny crecit limit of 300 which stays the same but now i get 1.5 percent cash back.


For a starter credit card, cash back is insignificant. Maxing out a $300 credit limit credit card every month with 1.5% cash back means $4.50/month cash back. $4.50/month seems insignificant compared to the FICO score ramifications of maxing out the credit line.


All other things being equal it's hard to see that getting nothing for using the card is better than getting 1.5% cash back for using the card.

 

 

 



(10/2021)
FICO 8 (EX) 804 (TU) 830 (EQ) 827
FICO 9 (EX) 827 (TU) 826 (EQ) 838

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 11 of 20
Curious_George2
Established Contributor

Re: CapitalOne PC Questions


@coldfusion wrote:

@Gollum wrote:

@SUPERSQUID wrote:

WOW, Thanks !!!!!

I just got upgraded to the qs no annual fee from the platinum. i've had the card 5 months, tiny crecit limit of 300 which stays the same but now i get 1.5 percent cash back.


For a starter credit card, cash back is insignificant. Maxing out a $300 credit limit credit card every month with 1.5% cash back means $4.50/month cash back. $4.50/month seems insignificant compared to the FICO score ramifications of maxing out the credit line.


All other things being equal it's hard to see that getting nothing for using the card is better than getting 1.5% cash back for using the card.


And using the card heavily doesn't necessarily equate to letting a high balance report. Capital One, like most issuers, only reports the statement balance to the CRAs. So, make a payment before statement cut date and you get the best of both worlds. 

Congrats on adding QS rewards, @SUPERSQUID! It's cool that this formerly dormant thread is helping people.


Message 12 of 20
SUPERSQUID
Frequent Contributor

Re: CapitalOne PC Questions


@Gollum wrote:

@SUPERSQUID wrote:

WOW, Thanks !!!!!

I just got upgraded to the qs no annual fee from the platinum. i've had the card 5 months, tiny crecit limit of 300 which stays the same but now i get 1.5 percent cash back.


For a starter credit card, cash back is insignificant. Maxing out a $300 credit limit credit card every month with 1.5% cash back means $4.50/month cash back. $4.50/month seems insignificant compared to the FICO score ramifications of maxing out the credit line.


Let me give you a little history on me, i went bk7 in 12/2019, i burned cap 1 for about 5k. at one point i had 7 of their cards because they bought other banks, 2 of them were qs. i am long in the tooth and not new to this.

The cl is secondary to me otherwise i wouldnt have accepted most of my cards, its a journey, a rebuild, 300 is peanuts and i usually dont go beyond 40 percent balance so i will probably realize minimal gain, probably a couple of bucks a month. if they offered the 39 af version i would have declined it but they offered zero af ,so whats to lose?

The way i look at it its one or two bucks in my pocket i didnt have before.

I learned to enjoy the small things in life, i'm elated about converting to qs no annual fee.

target 500 kohls 700 discover 3k mercury 3350 ollo 600 mission lane 1050 big lots 750 ikea 550 valero 300 firestone 2800 legacy 1500 first savings bank cc 1500 cap1 QS 1800 fingerhut 2600
Message 13 of 20
40thieves
Valued Member

Re: CapitalOne PC Questions


@Gollum wrote:

@SUPERSQUID wrote:

WOW, Thanks !!!!!

I just got upgraded to the qs no annual fee from the platinum. i've had the card 5 months, tiny crecit limit of 300 which stays the same but now i get 1.5 percent cash back.


For a starter credit card, cash back is insignificant. Maxing out a $300 credit limit credit card every month with 1.5% cash back means $4.50/month cash back. $4.50/month seems insignificant compared to the FICO score ramifications of maxing out the credit line.


You spend $290, pay it off, spend $290, pay it off, rinse and repeat making sure you're paid off when your card reports.

Since Cap One credits payments to your available credit immediately, this is ridiculously easy to do. I spend about $2000 a month on a Cap One card with a $400 credit limit.

End result: ability to spend thousands of dollars in a month on a $300 limit card, no FICO penalty, 1.5% cash back.

Message 14 of 20
Gollum
Frequent Contributor

Re: CapitalOne PC Questions


@SUPERSQUID wrote:

@Gollum wrote:

@SUPERSQUID wrote:

WOW, Thanks !!!!!

I just got upgraded to the qs no annual fee from the platinum. i've had the card 5 months, tiny crecit limit of 300 which stays the same but now i get 1.5 percent cash back.


For a starter credit card, cash back is insignificant. Maxing out a $300 credit limit credit card every month with 1.5% cash back means $4.50/month cash back. $4.50/month seems insignificant compared to the FICO score ramifications of maxing out the credit line.


Let me give you a little history on me, i went bk7 in 12/2019, i burned cap 1 for about 5k. at one point i had 7 of their cards because they bought other banks, 2 of them were qs. i am long in the tooth and not new to this.

The cl is secondary to me otherwise i wouldnt have accepted most of my cards, its a journey, a rebuild, 300 is peanuts and i usually dont go beyond 40 percent balance so i will probably realize minimal gain, probably a couple of bucks a month. if they offered the 39 af version i would have declined it but they offered zero af ,so whats to lose?

The way i look at it its one or two bucks in my pocket i didnt have before.

I learned to enjoy the small things in life, i'm elated about converting to qs no annual fee.


One or two dollars per month still seems insignificant to me when considering a credit card's value.

Credit Scores: (FICO 8) 845 Experian September 2021, 836 TransUnion September 2021 | (FICO 9) 839 Equifax October 2021
Credit Cards (newest to oldest): NFCU VISA Platinum $25,000 | BECU Cash Back VISA $10,000 | American Express BCE $3000 | Simmons Bank VISA Platinum $7500 | Capital One No Hassle Rewards VISA Platinum $500
Message 15 of 20
SUPERSQUID
Frequent Contributor

Re: CapitalOne PC Questions


@Gollum wrote:

@SUPERSQUID wrote:

@Gollum wrote:

@SUPERSQUID wrote:

WOW, Thanks !!!!!

I just got upgraded to the qs no annual fee from the platinum. i've had the card 5 months, tiny crecit limit of 300 which stays the same but now i get 1.5 percent cash back.


For a starter credit card, cash back is insignificant. Maxing out a $300 credit limit credit card every month with 1.5% cash back means $4.50/month cash back. $4.50/month seems insignificant compared to the FICO score ramifications of maxing out the credit line.


Let me give you a little history on me, i went bk7 in 12/2019, i burned cap 1 for about 5k. at one point i had 7 of their cards because they bought other banks, 2 of them were qs. i am long in the tooth and not new to this.

The cl is secondary to me otherwise i wouldnt have accepted most of my cards, its a journey, a rebuild, 300 is peanuts and i usually dont go beyond 40 percent balance so i will probably realize minimal gain, probably a couple of bucks a month. if they offered the 39 af version i would have declined it but they offered zero af ,so whats to lose?

The way i look at it its one or two bucks in my pocket i didnt have before.

I learned to enjoy the small things in life, i'm elated about converting to qs no annual fee.


One or two dollars per month still seems insignificant to me when considering a credit card's value.


All is relative. Its easy when you are on the top of the mountain but there isnt much choice when you are inching up the hill.  if you were gassing up your vehicle and they handed you 2 bucks back would you take it? 

target 500 kohls 700 discover 3k mercury 3350 ollo 600 mission lane 1050 big lots 750 ikea 550 valero 300 firestone 2800 legacy 1500 first savings bank cc 1500 cap1 QS 1800 fingerhut 2600
Message 16 of 20
Gollum
Frequent Contributor

Re: CapitalOne PC Questions


@SUPERSQUID wrote:

@Gollum wrote:

@SUPERSQUID wrote:

@Gollum wrote:

@SUPERSQUID wrote:

WOW, Thanks !!!!!

I just got upgraded to the qs no annual fee from the platinum. i've had the card 5 months, tiny crecit limit of 300 which stays the same but now i get 1.5 percent cash back.


For a starter credit card, cash back is insignificant. Maxing out a $300 credit limit credit card every month with 1.5% cash back means $4.50/month cash back. $4.50/month seems insignificant compared to the FICO score ramifications of maxing out the credit line.


Let me give you a little history on me, i went bk7 in 12/2019, i burned cap 1 for about 5k. at one point i had 7 of their cards because they bought other banks, 2 of them were qs. i am long in the tooth and not new to this.

The cl is secondary to me otherwise i wouldnt have accepted most of my cards, its a journey, a rebuild, 300 is peanuts and i usually dont go beyond 40 percent balance so i will probably realize minimal gain, probably a couple of bucks a month. if they offered the 39 af version i would have declined it but they offered zero af ,so whats to lose?

The way i look at it its one or two bucks in my pocket i didnt have before.

I learned to enjoy the small things in life, i'm elated about converting to qs no annual fee.


One or two dollars per month still seems insignificant to me when considering a credit card's value.


All is relative. Its easy when you are on the top of the mountain but there isnt much choice when you are inching up the hill.  if you were gassing up your vehicle and they handed you 2 bucks back would you take it? 


Given your credit history, I can sorta understand your point of view and bitterness. Fighting for a buck or two per month, not so much.

Credit Scores: (FICO 8) 845 Experian September 2021, 836 TransUnion September 2021 | (FICO 9) 839 Equifax October 2021
Credit Cards (newest to oldest): NFCU VISA Platinum $25,000 | BECU Cash Back VISA $10,000 | American Express BCE $3000 | Simmons Bank VISA Platinum $7500 | Capital One No Hassle Rewards VISA Platinum $500
Message 17 of 20
millionsofmiles
Established Member

Re: CapitalOne PC Questions

I got a PC from my Cap One Platinum to QS with no HP last month. CL is $3000, and, of course, no AF.

Message 18 of 20
SUPERSQUID
Frequent Contributor

Re: CapitalOne PC Questions


@Gollum wrote:

@SUPERSQUID wrote:

@Gollum wrote:

@SUPERSQUID wrote:

@Gollum wrote:

@SUPERSQUID wrote:

WOW, Thanks !!!!!

I just got upgraded to the qs no annual fee from the platinum. i've had the card 5 months, tiny crecit limit of 300 which stays the same but now i get 1.5 percent cash back.


For a starter credit card, cash back is insignificant. Maxing out a $300 credit limit credit card every month with 1.5% cash back means $4.50/month cash back. $4.50/month seems insignificant compared to the FICO score ramifications of maxing out the credit line.


Let me give you a little history on me, i went bk7 in 12/2019, i burned cap 1 for about 5k. at one point i had 7 of their cards because they bought other banks, 2 of them were qs. i am long in the tooth and not new to this.

The cl is secondary to me otherwise i wouldnt have accepted most of my cards, its a journey, a rebuild, 300 is peanuts and i usually dont go beyond 40 percent balance so i will probably realize minimal gain, probably a couple of bucks a month. if they offered the 39 af version i would have declined it but they offered zero af ,so whats to lose?

The way i look at it its one or two bucks in my pocket i didnt have before.

I learned to enjoy the small things in life, i'm elated about converting to qs no annual fee.


One or two dollars per month still seems insignificant to me when considering a credit card's value.


All is relative. Its easy when you are on the top of the mountain but there isnt much choice when you are inching up the hill.  if you were gassing up your vehicle and they handed you 2 bucks back would you take it? 


Given your credit history, I can sorta understand your point of view and bitterness. Fighting for a buck or two per month, not so much.


 

Newsflash, cap 1 gave me a cli to 1800 on the 15th so the upgrade to QS will be more valuable than 1-2 bucks a month.

 

BITTERNESS? 

FIGHTING FOR A BUCK OR 2??

I was upgraded to QS no af for no cost. are you saying its better to stay with the platinum and skip the 1.5 reward. if i spend 100 on platinum its zilch back, if i spend 100 on QS its 1.50 back.

simple math

target 500 kohls 700 discover 3k mercury 3350 ollo 600 mission lane 1050 big lots 750 ikea 550 valero 300 firestone 2800 legacy 1500 first savings bank cc 1500 cap1 QS 1800 fingerhut 2600
Message 19 of 20
40thieves
Valued Member

Re: CapitalOne PC Questions


@SUPERSQUID wrote:

@Gollum wrote:

@SUPERSQUID wrote:

@Gollum wrote:

@SUPERSQUID wrote:

@Gollum wrote:

@SUPERSQUID wrote:

WOW, Thanks !!!!!

I just got upgraded to the qs no annual fee from the platinum. i've had the card 5 months, tiny crecit limit of 300 which stays the same but now i get 1.5 percent cash back.


For a starter credit card, cash back is insignificant. Maxing out a $300 credit limit credit card every month with 1.5% cash back means $4.50/month cash back. $4.50/month seems insignificant compared to the FICO score ramifications of maxing out the credit line.


Let me give you a little history on me, i went bk7 in 12/2019, i burned cap 1 for about 5k. at one point i had 7 of their cards because they bought other banks, 2 of them were qs. i am long in the tooth and not new to this.

The cl is secondary to me otherwise i wouldnt have accepted most of my cards, its a journey, a rebuild, 300 is peanuts and i usually dont go beyond 40 percent balance so i will probably realize minimal gain, probably a couple of bucks a month. if they offered the 39 af version i would have declined it but they offered zero af ,so whats to lose?

The way i look at it its one or two bucks in my pocket i didnt have before.

I learned to enjoy the small things in life, i'm elated about converting to qs no annual fee.


One or two dollars per month still seems insignificant to me when considering a credit card's value.


All is relative. Its easy when you are on the top of the mountain but there isnt much choice when you are inching up the hill.  if you were gassing up your vehicle and they handed you 2 bucks back would you take it? 


Given your credit history, I can sorta understand your point of view and bitterness. Fighting for a buck or two per month, not so much.


 

Newsflash, cap 1 gave me a cli to 1800 on the 15th so the upgrade to QS will be more valuable than 1-2 bucks a month.

 

BITTERNESS? 

FIGHTING FOR A BUCK OR 2??

I was upgraded to QS no af for no cost. are you saying its better to stay with the platinum and skip the 1.5 reward. if i spend 100 on platinum its zilch back, if i spend 100 on QS its 1.50 back.

simple math


There are always going to be people who REFUSE to value small amounts of money because, you know, it's only "a buck or two", and somehow don't comprehend that a buck or two adds up surprisingly fast.  

Message 20 of 20
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