CapitalOne Venture or Quicksilver

[mrcrisp023]

I already have the capital one secured card, which i got last May so it's been open and in great standing with under 10% until. I'm hearing that venture offers the CL, which is what I want more than anything. Not concerned about rewards. This will be my second capital one card. Should I go for the quicksilver or venture? Also, I'm not sure if I should do the regular cards or the "one" cards?

Thanks.

[Anonymous]

if rewards aren't your concern and only higher limits then the venture will offer a higher SL although i advise against apping for cards just for a high CL honestly. and the venture one offers lower SLs than the venture

[Anonymous]

and check the prequal btw because it's a little strange going from secured to a VS..

[Anonymous]

I read somewhere on the forums that banks don't like to give their higher-tier cards to people who already have a secured card from them, so that may be a concern. 

Aside from that, Venture & Quicksilver have different reward types. If you fly a lot, then Venture would be useful. If not, Quicksilver's rewards are cashback, so they're more versatile. Also, keep in mind Venture and Quicksilver One have annual fees, while Venture One and Quicksilver are free to own.

[mrcrisp023]

I checked the or equal but none matched up for me. They gave suggestions. I don't want to take a hit on the venture and not get it, even though my scores and income appear to be good enough to get it. I just want to make sure I get approved for a card that gives me a decent CL. My combined CC limits are only 800 right now so even if I get approved for 3000 on one card I'll be very happy.

[Anonymous]

you always want the regular cards over the One versions... they are largely the same card, (minor differences) but the regular ones don't have the annual fee that One versions do... in terms of which one to get, it's up to you. As someone mentioned, QS offers cash back, which is more versatile than miles cards, unless you really want a miles card for travel... I like the versatility of cash back more personally...

[Anonymous]

How long is your credit history with your secured cards? If you've had them for less than 6 months, then my guess is you would need to show more history with them to get bigger credit limits. Ideally, banks would like to see responsible use of your credit for 2 years before giving you higher-limit cards, but my guess is you can get higher limit cards after a year with the secured ones.

[mrcrisp023]

It's been 11 months for my capital one, and 9 months for my first premier. I got a CLI after 6 months on my capital one. Ideally I'd rather not have an annual fee, but it also seems that the regular ones will be harder to get since they don't have the annual fee. I just don't wanna waste a hard pull on a regular one and not get approved or get I my like $1000, when I coulda went for a "one" and got $3,000.

[Anonymous]

From what I've read on the forums, the higher-level cards also give higher credit limits. So more likely (using the figures you mentioned) you could get approved for a Quicksilver One with a1k limit, or wait and get a regular Quicksilver with a 3k limit.

[UncleB]

I'm not a Capital One underwriter (none of us are) but I suspect that the problem you would have with a Venture is that you don't have any $5k+ cards already.  The Venture only comes as a signature ($5k+) as far as I know.  I saw a thread just a few days ago started by someone with a profile similar to yours - like you, they had a credit score that was likely high enough (as you do) but their lack of experience with higher limit cards caused them to be declined specifically for Venture.

If you apply for the Quicksilver Visa you can be approved for a credit line below $5k, so that's likely what I would do (if you choose not to wait).  It's true you'll get the largest credit line with a Venture, but your chances of approval for it might be "iffy" at best, in my opinion.  (I'm not saying it's a sure decline - stranger things have happened - just that it might be a 'stretch', especially with no pre-qual offer.)

When the time is right (assuming you choose to wait) there are several things to consider.  The Venture is generally more desirable than the Venture One since its sign up bonus is better and rewards scheme is more favorable (and initial credit line is higher), but if you don't care about rewards the Venture One might be preferable since it's APR is generally 1% lower than the regular Venture (at least for me), and it doesn't have an AF.  Of course if you get a Venture you can always change it to a no-fee Quicksilver later (which many people do) but the APR will remain the same. 

There are several ways to go about things with Capital One, depending on your priorities.  For the moment if you feel the need to apply for anything, I would limit myself to the Quicksilver or Venture One, which both can be approved with starting credit lines below $5k.

Just my 2¢. 

Side note:  Of the Quicksilver cards, the "One" version has the AF.  With Venture it's the exact opposite; the 'regular' Venture has an AF, the "One" version does not.