Clarification on Capital One's QuickSilver and QuickSilver-One cards.

[Anonymous]

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@Anonymous wrote:

This is from their "Rates and Disclosures." I will add this to the first post as well.

QuickSilver (Visa)

How Do You Determine My Credit Line?

We will determine your credit line after a review of your application and your ability to pay. If your application is approved, the minimum credit line you will receive is $3,000.

QuickSilver-One (MasterCard)

How Do You Determine My Credit Line?

We will determine your credit line after a review of your application and your ability to pay. If your application is approved, the minimum credit line you will receive is $300.

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Cap One frequently ignores the alleged $3000 minimum for the Quicksilver.

[DeeBee78]

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@Anonymous wrote:

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@Anonymous wrote:

This is from their "Rates and Disclosures." I will add this to the first post as well.

QuickSilver (Visa)

How Do You Determine My Credit Line?

We will determine your credit line after a review of your application and your ability to pay. If your application is approved, the minimum credit line you will receive is $3,000.

QuickSilver-One (MasterCard)

How Do You Determine My Credit Line?

We will determine your credit line after a review of your application and your ability to pay. If your application is approved, the minimum credit line you will receive is $300.

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Cap One frequently ignores the alleged $3000 minimum for the Quicksilver.

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And then quotes the same arbitrary minimum limit when I ask for a PC

[Anonymous]

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@DeeBee78 wrote:

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@Anonymous wrote:

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@Anonymous wrote:

This is from their "Rates and Disclosures." I will add this to the first post as well.

QuickSilver (Visa)

How Do You Determine My Credit Line?

We will determine your credit line after a review of your application and your ability to pay. If your application is approved, the minimum credit line you will receive is $3,000.

QuickSilver-One (MasterCard)

How Do You Determine My Credit Line?

We will determine your credit line after a review of your application and your ability to pay. If your application is approved, the minimum credit line you will receive is $300.

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Cap One frequently ignores the alleged $3000 minimum for the Quicksilver.

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And then quotes the same arbitrary minimum limit when I ask for a PC

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Yep, they did the same thing with me - multiple times - when I tried with my 7 plus year old QS1. I finally said screw it and closed the card.

[sjt]

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@Anonymous wrote:

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@Anonymous wrote:

That is false.

I did not have good or excellent scores whatsoever. I applied for the regular qs, instant approval with $1,000 liimit, and guaranteed increase to $1,500 after 5 timely payments from credit steps. My card does NOT say qs one, it is a Visa. No annual fee. And...I grew tired of waiting for the 6 month mark, hit luv button, instant $2,000 increase to $3,000.

Folks...if you are applying and are scared, then apply for multiple capital one products at once....right?

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How long ago was this when you applied? I'm assuming that the credit steps may have only been for people with low initail credit limit such as below $3000. Reason is because a friend of mine apply for the quicksilver visa and her limit was $3000 and she didn't get the credit steps program. This was only about 4 months ago. maybe capital one's term have changed this year?

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My co-worker was approved for the Quicksilver One MasterCard with a $3K credit line and is in the credit steps program. The increase would be another $500. I wonder if they would give a larger increase.

[Anonymous]

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@sjt wrote:

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@Anonymous wrote:

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@Anonymous wrote:

That is false.

I did not have good or excellent scores whatsoever. I applied for the regular qs, instant approval with $1,000 liimit, and guaranteed increase to $1,500 after 5 timely payments from credit steps. My card does NOT say qs one, it is a Visa. No annual fee. And...I grew tired of waiting for the 6 month mark, hit luv button, instant $2,000 increase to $3,000.

Folks...if you are applying and are scared, then apply for multiple capital one products at once....right?

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How long ago was this when you applied? I'm assuming that the credit steps may have only been for people with low initail credit limit such as below $3000. Reason is because a friend of mine apply for the quicksilver visa and her limit was $3000 and she didn't get the credit steps program. This was only about 4 months ago. maybe capital one's term have changed this year?

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My co-worker was approved for the Quicksilver One MasterCard with a $3K credit line and is in the credit steps program. The increase would be another $500. I wonder if they would give a larger increase.

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Yes. Ignore credit steps. After they make 5 timely payments, have the person request a CLI online. You will be surprised. I used mine for everything and made tons of payments every month.... was suppoed to only go up $500 but went $2000

[Saleen099]

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@Anonymous wrote:

First, I would like to say that these are information I got from Capital One's website and applies mainly for people who are planning to get a credit card from Capital One, not for the folks who have already have an account with Capital One.

Some people are getting the QuickSilver-One (MasterCard) and QuickSilver (Visa) cards mixed up. QuickSilver-One (MasterCard) is for people with bad / fair credit while QuickSilver (Visa) is for people with good / excelllent credit. Even with that said, Capital One's definition of Bad/Fair/Good/Excellent seems to be different from other companies.

From their Rates & Disclosures information section:

QuickSilver-One (MasterCard)

How Do You Determine My Credit Line?

We will determine your credit line after a review of your application and your ability to pay. If your application is approved, the minimum credit line you will receive is $300.

QuickSilver (Visa)

How Do You Determine My Credit Line?

We will determine your credit line after a review of your application and your ability to pay. If your application is approved, the minimum credit line you will receive is $3,000.

If you were approved and had a credit limit less than $3,000; then you had applied for the QuickSilver-One (MasterCard). Credit Steps program offer by Capital One is only available for "Fair Credit" credit cards such as the QuickSilver-One (MasterCard), not for the QuickSilver (Visa). In my opinion, I think that if your initial credit limit is already high enough, for example, $3,000 then you won't get credit steps.

 - If you want the QuickSilver (MasterCard), you'll have to get the QuickSilver-One (MasterCard) first. After some time, you can ask for a product change and convert your QuickSilver-One to a QuickSilver. Capital One does not convert MasterCard to Visa and vice versa.

These are just some information I found out in the past few months. If there are information I may have missed, please let me know and I'll add them to the original post. If you think I am wrong with some of the information here, please let me know as well. Thanks.

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 Quick question I had a CSR today told me that I can go from the MasterCard to the visa signature that was the offer that pulled up as anybody else had this happen? Also my new card  Will arrive in 7 to 10 business days. 

[Anonymous]

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@Saleen099 wrote:

Quick question I had a CSR today told me that I can go from the MasterCard to the visa signature that was the offer that pulled up as anybody else had this happen? Also my new card  Will arrive in 7 to 10 business days. 

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That is werid because one of the rep told me you can't go from MC to VISA or VISA to MC. Are you sure she didn't mean applying for another one?

I don't know what to believe anymore lolz.

[sjt]

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@Anonymous wrote:

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@sjt wrote:

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@Anonymous wrote:

---

@Anonymous wrote:

That is false.

I did not have good or excellent scores whatsoever. I applied for the regular qs, instant approval with $1,000 liimit, and guaranteed increase to $1,500 after 5 timely payments from credit steps. My card does NOT say qs one, it is a Visa. No annual fee. And...I grew tired of waiting for the 6 month mark, hit luv button, instant $2,000 increase to $3,000.

Folks...if you are applying and are scared, then apply for multiple capital one products at once....right?

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How long ago was this when you applied? I'm assuming that the credit steps may have only been for people with low initail credit limit such as below $3000. Reason is because a friend of mine apply for the quicksilver visa and her limit was $3000 and she didn't get the credit steps program. This was only about 4 months ago. maybe capital one's term have changed this year?

---

My co-worker was approved for the Quicksilver One MasterCard with a $3K credit line and is in the credit steps program. The increase would be another $500. I wonder if they would give a larger increase.

---

Yes. Ignore credit steps. After they make 5 timely payments, have the person request a CLI online. You will be surprised. I used mine for everything and made tons of payments every month.... was suppoed to only go up $500 but went $2000

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Thanks for the reply.

What was your initial credit line before you got the $2k increase and did you call to request the credit line?