My Capital One platinum is my oldest / first card. $750 limit after 10 years (
), $29 grandfathered in annual fee (card has been advertised as no AF for YEARS). Every year I ask them to waive the AF or product change to Quicksilver and they refuse. I filed a CFPB complaint and got a canned response. Is there a secret to getting a product change with a bucketed card? Should I just start maxing it out and paying it off in full every month? If there's no possible way, I will just close it. Thanks for the help!
There's no guaranteed way. All you can do is keep asking, and checking the upgrade link floating around here on the forums and hope you get an offer.
Close it. After a while I finally shut my card down. It wasn't worth the frustration.
It'll stay on your report for at least 10 years anyway.
Managing a $750 credit limit is just wasting your time at this point when you can get much higher limits elsewhere.
Good luck
Last Inquiry 12/23/2022 Ally Bank Mortgage
@1LostArk Open Capital One's webpage and log into your account. On the main page where it shows your accounts, click "view account" on your Platinum to open it to the account details page. Click on the web address bar and look at the full address, it should end with an = symbol. After the =, type /productupgrade and click enter. If the online system is able to process the upgrade, this is the most effecient way of getting it to show up. If this doesn't work, its likely due to your older account type and there may be no way around it. Good luck, and let us know how it pans out.
@Ficoproblems247 wrote:@1LostArk Open Capital One's webpage and log into your account. On the main page where it shows your accounts, click "view account" on your Platinum to open it to the account details page. Click on the web address bar and look at the full address, it should end with an = symbol. After the =, type /productupgrade and click enter. If the online system is able to process the upgrade, this is the most effecient way of getting it to show up. If this doesn't work, its likely due to your older account type and there may be no way around it. Good luck, and let us know how it pans out.
Says upgrade "no longer available." Does this mean the card is permanently bucketed? A Capital One rep did tell me to periodically check for upgrades, but maybe that's just BS to keep harvesting fees from me?
@1LostArk wrote:
@Ficoproblems247 wrote:@1LostArk Open Capital One's webpage and log into your account. On the main page where it shows your accounts, click "view account" on your Platinum to open it to the account details page. Click on the web address bar and look at the full address, it should end with an = symbol. After the =, type /productupgrade and click enter. If the online system is able to process the upgrade, this is the most effecient way of getting it to show up. If this doesn't work, its likely due to your older account type and there may be no way around it. Good luck, and let us know how it pans out.
Says upgrade "no longer available." Does this mean the card is permanently bucketed? A Capital One rep did tell me to periodically check for upgrades, but maybe that's just BS to keep harvesting fees from me?
Nah, it just means your card isn't able to be PDd. My VentureOne started life as a QS1. I had to call CSR to have it PCd the first time because the online system was saying the same thing for me as what you are receiving. This is probably because QS1 is notoriously difficult to be able to change. Luckily for me they were indeed able to PC the card. Since then, I've been able to use the online trick I posted to PC that same card two more times over the years. A couple of weeks ago I PCd my QS to a V1, and my Savor to a QS. I did this back to back within about a 2 minute span, so I know that this method is alive and working. The message you are getting is what I get right now when I try to request another PC, which is because my two cards with them will not be eligible for 181 days from when I just changed them a couple of weeks ago. I don't use my V1 at all, but I keep it open because it is my oldest account and obviously has no AF. If I were in your shoes and was paying that $39, I would strongly consider closing 'er down. I certainly understand the frustration of closing an account that old though!
@BearsCubsOtters wrote:
@1LostArk wrote:
@Ficoproblems247 wrote:@1LostArk Open Capital One's webpage and log into your account. On the main page where it shows your accounts, click "view account" on your Platinum to open it to the account details page. Click on the web address bar and look at the full address, it should end with an = symbol. After the =, type /productupgrade and click enter. If the online system is able to process the upgrade, this is the most effecient way of getting it to show up. If this doesn't work, its likely due to your older account type and there may be no way around it. Good luck, and let us know how it pans out.
Says upgrade "no longer available." Does this mean the card is permanently bucketed? A Capital One rep did tell me to periodically check for upgrades, but maybe that's just BS to keep harvesting fees from me?
With anything, this is subject to change. I do not think they are purposely disallowing a product change to glean $29 from you each year.
I want so badly to tell you that Capital One is garbage and how I wish they would be bought by another bank. That is a personal opinion. Truth is, Capital One is the best rebuilder/builder bank out there. They are generally transparent and fair. But they have a counterintuitive business model in that their rebuilder (bucketed) cards for the most part do not improve as the cardholder's credit improves. It is almost as if they want you to close the account after a while.
As tparks suggested, I would just let this one go. Unless Capital One's business model changes (doubtful) it is unlikely that this card will ever improve. The account will report up to 10 years from closed and by the time it falls off the bureaus, your other cards will have aged nicely to soften the blow.
I agree 100% that Cap1 is the best out there to build with as long as you know what to expect from them during the various stages of your credit journey. What they will approve for someone with a 580 credit score and someone with a 780 credit score are two completely different products. If you would like some really good insight on how their (and other's) rebuilder cards are backed, and why they don't grow I would check out this post. It is super informative.
