More Capital 1 Frustration

[CH-7-Mission-Accomplished]

Thanks to all who posted about Capital 1's new retrenchment in light of COVID and the economy.    I just got off a call with some very pleasant people (CSR & supervisor) that made me make another double martini.

My husband has had a Cap 1 card since 2003.   The limit was 50.7K for at least the last 10 years.   They recently chopped the limit to 20K, which is no problem since he has about 300K in CC limits and several at 50K.   His card is the regular Venture card, although for many, many years it was a Quicksilver (1.5% cash back no annual fee).   At some point I upgraded it to a regular Venture.

I have a Venture card with a 50K limit (due to multiple account combos over the years -- and many 1000s in bonuses) that somehow survived any chop.   

We both also had Savor cards with 30K limits, which were assigned at opening.   I think we got $500 bonuses for each of these cards.  After reading about Cap 1's sudden streak of parsimony, I decided to just close the two 30K savors.   We don't eat out much with COVID and don't go to the theater or any live shows or theater anymore.   I only opened the two Savor cards to get the $500 bonuses.

So I called tonight to change my 50K Venture to a regular Quicksilver (no fee, 1.5% cash back) card since we are doing no travel at all.   It was no problem.   They changed it.

Then I called back to change his (formerly 50.7K) and now 20K Venture card to a regular Quicksilver, or worst case a Quicksilver 1, and the CSR said there were "no offers" to change it.   I wonder if that's because of the new lower 20K limit from the former 50.7K limit?

I talked to a nice supervisor, who spent 10 minutes checking and told me the same thing.   No product changes available.

What do you think gives with his card?   I would close it except it dates from 2003.   He has never had a late and all three of his FICO 8's are perfect 850 scores.

I'm just so annoyed.   The card started as a Quicksilver no fee.   Why can't I have that back????

Thoughts my friends?

[FieryDance]

I literally just downgraded my husband's Venture of similar CL to a QS through the product change link.  As quick and easy as it can be.  Maybe you can try the link and see if it works for you too?  

https://verified.capitalone.com/sic-ui/#/esignin?Product=Card&Action=ProductUpgrade

Cap One can be somewhat sporadic when it comes to product change.  Kind of like Barclays.  The only thing I can think of is maybe you upgraded it very recently and it needs a few months to be eligible to another product change. 

[blindambition]

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@CH-7-Mission-Accomplished wrote:

Thanks to all who posted about Capital 1's new retrenchment in light of COVID and the economy.    I just got off a call with some very pleasant people (CSR & supervisor) that made me make another double martini.

My husband has had a Cap 1 card since 2003.   The limit was 50.7K for at least the last 10 years.   They recently chopped the limit to 20K, which is no problem since he has about 300K in CC limits and several at 50K.   His card is the regular Venture card, although for many, many years it was a Quicksilver (1.5% cash back no annual fee).   At some point I upgraded it to a regular Venture.

I have a Venture card with a 50K limit (due to multiple account combos over the years -- and many 1000s in bonuses) that somehow survived any chop.   

We both also had Savor cards with 30K limits, which were assigned at opening.   I think we got $500 bonuses for each of these cards.  After reading about Cap 1's sudden streak of parsimony, I decided to just close the two 30K savors.   We don't eat out much with COVID and don't go to the theater or any live shows or theater anymore.   I only opened the two Savor cards to get the $500 bonuses.

So I called tonight to change my 50K Venture to a regular Quicksilver (no fee, 1.5% cash back) card since we are doing no travel at all.   It was no problem.   They changed it.

Then I called back to change his (formerly 50.7K) and now 20K Venture card to a regular Quicksilver, or worst case a Quicksilver 1, and the CSR said there were "no offers" to change it.   I wonder if that's because of the new lower 20K limit from the former 50.7K limit?

I talked to a nice supervisor, who spent 10 minutes checking and told me the same thing.   No product changes available.

What do you think gives with his card?   I would close it except it dates from 2003.   He has never had a late and all three of his FICO 8's are perfect 850 scores.

I'm just so annoyed.   The card started as a Quicksilver no fee.   Why can't I have that back????

Thoughts my friends?

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They weren't giving incorrect info. Upgrades aren't always available. Check in a couple of weeks, or keep checking here 

[OmarGB9]

Perhaps the CLD counts as a "change" to the account, and so now it's ineligible for any more "changes" for 6 months. That's the only thing I can think of.

[CH-7-Mission-Accomplished]

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@OmarGB9 wrote:

Perhaps the CLD counts as a "change" to the account, and so now it's ineligible for any more "changes" for 6 months. That's the only thing I can think of.

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I think you are spot on.   It occurred to me as well.   Even though it was a change initiated by them (without provocation from us).   Oh well the fee is pain until May.   I'll check back at renewal time or at least ask for a fee waiver.

[kdm31091]

Capital One does not really work like some banks where they can manually do a product change for you whenever you request it. With C1 there has to be an "offer" loaded on your account or you will not be able to do a product change. I don't think a supervisor has any more say with it. It's either loaded into your account or it's not. I would just keep trying periodically.

Capital One is just a very automated lender and there is very little human disrection with anything they do for your account.

[Anonymous]

I don't think that's the case. Only because I recently got a cli, and a month later upgraded to the regular QS.