Quicksilver One Question

[Anonymous]

I was approved for the Quicksilver One card back in April with a $300 SL (increased to $400 in June) and the $39 AF. This past July I was approved for the Amex Delta Gold ($1k SL) and Amex Everyday ($500 SL). I have unofficially started gardening as I had a few more medical collections pop up on my reports that need to be taken care of.

My question; is it worth keeping the Quicksilver One after the first year and paying the AF for 1.5% back? Is it worth contacting Capital One next month (September) to see if I can PC the card? What can I PC the card too?

I know it's still early but I like to have a plan. We are buying a house this fall and purchasing a new car for my wife (baby #3 on the way and two sedans isn't going to cut it anymore) next year.

Any input is greatly appreciated. 

[pinkandgrey]

Personally I would just close it as soon as you can get a better card. But if you really can’t/don’t want to do that, I would definitely look into PC if possible. Good luck! 

[HeavenOhio]

Given the marginal AMEX approvals, I think gardening is a good idea. You're going to eventually want to PC or close the QS1. But if you feel a benefit to keeping the card in the short term, sucking up an annual fee for another year shouldn't be considered a big deal.

QS1s are notoriously hard to PC. But there's evidence that consecutive months of usage may coax an offer. I was able to PC two QS1s after 12 or 13 consecutive months of usage. Using the card once each month and paying as soon as you'd like is fine. There's no need to charge a lot, and there's no need to generate positive statement balances.

Once the card is about six months old, call in every month to see if you have upgrade offers. That's probably too soon, but it's a good time to get the ball rolling.

[Anonymous]

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@HeavenOhio wrote:

Given the marginal AMEX approvals, I think gardening is a good idea. You're going to eventually want to PC or close the QS1. But if you feel a benefit to keeping the card in the short term, sucking up an annual fee for another year shouldn't be considered a big deal.

QS1s are notoriously hard to PC. But there's evidence that consecutive months of usage may coax an offer. I was able to PC two QS1s after 12 or 13 consecutive months of usage. Using the card once each month and paying as soon as you'd like is fine. There's no need to charge a lot, and there's no need to generate positive statement balances.

Once the card is about six months old, call in every month to see if you have upgrade offers. That's probably too soon, but it's a good time to get the ball rolling.

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At the moment I don't feel any benefit of the card. All of my spend has been on my Discover It for resturaunts this quarter, my Amex Everyday for groceries or my Amex Delta Gold card for everything else for the bonus. 

I don't plan on closing it at the moment because I have already paid the AF, but will start calling for PC options next month. At this moment, I don't see a benefit for any CapOne card with a small limit as it seems challanging to get a CLI.

But thanks for the info.

[ralvarez2678]

it took me 2 years to upgrade from the QS1 with an annual fee to the one without. after the 1st year i called to see if i could upgrade but wasn't able to but they did waive the annual fee. 2nd year i tried and was upgraded to QS w/out the annual fee. started off with a $500 CL and i'm at $8K on it granted i've haven't had another CL increase in over a year now but i'm happy with my card.

[Brian_Earl_Spilner]

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@ralvarez2678 wrote:

it took me 2 years to upgrade from the QS1 with an annual fee to the one without. after the 1st year i called to see if i could upgrade but wasn't able to but they did waive the annual fee. 2nd year i tried and was upgraded to QS w/out the annual fee. started off with a $500 CL and i'm at $8K on it granted i've haven't had another CL increase in over a year now but i'm happy with my card.

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I currently call in and have the AF waived every year. The only reason I keep it open is I'm hoping they bring back account combinations soon.

[Anonymous]

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@ralvarez2678 wrote:

it took me 2 years to upgrade from the QS1 with an annual fee to the one without. after the 1st year i called to see if i could upgrade but wasn't able to but they did waive the annual fee. 2nd year i tried and was upgraded to QS w/out the annual fee. started off with a $500 CL and i'm at $8K on it granted i've haven't had another CL increase in over a year now but i'm happy with my card.

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Maybe I will just call and ask them to waive the fee and cancel when the decide not to. I don't put enough spend on the card to ever see an $8k limit, plus my SL was $300 so I may be stuck regardless.