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So from what I have read on the forums, CapOne likes to bucket cards so they become useless. I currently have a QS1 card with a 1,500 limit after the credit steps. Is it worth it for me to keep using this card and hope I can upgrade it later or sock drawer as I have an NFCU CashRewards card now to focus on which I know will grow with use if I take care of it?
I would keep the card. I was able to PC the Quicksilver One to the no AF Quicksilver after eight months. I PIF every month and they have been good to me. I think YMMV with this one because Capitol One is a very different lender.
@Anonymous wrote:
It's best not to close it before a year.
Also, what other cards do you have?
Is this your oldest?
Note that when you close it that your uti will be effected.
Depending on your other factors, I would keep it open until I had at least 3 other cards.
Currently, I have a CapOne QS1 and while I don't love it, I'm keeping it for now because it's fulfilling a purpose.
I wasn't super strategic when I began but I have this card now.
When my QS1 hits about a year than I will be in the right window for a Chase card (I got too many cards during a one year window).
Think strategy.
It's not my oldest or worst, just kind of planning for the future. My oldest unfortunately is a First Premier card sooooo there's that. I plan to close out all my sub-primes in about 2 years after I have has some building on NFCU and all my derogs fall off in the next few months.
It will likely be sock drawer material soon as the Cash Rewards eclipses it but was wondering if anyone else has experience "getting out of the bucket" so to speak. Ideally even to a regular Quicksilver once my profile allows so I can lose the AF. I have a Platinum also that has no AF so there's that.
My QS was PC'd from a Platinum but perhaps this datapoint will help with your decision:
I hope this helps. Good luck!
If you're hoping for an upgrade offer, don't sock-drawer the card. Use it each and every month. It doesn't have to be for much, and your statement doesn't have to cut with a positive balance.
Call in each month and ask if any upgrades are available. Don't be discouraged if they're not. Try again the next month.
I was able to PC two QS1s after 12 or 13 consecutive months of usage. Most people who've been successful have indicated that they've been using the card regularly.
If you're offered an upgrade to a no-fee card, take what's offered. Don't be picky. Once you have the no-fee card, you're likely to start getting other offers a few months down the road.
@HeavenOhio wrote:If you're hoping for an upgrade offer, don't sock-drawer the card. Use it each and every month. It doesn't have to be for much, and your statement doesn't have to cut with a positive balance.
Call in each month and ask if any upgrades are available. Don't be discouraged if they're not. Try again the next month.
I was able to PC two QS1s after 12 or 13 consecutive months of usage. Most people who've been successful have indicated that they've been using the card regularly.
If you're offered an upgrade to a no-fee card, take what's offered. Don't be picky. Once you have the no-fee card, you're likely to start getting other offers a few months down the road.
Thanks, this helps. I will probably call in next month since it'll hit its 8th month open. From there I'll also have all my PFDs removed (30 days will have passed so hopefully all the CRAs update).
Worst case I'll stick my Final Fantasy XIV sub on it since it's a monthly recurring cost then try again in a few months lol.
I'd call in or chat every month. You don't want to risk the possibility that an offer would appear and then go away. I know of no evidence that that happens. But with a QS1, why risk it?