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Quicksilver One

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Quicksilver One

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?

Starting FICO 8 as of 2 APR 2019

FICO 8 as of 10 OCT 2019

FICO 9 as of 2 APR 2019

Goal 700 across the board by 7/2021
Message 1 of 10
9 REPLIES 9
Established Contributor

Re: Quicksilver One

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.
Starting Score: EX 641 TU 631 EQ 669
Current Score: EX 714 TU 718 EQ 713 (EQ9 735)
Goal Scores: 750


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Message 2 of 10
Frequent Contributor

Re: Quicksilver One

That's completely up to you. They're kind of a weird lender in that they'll keep some low then others they'll give them random CLI out of nowhere. I've seen some people stuck at $500 after steps and others get $2000 CLI after steps and random ones there after.

I personally wouldn't close it but use it every so often for small things. Some people put simple things such as Hulu or Netflix on it
November 2019
Experian Fico 08 660
Equifax Fico 08 682
Transunion Fico 08 670

Capital One QS $600
Credit One $300 (soon to close)
Capital One QS1 $750
Discover $11,500
PNC Cash rewards Visa $12,500
Chase SW Rapid Rewards Visa $6900
All accounts opened between Oct 2018 - Nov 2019

Income varies : $60,000 - 80,000
Message 3 of 10
Established Contributor

Re: Quicksilver One

I am bucketed with this card. I just put our gym stuff on it and use it online. That way, I don't have my 10 and 15k cards on there all the time.
I would not close it before a year is up. Redeeming the cash back is easier than some large banks.
Message 4 of 10
Regular Contributor

Re: Quicksilver One

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.

Starting Scores: Experian: 498 Equifax: 521 Transunion: 514
BK Filed: 06/19/17 - BK Discharged: 09/28/17
Current Score: Experian: 637 Equifax: 626 Transunion: 630
3/29/19

NFCU nRewards = $2,000 (unsecured at month 5); Capital One QuickSilver $2,000; Victoria Secret - $470; New York & Co - $800; Children's Place - $600.
Message 5 of 10
Regular Contributor

Re: Quicksilver One


@XtraCredit 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.

Starting FICO 8 as of 2 APR 2019

FICO 8 as of 10 OCT 2019

FICO 9 as of 2 APR 2019

Goal 700 across the board by 7/2021
Message 6 of 10
Valued Member

Re: Quicksilver One

My QS was PC'd from a Platinum but perhaps this datapoint will help with your decision:

 

  • In May 2007, I was approved for a Platinum with a $300 CL (or $500, I don't remember anymore).
  • Several months later, my CL was automatically increased to $750 (where it remained for over 8 years).
  • In May/June 2016, my CLI request was approved, increasing my CL to $2,250.
  • In Nov/Dec 2016, my PC request to QS and my 2nd CLI request were both approved, increasing my CL to $3,750.
  • In June 2018, my CL was automatically increased again to $6,750. That same month, my Visa Platinum was automatically upgraded to a Visa Signature.

I hope this helps. Good luck!

Message 7 of 10
Community Leader
Senior Contributor

Re: Quicksilver One

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.

Message 8 of 10
Regular Contributor

Re: Quicksilver One


@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.

Starting FICO 8 as of 2 APR 2019

FICO 8 as of 10 OCT 2019

FICO 9 as of 2 APR 2019

Goal 700 across the board by 7/2021
Message 9 of 10
Community Leader
Senior Contributor

Re: Quicksilver One

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? Smiley Happy

Message 10 of 10
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