Quicksilver fee

[Anonymous]

Hi All,

Hope you're enjoying your summer. Haven't been on for awhile, but a lot to be thankful to this group for. I was able to purchase a home last year, which was my main goal, so have been steadily paying down debt accrued because of home purchase and am on track to be credit card debt free by end of year with the exception of one 0% interest balance that I'll pay off before interest kicks in Sept. 2022. So now I'm evaluating my credit card portfolio and I have several good ones. One of my first cards was Cap1's Quicksilver. I don't remember what limit I started with, but the limit is currently $6500. I don't know how much more it will grow. I asked for an increase this year and got $500, taking it from $6000 to $6500. The only previous limit increase was an auto increase. I think it went from $3000 to $6000, but honestly, I'm not sure. Anyway, my question is if anyone has had any luck getting the annual fee waived. This card gets a fair amount of spend. I reserve it as a card for car repairs and this year, the car has needed a lot. The current balance is $498 and I'll pay that off by month's end and hope nothing else goes wrong with the car, so I can sock drawer it. Prepandemic, the spend on the card was not limited to the car and again got a fair amount of spend between restaurants and vacation. I like the card fine and since it's one of my oldest, I wouldn't close it or anything, but it's my only card with an annual fee and I'd really love not to pay the $39 a year. Has anyone had any luck getting this fee waived? Is it even an option for this card? To note, the APR is 23.49%. I do have another Cap1 card: Savor. It's been at a zero balance for months. I used it in Jan for a car thing (see, I told you the car needed a lot this year) just because it hadn't been used months before that and I try to use dormant cards once every six months. I paid it off right away. There's no annual fee for this card, but the limit is only $3500 and the APR is 22.74%. I don't have hopes it will grow because I don't really use it. I had thought it would be my vacation card, but the pandemic took care of that. Would it be possible to combine the two Cap1 cards? Retain my credit history for the Quicksilver, up the limit and lose the fee? Do I want too much? Thanks for any advice. 

[Anonymous]

It sounds like you have a QuicksilverOne ($39 AF) not a Quicksilver (no AF). You would need to ask Capital One if there are any options to upgrade/product change your card from a QuicksilverOne to a Quicksilver.

[Anonymous]

Ah, thanks. I didn't know there were two versions of the card. 

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@Anonymous wrote:

It sounds like you have a QuicksilverOne ($39 AF) not a Quicksilver (no AF). You would need to ask Capital One if there are any options to upgrade/product change your card from a QuicksilverOne to a Quicksilver.

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[chiefone4u]

Upgrading if Capital One is willing to allow it would solve it like @Anonymous suggested.

If Capital One doesn't have an upgrade available for you, I have been successful in calling and having the annual fee reversed the last four year's in a row.

You have to wait until the annual fee post's to the account before you can request they waive the fee. As always this is a YMMV situation. 

[Anonymous]

Ah, thanks. Didn't know that was an option either. Does anyone know if the the QuickSilver One card tops out at $6500? Is this why the card seems not to be growing for me? This and the Savor card are now two of my lowest limits. 

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@chiefone4u wrote:

Upgrading if Capital One is willing to allow it would solve it like @Anonymous suggested.

If Capital One doesn't have an upgrade available for you, I have been successful in calling and having the annual fee reversed the last four year's in a row.

You have to wait until the annual fee post's to the account before you can request they waive the fee. As always this is a YMMV situation. 

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[rbentley]

I also had the QS1 with the $39 annual fee. Because it was significantly my oldest card I kept paying it. Several requests to waive the annual fee were denied, then one was granted and when I asked for a waiver the following year it was denied. No upgrades or product changes were available to me despite checking every 3 to 4 months over a couple of years. I closed the card. I do like Cap one, but 1.5% cash back card is pretty ordinary. I don't regret my decision to close the card, I haven't lost any cash back and I saved $40 every year just by not having it.

[Yankee2]

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@Anonymous wrote:

Ah, thanks. Didn't know that was an option either. Does anyone know if the the QuickSilver One card tops out at $6500? Is this why the card seems not to be growing for me? This and the Savor card are now two of my lowest limits. 

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@chiefone4u wrote:

Upgrading if Capital One is willing to allow it would solve it like @Anonymous suggested.

If Capital One doesn't have an upgrade available for you, I have been successful in calling and having the annual fee reversed the last four year's in a row.

You have to wait until the annual fee post's to the account before you can request they waive the fee. As always this is a YMMV situation. 

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The Quicksilver One, from what I've read on this forum, seems to be a card that doesn't grow much. In fact the $6,500 limit is more than most from what I've seen here. (could be wrong)  It's classified more of a starter card.

I wouldn't close the Savor (you didn't mention a AF for that one, so it's a Savor One or a grandfathered Savor)  Either one is a pretty decent card. Savor is 4% dining and 3% groceries. Savor One is 3% dining and groceries. Not bad for a no-AF card. 

Between the two you have, I would think the Savor has the highest chance for growth. 

As others have already stated, a PC to Quicksilver (if possible) is a must.

[ficosuave]

Try this upgrade link.

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

If the link doesn't work for you, try logging into your Capital One account, clicking on your card, and adding "/productupgrade" (without the quotes) at the end of the URL in the address bar.

[Anonymous]

Thanks, all. I just called Cap1 and was able to upgrade to the no AF Quicksilver. Thanks for the advice. The customer service rep actually said I was also eligible to upgrade to the Venture card with or without the AF, but I like my Jetblue card for miles, so I passed. The rep also advised I've passed the six month mark to request a soft pull limit increase. I'm going to wait on that until my Overstock card reports my recent payment. I've paid it down by $1000 to a little over $400. That's another that will be paid off at month's end. And thanks for the insight in the Savor card. I have the Savor One card; there's no AF, but perhaps I should think about using it more for restaurants at least. I use my Amazon Chase card for groceries and a general weekend card. 

[Anonymous]

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@Anonymous wrote:

Thanks, all. I just called Cap1 and was able to upgrade to the no AF Quicksilver. Thanks for the advice. The customer service rep actually said I was also eligible to upgrade to the Venture card with or without the AF, but I like my Jetblue card for miles, so I passed. The rep also advised I've passed the six month mark to request a soft pull limit increase. I'm going to wait on that until my Overstock card reports my recent payment. I've paid it down by $1000 to a little over $400. That's another that will be paid off at month's end. And thanks for the insight in the Savor card. I have the Savor One card; there's no AF, but perhaps I should think about using it more for restaurants at least. I use my Amazon Chase card for groceries and a general weekend card. 

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That's good, because I was also in the camp of close if they didn't do that!  $39 on 1.5% card isn't worth it, regardless of eventual score impact.