Should I accept this Cap One Increase?

[Anonymous]

So I have a Cap One regular QuickSilver card currently at $4500. I went online for my 6 month CLI a week ago and they offered $500. Today I checked and they offered $1000. My question is two fold. Should I wait a few days/weeks and try again? Also, if I do go over $5000 should I ask for a upgrade to a world elite mastercard or world mastercard?

Thanks peeps!

[Anonymous]

I'm willing to bet unless you can increase your score by lowering util or something then the 1000 is pretty good but thats the most I've ever gotten so who am I to say.

how long have you had the card? I'm sure if the line is 5,000+ and its over a year old and your average FICO is over 700 you're pretty golden to get the WMC,

is this a QS1? cause if it is already a No annual fee QS mastercard idk how they upgrade them from there.

[OmarGB9]

$1k is on the high end of CLIs, so I'd say go for it. Occasionally people get more, but not very often.

As to your second question, upgrading to WMC/WEMC is more of a pain than it's worth. Would you actually utilize the benefits? I ask because a lot of people want the upgrade simply for the shiny logo lol and not the actual benefits.

[Anonymous]

Thanks for the reply. I have had the card since 09/15/14. It started as a Quicksilver One at $300 limit. I got increase to the current $4500 and 2 months ago they upgraded it to the Regular Quicksilver with no yearly fee. 

I guess the $1000 is decent. And my utilization is about 15 percent or so. 

[takeshi74]

What do you perceive as the benefit of waiting and not accepting the CLI?

Do you anticipate any signficant improvements to your credit profile that would merit a larger CLI?

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@Anonymous wrote:

Also, if I do go over $5000 should I ask for a upgrade to a world elite mastercard or world mastercard?

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Your call to make based on how usefule the benefits of those tiers would be to you.  I see little use of tier-specific benefits.  My highest limit card is just a plain old Platinum Visa.  Some think that the tier is a sign of progress.  If you're one of those it's up to you as to how important that is to you.

[bourgogne]

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@Anonymous wrote:

Thanks for the reply. I have had the card since 09/15/14. It started as a Quicksilver One at $300 limit. I got increase to the current $4500 and 2 months ago they upgraded it to the Regular Quicksilver with no yearly fee. 

I guess the $1000 is decent. And my utilization is about 15 percent or so. 

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If your util is 15% on that card then that might be why they are only offering 1K.  If that card was clean and you used it a lot you would see a better cli imo.  It sucks to have lower cls and then deal with trying to achieve higher ones.  I know this first hand lol.  Your scores are solid so in short time you should be able to get it all but util is a huge factor

[Anonymous]

Ya your right the $1000 I would not really use anyways. It is pretty good. For the WMC I thought it came with extra vacation protection and insurance and also better fraud protection and extra purchase protection. 

[UncleB]

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@Anonymous wrote:

Ya your right the $1000 I would not really use anyways. It is pretty good. For the WMC I thought it came with extra vacation protection and insurance and also better fraud protection and extra purchase protection. 

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My last few CLIs have each been for $1k, which for my amount of usage (which at the moment is light) I felt was very fair, so I accepted it.  While there's always a chance that the offer could change, the way I choose to approach it is that the sooner I accept a CLI, the sooner the next one will come around. 

As for the WMC upgrade, that's generally personal preference.  If you do a PC with a credit line of $5k or higher, the new card is usually a WMC by default (at least historically from other's experiences).  Like you, I got the PC to a 'regular' QS with a credit line under $5k, so I got the regular/platinum level MasterCard as well. 

Some folks have done a PC to a Venture One once their credit line is $5k or greater to get the WMC designation, with the intention of PC'ing back to a QS later on.  This is a reasonable approach, but Capital One will only allow a PC every six months, so you would lose a small amount of rewards (1.5% vs. 1.25%) plus the redemption for Venture One isn't as straight-forward as the QS.  If getting a WMC is that important the hassle might be worth it.

I'll also add that a few folks have had success getting the EO to do an upgrade from Visa to Visa Signature once their credit line was $5k or greater, but YMMV (I would think MasterCard to World MasterCard would be similar).  From what I recall it can be quite a hassle if you go this route.  It seems that a upgrade of that type isn't very common, so it might be a challenge getting to someone who can help you (even within the EO). 

Good luck whatever you decide! 

[UncleB]

Here's a link to a thread that has some good (recent) data points for Capital One upgrades from Visa to Visa Signature and MasterCard to World Mastercard. 

http://ficoforums.myfico.com/t5/Credit-Cards/Less-Hassle-to-upgrade-your-CapOne-card-to-Signature/td...

[bk510]

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@Anonymous wrote:

So I have a Cap One regular QuickSilver card currently at $4500. I went online for my 6 month CLI a week ago and they offered $500. Today I checked and they offered $1000. My question is two fold. Should I wait a few days/weeks and try again? Also, if I do go over $5000 should I ask for a upgrade to a world elite mastercard or world mastercard?

Thanks peeps!

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I recently took their 1k CLI on my 3 months old QS VISA, SL 3k.

On a side note, received 3k CLI on my Sony Card few months ago as well.( Not to shabby for a card that grows slow as snail.)