Upgrade for free or wait to apply?

[jellyroll2]

So I've had a Cap One Quicksilver card for years (already product changed to a QS from a basic card before). I've now gotten an email from CO offering to upgrade this card to a Venture card. Now this is great as I did want a Venture (or a Venture X) at some point. But the upgrade offer doesn't come with any miles attached to it. I'd just be able to upgrade it and would't have to take the credit hit to do it. 

However I am about to purchase a home so I can't apply for any new credit for at least a couple more months. So I can't apply for the card now and get a SUB. I don't need the Venture right now but it would be a good travel card to have (already have an Amex Plat and Citi Premier).

So my choice is to wait, eventually take the triple inquiry but get the SUB (and risking either a higher or lower limit) OR I can just upgrade the current card and let the SUB go.

I have multiple cash back cards already, including a Chase FU which also earns 1.5% so it's not like I need the QS. However the QS would be my only cashback card I can use overseas (no FTFs). 

If you were in my shoes, what would you do? Not asking any of you to tell me what to do? Just want insight on how others might handle (yes, I know everyone's situation is different). 

[Hoben02]

I think like most new homeowners once the house closes that's only the start, then you start finding out the warts and what you need to furnish. Just wait until after the home closes so you can get the bonus which you can game the bonus to pay for hosing expenses by putting a single travel expense on the card and offsetting it multiple times

[SouthernCredit]

Rumor is the SUB for Venture X is going to drop down soon, so it may not be as lucrative in a few months. Since you already have a relationship with Chase, I would just wait until closing and look for a CSP or another travel card. With a reduced SUB, I don't think Venture or VX is worth the triple pull. If you just want the upgrade without the SUB, upgrade now to have the no FTF card.

[jcooks]

If you upgraded from Platinum to a QS, is the card bucketed?  I've upgraded my Platinum to a Quicksilver and it was surely bucketed.  I would recommend waiting and then applying for a new card rather than upgrading this.  

[jellyroll2]

Thanks all!

The card was bucketed for a loooong time but just in the past year they've given me an auto CLI from $5k to $10k. So I think it no longer is. Or at least is at a higher limit.

Yeah, I'm also seeing word that the SUB for the VentureX will be dropping and if it does I definitely wouldn't risk the triple pull for it even after closing. I could just apply for the CSP or CSR after closing but those cards don't seem worth it to me as the only time you get the 5x earnings are through the portal, which might be fine for flights but suck for hotels as I have status. If the SUB for the CSP ever goes back up to 100k then I'd go for it.

Yeah, I'm thinking I'll just leave it as a QS, not do the upgrade and then see where everything is after the house closes. We already know of some things we'll need to buy as it's a new house so if any of the card issuers have goods SUBs going on then, I'll apply and try to hit that.

[xenon3030]

You should first close the home purchase. Afterward, estimate how much you need to spend on e.g. home improvements, appliances, furnitures. If the new home would be in excellent status and does not require immediate repairs, you may go with a few cards with high SUB and high rewards in the category of your interest e.g. cashback or travel rewards. If you expect several large purchases over time, you may go for co-branded cards like Lowe's and HomeDepot.

I purchased one home last year and afterward, I got CSP, USBank Connect, USBank Ralph (5% on digital wallet) and Affinity Cash Rewards (Hi5). I used a few initial expenses to satisfy the SUB requirements. I expect some home renovations soon and if the cost estimate would be high, I may go for HomeDepot CC.