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Venture one upgrade

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gingerflower
Valued Contributor

Re: Venture one upgrade

@rgd51 

I have been with Capt 1 for 24 years and started out as a rebuilt bank. Thru the years it's been a challenge dealing with their banking service and I have learned if you are not happy with what is offered you either close the account or put a charge every 6 months to keep it active. I have 3 quicksilver cc all with no annual fee + a Walmart Cc . If you are not happy with what you have close the account don't  stress! Just my opinion..

Message 21 of 53
MrDisco99
Valued Contributor

Re: Venture one upgrade

I got my QS when I was just starting out with credit cards again a few years ago.  They gave me a nice starting limit and the signup bonus and rewards were decent.  But then I got on with other banks that offered better rewards, and the QS went to the sock drawer.

 

When the Savor card came out, I tried to get a PC to it and they denied me.  So I waited until a good time to app for it and I did.

 

Then when it turned a year old I asked to PC it to a SavorOne and they denied that too.  So I closed it.

 

Every bank has weird quirks and stupid rules.  No point in getting mad about it.  Just do what makes sense for you and when their stupid rules get in the way, do something else.   It's all just business.

 

While I sympathize, Cap1 doesn't care about your feelings, nor should they.

 

 

Message 22 of 53
quikj9
Frequent Contributor

Re: Venture one upgrade

OP, you seem to be thinking about these banks a lot more than they're thinking about you. They're not staying up at night losing sleep trying to figure out why you personally aren't putting more spend on their cards.

 

Take advantage of the cards and rewards that make sense for you and leave it at that. It's an impersonal transaction. 




Message 23 of 53
rgd51
Frequent Contributor

Re: Venture one upgrade

Now that I think about it cap one isn't so bad after all. Chase is allowing me to PC my freedom unlimited to the freedom flex which means my quicksilver wasn't a wasted inquiry or new account. I can continue to get 3% on dining and 5% on rotating quarterly categories and use the quicksilver to get 1.5% on stuff the flex would only give 1% on. I originally got the freedom flex back in October last year and then when I was upset at cap one for accidentally closing my QS (they apologized for the error and reopened it about a week later) I PCed to the freedom unlimited. They are letting me go back to the flex (should have my new card in a week or so) which makes the QS a good card for non bonus category purchases. Do you think chase would consider closing my account since I PCed to the unlimited and then back to the flex less than a couple months later? I'm worried that might spook them? It will also keep my accounts diversified with 2 chase and 2 cap one cards. I'll keep the venture one open and buy a pack of gum on it occasionally to keep it open since one could do far worse for their oldest revolving account such as AF and no rewards. 

Message 24 of 53
Horseshoez
Senior Contributor

Re: Venture one upgrade


@rgd51 wrote:

I can continue to get 3% on dining and 5% on rotating quarterly categories and use the quicksilver to get 1.5% on stuff the flex would only give 1% on. 


That's exactly how I use my Quicksilver card, purchases which don't qualify for a 2, 3, 4, or 5 percent reward goes on the Quicksilver card; everything else goes/will go on my TDCash and my new PenFed Platinum Rewards card.

I categorically refuse to do AZEO!
Message 25 of 53
rgd51
Frequent Contributor

Re: Venture one upgrade

I have to say an area cap one really is good at is giving you access to your rewards within days of the transaction while chase and almost every other bank makes you wait until the statement closing. When I wanted a flat rate cash back card to complete my rewards portfolio I was denied for both the citi double cash and 2% Alliant card for too many recent inquiries (from the app spree I went on after getting my mortgage, I got 6 credit cards during that time period but have since closed 3 of them since they really were only good for the sign up bonuses) so then went and applied for the QS and got approved for a $1,000 line. Low line isn't much of an issue since I never carry balances on my cards anyway. Most of my spending is dining where I get 3% or I can buy things off Amazon and get 3% so non bonus category spending isn't a huge part of my budget. My mortgage and utility bills charge fees to pay with credit cards and the fees are more than the rewards I would get so I just pay those directly from my bank account. 

Message 26 of 53
rgd51
Frequent Contributor

QS1 to Venture One to QS

I was 22 and a new college grad in September 2014 with no credit history when I got the QS1 from cap one with a $300 limit. 6 years later in November 2020 I asked for a PC and they told me the only option I had was the venture one. In those 6 years my limit was gradually raised to $3,500 and I opened a few other accounts such as the chase freedom flex, regular quicksilver, amazon rewards visa from chase, and the target Mastercard. I never bothered PCing my QS1 until then. I took the PC to the venture one to escape the fee but the venture one is a terrible card so I only get a pack of gum with it occasionally since I have a regular quicksilver I get better rewards on. 

 

I see on these boards that people who filed recent bankruptcies get the platinum card and then PC it to a QS 6 months later. I am noticing those who get the QS1 can never PC directly to the QS as they have to PC to the venture one first and then wait at least 6 months to PC to the QS. Any idea why those with the platinum card can get to the QS faster and with less hoops than those with the QS1? I thought both the QS1 and platinum were subprime cards so I would think PCing would be treated the same way for both subprime cards? Is the QS1 considered more subprime than the platinum? Is it capital ones standard policy that those with a QS1 have to change to the venture one first and then wait at least 6 months to change to the QS? I changed to the venture one on 11/22/2020 so will I probably get an offer to upgrade to the QS on or around 5/22/2021? Do I need to put lots of spend on the venture one (it is my worst card which is why I almost never use it) in order to change to the QS or is it just waiting out the 6 months after changing to the venture one? I am noticing that when people have the option to PC the QS1 it is always the venture one that is offered, anyone know why this is? Is it normal and common that 6 months after PCing the QS1 to the venture one you will then automatically get the option to PC to QS or is there some spend requirement I must meet with the venture one first?

Message 27 of 53
Anonymous
Not applicable

Re: QS1 to Venture One to QS

I think Capital One views the QS and QS1 as the same product since the only real difference between them is the AF. If you look at the product change site, it is actually called a rewards upgrade so it would make sense they only want you to go to a new rewards structure that way. 

Message 28 of 53
rgd51
Frequent Contributor

Re: QS1 to Venture One to QS

I mean one could certainly do worse than having the venture one as their oldest card considering all the people who have secured cards that won't graduate or cards that have an AF with no rewards that can't be PCed at all.

Message 29 of 53
Horseshoez
Senior Contributor

Re: QS1 to Venture One to QS


@Anonymous wrote:

I think Capital One views the QS and QS1 as the same product since the only real difference between them is the AF. If you look at the product change site, it is actually called a rewards upgrade so it would make sense they only want you to go to a new rewards structure that way. 


Hmmm, not buying that, there are actually three Quicksilver cards, the QuicksilverOne with the annual fee and low(ish) limits, the Quicksilver "World" card with limits up to $4,999, and the Quicksilver "World Elite" card with limits starting at $5,000 and going up from there.  My understanding from reading many posts here and elsewhere is the first two are "bucketed cards" in that moving from QS1 to the QS-World is difficult, if not impossible, and moving from QS-World to QS-World Elite is highly unlikely (I don't think I've seen a single report where this gratuation has happened).

I categorically refuse to do AZEO!
Message 30 of 53
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