What is the difference between Capital One credit cards

[Anonymous]

I applied for a Capital One Quicksilver card in Sept after my BK discharge.   They gave me a credit limit of $500.  Now in December I applied for a CapitalOne VentureOne card and they approved me for a $10,000 credit limit.  I appreciate the huge limit but my credit scores barely moved in this time period.  Why such the huge differnce?  What is the difference between Quicksilver and Venture One.  Aren't they both the same bank of Capital One? 

[Anonymous]

yeah but you may have gotten a cap1 QS MC. those are lower limits. also cap1 uses internal scoring too. so if you didn't have the QS and just apped for the V1 then you probably wouldn't have gotten it. especially not for $10k

[NRB525]

Congratulations OP, that's a nice limit on the Venture One.

Capital One seems to have buckets for the cards they issue. A first card can often be $500 or even $300 or even a secured card until the borrower proves their payment ability.

Did your BK clear everything off your credit reports, or you have some sort of history on other credit products that is still out there?

Once you get a payment or two, CapOne must have raised your internal score, and the VentureOne is a higher tier product, so comes with a potentially higher CL, depending on the file, depending on what Capital One sees in the file.

In 6 months or a year, if you kept up with monthly payments on these cards and then apped the Venture AF card, you'd likely see another big jump in starting credit line.

[Anonymous]

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@NRB525 wrote:

Congratulations OP, that's a nice limit on the Venture One.

Did your BK clear everything off your credit reports, or you have some sort of history on other credit products that is still out there?

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Unfortunately, I don't completely understand credit reports as people discuss them here.  I'm trying to learn.  I have two credit cards and the mortgage from the house I lost showing as included in ch 13.  Is that considered off?  I also have a Bank of America credit card that states "charge off".  I thought this should be included in the BK but I looked at my credit report before BK and it was "charge off" before then.  I don't have any other debt and I was trying to keep my QuickSilver below 30% utilization which isn't much when the CL is $500.

[Anonymous]

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@Anonymous wrote:
yeah but you may have gotten a cap1 QS MC. those are lower limits. also cap1 uses internal scoring too. so if you didn't have the QS and just apped for the V1 then you probably wouldn't have gotten it. especially not for $10k

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So Visa's tend to have higher limits than Master Cards? 

[OmarGB9]

Not Visas in general, but like the QS Visa is a higher tier product than the QS One MC. Hence, better limits.

[Anonymous]

Congrats on the Venture 1 card, I plan to apply for the Venture in about a year or so after I take a break in the garden. QS is by far my favorite card the rewards can add up with heavy use.  I have had my QS since April and have a platinum with Cap 1 as well. I am happy with both because I dont have an annual fee for either of them.  Enjoy the Venture Card.  Have a Blessed Day 

[Anonymous]

yeah with cap1 they offer higher limits on their visa than their MC versions. that isn't true with all lenders (most lenders don't have both networks)

[SouthJamaica]

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@Anonymous wrote:

I applied for a Capital One Quicksilver card in Sept after my BK discharge.   They gave me a credit limit of $500.  Now in December I applied for a CapitalOne VentureOne card and they approved me for a $10,000 credit limit.  I appreciate the huge limit but my credit scores barely moved in this time period.  Why such the huge differnce?  What is the difference between Quicksilver and Venture One.  Aren't they both the same bank of Capital One? 

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It's become very clear, in my own experience and in following these forums, that the 2 cards simply have different starting limits.

Venture and Venture One have much higher limits than the Quicksilver.

I'm guessing that it's got to do with profitability.

The Quicksilver gives you MONEY BACK, lots of it... almost all of the money Cap One gets from merchants it gives back to you. And it gives it back to you immediately, whenever you ask for it. So it's a low profit margin card for them.

The Venture cards, on the other hand, are more profitable for Cap One because (a) the 2 points per dollar redemption is for travel expenditures, not MONEY, so there's some financial wiggle room in that, and (b) if you choose to exercise the cash redemption option for Venture, you're getting only 1 percent, not 1.5 percent, cash back.

 In my book they're both great rewards cards, and Capital One is my favorite lender by far.

[Anonymous]

Hello I am wondering here whether the Venture Rewards and the Venture 1 are just like the QS and the QS 1.  The QS has a Visa version i'm assuming is equivalant to the Venture and the QS 1 MC which is what I have.  I read in other forums the QS 1 is a lets say less restrictive card in that the credit criteria is far more loose because there is a max CL permitted on the card and I'm assuming the QS 1 is for people with short or low credit history and scores.  Does this mean that the Venture 1 card is similar to the QS 1 in it's approval odds, based on a persons credit score and history.  Basicaly what I am asking is when you apply for a Venture 1 card you have a better chance of approval than applying for the Venture ? Just as you would apply for the QS 1 instead of the QS Visa