@PibbZero wrote:
I got an email from Capital One that for being such a "great customer since Nov. 10, 2006," they are offering to add a reward program to my existing account. According to the email, "there's nothing to reapply for. You keep your existing account, your credit score won't be affected, and you get rewards that you can actually use--at no additional cost to you."
Has anyone received something similar before? Is there REALLY no catch? I recently had to make an emergency purchase and as a result, I took a bit of a hit on my credit report for having an increased balance. Could that become an issue?
I definitely would like to add a rewards program to my card, but I don't want to call them up and then have them reject me for whatever reason...
It's a common practice to upgrade to a different, better card. Your current terms (apr, CL, etc..) transfers to the new card. I did that with my Journey card to QuickSilver (no AF), and it was easy and quick. You can still use your current card till your new card comes in the mail. Your cc number stays the same, except the CCV on the back changes. Nothing changes on the tradeline that's reported.
CapOne bases promotional upgrades based on the SP's they conduct on you throughout the year, typically every 3 months. So in regards to your large purchase, they probably won't mind it, since it's a computer that tells the CSR if you're eligible or not.
Current 10/24/2024 EQ - 777 FICO ; EX - 777 FICO ; TU - 781 FICO
