Cap1 Platinum & QS1 full disclosure...

Anonymous · ‎03-04-2016

I wanted to start a thread that will allow a full discussion of the differences between the older Platinum and QS1 CC's vs the newer versions. Originally I did not know that there were 2 versions and some of the stuff I said about the newer ones doesn't hold true for the older ones and I either sounded like a liar or severely uninformed. Not wanting that to be the case I will start with what I know about the newer CC's and others can fill in the blanks so we have a comprehensive look at the possibilities with all of them.

The newer version of the Plat. is a MC, has $0 AF and no rewards, it can be PC'd to a (Prime) QS ($0 AF and 1.5% cash back rewards on all purchases) after the 2nd statement cuts and can be combined with the QS1 after they both reach 6mths old.

The newer version of the QS1 is a MC, has an AF of $39 and gives 1.5% cash back on all purchases, it can be combined into the new QS from above after 6mths of "paid as agreed"

The newer versions are sub-prime CC's, the entry level CL can be as low as $300 but can be higher, they are all generally entered into the STEPS program meaning that they will receive an auto CLI after 6 on time payments, both CAN (but are not guaranteed to) receive a 2nd CLI if requested somewhere between the 3rd and 5th statements.

I believe that the Plat can be PC'd to a Venture instead of a QS but not 100% on this point.

IMPORTANT: IF YOU ARE APPROVED FOR 1 YOU SHOULD APP THE OTHER IMMEDIATELY. YOU WILL GET THE BENEFIT OF 2 CC's WITH 1 SET OF HP's. (ACROSS ALL 3B's).

You DO NOT need them to come up as a firm offer on the pre-qual site as many have stated that they cold app'd them and were approved.

This about wraps up all I can think of at this time. I invite all questions and comments to this post so that all the info is current and accurate for everyone to refer to. Especially thos

Dcyphrz · ‎03-04-2016

Yea the old version was a MasterCard, many of which were issued as a result of HSBC selling some of their credit card business to Capital One. Anyone who held the Orchard Bank MC were issued a Capital One Platinum MC. Recently, I was able to product change my Capital One Platinum MC to a Quicksilver One MC but the previous $59 fee was not reduced in the process.

Anonymous · ‎03-04-2016

@Dcyphrz wrote:
Yea the old version was a MasterCard, many of which were issued as a result of HSBC selling some of their credit card business to Capital One. Anyone who held the Orchard Bank MC were issued a Capital One Platinum MC. Recently, I was able to product change my Capital One Platinum MC to a Quicksilver One MC but the previous $59 fee was not reduced in the process.

+1

I have read somewhere here that you may have some luck with recon on the AF once it's been PC'd.

Dcyphrz · ‎03-04-2016

@Anonymous wrote:

I have read somewhere here that you may have some luck with recon on the AF once it's been PC'd.

I hope you're right because the AF is $20 cheaper for the QS1 card. The fee posted after my product change so I paid it. I eventually online chatted with somebody and they DID waive the fee (one time thing they said) but also said a $59 annual fee is what's associated with the original account. I mean they diidn't say foxtrot oscar but they didn't do what I expected either.

Anonymous · ‎03-04-2016

@Dcyphrz wrote:
@Anonymous wrote:

I have read somewhere here that you may have some luck with recon on the AF once it's been PC'd.
I hope you're right because the AF is $20 cheaper for the QS1 card. The fee posted after my product change so I paid it. I eventually online chatted with somebody and they DID waive the fee (one time thing they said) but also said a $59 annual fee is what's associated with the original account. I mean they diidn't say foxtrot oscar but they didn't do what I expected either.

Foxtrot Oscar, buuahhhh!!!!

Gosh with your scores why not jump on the pre-qual site or even chat and ask what offers are available for you? Get out of that AF card altogether. The new QS has $0AF and gives 1.5% CB on all purchases. Even better your scores support even better cards anyway. It won't have

Dcyphrz · ‎03-04-2016

The HSBC/Cap1 card goes back to 2007. It's my second oldest open trade line. I'll probably close it eventually but I do like this Quicksilver One so far. I can understand its popularity.

I never get pre-quals any more. I opted out in 2014 after that dumbass Barclay's Black Card invite showed up. LOL Besides, I don't need any more credit. I just have a weird OCD that forces me to occasionally chase promo cash back offers (4 new accts so far in 2016).

Anonymous · ‎03-07-2016

Thanks for starting this thread. I just started rebuilding my credit. And have both cards (just received them this week!

). Going to do what you state and PC my platinum to either the QS or maybe the venture if they allow after the second statement cuts. Then will combine the QS1 with the QS (or Venture) when they are both 6 months old. I'll report back with updates.

Anonymous · ‎03-07-2016

@Anonymous wrote:
(this make no difference to the scoring but the industry knows the status of these CC's in manual review)

No, they don't, this is a myth. All a reviewer can see is the lenders name, and "account type - credit card", as well as the limit, balance open date, etc. They cannot see any account specifics beyond that.

Rebuilding69 · ‎03-08-2016

@Anonymous wrote:
@Anonymous wrote:
(this make no difference to the scoring but the industry knows the status of these CC's in manual review)
No, they don't, this is a myth. All a reviewer can see is the lenders name, and "account type - credit card", as well as the limit, balance open date, etc. They cannot see any account specifics beyond that.

Who do you review for

Anonymous · ‎03-08-2016

@Rebuilding69 wrote:
@Anonymous wrote:
@Anonymous wrote:
(this make no difference to the scoring but the industry knows the status of these CC's in manual review)
No, they don't, this is a myth. All a reviewer can see is the lenders name, and "account type - credit card", as well as the limit, balance open date, etc. They cannot see any account specifics beyond that.
Who do you review for

All you have to do is examine a raw report. Nothing that can identify what specific product you have from a lender is in there.