PC from QS to Venture One if I already have another Venture One?

[Anonymous]

2.5 years post bankruptcy. Following the program from these forums I've raised my score to just under 700 in 2 years. My score has plateaued since then but I'm happy with my overall progress. Currently holding a Barclay rewards master card and captial one venture one and quicksilver cards.

Anyway, Capital One has just offered me a PC on my Quicksilver to upgrade to a Venture One card. The thing is... I already have a Venture One card. I know Venture One is a better card but does it serve me any value to have 2 of the same exact credit cards?

What is the best play here? My primary objective is raising my credit score over time. I am not so much worried about how the rewards factor into the equation.

[Anonymous]

PC to another card will not impact your credit, positive or negative.  I would leave it as a QS, since it has no annual fee.  Venture One does, so I'm not surprised they're willing to let you PC.  

As far as building your score is concerned, you should have other card options for a score just below 700.  What are the current stats on you CR?  Any lates or collections still hanging around?  Utilization?  Do you have an installment loan on there?(open or closed)

[Anonymous]

The only benefit would be if you get the 20k miles after $1000 spend. Otherwise, Ventureone really isn't an "upgrade" from Quicksilver. 1.5% cash versus 1.25 points. Considering you already have one, the only reason would be for the bonus miles. I'd verify the bonus before doing a product change.

[Anonymous]

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@Anonymous wrote:

PC to another card will not impact your credit, positive or negative.  I would leave it as a QS, since it has no annual fee.  Venture One does, so I'm not surprised they're willing to let you PC.  

As far as building your score is concerned, you should have other card options for a score just below 700.  What are the current stats on you CR?  Any lates or collections still hanging around?  Utilization?  Do you have an installment loan on there?(open or closed)

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I'm currently "gardening" (I think that is the term). I have the 2 cap one cards and a barclay rewards master card. I'm 2.5 years post bankruptcy. Zero lates or collections on my report. My utilization ranges from 4-7%. I have never allowed it to go past 10%. I have 1 secured installment loan with a credit union. It is a 2 year loan for 2k. I've had that loan for 10 months and have paid it down below 1k. 

Any advice on on how to proceed from here? I'd like to purchase a new home this winter so every point would help. 

[Anonymous]

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@Anonymous wrote:

PC to another card will not impact your credit, positive or negative.  I would leave it as a QS, since it has no annual fee.  Venture One does, so I'm not surprised they're willing to let you PC.  

  Venture One does not have an annual fee hence the lower rewards percentage versus the Ventur card.

[Anonymous]

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@Anonymous wrote:

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  Venture One does not have an annual fee hence the lower rewards percentage versus the Ventur card.

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My bad, I got them backwards.  Weird how the QS is the opposite on which one has an AF.  

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

PC to another card will not impact your credit, positive or negative.  I would leave it as a QS, since it has no annual fee.  Venture One does, so I'm not surprised they're willing to let you PC.  

As far as building your score is concerned, you should have other card options for a score just below 700.  What are the current stats on you CR?  Any lates or collections still hanging around?  Utilization?  Do you have an installment loan on there?(open or closed)

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I'm currently "gardening" (I think that is the term). I have the 2 cap one cards and a barclay rewards master card. I'm 2.5 years post bankruptcy. Zero lates or collections on my report. My utilization ranges from 4-7%. I have never allowed it to go past 10%. I have 1 secured installment loan with a credit union. It is a 2 year loan for 2k. I've had that loan for 10 months and have paid it down below 1k. 

Any advice on on how to proceed from here? I'd like to purchase a new home this winter so every point would help. 

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What does your report say about negative factors?  Maybe post in that forum.  I don't understand how a BK works as well as those folks.

[Anonymous]

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@Anonymous wrote:

2.5 years post bankruptcy. Following the program from these forums I've raised my score to just under 700 in 2 years. My score has plateaued since then but I'm happy with my overall progress. Currently holding a Barclay rewards master card and captial one venture one and quicksilver cards.

Anyway, Capital One has just offered me a PC on my Quicksilver to upgrade to a Venture One card. The thing is... I already have a Venture One card. I know Venture One is a better card but does it serve me any value to have 2 of the same exact credit cards?

What is the best play here? My primary objective is raising my credit score over time. I am not so much worried about how the rewards factor into the equation.

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I agree that you should leave the QS as it is.  I have the Venture card and it doesn't compare to some of the other travel cards such as the Platinum, CSR, or Citi Prestige.  If anything, I would PC the Venture One to a QS and get the cash back.  If you are a member of a CU, then you have all of your bases covered.  I would just sit back in the garden and let your profile age.