Capital One Quicksilver or Venture One

[Suzie]

Received a letter from Capital One. Have had card since 2005 but never use. They are offering "enhancement" to existing account - keep existing account history but can swap to Quicksilver or Venture One - no bonus.

I never use this card but should for length of credit history. Does anyone have any thoughts on this? Specifically, since there is no bonus offered, could accepting this offer keep me from getting a different Capital One product in the future with a sign up bonus?

Thanks for any insight.

 

[konorth]

What reward card do you currently have with them?
Venture One: Earn unlimited 1.5 X miles on every purchase?
Quicksilver is same 1.5 x only a business version so the spend won't show up on your credit score.
I would suggest calling them and asking if they'll give you the straight Venture card. It is 2x on every purchase and very easy to redeem on travel. As they're offering to 'enhance' your account be sure they do this without a credit pull as Capital One pulls from EACH credit bureau.

Will it prevent you from getting a different product in the future with a sign up bonus? Possibly, but their sign up bonuses are pretty lame. (except a few years ago when they did the 100,o00 mile match!) Capital One is very stingy with bonuses but then their rewards program is very straightforward and their customer service is great. Very easy to redeem the rewards, they bend over backwards to help you utilize your miles.

I like to use my Cap 1 with a shopping portal to buy AmGC. Can turn a 2x card into a 5x card.

 

[Suzie]

Thank you, Konorth!

I will call them - thank you for arming me with some questions. I want to keep the card for credit history, but using other cards right now for MS. I will put a small purchase on it to keep active.

The letter specifically states in bold "your credit score won't be affected" - but . . . guess I'm a skeptic at heart.

And thanks for pointing out that they pull from all three - do not want to mess with the next round of cards I am planning.

 

[konorth]

Suzie, When you call Cap 1, be sure to ask if you can obtain the newest bonus. Twitter had a 4o,ooo offer today. I'm not eligable..hope you are!

 

[Suzie]

Konorth -

Update - no additional bonuses, offered a get different Venture Card at 1.5 miles per $1 with an annual fee.

My current card has no annual fee and I decided to just leave it open for credit history. Will use once when get new card to keep account active and then put in the drawer!

Thank you for your help and suggestions!

Suzie

 

[konorth]

Hey Suzie,
Sounds like you did the best you could. With no annual fee I'd keep the card open too!

 

[ashishsg]

You can change it to Quick Silver which is no annual fees and 1.5% back, better than basic Cap One card