Capital One PC to Quicksilver mailer; An offer, not a preaproval letter.

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spy23714
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Capital One PC to Quicksilver mailer; An offer, not a preaproval letter.

Postby spy23714 » Fri Mar 27, 2015 6:31 pm

About two years ago is when I really began to get serious about my credit situation. I didn't believe my credit was good enough for a secured card, so I got a letter in the mail about an unsecured card from Capital One and decided to apply. Just before the application was completed, I got a popup saying I was preapproved for their notorious Platinum card. This was long before I found this forum, so I applied and was given the same $500 limit everyone starts with. Five months later, as with everyone else, my limit was raised to $750 where I believed it would stay until death do us part, judging by research on this site of other people with the same card.

Fast forward a year and I woke up one morning to an email stating that the limit had been increased to $2,750, which was very surprising to me. This isn't a card I use often, however, so I didn't think much about it.

Today, I received a letter in the mail stating, "You've been with us over two years now, and we want to show our appreciation." that was accompanied by an offer to PC the Platinum to their Quicksilver card. Essentially it says that nothing will change but the title of the card, and, of course, the Quicksilver earns rewards whereas my current card does not. It also states that there is no HP as this isn't an application, it's just an offer from Capital One.

To get to the point, I've always been under the impression that Capital One Platinum cardholders die with the $750 limit and get the same speech when trying for a CLI. I'm wondering if anyone else has received this offer and if it is legit. I read here there is a difference between the Quicksilver and the QuicksilverOne because one has an annual fee they don't like to mention until you've already made the switch.

Anyhow, I've rambled long enough. Has anyone else come across this mailer? Anyone pulled the trigger and made the switch?


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lobbythis
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Postby lobbythis » Fri Mar 27, 2015 10:34 pm

This is very common and simply a part of their normal program. The offer is real, but make sure it's for Quicksilver and not QuicksilverOne.

Also, when you login to your account, there is a section to "Modify Your Features". This should also populate the same offer and you can do it all online.

ingramjuan
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Postby ingramjuan » Fri Mar 27, 2015 10:57 pm

What is the difference between the Quicksilver and Quicksilver One?
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Capital One Platinum (2001) |Capital One QuickSilver World (2002) | Amex Gold Delta (2013) | Best Buy Visa (2013) |Discover It (2015) | Amex Platinum (2015)

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lobbythis
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Postby lobbythis » Fri Mar 27, 2015 11:29 pm

ingramjuan wrote:What is the difference between the Quicksilver and Quicksilver One?


Annual Fee, no bonus and higher APR. It's a way for people with a lower credit score to still have a decent cash back card.

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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Mar 27, 2015 11:54 pm

I don't know what your situation is as far as your overall credit and other cards, but it's not such a great deal. I don't think you'd get the $100 signup bonus. At 1.5% cash back, that represents $6k+ of spending.

Upgrading to QS (not QS One) does make sense if you want to avoid opening a new account.
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
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Might drop: BrooksBros, Prestige (Costco PC?)
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Letting new accounts cool off since May
Really not sure what I'll add next or when

spy23714
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Postby spy23714 » Sat Mar 28, 2015 12:42 am

I'm indifferent either way. I very rarely use the card these days, mostly just to keep it active. However, the card that I currently have does not earn rewards. I've only entertained the idea of the PC solely because I may as well earn rewards on the rare occasion that I do use it.

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lobbythis
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Postby lobbythis » Sat Mar 28, 2015 1:22 am

It's a better card with no HP required. There's no reason not to upgrade.

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Vattené
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Postby Vattené » Sat Mar 28, 2015 10:47 am

I agree, there is no downside so you might as well upgrade. If you're not currently earning any rewards, this might become your new go-to card.

If your credit is even somewhat decent now and you're not anticipating any new credit needs coming up, it may be time to apply for a new card that will earn you something (and come with an actual introductory bonus). Is their any reason you're tied to your current non-rewards card?
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spy23714
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Postby spy23714 » Sat Mar 28, 2015 4:42 pm

It was my first card long ago. I now use my BankAmericard 1-2-3 for everyday purchases. I was just a bit skeptical about there being some hidden fees or HP. I just wanted to see if there was any reason not to upgrade. Seems like there isn't.

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CarefulBuilder14
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Postby CarefulBuilder14 » Sat Mar 28, 2015 7:30 pm

spy23714 wrote:It was my first card long ago. I now use my BankAmericard 1-2-3 for everyday purchases. I was just a bit skeptical about there being some hidden fees or HP. I just wanted to see if there was any reason not to upgrade. Seems like there isn't.


Then Quicksilver might be a good card to use for things other than gas and groceries. If you're currently getting only 1% cash (or 1.1% with BofA checking?) on a lot of your spending, you are missing out on better rewards.
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when



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