Convert a Capital One card to a different type?

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4 posts
Thekid
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Convert a Capital One card to a different type?

Postby Thekid » Sat Feb 23, 2013 8:38 pm

Capital One Platinum was my first card, and I have been paying as agreed since I was approved. I started with $500 and it was automatically increased to my current $750. I have been using less this card since I have been approved for better cards.

Because the importance of this my FIRST card, I want to keep this account on an active status. I have considered to apply for an UPGRADE to convert to either Cash Back Rewards Visa, or VentureOne. I've heard that Capital One is a complicated bank for applications. A CSR told me that an upgrade would be possible.

What do you guys think is my chance to be approved?

CapitalOne Platinum 3/2011 750
walmart Store Card 8/2011 1400
Macy's Store RedCard 9/2011 200
Chase Freedom 11/2011 750
AMEX BC everyday 1/2013 2000

TU 754
EQ 743
EX 729


MemberSince99
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Postby MemberSince99 » Sun Feb 24, 2013 7:40 am

To be honest it would be easier to just apply for those cards outright than get your starter card converted. Their CSRs don't know their heads from a hole in the ground. I've read a few success stories of people being very persistent and usually getting the executive office involved and getting a product change that way, but by and large they really don't do that, they expect you to apply for a new card and take a hit on all three CRAs. Venture is actually a hard card to get, though probably the only Cap One card worth having unless you are just starting out or rebuilding. With your history and scores, I'm not sure you will get it right now. But you could certainly get something else nice and prime and it might be wise to focus on that.

What are you looking for the new card to do? Rewards, a higher limit, etc? Be aware that you should ask for a 3x CLI for your Amex 61 days after you got it, so you should be able to bump that up to 6k in April. That will help get you over the hump then you can go to Chase after 6 months with them and say hey, Amex gave me 6k can you give me something reasonably close to that and see what happens. I'm guessing by summer you'll have some decent limits going on, without Cap One even being in the picture. Then you can dump that starter card with the annual fee and hopefully never look back.

craigm1
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cap one conversion

Postby craigm1 » Sun Feb 24, 2013 9:39 am

I was in the same boat, I have a platinum card was a secured card from 98 started at $500 limit then went to $1000 and ended at $4800 has been that limit since about 2000 I stopped using the card for about 2 years and kept calling them for an upgrade no luck, finally I said I have all these other reward cards and there is no reason for me to use this card and they offered me the cash rewards card with 1.5% cash back, you just need to not use the card and keep calling every few months and eventually they will budge, I didn't want to get rid of the card because it's my second oldest card on credit line and going back to 98 it's almost 15 years old

craig
Current Cards: American Express:Grandfathered Blue Cash CL 34k member since 89
Chase Freedom CL 7.5k member since 04
Chase Marriot Rewards Premier CL 20k member since 13
Chase Sapphire Preferred CL 25K member since 13
Bank Americard Cash Rewards Signature Visa CL 14k member since 11
Discover Cashback Bonus $10.5k member since 11
US Bank Cash + Signature Visa 19k member since 12
Citibank Thank You Preffered World Mastercard $16.5k member since 14

Thekid
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Postby Thekid » Sun Feb 24, 2013 10:07 am

Thank you for your quick answer. I just wanted to get a better card, since my Platinum is my oldest account, and keep using your first card would be a good idea because it shows stability to lenders.

Moreover, you are more motivated to use a card with rewards that the one without rewards and higher APR. Fortunately, for an unknown reason this Platinum has NO annual fee. It was supposed to have $19 per year, but the CSR confirmed that it has $0!

Anyway you just confirmed what I had on my mind: ask for upgrades is not a good move right now. My credit history and CL are too short and I have excellent options on my wallet right now. Thanks man.



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