Email from Capital One

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vjane89
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Email from Capital One

Postby vjane89 » Mon Jan 13, 2014 11:37 am

I currently have a CapitalOne Platinum No Hassle Rewards Mastercard with a credit limit of about $2,500. I think the rewards are only 1% back on all purchases.

They recently received an email from Capital One offering to switch my card over to the Quicksilver One with 1.5% back on all purchases. They state that I do not need to reapply and my credit won't be affected.

Should I do this? Are there any drawbacks to switching my card?

Thanks in advance for the help


chas0039
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Postby chas0039 » Tue Jan 14, 2014 4:57 pm

I recently made the same switch and I could find no downside. But you don't want the Q One card. I think that has a fee. You want the plain Quicksilver.

vjane89
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Postby vjane89 » Wed Jan 15, 2014 12:05 am

In the email, it states: "Pay no annual fee."

It does not specifically state that it is a Quicksilver One card, but the picture within the email is a Quicksilver One card.

I most definitely do not want to get stuck paying an annual fee. How do I make sure I am not getting tricked into anything?

CC Deville
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Postby CC Deville » Thu Jan 16, 2014 7:49 pm

They did the same thing to me with my No Hassle Rewards (points). They tried for about a year (emails and mailed letters) to try to get me to switch to either Venture or Venture One but I wasn't interested. Well, they have been phasing out No Hassle altogether so eventually if you do not bite they are going to just automatically change your account. They automatically changed me to Venture One since it didn't have the annual fee. So if you do not have an annual fee now they cannot change you to a card that does charge one without your consent. There was no downside (other than the UGLY card design) of the "upgrade." In fact, Capital One honoured the 10,000 mile bonus sign up that new cardholders get for me even though my account is 16 years old.

That said, why wouldn't you want to earn 50% more cash back? The only downside I see to Quicksilver (besides the tacky name) is that the card is flat with unembossed account number/name. That bothers me but for most normal people they could care less.

MemberSince99
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Postby MemberSince99 » Thu Jan 16, 2014 10:26 pm

I agree with these boys - I would do it.

Nucstorm
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Postby Nucstorm » Fri Jan 17, 2014 8:23 am

The only downside that I could find with this is that you won't be able to received the sign-up bonus ($100 for $500 spend over 3 months).

You could possibly try to see if they will honor this but I tried via chat. I was told that they would only upgrade it and that the bonus was for new applicants.

If you are ok with not getting the bonus, then go for it! If you do try to receive the bonus, let us know what happens.

vjane89
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Thanks

Postby vjane89 » Fri Jan 17, 2014 3:44 pm

Thank you all for the advice!

Although the email states that it is a Quicksilver One card (which on their website does have an annual fee), it says "No annual Fee" in bold. I am going to call them just to confirm.


Again, thanks for the help!

MemberSince99
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Postby MemberSince99 » Fri Jan 17, 2014 5:28 pm

Thank you for calling Capital One, a conservative lender, this is Krishna, I mean George may I please know your first and last name?

chas0039
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Postby chas0039 » Fri Jan 17, 2014 5:42 pm

CC Deville wrote:...There was no downside (other than the UGLY card design) of the "upgrade." ....


This is Capital One. It is easy to change the card design to anything you want that will pass their rules. My card is all black, looks great.

jlam572
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Postby jlam572 » Fri Jan 17, 2014 6:25 pm

I upgraded to the venture one travel rewards card with them. kept my limit of 3500. They wont increase my limit saying "we haven't seen you use your card for many years." lol
American Express Platinum
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