When is a Credit Card Upgrade Better than a New Application?
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- čas přidán 5. 07. 2024
- We look at a recent credit card upgrade I did, and why I did it...
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I did the product change personally and had my wife do it as well. Kept the age of credit from dropping and earned the 1.5 cash back bonus on top of that.
I've been watching your videos since I started trying to rebuild my credit. After opening a card per your suggestion and paying it on time, I've raised my credit 100 points, thank you!!
I enjoy the new setup and color schemes. Its cool to see the channel grow. Your content is always good so I look forward to you putting more videos out.
I appreciate all of your help. Your data is beyond solid! You’ve helped me In a lot of ways.
Just got the offer last week have all those questions about impact to credit. Thanks man for the answers upgraded !!sending the card out this week👍🏿👍🏿😉
Just got this offer today! Makes so much sense and was looking for a video like this. Thank you!
Was able to upgrade my Platinum to the Quicksilver online! Didn't even know I could do that. Thanks
Excellent video Ben. Thank you for thoroughly explaining everything clearly. Keep up the video I have been thinking about applying for the quicksilver card.
I'm so glad I watch this video a few videos back I was thinking oh I really want a video on that new save your card and you mentioned that you already did a video on it. Yay me for accidental research!
Hey Ben, great tip. I wish the UK card market was as diverse and engaging as the USA. I know there are vast differences in how the credit reporting works and is used USA vs. UK, but wondering how you feel about having various limits across your cards? I'm quite OCD but gain satisfaction from getting all my cards to the same limit. I find that it's easier to manage at a glance and now when I apply for new cards, they usually give me a limit near to where my others are.
Another very helpful video! You, Ask Sebby, and Beat the Bush have saved my financial life. Question tho, can you product change from the Capital One Quicksilver to the Savor card?
I did not think about using every card every month. I'll have to get on that. Thanks Shifu.
Hey Ben! I enjoy watching your videos.
I'm sure you meant "Positive" 1:14 into this video.
Keep these videos coming.
I was thinking about doing the same with my Capital One Platinum. Great video
I just did he same product change it was very easy over the phone process. Now all my cards earn rewards! Score 732 and growing
Just upgraded ,thanks for the video!
I just PCed from a Capital One Platinum to a Savor after 6 months with the Platinum, I was shocked that it was a PC option, but so excited for these kinds of rewards!
Made a product change on my American Airlines AAdvantage platinum to the executive. Had to bite the bullet on the 60k sign on bonus but I prefer to keep my inquiries down until they are zero. I already have 180,000 points and fly fairly frequently so I will survive.
I just did this because of this video. Platinum to quicksilver. Thanks a lot.
Rene Lopez how long did you have your credit card for before the credit increase
LuisRamirez 6 months
Did it require a hard pull?
it's not working for me upgrade program, cap told no can't do it.
There are instances where they don't have any upgrade or product change available for a certain customer, there is no clear information on it. Everyone just recommends you keep trying either every month or every other month, and eventually you should get some options.
@credit shifu I had a 20+ year old slate card. Obviously I would never get rid of a card that old so just set up a small recurring charge on it and was going to figure out a Chase product change later. Flash forward a couple years and I decided to upgrade it to anything usable but did not know what yet. This happened to be the same weekend the freedom flex was starting to be available in the us. The customer service person wanted to make sure I knew I would not get the signup. I did not care, I knew the savings on our grubhub subscription (plus the dining reward) and cell phone insurance MORE than made up for it. Just the phone insurance, which saves me around 350 every year.
Hey Credit Shifu, just a heads up cover the numbers on your credit cards with electrical tape or something so you don't have to work about finger placement when showing your cards.
The one person who disliked this was Tai Lopez
What about Dave Ramsey?
Who is that
Cameron who cares what he thinks.
+Hobby Lobby who hates all credit cards.
Lol
Great video Shifu! Thanks You :)
Thx for the insight. Just changed my Platinum to the no annual fee Quicksilver.
Thanks for the video. I just called up capital one and upgraded to the Quicksilver card, no more $75 annual fee from the platinum card. The rep did say the limit and apr stay the same. Saved $75 a year just by making a call..
Did you upgraded from the Platinum cc or the Quicksilver one? I would like to just jump two hoops and go straight to the Quicksilver! I have done On time payments for the past 4 months in full on my 5th month in December I get a credit limit increase by $200 dollars, I might consider calling tomorrow and asking if I can just get the Quicksilver with a credit increase as well.
I just discovered this video and upgraded my account to the quick silver. Thank you!!!
PJ i need some help when did you open your capital one secured card because I’m being told they don’t graduate anymore
Upgraded just now to the quicksilver thank you
Excellent analysis!
My only product change was from a freedom ulimited to a freedom. Mistakenly got one too many cards and was planning on getting freedom later. Freedom categories ended being much more valuable to me and my brother wanted a freedom so I also got the referal bonus. I actually really like the $100+/$500 spend cards; they are easy to hit, they have a really high return on spend as a percentage and I personally don't value travel/hotels very highly.
Kofi Osei if you don't mind me asking how long did you have the unlimited before you product changed it? I'm in a similar situation as you were
MrThatblueguy only for 2 or 3 months
Went from the capital one platinum to the quicksilver. No hard pull. Nice to get the cash back since i use it so much.
Thanks you for this video shifu.
Just called in and was upgraded from Quicksilver One (was upgraded to World Mastercard before) to Venture. Also upgraded another card from plat to Quicksilver One.
Watching you as a 19 year old student. Your tips are working and I'm already involved in stocks. Along with this I will be applying for my second credit card in about 1-2 months. Thanks for all the information :P
Sorta. I have acorns, which has both my debit and credit card linked for roundups. Those roundups then go towards my stock portfolio. Along with that I use stockpile and robinhood.
I did a product change from a Chase Slate to a Chase Freedom Unlimited Card. Many years ago I’d gotten a Slate Card for 0% interest for balance transfer and sign up bonus. But now that I don’t carry a balance I had zero use for the Slate card.
Just upgraded to quicksilver with the video playing in the background lol thanks!!!!
I did as well, for 2 of my cards LOL...
I know this video is over two years old, but I just did the exact same upgrade for pretty much the same reasons. Platinum to Quicksilver, even though the QS would now be a $250 SUB.
Platinum was one of my oldest cards, but it was something I'd just have to remember to use once in a while to keep it active.
QS is something I'll just use once in a while to keep it active, but at least I'll get some benefit when I do use it.
Me too, like a second ago. I wondered what the differences were in the two cards. My app said i was eligible so i went for it
@@sukuntee my Platinum that I upgraded to Quicksilver has since been upgraded again to SavorOne.
Watching your video I learned how upgrade, I just called the bank and I got upgrade from platinum to quicksilver than is better to open a new one and have a new inquiry
Thats awesome, how long did you have the platinum cc for? Im currently going on my 5th month! But if you got approved then I might have a good chance. My score is 674 atm and have made On time payments and in full every single month 👍. I just replaced the platinum cc with a Discover for the perks, perhaps Capital One will consider the change if I tell them I won't be using the platinum cc because it does not offer anything else besides credit recovery hehe
I have the Platinum, applied for the Quicksilver one and was approved, now I just have both.
Try to product change the quicksilver one to a savor or a venture. I applied and got a platinum and a quicksilver one and did the platinum to a quicksilver and the quicksilver one to a savor.
My Capital One card was so old they product changed me to the Quicksilver cash back card and I never noticed!!
Very helpful! Thanks
I product changed from the capital one journey card to the Quicksilver after 10 months. It's now been a few months since then.
I have two cc from Capitol one. One is platinum and Quicksilver one. When i called Capitol one, they offered me to product upgrade my platinum to Quicksilver one. My other Quicksilver card I had no offers yet, the gal over the phone told me to call in within 3/4 months to try again. I'm hoping I could get to upgrade to the Quicksilver rewards or the Venture card .
Im in the same boat the card has no use for me anymore ..thanks for this video
Thank you for this
Good info. Thanks!
Thats weird i upgraded my dads to a quicksilver he got the bonus but that was like 2 years ago maybe they changed their rules
New credit card ladder with updated cards soon?
Capital One is annoying too in that it pulls from all three bureaus, at least in Arizona
I’m on a roll lol. Based off of my suggestions, you’ve made 3 videos.
it's basicly the same as the Chase Freedom, Freedom unlimited, Citi double cash Bank Of America cash rewards ect. you also get to keep the same credit history.
No sign up bonus when i upgraded but i got rid of my A/F card, so that’s a win win
I have the capital one platinum card and I was thinking it’s not worth it to upgrade to the capital one quicksilver one card because there is an annual fee and I don’t think the money I would earn from cash back from that card would even cover the annual fee. Should I just stick with my capital one platinum card? They just increased my line of credit to $500 and there is no annual fee but also no rewards. Also what do you think about the capital one journey student card?
Great video. Here is one thing to consider: Requesting a credit increase may cause a hard pull on your account. Just check on that before making the request.
Not on Capital One or Discover. You could request a CLI weekly and you're not gonna get a hard pull. With Discover, if they need to do a hard pull, they will pet you know first. With capital one, they've never done a hard pull on me for a CLI
@@kevinfransen1255 can you really request a CLI weekly 😯??? Thats unreal lol
Edwin Medina you can. Doesn’t mean you’re going to get it
@@kevinfransen1255 getting my 200 credit increase on my Platinum, which is now my Quicksilver and 1.5 cashback, so a total of 500 dollars credit limit! Not alot but its growing. Should be increased between Jan 1st and Jan 31s if I remember. I think Im set for cards now and messing with my credit score on inquiries. I have the 3% BoA for Gas, 1.5% Quicksilver for food and Discover for 5% online purchases at Amazon, Wallmart and Target. I might need one more to charge my regular bills on like the Citi Secured for now then upgrade that to the Citi double cash. Just throwing everything out here I want to see what other's are doing and or if they are getting the exact same cards to work upwards.
i have the platinum CO card now I'm thinking if I should go ahead and upgrade to the T2 quicksilver card
I have the quicksilver credit card and I upgraded to the venture one. To have a travel card. And the good thing is there’s no credit check. And I keep the original history of when I have the credit card open with Capital One. And they change it to a Visa Signature card. Because of the amount I have on the card. I am happy with it. I had five cards with capital one. And merge them all into one card. So that work out also. They where all paid off and over the time to merge them all.
Albert Castro did it stay a Mastercard or did it change to a visa?
It change to a visa signature. And it has a few more benefits. I did not get to ask. But I found out now for you.
Will you be doing a a video on the new quicksilver secured card from capital one?
I have the same option to upgrade so identical situation, however, are you still getting 12 or 18 month 0% Apr no fee balance transfer offers from them with the quicksilver? Because honestly, I think that's why they want me to upgrade, not to mention some arcane grandfathered protection I may be unaware off they are trying to get rid of
QUESTION:
i have an old capital one platinum card that has everyday cash back 1.5%
i want to do an upgrade but was only offered the capital venture one card which offers 1.25 miles per dollar spent
i do travel a lot.
but which card is more beneficial ? i’m thinking the platinum card but not all the way sure.
HELP !!!! ❤️
Hi there! Just subscribed! Thank you for the info. One question. Is there a balance increase when you upgrade like this? I have the secured version on the platinum and just want to know what to expect once I "graduate". Thank you! Have a wonderful day.
my platinum started out at $500 (non-secured), after 5 months of on time payments they increased my limit, to I think $1000. Then they have just randomly increased my limit, it is currently at $2500, but is stuck there because of no payment information, because I wasn't using the card. I think it will depend on the person as to whether you get a limit increase, when you do a product change, if they pull your credit and find good things, they may give you an increase at the same time.
Maybe Chase Sapphire Preferred to CSR now that they give you the sign up bonus and can't have both within x amount of time.
I appreciate your videos; totally informative and well done (Subscriber). I have a question, I planning a product change (if possible). From QuickSilver One to Venture One or Venture. My question is as follows; Is it consider a product change when the "network" is different from a QuickSilver One (Mastercard) to a Venture (Visa); again if the cards differ from MasterCard to Visa? Thank You
Capital One had to platinum for two years never ask for an increase had a $300 credit woke up one morning and had a $1,500 increase and then a week later I was approved for the Quicksilver with no annual fee
Hi +The Credit Shifu! I had the old Citi Hilton no-annual-fee card which gave you Hilton HHonors Gold status for as long as you held the card, but it was changed to an Amex Hilton no-annual-fee card in January 2018. I got an email from American Express saying that as of April 1, 2018, my Hilton Honors status would be dropped from Gold to Silver status. Even though Diamond status is the top tier, for me Gold has been more advantageous and I've gotten a lot of value from having Gold status. I don't want to drop to Silver status because it sucks LOL and my FICO credit score isn't high enough yet for me to apply for a American Express Business Platinum card (which gives you Gold status for as long as you hold the card). My question is: should I upgrade my Amex Hilton no-annual fee card to the Amex Hilton Aspire card, which gives you Gold status but also has a $85 annual fee? I know I'd be missing out on its bonus but I would rather wait to get the even bigger bonus from the Amex Business Platinum card, and paying $85 a year is worth it if I can get/maintain my Hilton Honors Gold status. Thanks in advance!
So is better to upgrade from platinum to quicksilver instead of opening a new account?
Hey Shifu! I'm in a similar situation to you, new resident to the US who has great credit at home but needs to build credit here, what is the likelihood that capital one would approve a new resident for the quicksilver? Our household income is a fair bit above the national average. Thanks for the great videos!
I just got approved for the capital one quicksilver one. I still got the capital one secured card
I did the same PC a couple months ago for the same reason.
I have a platinum card but I really want to upgrade to the Savor One. If I product change from Platinum to Quicksilver can I them upgrade to the savor one later??
I'm wondering if it's possible to upgrade or product change from the normal Quicksilver too the savorone card?
Do you think there would be a bonus offer for upgrade from Surpass/Ascend to Aspire anytime soon?
I know this is slightly off topic. But if someone didn't know better. The platinum sounds like the upgrade to the Quicksilver. But of course it's the exact opposite.
Can you share the link where did I went for the product change please
One thing I’ve learned, always use your cards and make sure you have like a $1-$5 statement balance so you can show a payment. That way you still have positive history with that company. I have 10k on my quick silver. You’ll get there.
Chaz E I have $64k with the Chase Sapphire Reserve. You'll get there.
I've had my capital one as my very first card. It had a limit of 250 or 500 at first. Over time they've upgraded my credit line and better card because I always had payment history. I meant they will slowly give you the credit increases and lower interest so you don't have to close it or do a hard pull. It's better to call and ask to do that every once in awhile instead of close your oldest card. Sorry I should of explained that further. I wasn't trying to brag over a 10k limit.
Chaz E Thank you for explaining your comment. Yes as people learn the credit card game the higher your credit limit will be in the end. Good luck to everyone who are trying to better themselves.
Chaz
Chaz Edwards why should you pay every nothing but a dollar when it time to pay for your card? Shouldn't you pay in full?
Please do a video on self lender. I want to do it and I need you input.
Philmore James dont spend money to earn credit. If you have negative items, dispute. If not, This page and others will get you to where you want to be.
Is it easier to get a credit line increase with the quicksilver card compared to the platinum card?
Oh god.. hindsight is 20/20. Shifu wanted to save his 5/24 limit for the Marriott Boundless lmao!!
thank you you rock
Got aprooved for quick silver
I did the upgrade from platinum...I got my card and it says the regular quicksilver but it’s a MasterCard...on the website it says MasterCard is for quicksilver one and visa is for regular quicksilver...what does yours say and is there a reason for this?
I own a Quicksilver Regular Visa upgraded from the Platinum Visa and a Quicksilver Regular MasterCard. They upgraded my Platinum after I already had the QS MasterCard. There is literally no difference except one is Visa and one is MasterCard. There is also a Visa Quicksilver One, as well as a MasterCard Quicksilver One. You could own all 4 cards if you wanted... although I don’t see what the point of that would be...
Does the quicksilver do balance adjust of .99 or less?
Just upgraded from Chase Preferred to Reserve.
New sub here, I'm new this whole credit card game after destroying my credit in the past I've decided to be more responsible with my credit. I applied for my first card from capital one (7) months ago and got approved for their quicksilver one $39 annual fee and a ccl of $300, 5months later it's at $500. Three months later I applied for another cap one card and was approved for their platinum, ccl $3,000. What would be a good strategy for their product exchange and when?
Hello , I got the same problem with capital one platinum, in 4 years a got 2 month late & capital one won't give me line increase, I ask about credit card upgrade and that either, what can I du then I don't really want to close the 4 years account. thanks
I miss "classic credit shifu mode"
I️ just upgrade from the normal capital to the qs last week just called them and complained I️ don’t get anything from the normal one so they talked to a manager and switched me
I was thinking about doing this 2 days ago.
Because of this video I got my capital one platinum product change to Quicksilver
Alexander Acosta Hey, did that require a hard pull?
Jennifer Santamaria it didn’t required a hard pull. I’ve had the platinum card for 1 year and never paid interest and always paid in full. I spoke with them and they said I’m eligible for a upgrade. Didn’t require using my credit and they are keeping my card number from the platinum and putting on my quicksilver card. It the same account just a better card.
Alexander Acosta Awesome! I'm on the same boat as you then. I've had my platinum for a year as well and always paid in full. I received the quicksilver offer for a new card just didn't want to open a new account but now that I know that there's no hard pull I can go ahead and upgrade. Thanks again for the info! 🙂
Jennifer Santamaria just call them and ask if you are eligible for a upgrade. More likely you will get it if you don’t have negative history with them. Let me know if you get it.
Alexander Acosta Thanks for the info. It worked!
What you need to do in order to get this update, I already have the capital one platinum and will like to upgrade it !!
Call Cap1 and ask
I just upgraded my Capital One platinum to the quick silver reward card. I didn’t care about getting the bonus, I just wanted out of the platinum. After the platinum helped my credit score greatly, I stopped using it. I have the savor one card already, so I’m good with Cap One cards for now. I got turned down for the Chase Freedom Unlimited….. but I think upgrading to the quicksilver reward card was a better option for me. 👍👌👌👌🤗
I just called up Wells Fargo to try to do this since I am in the same predicament. Unfortunately, they require you to close out the existing card in order to open up a new one, so it's not worth it. I am heading to the branch today to see if it's different if I see them and will update this post with the results.
update?
Mustafa Idris r.i.p to my man. He passed away on the way to the branch 😔
Lmfaoo easy there
any advice on the capital one secured card, i can’t get them to let me upgrade it and i has an annual maintenance fee that granted can be waived but is a pain to keep track of since i barely use it
You get an annual fee? What do you mean? I also have the secured card and there is no fee.
One more month and I am out of 5/24 prison. How long should I wait before applying for a CSR?
I did the same think about 6 months, but i did it because I didn't wanted to pay the annual fee
Started with a $250 balance went to $500 and got approved for a $3000 credit line quicksilver but now I have 2 accounts is it to late to product change or do I just pay off the Platnium and close the account? I’m kind of confused. I’ve had the platinum for 2 years.
Would it be better to have one credit card with a higher average age of accounts, or two credit (paid on time) with a shorter average age of accountsy? I have 5 years average age of accounts
So I just did a product change from capital one. Do I destroy the old platinum card?
I asked if there were any upgrades for my quick silver card with annual fee, I was told no
What’s the difference between pre qualified vs pre approved?
The capital one secured card will upgrade you 10 months if you have good payment history
does the cap.1 secured platinum card ever upgrade to the unsecured version. If so can anyone tell me how?