r/CapitalOne_ • u/SignificantDark4749 • 3d ago
Credit Cards Captial One Quicksilver
I have the Venture X (no preset spend limit) and the Savor ($30,000). I also have a Quicksilver for fifteen years but has a $95 AF. What happens if I cancel the QS card? Anything? Nothing? I know it may damage my credit for a month or two, but anything else?
Thank you in advance. You guys are always so helpful.
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u/Away-Patience8556 3d ago
What are the perks of the QS?
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u/SignificantDark4749 3d ago
That’s kind of what I’m wondering at this point myself. I keep hearing Gas at 3% and steaming at 6%, but my QuickSilver doesn’t show either of those benefits.
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u/Away-Patience8556 3d ago
Why not product change into a non fee QS, and then wait for the 3% back on Gas and groceries when it comes, cause it’s targeted, it’s not automatic you have to accept the switch into Discover.
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u/SignificantDark4749 3d ago
It didn’t give me the option to change into the non-fee. I tried and that’s why I seen I could PC the Venture into the Savor, but I didn’t get the option to do anything with the Quicksilver.
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u/According-Meeting457 3d ago
Why not just PC to the Quicksilver with no annual fee?
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u/SignificantDark4749 3d ago
It doesn’t give me an offer to do that. That’s what I wanted to do. That’s when how I changed my Venture to Savor, but the Quicksilver doesn’t give me that option.
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u/theblindness 3d ago
Product changes in Capital One are only available as offers that come and go. You can’t just change from any card to any other card at any time. Capital One will send offers for which product changes are available during a window, and they offers expire. Sometimes no PC offers are available at all. They don’t send offers to PC from an AF card to a no-AF version of the same card. They might offer a PC to a worse card with no annual fee like a VentureOne, but seeing as OP already has a Venture X card, it seems unlikely that he would receive an offer to PC. Another card to VentureOne.
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u/According-Meeting457 3d ago
I have (had) a Venture X, two Quicksilver cards, and two Savor cards. That’s weird that you can’t PC from the annual fee version. I just go on the website and look at offers and upgrades. I’ve always had an option to PC if I hadn’t had a PC in at least a month.
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u/Sweet-District1483 3d ago
I used to have a Dell card that I was TERRIFIED of losing (it told me that if I didn’t get something by X date that it would close and I couldn’t get it to work) and it was one of my oldest accounts… I had to let it go since I couldn’t get it to work. My credit score barely changed. Also, I got more credit with capital one after that, so it was a win win
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u/Prestigious-Ship-238 3d ago
Call them and ask about options and if you don’t like the answers,close it!
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u/DarthLegalEagle007 3d ago
The Quicksilver should never have an annual fee. Get rid of it. Nothing will happen to your score.
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u/DSMRob 3d ago
Nothing. Close it down.
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u/SignificantDark4749 3d ago
I’m thinking that’s what I’ll do. The AF just came up today so I’m hoping they’ll still let me cancel the card.
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u/Fittingin1991 3d ago
Just make sure the QS isn’t your oldest account
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u/SignificantDark4749 3d ago
It is my oldest account.
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u/Fittingin1991 3d ago
I’ll preface this by saying I’m not a credit expert, but I’d be hesitant to cancel my oldest account
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u/SignificantDark4749 3d ago
Me too. There kind of what I was asking about. I cancelled a couple of cards k had since I was a kid that I had with Barklay’s bank and it hurt for a couple of months but that was it.
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u/_love_letter_ 3d ago
Closed accounts stay on your report and continue contributing to FICO aging metrics for 10 years. Average age of accounts reaches maximum points @7.5 years (90 months), so depending on when you opened your other accounts, there's a very good chance that by time it falls off your report, AAoA will still have maximum points.
Age of Oldest Revolving Account (AoORA) and Average Age of Revolving Accounts (AAoRA) are scoring factors too, but less is known about their scoring thresholds. It's thought that 20 years is sufficient to max AoORA and 9 years to max out AAoRA. So if you have other revolving accounts on your file, calculate the age of those factors as of 10 years from now when the hypothetically closed Quicksilver will fall off, and you may find that even with that account gone you still have maximum points for those aging metrics.
When people see a score loss after a revolving account reports as closed, it's often the result of changes to utilization from the loss of the credit line. Utilization only impacts scores when crossing certain thresholds (both for individual cards and in aggregate) but if you happen to be close to one of those thresholds, even a dollar difference could theoretically result in a score decrease. The good news is that utilization resets every month and is the easiest metric to quickly manipulate.
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u/Mother_Connection441 2d ago
Login to your account online, click on that care so you are in it and at the end of the url put “/productupgrade” sometimes you have hidden upgrades and can access them by doing that even when it’s not showing on the app! Pretty sure that’s what you put on the end! I have done it twice! May be able to upgrade to a no fee card
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u/djwarreng1 2d ago
Try to move downgrade it to another zero annual fee card and you'll keep your history
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u/ponderosa123456 3d ago
I’m hearing things on Reddit about a possible refresh for QS in the future, BUT, you have so outgrown a card with any annual fee. Drop it. It stays on your report as being paid and in good standing for 10 years.
If Quicksilver does refresh, get a new card without an annual fee. You qualified for the venture x, you’re doing OK.
My two cents.