Upgrading your credit card could allow you to get a new card, possibly with better benefits and rewards, without requiring you to apply for a new line of credit. When you upgrade, you may be able to keep the same credit account, but you’ll receive a new card in the mail. But it also has potential downsides, such as giving up the chance of earning a sign-up bonus on your new card. Also, make sure to know whether you are eligible for an upgrade or not. You may want to apply for your new card to simplify the process.
Listed below are the eligibility requirements to be considered for an upgrade though this doesn’t guarantee upgrade approval.
It is generally expected to have 6 months of card ownership to be considered for an upgrade. This is because six months is a solid period to display your reliability of making on-time payments to the bank.
To qualify for a good upgrade offer with Capital One, you must make sure that your account is in good standing. If you showcase making all your payments on time with the bank, then you are more likely to be allowed for a product change
Unlike with many card issuers, Capital One does allow customers to change from a cashback to a travel card or vice versa. To upgrade from Capital One Quicksilver to Venture, you can either accept an offer Capital One has already given to you through mail or email or call at any of the numbers, 800-227-4825 or 877-383-4802, to ask them if you are eligible. If eligible, you can either accept the offer over the phone or accept the offer online by logging into your online account and selecting the “Upgrade Now” banner on the offer you would like to choose. Once you’ve done that, a “Finalize Upgrade” window will appear, and you’ll have one last chance to review the upgrade basics (name of the card, reward/promo) and the annual fee. After clicking on it, then check the box stating you’ve read and agreed to the terms, and then click “Upgrade Card.”
In such cases, since Capital One made an offer to you, there’s no credit pull necessary. Your upgrade will go through and you will receive your new Venture card in 7 to 10 business days. You can continue using your old card until then.
The following features remain the same with your card when you upgrade unless your offer stated otherwise:
Features that will change when you upgrade:
If you're a current Quicksilver cardholder and haven’t received an offer to upgrade to the Venture card, you can call customer service to inquire. There’s no credit inquiry just for asking if you’re eligible to upgrade to Venture. However, if Capital One decides you are eligible and you request an upgrade, there will be a hard inquiry on your credit report. It will likely lower your credit score temporarily.
Those who travel frequently will especially enjoy the perks that come with Venture. You can earn 2x miles per dollar on every purchase. As an added bonus, Capital One Venture card holders who book hotels and pay with their Venture card will receive an extra 10x miles per dollar. Finally, you will receive all the typical Visa Signature benefits.
>>Related: What Airlines for Capital One Venture Card?
If you're trying to upgrade from Capital One Quicksilver to Venture, be sure to regularly check your mail, log into your account, and/or contact customer service to inquire about current offers available to you. Also, make sure to check eligibility requirements for an upgrade, though this doesn’t guarantee an upgrade approval. If eligible, explore the various avenues available to upgrade and take advantage of the features and perks discussed upon approval.
If you prefer to obtain for the Capital One Venture directly, you can apply by clicking 'Apply Now'.
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