I was able to upgrade my Venture One card (1.5x miles per dollar, $0 annual fee) to the Venture Card (2x miles per dollar, $95 annual fee) instantly using the Capital One iphone app under “special offers” in my account. And the annual fee is still showing zero…
This is very interesting for a few reasons:
1. You can upgrade yourself within seconds. No calls or chats. No “reason” necessary. I believe this is the only card issuer that offers instant card upgrades? I was offered two upgrades. The other was from my Quicksilver to a Venture card which is also very interesting as the terms would’ve stayed 0% APR (I declined as I didn’t want to lose my free UberOne).
2. Capital One has odd rules when it comes to upgrading/downgrading venture cards. I’ve been wanting to upgrade this card for 6 months and after many calls/HUCA’s I gave up (since it was a downgraded VentureX card, they would NOT upgrade back to a Venture). But viola! Upgraded via the app instantly.
3. The offer stated that my credit card terms would NOT change. I assumed this was only referring to APR, late fees, etc…but thus far the annual fee is still zero and I’m gaining 2 points per dollar. Has anyone else tried this? I’m anticipating the annual feee will change to $95 in the next billing cycle…but let’s see!