How to Upgrade a Credit Card (2024)

FAQs

Can I upgrade my credit card to a different one? ›

Another way to upgrade your credit card is by switching to a different card within your card issuer's portfolio. This means your new card would have different benefits and rewards, but might also come with a higher annual fee.

Upgrading your credit card can help you access a card that's a better fit for your spending patterns and credit profile without impacting your credit score. However, upgrading your card means you'll likely miss out on the opportunity to earn a new cardholder welcome bonus.

The best way to make your request is by speaking to a representative from your credit card company. Use the number on the back of your card to call the issuer and ask about your upgrade options and the details of the upgrade process.

Upgrading your credit card won't typically hurt your credit score because it doesn't usually require a hard credit inquiry, and it doesn't create a new credit account.

Depending on your credit history, your APR may not be any better than the rate you'd get on a traditional credit card. This card has limited redemption options — you won't be able to stock up on rewards. No intro APR offers means you won't have a save on interest if you have to carry a balance.

Credit card issuers often offer credit card upgrade or credit limit increase option to their credit card customers. While there are many benefits which an upgraded card or a card with higher limit may offer however it comes at a cost and may have some additional risk.

Your credit score is a crucial element in determining eligibility for a credit card upgrade.

Issuers may also consider credit scores and credit history when making decisions about upgrades. If the card you want to upgrade to has an annual fee, you might have to have your account open for a full year before you can upgrade.

Upgrade Cash Rewards Visa®: Basics

Credit limit: $500 to $25,000. Sign-up bonus: None. Rewards: 1.5% cash back on all purchases. (Cash back will be applied to the next month's balance on your card.)

If you receive a loan through Upgrade, we will perform a hard inquiry, which may impact your credit score. A new borrower may see a small drop in their credit score when they receive a new loan, but the score typically climbs back up with time and on-time payments.

How many credit cards should you have? ›

It's generally recommended that you have two to three credit card accounts at a time, in addition to other types of credit. Remember that your total available credit and your debt to credit ratio can impact your credit scores. If you have more than three credit cards, it may be hard to keep track of monthly payments.

Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.

Fortunately, it's both possible and easy to switch credit cards with your bank or credit card issuer. In many cases, you can upgrade or downgrade credit cards online or place a quick call to your issuer.

The bottom line

Providing you use credit responsibly, switching credit card issuers shouldn't have any serious effect on your credit score. Remember to keep your old cards open and active if at all possible, and if you're still looking for a change, use our credit card comparison tool to find the perfect card for you.

In the case of upgrading your Credit Card, you may upgrade the credit card you current owe, in order to take advantage of the benefits that come with it. However, it may not come with an enhanced credit limit. In such a case, you may opt to use multiple credit cards even if you upgrade a single credit card.

Call Capital One and ask for an upgrade to the Quicksilver. However, note that upgrading doesn't allow you to cash in on a card's sign-up bonus or get a higher credit limit. Submit an application for the Quicksilver.