Welcome back to yet another post on your downgrade options!
In this post we will discuss your downgrade options for the Capital One credit cards and what you need to know before you downgrade your cards. You can also find downgrade options for other banks here: Chase, Amex, Citi, Barclays.
Downgrade rules for Capital One credit cards
- Same family: You can usually only product change a Capital One card within the same card family or brand. However, Capital One does have some cards that you can always downgrade to (discussed in detail below).
- Personal to business: You can only downgrade personal cards to personal cards and business cards to business cards.
- Rewards: You will not lose any rewards if you downgrade your Capital One credit cards.
- Credit score: Your credit score will not be affected in any way when you downgrade a credit card.
- Annual fee refund: Capital One acts very strangely in regards to annual fee refunds. You can get an annual fee refund only if you close the card within 30 days of when the annual fee was charged. If you choose to downgrade the card then Capital One will not give you a refund for the annual fee even within the 30 days. Why they want you to close the card rather than downgrade it, I don’t know. But it’s important to note that Capital One very often offers an annual fee waiver if you agree to keep the card open as-is, and you have a perfect payment history. So it’s definitely worth asking for the waiver first.
- Not always available: Downgrades are not always available. They can be targeted for each account. Some cardholders are not able to downgrade their Capital One credit card.
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Downgrade options for Capital One credit cards
Capital One Venture X Credit Card ($395)
You can downgrade the Capital One Venture X card to either the Capital One Venture Rewards Credit Card ($95) to the Capital One VentureOne Rewards Credit Card ($0)
Capital One Venture Rewards Credit Card ($95)
You can downgrade the Capital One Venture Rewards Credit Card ($95) to the Capital One VentureOne Rewards Credit Card ($0) or to the CapitalOne Quicksilver ($0).
Capital One Savor Cash Rewards Credit Card ($95)
You can downgrade the Capital One Savor Cash Rewards Credit Card ($95) to the Capital One SavorOne Rewards Card ($0) or to the CapitalOne Quicksilver ($0).
Capital One QuicksilverOne Cash Rewards Credit Card ($39)
You can downgrade the Capital One QuicksilverOne Cash Rewards Credit Card ($39) to the CapitalOne Quicksilver ($0).
Capital One Spark Cash for Business ($95)
You can downgrade the Capital One Spark Cash for Business ($95) credit card to the Capital One Spark Cash Select Business Card ($0).
Capital One Spark Miles for Business
You can downgrade the Capital One Spark Miles for Business credit card to the Capital One Spark Miles Select Business Card ($0).
I spoke with a Capital One supervisor regarding downgrading my Quicksilver One credit card to be told that your company is fausely informing people they can not downgrade their cards, especially Quicksilver One. I need to know where your information came from if they or you are wrong. Please assist this issue. Thank you.
Correction: Capital One said they cannot downgrade Quicksilver One ever. They are saying your site is giving false or inaccurate information. Please assist in this matter. Thank you
In the post, we mention that “Downgrades are not always available. They can be targeted for each account. Some cardholders are not able to downgrade their Capital One credit card.” Our information is not coming directly from Capital One rather from data points collected from other cardholders reporting what they were able to downgrade their card to. We did reach out originally to capital One for info but they told us that downgrades are always targeted for each account and they encourage cardholders to reach out to customer service for available downgrade options that is why we are forced t rely on data points collected from cardholders. In either case, thanks for your datapoint and I will keep it in mind to update the post accordingly.
Hi Sam. Thanks for the useful information here. I am a longtime Venture card holder. I recently got the new Venture X, and now I need to decide what to do with my Venture card, since it seems to serve no further purpose. I had thought of downgrading to a free card that had a points bonus for dining or something else, but you’re saying only the VentureOne and Quicksilver are options. Also, I’d want any Capital One points to be transferrable to my Venture X card in the future. What do you think I should do?
The SavorONe card has no annual fee plus3 points on dining but unfortunately Capital One does not offer it as a downgrade option for the Venture. You can check out here a full list of cards that earn a high return on ding plus no annual fee