Hello,
  I did a minimal install in Virtualbox for Centos 6 and tried to upgrade using the upgrade tools, from centos's repo[1]. But this tends to fail[2].
preupg --list comes up blank.
  After this I directly proceeded to use redhat-upgrade-tool, as it turns out I need to use --force since preupg failed.
The exact commend used is "redhat-upgrade-tool --force --network 7.0 --instrepo http://mirror.centos.org/centos-7/7/os/x86_64/"
This works, I encountered errors like[3], but after installing the CentOS 7 keys manually everything worked out.
In the end I had a bootable and upgraded CentOS 7 box.

Cheers,
  Gaurav

[1] http://dev.centos.org/centos/6/upg/x86_64/Packages/
[2] http://i.imgur.com/zd1HOKV.png
[3] http://i.imgur.com/7bU1nU7.png