Cap1 new Favorite Card Company?

[Anonymous]

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@mrcrisp023 wrote:
That's awesome. You will def see an upswing in your scores. I only have $800 between 2 cards, and one month I forgot to pay down my balance before they reported it and my util was left at 61% when it reported. Knocked my scores down about 40 points. The next month I paid it like usual and they went back up about 45 points. Makes a huge difference.

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Im hoping to just get back above 600 again.  It felt so nice to crest that first mole hill just to get knocked back down due to high UT.  My next credit report should be updated with showing <5% at the most UT for one card and around 1% total UT.  I will try and keep it between 5 and 1% from here on out, hoping to never go over 30% again.

[Anonymous]

I started out with a Cap1 card in 2008 for a measly $300. Now, they give me a much much higher limit. Just take care of them and in a short time, you will see it grow. 

[Anonymous]

That is awesome.  I have been with C1 for 10 years now. Stay with them, they reward loyalty

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@Anonymous wrote:

Ive had a terrible credit score for so long I forgot what credit was.  I never knew the impacts of bad credit until I was knee deep in collections, bad checks, ect.  Why dont they preach this **bleep** in school?

Anyway, about 6 months ago I started to really work on my credit.  Paying off Collections, getting secured credit cards (harder than I thought for a secured card when you have a 470 credit score).  Since last august the only payments I have missed was when I was laid off and ended up moving across state lines.  Trying to get that one late payment removed due to change of address.  

I finally got my score up to 609 about 1 1/2 months ago and I saw on Credit Karma that I qualified for Capital Ones unsecured card.  I jumped on it.  Ended up being approved for the Platinum and Quick silver 1 both with $500 CL each.  Just one of these cards is more credit than Ive ever had in my life.  Now my Entire Credit Limit is $1900.  Every month I pay my balance in full.  After reading these forums I have learned so much about cut dates, upgrading, combinging, ect.  Too much knowledge floating around this forum to not spend my night at work reading.

I called Capital One today.  My account has only been open maybe a month.  My platinum had a statement on the 9th and my quicksilver has yet to have a statement printed so that statement date is unknown.  Anyway, after reading these forums people talked about upgrading the platinum to the quicksilver card.  I was bored so I decided to call Capital One and see if my card was eligable for an upgrade.  IT WAS!  I was estatic.  But, I have to call back in the morning because thier office that deals with that is closed at the moment.  

I am beyond happy that I am on the road to getting a higher CL and credit scores.  This has been needed for years and I couldnt have done it without you guys.  Ill ask about a CLI today when I call back even though I know ill be declined.  You miss 100% of the shots you dont take.  

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[Anonymous]

Got my first statement finally on my quicksilver one, it has a $500 limit and I spent and PIF over $800 in less than a month.  Never went over 80% UT before waiting for payment to post.  Im hoping after 2nd statement my QS1 and my new upgraded QS will be able to have a CLI than I can sockdrawer them for awhile.  

Does anyone know how long it takes for Cap1 to report to credit reports?  The extra cards with their limits will improve my score but only if they report.  I will wait until my May report but if they do not show up can I request that they report to the bereaus or do I just wait it out?

[RonM21]

Congrats OP on your success!!!

[score_is_497_hehe]

Believe me when I say I know what you feel. Look at my registered date <-- and my user name. I've been there! For me unfortunately registering here almost 10 years ago did no good. I started to rebuild, then was late on payments and ended up with charge-offs again.

About 2 years ago I've opened capone unsecured visa, they gave me $300. Few months later it was 500, then 750 or something. In December 2015 my CL was 1,000 with them, I did not call them for CLI ever. Then they auto-upgraded it to Quicksilver with CL of 1,500. I've stayed with 1500 for long time. Yesterday I clicked "request cli" link on their site, and they bumped me for 2 g's, so now it's 3.5k.

Just 15 minutes ago I got approved for Amex blue cash with 5k SL. 2 days ago approved for Amex Green. So I'm like w. the f.! Excited that finally my patience starting to pay off. 

So I just wanted to give you first hand example that 490 score is not the end of the world, and you just have to slowly work your way through! 

Good things come to those who wait

Good luck to you!

[Anonymous]

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@score_is_497_hehe wrote:

Believe me when I say I know what you feel. Look at my registered date <-- and my user name. I've been there! For me unfortunately registering here almost 10 years ago did no good. I started to rebuild, then was late on payments and ended up with charge-offs again.

About 2 years ago I've opened capone unsecured visa, they gave me $300. Few months later it was 500, then 750 or something. In December 2015 my CL was 1,000 with them, I did not call them for CLI ever. Then they auto-upgraded it to Quicksilver with CL of 1,500. I've stayed with 1500 for long time. Yesterday I clicked "request cli" link on their site, and they bumped me for 2 g's, so now it's 3.5k.

Just 15 minutes ago I got approved for Amex blue cash with 5k SL. 2 days ago approved for Amex Green. So I'm like w. the f.! Excited that finally my patience starting to pay off. 

So I just wanted to give you first hand example that 490 score is not the end of the world, and you just have to slowly work your way through! 

Good things come to those who wait

Good luck to you!

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Thank you for your input.  Seems like we were in very similar situations.  in 2012 I had all of my collections paid and up to date on all payments, than in 2014 a poor paying job and too many bills and the lates started piling up once again.  I got a great job opportunity and spent an entire year paying down everything I could.  Went from 40k+ total debt to 11k that I am at now.  

I have 0 collections (although 5 are still showing up on TU as paid).  I do however have over 47 late payments from 2014 and a couple charge offs.  That is what will hurt my credit the most for a longer period of time.  I cannot get those lates off of my report.  I have to wait 5 more years before they are just gone.  As long as I can stay on the path I am on now I will be in great shape.  

With the information and help of this forum I have a good feeling about my furture now.  

Also, one of my capital one cards started reporting to TU so shouldnt be too long and I will be all set with all 5 cards reporting $0 balance except for one of my Cap1 cards which will show about 5% UT for the card

[score_is_497_hehe]

 It does take that many years for them to disappear, but don't forget as they age off, they have less and less impact on your score. I still have 3 collections reporting, but it's been since mid-late 2011, so I'm not going to pay them now, it will be better for them to just fall off.

I think of baddies vs good credit lines as a slider: take last 2 years and then: bad <==||=====> good, the more good adds up on the right side, the further slider moves to the left, so that's how it will look generally for the CC lenders. If it's older then 2 years it's not nearly as bad as something from last month.

You have very good utilization, keep it that way. I did the same, I never really needed credit for the sake of having option to buy something I can't afford, so I always kept my stuff at 0 or amount equivalent to the tank of gas. Something really small, so that they will see that I'm using it and hopefully won't close my account(s).

[Anonymous]

Couple questions I'm hoping someone can answer so I dont have to start another thread.

After I get my CLI from Cap1 I will be closing my capital bank secured card and credit one unsecured card.  This will leave me with my US bank secured card and 2 cap1 unsecured cards.

I want to take my deposit and roll that into a secured discover card so i can start building a file with discover.  Would this be a bad idea to get another secured card?  Also, would CITI or Discover be a better secured card to begin with?

[titanium_bbx]

Way to go theriddler07sms. I started out in about the same place credit score wise, and with the same two Cap One cards. The lines have since x3/x4, just wait it out, if it doesn't happen now, pay in full for a while, like you said. Congrats!