Re: Finally Approved for SOMETHING!

LouisvilleStunner · ‎12-30-2014

I hadn't applied for new credit in years, cause I knew I would be denied. I got my student loans current this year, and I received offers for two Capital One cards - The Platinum MasterCard and the QuickSilver Rewards Visa. I applied to them a week apart and got approved for a $300 limit on both. Going to use them for my recurring payments that I was alreayd paying for, such as my gym membership, Netflix and small miscellaneous purchases. I'm worried about the credit utilization ratio, but I can afford to pay them in full easily, as I just got a raise at my job. Here's to using credit responsibly in 2015! Any tips will help!

Cap One MC Platinum - Opened 12/2014 $300 --> $1,300 6/2015
Cap One QS - Opened 12/2014 $300 ----> $1,300 6/2015
Scores: FICO - 547 10/2015
Goal: 600 by 10/2016

Anonymous · ‎12-30-2014

Congrats on starting back with the credit world!

Here are some tips from me:

You have two credit cards, both with $300 limits. That's equivalent to $600 in available credit you have. Here's the best way to maximizing FICO scoring in your situation: Have only one card report a balance. What I mean by that is that you can charge whatever you like on both the cards, just make sure before the statement cuts that you have one fully paid off and the other leaving a balance of around $30--which puts you at a 5% utilization.

Soon whenever your statement reports, just go ahead and pay it all off. Repeat, repeat, repeat!

FlawlessShineAutoSpa · ‎12-30-2014

Congratulations for your Cap1 approvals! Continue Success in The World of Credit Cards!

American Express Blue Cash Everyday $2000 •• Cap1 Venture One $10K
Barclaycard Rewards Mastercard $1500 •• Chase Freedom Visa $3500
Cap 1 Quicksilver Visa $5000 •• Cap 1 Quicksilver Mastecard $2000
Syncrhrony $1500 •• Citi Double Cash $1700 •• Cap1 Spark Classic $2000
Credit One Visa $500

Anomalous · ‎12-30-2014

Congratulations!

Keep both your credit and your body in top shape!

uswala · ‎12-30-2014

Congrats!

robbulous · ‎12-30-2014

Congrats on your approvals. You're where I was about 6 years ago. Just keep things under control and you'll be fine!

NPSL.................$30,000............$28,000.............$20,500............$28,000............$80,000............$19,000............$21,300..............$20,500
Current FICO Score Across All 3: 770+..... GOAL: 800+ Current Utilization: 5%....... Infiniti Financial Auto Loan at 1.9%

LouisvilleStunner · ‎12-30-2014

Thanks everyone! I'm listening and applying all advice given to me!

Cap One MC Platinum - Opened 12/2014 $300 --> $1,300 6/2015
Cap One QS - Opened 12/2014 $300 ----> $1,300 6/2015
Scores: FICO - 547 10/2015
Goal: 600 by 10/2016

Anonymous · ‎12-30-2014

Congrats!

gdale6 · ‎12-30-2014

@LouisvilleStunner wrote:
I hadn't applied for new credit in years, cause I knew I would be denied. I got my student loans current this year, and I received offers for two Capital One cards - The Platinum MasterCard and the QuickSilver Rewards Visa. I applied to them a week apart and got approved for a $300 limit on both. Going to use them for my recurring payments that I was alreayd paying for, such as my gym membership, Netflix and small miscellaneous purchases. I'm worried about the credit utilization ratio, but I can afford to pay them in full easily, as I just got a raise at my job. Here's to using credit responsibly in 2015! Any tips will help!

Grats to your continued success

Anonymous · ‎12-30-2014

Congrats on your approvals.

Finally Approved for SOMETHING!

Get your FICO® Score for free

Finally Approved for SOMETHING!