Hello,
I'm just starting to build my credit, and I have an entry level Capital One card as one of my credit cards. I have been doing a lot of reading about how difficult it is to get CLIs and such from Cap1, and how people who have had difficulties getting CLIs were able to increase their limits by combining cards.
At some point, I would like to get a No Hassle Cash Rewards card from Capital One to combine with my entry level card, but I don't want to have to pay an annual fee. In order to get a No Hassle Cash Rewards card with no annual fee, Cap1 says you need "Good Credit" which they define as:
* I have had a loan or credit card for three years or more
* I have had a credit card with a credit limit above $5,000
* I have not been more than 60 days late on any credit card, medical bill, or loan in the last year
My question is: do I really need to have three years of credit history to have "Good Credit" in Cap1's view? What if I've had 9 months to a year of perfect credit use (1% - 9% util, PIF every month, on time, no baddies, no/few inquiries)? That far exceeds the requirement of simply not having a 60+ day late in the past year, but won't be over three years of history and might not result in getting another card with a credit limit above $5,000.
Has anyone with less than three years of credit history had success in getting one of Cap1's cards for people with "Good Credit" or "Excellent Credit," or does the system automatically deny anyone with a limited [but possibly perfect] history?
Thanks,
Nick
