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Contributor
agforfree5
Posts: 109
Registered: ‎09-26-2012
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Re: Cap1 secured to unsecured


glendazamot wrote:
I think he means hard pulls from your credit.

Ah gotcha. Sorry noob.

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LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Cap1 secured to unsecured


agforfree5 wrote:

HPs ?


HP = Hard Pull.

 

There are 2 different types of Inquries on your CR. Hard Pull and Soft Pull. Hard Pulls are the ones that haunt your credit for 2 years. Soft Pulls are pulls that dont affect your credit but creditors can still request your file for CLI's, account reviews, etc.

 

Cap1 is notorious for HP'ing all 3 of your reports for new credit. Its pretty ridiculous and thats why most people tend to stay away from them if your informed about it.

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
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Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Cap1 secured to unsecured


glendazamot wrote:
Well I guess is too late now but I only have one secured card. Should I open another one with BOA? I am also listed as an AU on my moms cc from Walmart.

-How many cards do you currently have?

-How many INQ's do you have on each report?

-Any Baddies??

-AAoA??

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
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Contributor
agforfree5
Posts: 109
Registered: ‎09-26-2012
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Re: Cap1 secured to unsecured


LS2982 wrote:

agforfree5 wrote:

HPs ?


HP = Hard Pull.

 

There are 2 different types of Inquries on your CR. Hard Pull and Soft Pull. Hard Pulls are the ones that haunt your credit for 2 years. Soft Pulls are pulls that dont affect your credit but creditors can still request your file for CLI's, account reviews, etc.

 

Cap1 is notorious for HP'ing all 3 of your reports for new credit. Its pretty ridiculous and thats why most people tend to stay away from them if your informed about it.

 


Thanks, I did not realize Cap 1 HPs all the bureus. Would have been good to know before i got the Cap 1 Venture & Secured.

Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Cap1 secured to unsecured


agforfree5 wrote:

LS2982 wrote:

agforfree5 wrote:

HPs ?


HP = Hard Pull.

 

There are 2 different types of Inquries on your CR. Hard Pull and Soft Pull. Hard Pulls are the ones that haunt your credit for 2 years. Soft Pulls are pulls that dont affect your credit but creditors can still request your file for CLI's, account reviews, etc.

 

Cap1 is notorious for HP'ing all 3 of your reports for new credit. Its pretty ridiculous and thats why most people tend to stay away from them if your informed about it.

 


Thanks, I did not realize Cap 1 HPs all the bureus. Would have been good to know before i got the Cap 1 Venture & Secured.


Not many people do unless your familiar with this site or have done business with them in the past and monitor your reports. It really sucks.

 

For some of their prime cards they may hit 1 CR but thats definitely YMMV.

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Contributor
glendazamot
Posts: 89
Registered: ‎07-28-2012
0

Re: Cap1 secured to unsecured

Currently I only have the secured card with Cap1 ( credit limit 300.00). I am an AU on my mom's Walmart cc ( credit limit 3,500 with a 900.00 balance) and I have 3 baddies ( cap1 charge off from 2010, target charge off from same year and a charge off from Continental which I am disputing). My oldest acct was opened 9 years ago which is my student loan which is paid and in good standing. I also have a car loan from Jun 2011 paid on time every month. Hope that helps. Oh and inq I have a lot about 11.
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LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Cap1 secured to unsecured


glendazamot wrote:
Currently I only have the secured card with Cap1 ( credit limit 300.00). I am an AU on my mom's Walmart cc ( credit limit 3,500 with a 900.00 balance) and I have 3 baddies ( cap1 charge off from 2010, target charge off from same year and a charge off from Continental which I am disputing). My oldest acct was opened 9 years ago which is my student loan which is paid and in good standing. I also have a car loan from Jun 2011 paid on time every month. Hope that helps. Oh and inq I have a lot about 11.

Probably would be best to take it easy on the apps for a year and gain some more positive history. In the meantime i'd be working on cleating up some of the baddies. Are any of the CO's paid?

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Moderator
Revelate
Posts: 9,016
Registered: ‎12-30-2011
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Re: Cap1 secured to unsecured

For anyone without access to NFCU, BOFA is far and away the best secured product available. Between C1 and BOFA secured you have two of the top 3-4 options.

You want 2-3 cards for rebuilding, one is too few to maximize your credit score.

It really doesn't matter too much in the long run which secured cards you get as long as they report to the bureaus, though personally I'd pick either BOFA, Citi, or whatever bank I had a relationship with already (Wells Fargo or credit union); however, I'm partial to doing business with lenders that are useful once one gets to a good FICO score in addition to rebuilding with.
Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Contributor
glendazamot
Posts: 89
Registered: ‎07-28-2012
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Re: Cap1 secured to unsecured

Yes the Cap one is paid, I am in the process of sending a pfd to Target and the continental acct hopefully will be deleted. I have tried sending DVs to Cap1 but no success. : (
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Cap1 secured to unsecured


glendazamot wrote:
Yes the Cap one is paid, I am in the process of sending a pfd to Target and the continental acct hopefully will be deleted. I have tried sending DVs to Cap1 but no success. : (

A DV is not going to do you any good with the paid Cap1 account, you need to be sending GW's but Cap1 is not a friendly GW lender.

 

Keep trying with the other 2, sometimes it takes a while but in the long run it helps drastically for your credit!

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014

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