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Contributor
Charmlessman
Posts: 88
Registered: ‎03-19-2013

Capital 1 Secured card in the mail

Hi guys, after very good advice from the forum members, I was approved for a Capital 1 Secured Mastercard. I am new to USA and building credit. I just received an email saying my new card is on its way. :smileyhappy:

 

I only have that one card and was told to hang on to it at least for 6 months which I will do as well as making $500 deposits every month to increase CL, paying in full and having less than 9% utilization. My question is, should I apply for another card to have 2 cards in order to improve my score or should I play it safe for 6 months? I was on my way to apply for a CU card but decided to follow advice given in this forum but I would like to confirm that I did the right thing. 

 

Thinking ahead and following a suggestion from a member of the forum I am thinking about applying for an AMEX charge card once at least 6 to 8 months have passed.

 

Thanks 

Regular Contributor
RTOrockstar
Posts: 232
Registered: ‎02-02-2012

Re: Capital 1 Secured card in the mail

Congrats on the new card!

 

Personally, I'd probably wait a few months before applying for another one, but there are more experienced members here who might be able to give better judgment than mine.

Wallet:
CapOne QuicksilverOne $500/VS $700/Express $500/Walmart $2000/Old Navy $600/SC Telco Visa $1K/HH Gregg $1500/Target REDcard $200



Contributor
dpride86
Posts: 96
Registered: ‎02-01-2013

Re: Capital 1 Secured card in the mail

You should apply for another card. Try a store card, those are easy to get

Pride

Current Score: TU 690 EQ 707 and EX 688 5-14-14

My Goal: 700+ on all 3

In My wallet: NFCU Cash Rewards 14k, DCU Visa Platinum 7.5k, Penfed Promise 6.5k, Amex BCE 6k, Kays Jeweler 6.4k, Capital one QS 5K, Chase freedom 4k, Amazon Chase 2k, Livingsocial Chase 2k Express 1.16k and Capital one Secured 0.750k
Community Leader
Senior Contributor
myjourney
Posts: 25,139
Registered: ‎02-07-2013

Re: Capital 1 Secured card in the mail

You should stick with the original plan for best results

"Intelligence plus character--that is the goal of true education"
I will be gardening until a better offer/bonus comes along
Last escape 06/06/13 Bronze 7/6/2013 Silver 9/6/2013 Gold 12/6/2013 Palladium 3/6/14 made it...6/6/14 Plat is all mine
Contributor
Charmlessman
Posts: 88
Registered: ‎03-19-2013

Re: Capital 1 Secured card in the mail

Thanks all

 

@Myjourney i have read almost all your posts on your blog. Good info. Thanks for sharing that! I plan to follow original plan and keep you guys updated. 

 

 

Community Leader
Senior Contributor
myjourney
Posts: 25,139
Registered: ‎02-07-2013

Re: Capital 1 Secured card in the mail


Charmlessman wrote:

Thanks all

 

@Myjourney i have read almost all your posts on your blog. Good info. Thanks for sharing that! I plan to follow original plan and keep you guys updated. 

 

 


I look forward to seeing great success from your future post which will include good cards,limits and outstanding scores:smileywink:

"Intelligence plus character--that is the goal of true education"
I will be gardening until a better offer/bonus comes along
Last escape 06/06/13 Bronze 7/6/2013 Silver 9/6/2013 Gold 12/6/2013 Palladium 3/6/14 made it...6/6/14 Plat is all mine
New Contributor
Richierichdollar
Posts: 116
Registered: ‎03-10-2013

Re: Capital 1 Secured card in the mail

[ Edited ]

Congrats. I started with this card april of 2012 with a $750 limit waited till feb 2013 to apply for unsecured card and was approved, then approved for discover card today. This is just to say that the card and the info from the people here can bring you to wonderful credit cards and limits with due time

Contributor
Charmlessman
Posts: 88
Registered: ‎03-19-2013

Re: Capital 1 Secured card in the mail

Thanks, I have no doubt info is very helpful and I will stick to the plan and garden. 


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