Capital One Cash Rewards

[muumike]

Just looking for some feedback on the card - if approved or declined what were your scores and/or background??

I'be had a secured with them since November, on time with util under 10%. Figured I would go for an unsecured with them in the next month or so to get a decent starter limit and establish myself more before going to the bigger and better cards (Chase, Discover, AmEX).

Anything at all would be appreciated. Had EQ Fico 592 in November when I got my Cap1 secured, now I am at EQ 635 and expecting score watch to hit with my updated EQ tomorrow showing the new under 10% util (from 27%).

I am working to resolve two collections from a few years back and have a student loan paid on time since it began billing last March. I don't plan to go app crazy or anything. I just want to know if I am thinking correctly, so anything at all would be greatly appreciated.

[trumpet-205]

There are two versions of this card, average credit and excellent credit. Average credit is a lot easier to get, but has an AF of $39. Excellent credit does not have AF.

[muumike]

Would it make sense to garden a bit longer then go for the $0 AF (hoping if they decline I get offered the version with $39)?

[trumpet-205]

Excellent credit version requires you to have a trade line of $5000 CL or above in goodstanding for 5 years. No negative information is allowed on your credit report for the last two years. Capital One does not counter offer if denied.

[muumike]

Now that I better understand the qualification, would it make sense to just wait it out a bit and go for the card for avg credit?

[trumpet-205]

Capital One average credit is pretty easy to get. I agree with you to wait couple more months then give it a go.

[LS2982]

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@muumike wrote:
Just looking for some feedback on the card - if approved or declined what were your scores and/or background??

I'be had a secured with them since November, on time with util under 10%. Figured I would go for an unsecured with them in the next month or so to get a decent starter limit and establish myself more before going to the bigger and better cards (Chase, Discover, AmEX).

Anything at all would be appreciated. Had EQ Fico 592 in November when I got my Cap1 secured, now I am at EQ 635 and expecting score watch to hit with my updated EQ tomorrow showing the new under 10% util (from 27%).

I am working to resolve two collections from a few years back and have a student loan paid on time since it began billing last March. I don't plan to go app crazy or anything. I just want to know if I am thinking correctly, so anything at all would be greatly appreciated.

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I would try to hold on to the secured card for a full year then go for the cash rewards, will more than likely get a better CL doing that.

[Anonymous]

Excellent credit version requires you to have a trade line of $5000 CL or above in goodstanding for 5 years.

Is this a CapOne criteria, or does it apply to other CCC?

My Discover CL just went to 5k.  I'm looking to APP for another card hoping to get another 5K limit.

I do have a Chase Ink Business card with 5k limit.  It's about 3 years old.

[Ron1]

Don't forget!!! They pulled all 3 for credit decision.

Ron.

[Walt_K]

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@Anonymous wrote:

Excellent credit version requires you to have a trade line of $5000 CL or above in goodstanding for 5 years.

Is this a CapOne criteria, or does it apply to other CCC?

My Discover CL just went to 5k.  I'm looking to APP for another card hoping to get another 5K limit.

I do have a Chase Ink Business card with 5k limit.  It's about 3 years old.

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Cap One guideline.  Go to their preapproval page and click on the link that explains their credit levels.  It's 3 years, not 5 years though.