Capital One - Do I qualify for EXCELLENT credit?

[Anonymous]

Holy crap, sorry guys.

Freaking Internet Explorer 9 sucks with certain sites and this is one of them....

I have $18000 / $33000 credit utilization with largest credit limit being $25000.

I have $9000 left on an auto lease over next 18 months.

I have PAID OFF a $15000 student loan 5 years ago.

I have no late or delinquent accounts ever.

Is this good enough to qualify for excellent credit at Capital One?  I know my utilization is a little high.

[thrasher865]

It would be more helpful to know your actual FICO scores and your income.  That is pretty high utilization, though, but if your score is well into the 700s, I would think so.

[Anonymous]

Sorry guys... Stupid IE9...

[Anonymous]

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@Anonymous wrote:

Holy crap, sorry guys.

Freaking Internet Explorer 9 sucks with certain sites and this is one of them....

I have $18000 / $33000 credit utilization with largest credit limit being $25000.

I have $9000 left on an auto lease over next 18 months.

I have PAID OFF a $15000 student loan 5 years ago.

I have no late or delinquent accounts ever.

Is this good enough to qualify for excellent credit at Capital One?  I know my utilization is a little high.

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Do you have any idea what your scores are?

[Anonymous]

Based on estimator of this site, 630-680, but I have heard Capital One has a different way of rating people's credit... Which is why they randomly give out $300 credit cards.

[Anonymous]

Capital One pulls all three reports, and IIRC, they use FICO scores.

I'd say that you probably won't qualify for their "Excellent" credit tier if you're in the 630 to 680 range, and because of the greater than 50% utilization. But, if you could get your utilization in check, you probably would.

Why are you in the market for a new card? Are you planning to travel abroad, and looking for something with no foreign transaction fees (Cap1 cards are known for this)?

[Anonymous]

Yup, for the foreign transaction fees!  But I just noticed Citi also has a Thank You card which waives those fees also, and they do tend to give better credit limits from what I've seeing... But we'll see.

[CCOCD]

You can click on EXCELLENT CREDIT on their site and they tell you what they deem as excellent.

[Anonymous]

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@Anonymous wrote:

Yup, for the foreign transaction fees!  But I just noticed Citi also has a Thank You card which waives those fees also, and they do tend to give better credit limits from what I've seeing... But we'll see.

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Citi has a card with no FTF??? which one is it? 

[vish1]

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@Anonymous wrote:

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@Anonymous wrote:

Yup, for the foreign transaction fees!  But I just noticed Citi also has a Thank You card which waives those fees also, and they do tend to give better credit limits from what I've seeing... But we'll see.

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Citi has a card with no FTF??? which one is it? 

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I am not sure about a citi card with no FTF, but I know chase BA is no FTF.

OP: As long as you have 1 on your card with greater than 5k CL is more than 3 years old, you should be good. But remember this is just a rough scale for basic criteria. With your Util, you may get approved but may not get a good CL and Cap1 sucks in terms of CLIs so weigh this in your decision.