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@xXIDaShizIXx wrote:
@MissCredit9 wrote:
@xXIDaShizIXx wrote:Also, did you only leave $500.00 on your card? Because that is all that I have on my capital one as well.
My secured card was for $1000.00. They actually gave me an increase to 1300.00 on the card after 6 months though. The $500.00 Quicksilver in my siggy is the first unsecured card that I appe'd for. I couldn't understand why they gave me such a low limit on the Quicksilver when I had a good "history" with my secured. My theory now is why would a creditor give you a non-secured card with a higher limit than your secured card with them which will probably just result in you closing the secured card which is free money for them until you close it? That's why I advise putting your eggs in one basket with the secured cards. Discover or Barclays will be more likely to try to one-up a competitor creditor's limit than their own when you eventually apply unsecured. If you can afford to put more than $1000.00 you may even have quicker results. i believe what is holding your score down is low limits and a low number of trade lines. My scores went up by about 60 points after adding my 2nd and 3rd tradelines (Quicksilver and Barclays).
So should I just stick with this one at $500? Add more to it, and if so how much? And how long should I keep it until applying for anything unsecured?
OP, I aready answered BOTH of those questions in a previous post on this thread.....
OP, 4 months is not that long, try to be patient. I started off with a cap1 secured in November 2012, waited 8 months and got all the cards I have now between 8/13 and 1/14. I would not get anymore $500.00 secured cards or when you app for unsecured cards you will be stuck in low limit hell. I would wait til the account is 6 months old then app for Barclays or Discover (unsecured). I would wait to close the secured card until it has been open for 1 year. if you feel the need to invest more money in your credit then add a deposit make the Cap1 limit higher. Larger limits beget larger limits.
Here is my cap 1 account from MPM. Notice TU is behind. They stay 30+ days behind in reporting and CK is Transunion,
Dont Close but pull other reports and see if it is there.
I just got notice from Credit Karma my Cap 1 got a auto increase. It started off as a Orchard bank CC with a 300 limit and I got a 100.00 CLI when cap one took it over a few months back. Now its 2,000.00. Hang in there!
@MissCredit9 wrote:
@xXIDaShizIXx wrote:
@MissCredit9 wrote:
@xXIDaShizIXx wrote:Also, did you only leave $500.00 on your card? Because that is all that I have on my capital one as well.
My secured card was for $1000.00. They actually gave me an increase to 1300.00 on the card after 6 months though. The $500.00 Quicksilver in my siggy is the first unsecured card that I appe'd for. I couldn't understand why they gave me such a low limit on the Quicksilver when I had a good "history" with my secured. My theory now is why would a creditor give you a non-secured card with a higher limit than your secured card with them which will probably just result in you closing the secured card which is free money for them until you close it? That's why I advise putting your eggs in one basket with the secured cards. Discover or Barclays will be more likely to try to one-up a competitor creditor's limit than their own when you eventually apply unsecured. If you can afford to put more than $1000.00 you may even have quicker results. i believe what is holding your score down is low limits and a low number of trade lines. My scores went up by about 60 points after adding my 2nd and 3rd tradelines (Quicksilver and Barclays).
So should I just stick with this one at $500? Add more to it, and if so how much? And how long should I keep it until applying for anything unsecured?
OP, I aready answered BOTH of those questions in a previous post on this thread.....
OP, 4 months is not that long, try to be patient. I started off with a cap1 secured in November 2012, waited 8 months and got all the cards I have now between 8/13 and 1/14. I would not get anymore $500.00 secured cards or when you app for unsecured cards you will be stuck in low limit hell. I would wait til the account is 6 months old then app for Barclays or Discover (unsecured). I would wait to close the secured card until it has been open for 1 year. if you feel the need to invest more money in your credit then add a deposit make the Cap1 limit higher. Larger limits beget larger limits.
Thank you guys, I've just been trying to do too much all at once, I agree. I'll just slow it down and let my account age to six months. Then reapply later. I will probably get the Cap1 card up to about $1500.00 so I can use it to pay my bills in full at the beginning of each month and pay it in full over the 30 days before the statement is cut. Sound like a plan? And If I get denied again at the 6 months I guess I'll just wait until a year before I even try again.
@xXIDaShizIXx wrote:
@MissCredit9 wrote:
@xXIDaShizIXx wrote:
@MissCredit9 wrote:
@xXIDaShizIXx wrote:Also, did you only leave $500.00 on your card? Because that is all that I have on my capital one as well.
My secured card was for $1000.00. They actually gave me an increase to 1300.00 on the card after 6 months though. The $500.00 Quicksilver in my siggy is the first unsecured card that I appe'd for. I couldn't understand why they gave me such a low limit on the Quicksilver when I had a good "history" with my secured. My theory now is why would a creditor give you a non-secured card with a higher limit than your secured card with them which will probably just result in you closing the secured card which is free money for them until you close it? That's why I advise putting your eggs in one basket with the secured cards. Discover or Barclays will be more likely to try to one-up a competitor creditor's limit than their own when you eventually apply unsecured. If you can afford to put more than $1000.00 you may even have quicker results. i believe what is holding your score down is low limits and a low number of trade lines. My scores went up by about 60 points after adding my 2nd and 3rd tradelines (Quicksilver and Barclays).
So should I just stick with this one at $500? Add more to it, and if so how much? And how long should I keep it until applying for anything unsecured?
OP, I aready answered BOTH of those questions in a previous post on this thread.....
OP, 4 months is not that long, try to be patient. I started off with a cap1 secured in November 2012, waited 8 months and got all the cards I have now between 8/13 and 1/14. I would not get anymore $500.00 secured cards or when you app for unsecured cards you will be stuck in low limit hell. I would wait til the account is 6 months old then app for Barclays or Discover (unsecured). I would wait to close the secured card until it has been open for 1 year. if you feel the need to invest more money in your credit then add a deposit make the Cap1 limit higher. Larger limits beget larger limits.
Thank you guys, I've just been trying to do too much all at once, I agree. I'll just slow it down and let my account age to six months. Then reapply later. I will probably get the Cap1 card up to about $1500.00 so I can use it to pay my bills in full at the beginning of each month and pay it in full over the 30 days before the statement is cut. Sound like a plan? And If I get denied again at the 6 months I guess I'll just wait until a year before I even try again.
Sounds like an EXCELLENT plan. It is exactly what I would do. I was right where you are 7 months ago you will arrive in no time.
@MissCredit9 wrote:
@xXIDaShizIXx wrote:
@MissCredit9 wrote:
@xXIDaShizIXx wrote:
@MissCredit9 wrote:
@xXIDaShizIXx wrote:Also, did you only leave $500.00 on your card? Because that is all that I have on my capital one as well.
My secured card was for $1000.00. They actually gave me an increase to 1300.00 on the card after 6 months though. The $500.00 Quicksilver in my siggy is the first unsecured card that I appe'd for. I couldn't understand why they gave me such a low limit on the Quicksilver when I had a good "history" with my secured. My theory now is why would a creditor give you a non-secured card with a higher limit than your secured card with them which will probably just result in you closing the secured card which is free money for them until you close it? That's why I advise putting your eggs in one basket with the secured cards. Discover or Barclays will be more likely to try to one-up a competitor creditor's limit than their own when you eventually apply unsecured. If you can afford to put more than $1000.00 you may even have quicker results. i believe what is holding your score down is low limits and a low number of trade lines. My scores went up by about 60 points after adding my 2nd and 3rd tradelines (Quicksilver and Barclays).
So should I just stick with this one at $500? Add more to it, and if so how much? And how long should I keep it until applying for anything unsecured?
OP, I aready answered BOTH of those questions in a previous post on this thread.....
OP, 4 months is not that long, try to be patient. I started off with a cap1 secured in November 2012, waited 8 months and got all the cards I have now between 8/13 and 1/14. I would not get anymore $500.00 secured cards or when you app for unsecured cards you will be stuck in low limit hell. I would wait til the account is 6 months old then app for Barclays or Discover (unsecured). I would wait to close the secured card until it has been open for 1 year. if you feel the need to invest more money in your credit then add a deposit make the Cap1 limit higher. Larger limits beget larger limits.
Thank you guys, I've just been trying to do too much all at once, I agree. I'll just slow it down and let my account age to six months. Then reapply later. I will probably get the Cap1 card up to about $1500.00 so I can use it to pay my bills in full at the beginning of each month and pay it in full over the 30 days before the statement is cut. Sound like a plan? And If I get denied again at the 6 months I guess I'll just wait until a year before I even try again.
Sounds like an EXCELLENT plan. It is exactly what I would do. I was right where you are 7 months ago you will arrive in no time.
Thank you so much for the help. I guess I'll just have to start being so hard headed.