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How long after having a secured cap one were you able to get approved for an unsecured card like quicksilver? I have only had their secured card for a short time but when i checked their prequalifying page I get this message"we couldn't match your records to a card offer.But based on your answers, we think you might like this card".And it shows me the quicksilver.
Usually if they will approve you for a secured card they will also approve your for the platinum or QS1. What are your scores? Baddies? Past experience with them?
It does seem if you are going to be declined with them, they will decline you for a secured card as much as they will decline your for unsecured.
I 492 exp 523 tu and 483 equifax. I have a few baddies on my report also. I never applied for the quicksilver one cause i assumed i couldnt get it so just applied for the secured. I am afraid of a hp if i am going to get denied. I would really like a rewards card though.
I do think it would be wasted HP's with scores under 500.
Do you have at least three cards? If you don't, you should get a $200 secured OpenSky (no credit check) and a $200 secured Primor card (again I think no credit check).
Having three cards should get you into the mid 500s depending on how recent your bad stuff is. I would think 580 is probably the safe mark for Cap 1 unsecured.
Getting scores up from the high 400s to the high 500s is usually pretty easy. Knock off a few baddies, pay on time for a short while, get 3 revolving cards ... right some GW letters, challenge some stuff on your reports.
With scores under 500 you really should not be worried about rewards cards. You just need to get some cards. Any rewards cards you could get will be crappy rewards that aren't worth anything anyway.
I guess its possible to get one soon after, then again my scores are really low.
@Anonymous wrote:I 492 exp 523 tu and 483 equifax. I have a few baddies on my report also. I never applied for the quicksilver one cause i assumed i couldnt get it so just applied for the secured. I am afraid of a hp if i am going to get denied. I would really like a rewards card though.
No you won't get a (single) HP, you'll get 3 HP's.
So should you waste 3 HP's with a average FICO score of 500?
I say No, even Cap1 won't take an unsecured chance on you at this point, that is what the secured cards are for.
Thanks for the advice.