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Hi everyone, just wanted to make a post and see if anyone has had a similar experience with Capital One. Pretty much about 1 1/2 months ago I applied for the Capital One Quicksilver One card and was approved for $2,000 dollar credit line. I'll be heading to Europe at the end of August and I wanted a little bit of a higher CL so I didn't have to worry so much about cash there and security purposes.
However, I went to do a CLI increase and it said account was still to new and denied me. Because I don't have many HPs on my CR I decided to app for the Quicksilver VISA with the 0% offer until May 2016 plus $100 dollar bonus after spending $500, and to my surpise they approved me instantly for $3,000. Just shocked me because I really only wanted another $1000 or so for traveling and all it took was to apply for the other card.
Also, does anyone know what scores are average for approval of this card? I had a bankruptcy a few years ago that hasn't fallen off my report and I do not know my current FICO scores, only FAKO through CK reporting TU 693 and EQ 696.
Now my current wallet includes:
(Total util is about 9%, I pay multiple times a week / month but always let a small balance post)
Barclay Rewards: $1,800 (Increased from 1300 few days after app)
Cap 1 QS One: $2,000
Cap 1 QS Visa: $3,000
Cap 1 Secured: $500
Thanks for the advice, and great thing is my QS1 is still 0% until Apr 2016 and the new QS 0% till May 2016!
congrats.........enjoy. Cap 1 is really improving these days IMO.
Cap One is one of many CC issuers where it is easier to get a higher limit on a second card than it is to get a CLI on an existing card For Cap One this is especially true if the existing card started off as one of their rebuilder/sub-prime cards. Cap One does reward usage, especially if you make big payments as well.
Congrats!
You were truly blessed. That should help you enjoy your trip more. Happypill sized Capital One up perfectly.
Welcome. I normally ask for a cli 60 days after I received my card. Try it with the new QS. Normally works fine. Other than that, it will be a good 6 months before you can ask for another. You're doing great. Have a wonderful vacation.
@Anonymous wrote:Welcome. I normally ask for a cli 60 days after I received my card. Try it with the new QS. Normally works fine. Other than that, it will be a good 6 months before you can ask for another. You're doing great. Have a wonderful vacation.
+1
Welcome! Sandi is right on the money (pun intended... LOL)
I had a QS1 with a credit line of $1720. Last Nov, I used the website to request a CLI and they increased it $200 to $1920; not exactly what I was 'hoping' for, but I didn't turn it down (in hindsight, I probably shoud have and I could have tried again in a couple of months for a more generous CLI, but that's for another thread...)
Back in March, I had something come up (much like your trip) and I needed a higher credit line, so I checked the prequal page and it said I was prequalified for the QuickSilver Visa, so I app'd, and was approved for the QS Visa Signature with a $5K credit line! Keep in mind, just a few months earlier, they would only give me a $200 increase on the QS1...
Further... after I had my fourth statement, I requested a CLI for the new QS Visa (again, on the website) and they increased it from $5K to $7K (more than the entire CL on the other card). Feeling confident, I then switched over to the QS1 to request a CLI for it, and they increased it by $1K, to $2920.
Hang in there, and Capital One will be generous! In my case, I think it helped that I used it for my 'everything' card, and made large payments each month. I will note, though, that since my new QS card is under the 0% APR promo, I was *not* paying it in full, but I was making payments from $500-$1000 each month, with the balance hovering around $1500-$2500. (In other words, I didn't have to PIF each month to get a nice CLI, but I did make significant payments).
Don't sweat paying the AF for the other card; it will actually work out because before the next AF hits you'll be able to 'merge' the credit line into your new no-AF card. Of course, you can also try to have the AF waived next year and just keep the cards seperate, but at least you know you can merge them if they are stubborn with the AF (like they are with me... <sigh>)
Again, congrats! You're going to really like dealing with Capital One. They have been solid as a rock for me, and having no FOREX will really come in handy with your upcoming trip!