How should i Use my Capital one card?

[Anonymous]

How should I use my New Capital 1 card? money isnt really too much of an issue, i was going to use it in place of my Debit card, is this an acceptable method?

I plan to pay it to 10-15% UTIL on cut date and PIF 4-5 days after cut. I just want the best credit building.

Also, i dont want to scare capital one, is it frowned upon to use your card past certain % milestones?
$700 Limit, i could see myself using $300-500 a month on it in place of debit card expenses, what do you all think. Tips? Suggestions? thank you!

[Anonymous]

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@Anonymous wrote:

How should I use my New Capital 1 card? money isnt really too much of an issue, i was going to use it in place of my Debit card, is this an acceptable method?

I plan to pay it to 10-15% UTIL on cut date and PIF 4-5 days after cut. I just want the best credit building.

Also, i dont want to scare capital one, is it frowned upon to use your card past certain % milestones?
$700 Limit, i could see myself using $300-500 a month on it in place of debit card expenses, what do you all think. Tips? Suggestions? thank you!

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Bingo! That is exactly what you want to do. Pay it to BELOW 10% before the statement cuts. Use it as much as you like, as long as you pay it down frequently. The more you use it, the more they make from vendor fees, which is "low risk money" for them.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

How should I use my New Capital 1 card? money isnt really too much of an issue, i was going to use it in place of my Debit card, is this an acceptable method?

I plan to pay it to 10-15% UTIL on cut date and PIF 4-5 days after cut. I just want the best credit building.

Also, i dont want to scare capital one, is it frowned upon to use your card past certain % milestones?
$700 Limit, i could see myself using $300-500 a month on it in place of debit card expenses, what do you all think. Tips? Suggestions? thank you!

---

Bingo! That is exactly what you want to do. Pay it to BELOW 10% before the statement cuts. Use it as much as you like, as long as you pay it down frequently. The more you use it, the more they make from vendor fees, which is "low risk money" for them.

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Also once your accounts have reported for a couple of months go app for a Cap One QS1 card.

[Anonymous]

What do you define as "Couple of months"? I only ask because i have friends who think any number between 2-9 seems to be a couple....also have friends who think a FEW means 2 lol

[Anonymous]

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@Anonymous wrote:

What do you define as "Couple of months"? I only ask because i have friends who think any number between 2-9 seems to be a couple....also have friends who think a FEW means 2 lol

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Couple = 2. As in a married couple. Few =2 or more, but single digits. Many = over 10.

Thats the way I see it.

[Anonymous]

Thank you! Someone who sees those terms with some sense! Seriously though after BK DC and only 2 months of cap1 sec usage you think I'd really have a shot at a qs1?

[Anonymous]

Keep checking the Cap One prequal webpage. Once you receive offers, than app. Their prequal offers are usually approvals. Because you've got a card with them, you should get see the offers once you reach a point that they'll approve you. Best of luck.

[Anonymous]

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@Anonymous wrote:
Thank you! Someone who sees those terms with some sense! Seriously though after BK DC and only 2 months of cap1 sec usage you think I'd really have a shot at a qs1?

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Yes, Cap One is VERY rebuilder friendly and will often issue unsecured cards immediately after a BK. As soon as you get the score bump from the card reporting, go app. Do not even mess with the prequal.

[Anonymous]

U guys are getting me all excited about this lol. the light at the end of the tunnel just got excruciatingly bright

[Anonymous]

Having your card paid down to 10-15% every month will not build your score any faster than having it totally maxed every month. If you let your card show 90% utilization for a year, then paid it down to 10-15%, it would have the same effect as what you are describing. Your score will still be EXACTLY the same.