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Regular Contributor
PleioneG
Posts: 114
Registered: ‎08-29-2012
0

Re: I must resist! Tempted to try for Capital One Rewards....


Dustink wrote:

PleioneG wrote:

You're absolutely right and I appreciate the honesty. There is no real need for a new card other than raising our overall limit from 1800 to possible 2000 or more instead. But with proper gardening and time, I'm sure it will get there just through credit limit increases with the two store cards. I've heard great things about Amazon and Walmart.

 

I'll stick with my plan to not app anything until 2014. :smileyhappy: It's when one particular paid off baddie falls off and will definitely kick the credit score up a great deal.


If you are planning to wait until 2014, what is the problem with adding another INQ now? By the time you go to get more credit the INQ will have fallin off already anyways.

 

And imagine if PNC were to give you a card now. It will grow until 2014, and when the baddie falls off you will get an even larger CLI.


That's very true, but I just keep worrying that somehow they'll deny us due to the one bad I can think of. Either way, I will run it by the husband and we'll likely make an ultimate decision. It would be great of PNC gave us a card since we've been with them for years.


Wallet: Capital One Platinum - $2000, Amazon - $3000, Walmart - $3000, Discover It - $1000, Chase Freedom - $3000
Current Score: TU98: 678 - 2/2012, Walmart TU - 672 2/2013, Equifax 713 - 1/2013
Goal Score: 700 for all three.
GC Challenge: App free since 1/2013. No more apps! 2015 for mortgage!
Frequent Contributor
Imua
Posts: 292
Registered: ‎01-17-2009
0

Re: I must resist! Tempted to try for Capital One Rewards....


SnackTrader wrote:

PleioneG wrote:

Suddenly have itchy app fingers for Capital One Rewards card with the AF. We already have the Amazon and Walmart store cards, but a second revolving credit card is sounding ideal at the moment. I'm telling myself to wait a year and try for something else. I was just hoping to somehow have at least one more $500 revolving account to bump up our overall spending accounts.

 

My fear is that they'll decline us even though it's a fairly easy card to get and we already have one account with them in great standing ( always PIF ). What should I do? Should we just wait for 1-2 years like I said or is it worth a shot without being instantly denied even with recon? Will they decline us because of the new accounts? (Amazon, Walmart, auto loan). That's my fear. Getting that hard hit for nothing.


I want to go back to your original post and give some advice from my perspective.  I think the other posters have different opinions on what it takes to build credit, and I hope their journey takes them to where they need to be.  But for you, even if you were to join the reserves and get into NFCU (kind of an absurd thing to do to join a CU...) I don't know if it would be in your best interest to add another card right now.

 

Let's put it this way.  You have 3 credit cards, two of which are very new, and an auto loan reporting to the credit bureaus.  By keeping these in good standing you are likely improving your FICO score each and every month.  From a score perspective, I would say hold off as long as you can on other apps in order to let these accounts age and the inquiries fall off.  Depending on the number of baddies on your past accounts, I can see your scores rising very rapidly, thus setting you up for better cards in the future.  Of course, there are possibly things on your reports you have not talked about here that may prevent scores from moving up.  If that is the case, I reserve the right to change my advice :smileytongue:

 

Now, I am a strong believer in putting financial needs before credit.  So, if you were to need additional credit due to an unforeseen circumstance, I think Capital One is a fine place to try for new credit.  You are already in good standing with them, and they have shown an ability to work with many different customer profiles as evidenced by the amount of people who build/rebuild with their cards.

 

I wish you luck in growing your scores.  I think you have done a lot to help by adding some tradelines recently, and as long as you keep them in good standing you should see results.  

 

 


great advice :smileyhappy:

imo, something people don't always take into account is the hgher their FICO score, they can not only get a cc with a higher CL, they can often get lower (the lowest) apr for that card.

 

i know, i know... most of us plan to PIF each month to avoid paying interest, but it is very NICE to have at least one card with lower apr JUST IN CASE one needs to carry a balance, even for a few months 

 

(been there, done that. for 4 years, i PIF all of my cards, but this past summer, due to an emergency situation, i had to charge 3K and carry a balance for 3 months.  i was ever so grateful to have chase freedom at 9.75%! )


BofA visa $9.4k ... BofA Cash Rewards visa sig $10k ... Cap 1 Venture1 visa sig $10k ...
Chase Freedom visa $10k ... Macy's $1.5k ... Macy's Amex $5k ... Sam's Club $6.3k
myFICOs as of 3/25/14:...EX=809 .... EQ=802....TU=787
Senior Contributor
jsucool76
Posts: 3,266
Registered: ‎12-11-2011
0

Re: I must resist! Tempted to try for Capital One Rewards....

Which card were you hoping for anyways? The venture card, or the cash rewards card? 

Regular Contributor
PleioneG
Posts: 114
Registered: ‎08-29-2012
0

Re: I must resist! Tempted to try for Capital One Rewards....

Cash Rewards!


Wallet: Capital One Platinum - $2000, Amazon - $3000, Walmart - $3000, Discover It - $1000, Chase Freedom - $3000
Current Score: TU98: 678 - 2/2012, Walmart TU - 672 2/2013, Equifax 713 - 1/2013
Goal Score: 700 for all three.
GC Challenge: App free since 1/2013. No more apps! 2015 for mortgage!
Regular Contributor
GlocksAndCredit
Posts: 165
Registered: ‎08-26-2012
0

Re: I must resist! Tempted to try for Capital One Rewards....

I app'd with 0.4 AAoA, no baddies, and got it. I believe it's very easy to get. Not sure about the VISA though. I got the $39 AF CrapOne Cash Rewards.

CSP $5000, Chase Freedom Sig Visa $5000, United MileagePlus Sig Visa $5000, Capital One VentureOne Sig Visa $5000, Citi ThankYou Preferred Sig Visa $5000, Capital One Quick Silver MasterCard $4000, Amazon Store Card $3700, Citi Simplicity Visa $3000, Sallie Mae Mastercard $2000, Fidelity AMEX $2000, BCE AMEX $2000, Amazon Reward Visa $1800, Barclays Apple Visa $1700, Discover IT $1500, Suncoast FCU $1000, Target REDCard $300

Current Scores: EQ 701 (Fico), EX 707 (Fico) **In the Garden unti....forever.
Senior Contributor
jsucool76
Posts: 3,266
Registered: ‎12-11-2011
0

Re: I must resist! Tempted to try for Capital One Rewards....


collinsridge wrote:

I app'd with 0.4 AAoA, no baddies, and got it. I believe it's very easy to get. Not sure about the VISA though. I got the $39 AF CrapOne Cash Rewards.


It is one of their "average" cards so it is really easy to get. 

Established Contributor
jordanmedical
Posts: 1,011
Registered: ‎04-08-2012
0

Re: I must resist! Tempted to try for Capital One Rewards....

My dad is retired Army and I was able to get into NFCU.

The main stipulation is retired and not discharged or a veteran.

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

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