Is it smart to apply for both Capital One Platinum and Quicksilver one cards at the same time?

[radguy]

Hi, it's been 14 months since I was discharged from Ch. 7, I applied last week for a Cap One card and was approved for a Platinum card with a $3000 limit. I just went on their pre-qualify, soft pull site and it shows that I am also pre-qualified for their Quicksilver One card. Should I do it this, will it help my re-building plan? Or will it hurt. Maybe I should wait? Thanks for any advice.

[myjourney]

More info needed 

Baddies?

Other cards?

UTL?

AAoA?

INQ's last 12 months 

[radguy]

Hey, thanks for getting back. I just got approved for my first CC after BK. I'm rebuilding, it's a Cap One Platinum $3000 limit. I have no other cards or credit lines. I'm basically wondering if I increase my credit line now by getting another card, if i get it, I'm pre-approved, might not get it, who knows. Or if I should just sit on the one card and be good on it for the next six months and then apply again for another.

[myjourney]

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@radguy wrote:

Hey, thanks for getting back. I just got approved for my first CC after BK. I'm rebuilding, it's a Cap One Platinum $3000 limit. I have no other cards or credit lines. I'm basically wondering if I increase my credit line now by getting another card, if i get it, I'm pre-approved, might not get it, who knows. Or if I should just sit on the one card and be good on it for the next six months and then apply again for another.

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IMHO

No more CAP1's at 3 HP's per card 

That's a waste to me 2 cards costing 6 HP's 

I recommend a secured card 

No HP required 

Reports to all 3 CB's 

Easy approval 

Great APR

https://www.sdfcu.org/emv-creditcards

Use both cards for 6 months of good history and then proceed to next step

[radguy]

Thanks, sounds like a good plan. Does this card graduate to unsecured?

[myjourney]

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@radguy wrote:

Thanks, sounds like a good plan. Does this card graduate to unsecured?

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Sorry to say that's the only downside to the card ....does not graduate 

But in 6 months depending on scores several lenders are BK friendly and you'll have some payment history to show

Example Barclays Walmart etc etc 

[MissMoni223]

You can just PC your platinum to the regular Quicksilver card and also request a CLI and an APR reduction. Hope this helps.

[Broke_Triathlete]

I was in the same exact position as you. I got the platinum for $3K and the applied a week later for the QS1 and got that, also for $3K. Two months later with more than $4,500 ran through them I was allowed to PC to QS and Venture one with no AF's. I just got the cards yesterday. So I'd say go ahead.

[sreneesa]

I was pre-qualified for platinum and qs1 and they did three hard pulls. Then again I applied for one then a few minutes later applied for the other.

[godscountry]

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@radguy wrote:

Hi, it's been 14 months since I was discharged from Ch. 7, I applied last week for a Cap One card and was approved for a Platinum card with a $3000 limit. I just went on their pre-qualify, soft pull site and it shows that I am also pre-qualified for their Quicksilver One card. Should I do it this, will it help my re-building plan? Or will it hurt. Maybe I should wait? Thanks for any advice.

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I wouldnt.  I would wait til the Plat is 6 months and then app for QS, request CLI on Plat, then PC it to another QS.  Even if you get a QS now, I dont think it will help you much as far as what CapOne is gonna give you in the future.  I just apped for 3...only reason because I thought I would get the Spark but they denied me....and then turned around and approved me for QS.

DW apped for QS and was approved right after her 7th statement on her Plat.  They wouldnt give her another CLI since she just got one but they did PC her to QS.  So she has QS Visa and QS MC.  Both no AF.