Spouse received first mail offer from capital one. Should she take it?

[cottoncrown]

I added my wife on the my credit cards as an AU about five months ago as she had no previous credit. One discover card and one capital one card. She hasn't heard anything until today an offer came in from cap one for a platinum car with no annual fee and "access to a higher credit limit at five months". Should she take the offer or wait for a better one to roll in? What are the chances of her getting the cap one newcomers card or a discover it if she is starting to get offers?

[chnceit]

Cap One is much easier than Discover for sure. I say accept it to start building her own credit. Good luck!

[cottoncrown]

Thanks what I'm thinking, it's better than having to go the secured route! Maybe I could send her a link for the discover $50 sign up bonus and if she doesn't get approved go for the cap one offer. She doesn't have any inquiries except for our apartment building so it should be fine, right? Any downfalls to doing it that way?

[sghosh5]

Whats her score range? DISCOVER will be tough to get but sometimes if you apply and get denied they may ask to add an co-owner on the new account. Thats what they asked me when I applied online for DISCOVER-IT card. They will run co-signer's credit too and decide on that. I didn't do it as I am already an AU on my wife's DISCOVER card.

Capital One Platinum is a boring card with no rewards. If your wife's credit is Fair try apply for Capital One Quicksilver MasterCard. It will be easy to get too and she will be earning 1.5% cashback on everything. Just a thought

[youngandcreditwrthy]

Please don't get Cap One. Get them if you can't get an IT. IT approvald seem to be rolling in lately. I'd try for an IT first.

[sweettea]

I haven't been with CapOne long enough to say if they are bad or not, but I have the Platinum Card for Newcomers card and it does indeed offer rewards. 2% on travel related purchases, 1% on everything else. No AF. No FTF. It has a high interest rate (24.9%), so it should be a card that you will use to PIF each month.

The CapOne Quicksilver One is 1.5% on all purchases. Has a slightly lower interest rate of 19.4%, but the promotion now is 0% APR until 2014. So you have some time if you will carry a balance on it. $39 AF.

I don't have any experience with the IT card and I am not sure how easy it is to get.

[youngandcreditwrthy]

I think IT needs 640-650+ FICO.
Cap One is great to build cred, just don't expect to get regular clis from them. They will
Not grow with you.

[sweettea]

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@youngandcreditwrthy wrote:
I think IT needs 640-650+ FICO.
Cap One is great to build cred, just don't expect to get regular clis from them. They will
Not grow with you.

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Not to hijack, but is the IT card also BK friendly, like say, 4 1/2 years since discharge? Scores are above the minimum and been good otherwise.

[09Lexie]

@sweettea

If you have re-established your credit since the discharge and there are no other baddies, your odds are 70-80%

[cottoncrown]

Well she just applied online and got approved for $500! This will be good as she is new to credit and I think it will be a good starter card. In a couple months after she gets used to using it I will send her the offer for the discover it card and I'm sure she will be approved.