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Thinking of a 2nd QS1 card. Need some help.

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Anonymous
Not applicable

Re: Thinking of a 2nd QS1 card. Need some help.

I did link it to my checking account. But I didnt know about the overpaying thats a great tip. As far as the debit card goes my qs1 cuts on 10-02 to 10-05 so thats the only time i use the debit card and i run everything else through the qs1 card. Do you think I'm on the right track?

Message 11 of 14
UncleB
Credit Mentor

Re: Thinking of a 2nd QS1 card. Need some help.


@Anonymous wrote:

I did link it to my checking account. But I didnt know about the overpaying thats a great tip. As far as the debit card goes my qs1 cuts on 10-02 to 10-05 so thats the only time i use the debit card and i run everything else through the qs1 card. Do you think I'm on the right track?


Personally, I think you're definitely on the right track.  My QS1 started out as an HSBC/Orchard Bank MasterCard with a CL of $200.  My first CLI was $20 (yep, not a typo).  That same card now has a credit line of $2920.  It's taken a few years, and the majority of that was only granted the last year and a half or so, but I can attest that they will grow with time. 

 

As a data point, mine really started taking off when I started using it like a mad-man, making multiple payments a month.  I also started making payments through my bank's bill pay (letting the bank 'push' the payment) rather than using the card's bill pay because that seems to lower the chance of a payment hold (to be fair, I had this problem when the card was still HSBC, but never once it converted to Capital One... so that might have been a HSBC 'thing'). 

 

Like jfriend33 suggested, using your bank's bill pay you can also pay more than is due if you know you have a large purchase coming up, which is another way around a less-than-substantial credit line.

 

Hang in there!

Message 12 of 14
Anonymous
Not applicable

Re: Thinking of a 2nd QS1 card. Need some help.


@UncleB wrote:

@Anonymous wrote:

I did link it to my checking account. But I didnt know about the overpaying thats a great tip. As far as the debit card goes my qs1 cuts on 10-02 to 10-05 so thats the only time i use the debit card and i run everything else through the qs1 card. Do you think I'm on the right track?


Personally, I think you're definitely on the right track.  My QS1 started out as an HSBC/Orchard Bank MasterCard with a CL of $200.  My first CLI was $20 (yep, not a typo).  That same card now has a credit line of $2920.  It's taken a few years, and the majority of that was only granted the last year and a half or so, but I can attest that they will grow with time. 

 

As a data point, mine really started taking off when I started using it like a mad-man, making multiple payments a month.  I also started making payments through my bank's bill pay (letting the bank 'push' the payment) rather than using the card's bill pay because that seems to lower the chance of a payment hold (to be fair, I had this problem when the card was still HSBC, but never once it converted to Capital One... so that might have been a HSBC 'thing'). 

 

Like jfriend33 suggested, using your bank's bill pay you can also pay more than is due if you know you have a large purchase coming up, which is another way around a less-than-substantial credit line.

 

Hang in there!


I think I learned this overpay tip from you UncleB!  Either for my QS or my Citi DC.  

 

Most important thing to remember is.... carrying a balance on these unless they are in a 0% promo completely defeats any rewards.

Message 13 of 14
Anonymous
Not applicable

Re: Thinking of a 2nd QS1 card. Need some help.

I don't think it's a good idea to open a second same card in your situation. If you've got the cash, the simplest solution is to ACH pull from your bank billpay, and make sure you always have a credit balance.

By creating a credit balance, you effectively increase your CL.
Message 14 of 14
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