Yes or No new Capital One account

[TwoBeFree]

I have a secured Capital One account started out with a $200 limit I have increased it to $1500 and it will be a year old in Feb 2015. Should I apply for an unsecured card now or wait unit it is a year old account? Should I pay the card off in before applying for an another Capital card?

[Shokk]

Unlesss you've been on an app spree lately, an inquiry or 2 isn't going to hurt you.  Most credit card sites have a pre approval page you can check to see if there are any offers for you, (You can't have opted out to use this) and its only a soft pull.

Might check Cap 1 first since you have a card with them.  Stay away from the prime card sites like Discover.  Their "offers" aren't pre approvals.

[Anonymous]

I wouldn't.

[Anonymous]

Much more information regarding your situation is needed before anyone can give you sound advice. What are you scores, what is the balance on the card you currently have, do you have anything else on your credit report? Once we know this, we can help you out. 

[Anonymous]

I'd check chase pre approval site . You should be good for a freedom or a discover . Stay away from capital one since any app with them would cost you 3 pulls .

[Anonymous]

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@Anonymous wrote:
I wouldn't.

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+1

[Anonymous]

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@TwoBeFree wrote:

I have a secured Capital One account started out with a $200 limit I have increased it to $1500 and it will be a year old in Feb 2015. Should I apply for an unsecured card now or wait unit it is a year old account? Should I pay the card off in before applying for an another Capital card?

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I would wait until the card is a year old. You may also be able to get the card converted to an unsecured card at that time. 

With regards to paying the card off, you want something to show when the statement cuts (and gets sent to you), which you then pay in full. I would avoid paying off the card before the statement cuts so that CapOne can see that you're using the card. 

[Anonymous]

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@Anonymous wrote:

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@TwoBeFree wrote:

I have a secured Capital One account started out with a $200 limit I have increased it to $1500 and it will be a year old in Feb 2015. Should I apply for an unsecured card now or wait unit it is a year old account? Should I pay the card off in before applying for an another Capital card?

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I would wait until the card is a year old. You may also be able to get the card converted to an unsecured card at that time. 

With regards to paying the card off, you want something to show when the statement cuts (and gets sent to you), which you then pay in full. I would avoid paying off the card before the statement cuts so that CapOne can see that you're using the card. 

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Discover cards will be on the AMEX network before this happens.

[Anonymous]

Capital one secured cards do not unsecure. Of you want an unsecured card go to their website and do the prequalify link. If a card comes up, apply for it and then close the secured card once you receive it.

[mrsjr]

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@Anonymous wrote:
Capital one secured cards do not unsecure. Of you want an unsecured card go to their website and do the prequalify link. If a card comes up, apply for it and then close the secured card once you receive it.

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I agree.  Check the pre-approval link first.  If it says you're pre-qualified, I would apply.  Their pre-qualifications seems very reliable.