Awesome Capital one rebuilder program!

[Anonymous]

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@OMW2_HighAcheiver wrote:
FYI

I applied for QS1 AFTER I applied and approved for this card. I was approved for QS1. Well, I went online to activate QS1 & this card the thread is about showed restricted. They closed it because you can't have any other cards with them if you have the card. I only have QS1 now. Oh well. Bye bye $100 CL rebuilder.

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No big deal. If you qualified for the QS1 then you really did not need this rebuilder card. Thats why I always suggest apping for their unsecured cards first.

[bubbles0605]

Instant approval for me, instant denial for DH!!!

[Anonymous]

*stares* Well the option to add money to my "secured" card is now gone.. 

What do I have now? The same secured card? Am I forever stuck with this $500 limit now???  

[Anonymous]

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@Anonymous wrote:

*stares* Well the option to add money to my "secured" card is now gone.. 

What do I have now? The same secured card? Am I forever stuck with this $500 limit now???  

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I hope that maybe one day Cap One will start graduating the secured cards.

Don't hold your breath for it, but that's my hope.  Maybe after they see how the Builder Program works out for people they may consider it some day.

What'll probably happen is I'll cancel mine and get my check in the mail and THEN find out they graduate them now, ROFL.  That's my luck.  (And no, I'm not quite ready to close mine yet even though I do have an unsecured Cap One QS1 now - I'm going to wait just a little while longer, maybe after my QS1 hits credit steps.)

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

*stares* Well the option to add money to my "secured" card is now gone.. 

What do I have now? The same secured card? Am I forever stuck with this $500 limit now???  

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I hope that maybe one day Cap One will start graduating the secured cards.

Don't hold your breath for it, but that's my hope.  Maybe after they see how the Builder Program works out for people they may consider it some day.

What'll probably happen is I'll cancel mine and get my check in the mail and THEN find out they graduate them now, ROFL.  That's my luck.  (And no, I'm not quite ready to close mine yet even though I do have an unsecured Cap One QS1 now - I'm going to wait just a little while longer, maybe after my QS1 hits credit steps.)

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If you don't mind me asking, what your FICO score is/was when you got approved for Discover IT card? Was looking to add possibly 1 more card to my "Portfolio" 

[Anonymous]

Something to consider.. about a month or two ago I applied for the capital one regular secured card.  I was denied because experian had a lot of incorrect information.. I emailed the EO with a letter and explaining past hardships and asked for a reconsideration.  A lady from the office called.  She w as in the midst of putting in a requested for manual review but then saw that it was the secured i'd applied for.  She stated that recons by policy only happen for unsecured lines of credit.  She basically said if I had applied for the unsecured, and could proove the inaccuracies I woulda had a chance. Its apparent that perhaps then I would have even been offered a secured line. The other day after reading here and after working on deleting inaccuracies ect I went online to the prequal site  to see if any preapprovals came up.  First one I saw was platinum then i saw the "you may also be interested in qs1" I app'd for the plat and honestly expected denial.  Got approved for a small 300 line (i;m still in the mid-high 5s) but surely did a happy dance.. because its somewhere.  Then i came on this board again and noticed that ppl seemed to be getting the qs1 in the same day.  I went back to reopen the prequal and noticed that it meant i was ALSO preapproved for it so i apped it still expecting the worse.. but yet approved same line of credit. was surprized for sure. It counted as 1 inquiry on my report i guess because it was minutes apart so a 2-4-1 was great.  Especially since I already have the inq from dec cap 1 secured. So imho from my understand you are better or doing the prequal or maybe attempted the better call and then begging for a recon.. Because at least then you'll still have a chance without the extra pull since they wont recon the secured.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

*stares* Well the option to add money to my "secured" card is now gone.. 

What do I have now? The same secured card? Am I forever stuck with this $500 limit now???  

---

I hope that maybe one day Cap One will start graduating the secured cards.

Don't hold your breath for it, but that's my hope.  Maybe after they see how the Builder Program works out for people they may consider it some day.

What'll probably happen is I'll cancel mine and get my check in the mail and THEN find out they graduate them now, ROFL.  That's my luck.  (And no, I'm not quite ready to close mine yet even though I do have an unsecured Cap One QS1 now - I'm going to wait just a little while longer, maybe after my QS1 hits credit steps.)

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If you don't mind me asking, what your FICO score is/was when you got approved for Discover IT card? Was looking to add possibly 1 more card to my "Portfolio" 

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My Discover It is secured.  I got it the "old way" as a counter offer, NOT through the new Secured Card offering on their site.  I don't know if they still counter a regular app with a secured card, so I don't know if a card like mine is actually available anymore (the current Discover Secured card has the same rewards structure as the It Chrome card, not the 5% rotating, 1% everyday It).  I've had mine for 14 months, it's still secured but my scores are still under what I figure Discover would want them to be so I'm waiting it out.  One day I'll get my check in the mail and it'll be glorious.

I am a student (even though I'm in my 30s, it still counts) and I know Discover's underwriting is a little lighter when you apply as one.  

My scores were a lot worse than yours are when I app'd and got mine.  No BK, but I have some baddies that haven't gone away yet.  BUT people with scores 200+ points higher than mine get denied for the same card.  It's a crap shoot with Discover so you have to be willing to take the HP and risk it if you go for it because it's a coin toss.  

Frankly it's an amazing card and I love the crap out of it but it's really hard to say whether or not someone should go for it.  Discover is very, very funny with their approvals.

Edited to add: Discover only pulled TU for me but other people report that they pull other scores so there's really nothing I can say to that either.  That's locational.

[Anonymous]

just curious.. did they request proof if your a full or part time student?  My sister can prob get this since her score have risen.. then again might not work dunno if shes considered full time

[Anonymous]

Good Lord, I even got denied for this card. lol

[Anonymous]

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@Anonymous wrote:

just curious.. did they request proof if your a full or part time student?  My sister can prob get this since her score have risen.. then again might not work dunno if shes considered full time

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They didn't ask me but that doesn't mean they won't ask.