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Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |
rubicon wrote:I'm confused. I only have two credit cards on my credit profile: a capital one secured and as of today a NFCU secured card. When my capital one card showed up on my profile I received a 50 point boost (29% util on a $300 limit). My NFCU reported today with a 10% util ($50/$500) and I received a 1 point drop! Is this out of the ordinary? I thought that the addition of these two cards with under 30% util, both paid on time would only have a positive impact.
Do you happen to remember how many days it took from the time you were "approved" for each cc, before it "reported" on your credit reports?
I am intrigued to learn how long it take to "get credit" for having a new card reporting.
Thanks in advance!
@AutoBot wrote:I would apply for both cards back to back when your ready to save a HP. My FICO8 scores were in the 570-590 range when I applied and was approved for $1K each. If you have past deragoties with CAP1 that are less than 12 months old, that would be a reason for denial. Otherwise, your odds may be pretty good.
Capital One doesn't allow this anymore. I've read several post on the CC section where new applicants are now being denied for a second card. One poster quoted the message saying "Capital one doesn't allow card holder to open more than one account within 6 months time period, your credit wasn't pulled for this application" When applying for a second card the same day. They applied for the QS1, approved. Applied for Platinum after and received the message.
Yes, they did allow this to happen in the past but not any longer. 6 months minimum between opening new accounts/cards.
OP is barely carrying any balance, I doubt 0% APR for 9 months is really worth it. At this point he would have three cards, so a Platinum PIF for two months coverting to a QS with a much higher credit limit will have a much more positive effect on his file in regards to overall credit limit and utilization than a QS1 would.
Good luck to you!