Quicksilver One Approval -- A Big Thank You!

[Anonymous]

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@Anonymous wrote:

Got approved for Cap1 Quicksilver One last night with a $500 CL.  Back in Feb 2016 I began reading myfico forums and have read about everyones experiences.  Which truely help me get pointed in the right direction in rebuilding credit.  In the beginning I had a negative auto loan,  6 collections and 5 judgements with scores around 540's When approved I had 0 negatives, 1 collection and 3 judgements left with scores around 590's.

Very lucky to see 1 hard pull on TU and EQ  as I did also apply for Platinum also but was denied.  But I do have a secured Platinum already so no big deal for now.

I would like to give a BIG THANK YOU to everyone who posted information or experiences that they are having building their credit on these myFico Forums.  

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The Platinum app was an auto-denial for too many existing Cap One accounts. Time to close down the secured card and re-apply for the Platinum card. Two unsecured Cap One cards will grow MUCH faster than one secured and one unsecured. Just look at my sig - $800 total to $9800 total in just a little over one year.

[Anonymous]

I'm a tad confused, isn't the Platinum the secured?  I have the Platinum, paid $49 deposit for a $200 CL (Could have gone higher but didn't see the point). 

I also just got the QS1 in the mail-also $500 limit...

So, platinum and secured are different things?

[Anonymous]

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@Anonymous wrote:

I'm a tad confused, isn't the Platinum the secured?  I have the Platinum, paid $49 deposit for a $200 CL (Could have gone higher but didn't see the point). 

I also just got the QS1 in the mail-also $500 limit...

So, platinum and secured are different things?

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They have a "regular" unsecured Platinum card.

[Anonymous]

So the one I have that paid $49 for a $200 limit is the secured platinum I would assume, correct?

It's weird because in the 'statement' page of C1- it shows the image of both cards but lists them both as Platinum Mastercard.

[Anonymous]

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@Anonymous wrote:

So the one I have that paid $49 for a $200 limit is the secured platinum I would assume, correct?

It's weird because in the 'statement' page of C1- it shows the image of both cards but lists them both as Platinum Mastercard.

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Yeah, they will look the same in the management page of the Cap One website - though you can rename them yourself (I've not tried it yet). Mine are both upgraded to QS, but still say Platinum on both, but show pictures of the QS card. 

[Anonymous]

Thanks Norman...

My denial letter said only reason was that I had a pending or recently processed application. Since I applied for both within like 20 minutes.

Chatted today and told me to wait 30 days to apply again.  Don't mind the wait but really..?

[Anonymous]

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@Anonymous wrote:

Thanks Norman...

My denial letter said only reason was that I had a pending or recently processed application. Since I applied for both within like 20 minutes.

Chatted today and told me to wait 30 days to apply again.  Don't mind the wait but really..?

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Yeah, I've heard that one a lot lately too. You can try again anytime, if there is no hard pull then its an auto-denial for either the pending/recent app, or its the existing accounts. Either way, its "no harm no foul", and you'll know whether you need to close the secured card or not if the second reason is what comes up. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

So the one I have that paid $49 for a $200 limit is the secured platinum I would assume, correct?

It's weird because in the 'statement' page of C1- it shows the image of both cards but lists them both as Platinum Mastercard.

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Yeah, they will look the same in the management page of the Cap One website - though you can rename them yourself (I've not tried it yet). Mine are both upgraded to QS, but still say Platinum on both, but show pictures of the QS card. 

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Exact same thing on my QS that was PCd

[Anonymous]

Hey, you helped me out in the other thread I started.  How did you get your limit increased so quickly with cap 0ne cards?  I now have the Platinum and QS1 with $2000 limit each, and really want to maximize CLIs in time.  Did you contact them with CLI requests at any point or simply used them regularly and kept them at low util.?

[Anonymous]

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@Anonymous wrote:

Hey, you helped me out in the other thread I started.  How did you get your limit increased so quickly with cap 0ne cards?  I now have the Platinum and QS1 with $2000 limit each, and really want to maximize CLIs in time.  Did you contact them with CLI requests at any point or simply used them regularly and kept them at low util.?

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OK, here's the way it went with my cards:

Opened an Orchard Bank (($300 limit) card in 2011. It later turned into a Cap One Platinum card with $59 annual fee. Opened second $500 limit Cap One Platinum (no fee) in 2012. I was clueless back then and maxed them out, making minumum payments until late 2014 when I began reading here. December 2014 I paid off both cards and began using them for all of my spending,paying them off before close date to keep low UTI, while requesting CLI's (luv button). Kept getting turned down for low scores. In March 2015 I finally got CLI's to $800/$1500. Kept using them heavily and in Sept 2015 I got CLI's to $2300/$3500. At that point I combined them into one $5800 card and applied for another $500 Platinum card. December 2015 the new card was increased to $1500. March I again requested a CLI on the larger crd and got increased to $7800, and the second card got credit steps increase to $2000. From the time I first paid them off to the last CLI's is just over 15 months. From $800 to $9800 in a little over 15 months. In that same time my scores went from ~500 to low/mid 600's. All CLI's were requested online in the Cap One account management page. No "people" involved.

One thing that has probably been a big boon is that I have no charged off credit cards in my credit history. Lots of other bad stuff though....