topic Re: Finally Approved for SOMETHING! in Credit Card Approvals

Finally Approved for SOMETHING!

LouisvilleStunner — Tue, 30 Dec 2014 18:16:33 GMT

I hadn't applied for new credit in years, cause I knew I would be denied. I got my student loans current this year, and I received offers for two Capital One cards - The Platinum MasterCard and the QuickSilver Rewards Visa. I applied to them a week apart and got approved for a $300 limit on both. Going to use them for my recurring payments that I was alreayd paying for, such as my gym membership, Netflix and small miscellaneous purchases. I'm worried about the credit utilization ratio, but I can afford to pay them in full easily, as I just got a raise at my job. Here's to using credit responsibly in 2015! Any tips will help!

Re: Finally Approved for SOMETHING!

Anonymous — Tue, 30 Dec 2014 18:23:06 GMT

Congrats on starting back with the credit world!

Here are some tips from me:

You have two credit cards, both with $300 limits. That's equivalent to $600 in available credit you have. Here's the best way to maximizing FICO scoring in your situation: Have only one card report a balance. What I mean by that is that you can charge whatever you like on both the cards, just make sure before the statement cuts that you have one fully paid off and the other leaving a balance of around $30--which puts you at a 5% utilization.

Soon whenever your statement reports, just go ahead and pay it all off. Repeat, repeat, repeat!

Re: Finally Approved for SOMETHING!

Anonymous — Tue, 30 Dec 2014 18:24:23 GMT

Congratulations for your Cap1 approvals! Continue Success in The World of Credit Cards!

Re: Finally Approved for SOMETHING!

Anomalous — Tue, 30 Dec 2014 18:36:55 GMT

Congratulations!

Re: Finally Approved for SOMETHING!

uswala — Tue, 30 Dec 2014 18:37:15 GMT

Congrats!

Re: Finally Approved for SOMETHING!

robbulous — Tue, 30 Dec 2014 18:43:05 GMT

Congrats on your approvals. You're where I was about 6 years ago. Just keep things under control and you'll be fine!

Re: Finally Approved for SOMETHING!

LouisvilleStunner — Tue, 30 Dec 2014 18:47:02 GMT

Thanks everyone! I'm listening and applying all advice given to me!

Re: Finally Approved for SOMETHING!

Anonymous — Tue, 30 Dec 2014 19:21:55 GMT

Congrats!

Re: Finally Approved for SOMETHING!

gdale6 — Tue, 30 Dec 2014 19:31:42 GMT

@LouisvilleStunner wrote:
I hadn't applied for new credit in years, cause I knew I would be denied. I got my student loans current this year, and I received offers for two Capital One cards - The Platinum MasterCard and the QuickSilver Rewards Visa. I applied to them a week apart and got approved for a $300 limit on both. Going to use them for my recurring payments that I was alreayd paying for, such as my gym membership, Netflix and small miscellaneous purchases. I'm worried about the credit utilization ratio, but I can afford to pay them in full easily, as I just got a raise at my job. Here's to using credit responsibly in 2015! Any tips will help!

Grats to your continued success

Re: Finally Approved for SOMETHING!

Anonymous — Tue, 30 Dec 2014 19:32:55 GMT

Congrats on your approvals.

Re: Finally Approved for SOMETHING!

coldnmn — Tue, 30 Dec 2014 19:54:26 GMT

Congrats! Thanks for sharing.

Re: Finally Approved for SOMETHING!

Anonymous — Tue, 30 Dec 2014 22:34:40 GMT

Congratulations!

Re: Finally Approved for SOMETHING!

Anonymous — Tue, 30 Dec 2014 23:04:50 GMT

Very nice, congrats on your approval

Re: Finally Approved for SOMETHING!

PowerInNumbers4 — Wed, 31 Dec 2014 04:16:19 GMT

Congrats on the approval!! your on the way! the best way to stay out of trouble is paying your bill as soon as the new statement cuts, don't ever wait until the last minute.

Good luck.

Re: Finally Approved for SOMETHING!

sparklerd34 — Wed, 31 Dec 2014 05:24:43 GMT

Congrats I'm right there too!! Recently approved dec. 1 st

Re: Finally Approved for SOMETHING!

Anonymous — Wed, 31 Dec 2014 05:55:00 GMT

Congrats.

Re: Finally Approved for SOMETHING!

RCFL — Wed, 31 Dec 2014 09:47:38 GMT

Keep using it and use it responsibly - you'll either get bump to 3k or 5k when your 6th statements cut. Congrats in your approval !

Re: Finally Approved for SOMETHING!

FocusedAndDetermined — Wed, 31 Dec 2014 11:15:03 GMT

Congrats!

You are on your way.

Re: Finally Approved for SOMETHING!

FocusedAndDetermined — Wed, 31 Dec 2014 11:15:30 GMT

@Anonymous wrote:
Congrats on starting back with the credit world!

Here are some tips from me:

You have two credit cards, both with $300 limits. That's equivalent to $600 in available credit you have. Here's the best way to maximizing FICO scoring in your situation: Have only one card report a balance. What I mean by that is that you can charge whatever you like on both the cards, just make sure before the statement cuts that you have one fully paid off and the other leaving a balance of around $30--which puts you at a 5% utilization.

Soon whenever your statement reports, just go ahead and pay it all off. Repeat, repeat, repeat!

Great advice!

Re: Finally Approved for SOMETHING!

LouisvilleStunner — Wed, 31 Dec 2014 17:05:57 GMT

Thanks for the advice! I'm waiting for the first statements to hit so I'll have an idea of when to expect them, so I can set up automatic bill pay so they are never late.