topic Re: Capital One Platinum in Credit Card Approvals

Capital One Platinum

Anonymous — Sat, 19 Aug 2017 21:57:53 GMT

My credit has been only a lonely Capital One secured card (900), a BestBuy store card (750, the crappy citi one) and a single retail OneMain loan for the past 2 years. In June I went on an insane app spree and picked up an indigo MC (300), CreditOne Visa (400, CLIed to 600) and Amex BCP (1000).

I just realized that my secured card from Capital One is a total dead end. No CLIs, no unsecuring. They will not ever let this card grow. So in probably the most depressing approval ever I got a Capital One platinum card approval for $300 earlier this week to replace my $900 secured card for the low low price of a triple HP.

Off to the garden to let these TLs age. The good news is that my last account with a late payment will age off in October. That should be fun

Re: Capital One Platinum

Anonymous — Sun, 20 Aug 2017 01:20:57 GMT

Congrats on your unsecured Cap1 and Amex!

The Cap1 secured does seem to be more difficult to unsecure, although there are some successes, I understand you apping for the unsecured card.

I am curious however, why would you app for indigo and credit one when you were able to get your Amex? Just wondering....you could have possibly gotten better cards than those at that point.

Re: Capital One Platinum

Anonymous — Sun, 20 Aug 2017 03:40:03 GMT

I was on a spree. The AMEX was a total longshot. My plan on this spree was to spread out and pick up two or three cards. I knew I would take a hit in the short term, but after a few years when my AAoA started creeping up the extra TLs would help out. The Best Buy store card is 11 years old and came before I destroyed my credit in 2011, so the only recent card I had been approved for was a secured. I was just dipping my toes into the first crappy unsecured cards and thought that since I was spamming apps I may as well try AMEX since my employer had sponsored me for a charge card already. I figured they might just be willing to take a risk on me with a personal since I already had an AMEX in my wallet. I am not quite sure how I got the AMEX, but I did

Re: Capital One Platinum

Anonymous — Sun, 20 Aug 2017 04:08:13 GMT

Got it! I wanna make a prediction, you will not keep those cards long. And you shouldn't keep those cards for long, especially for years. You have already outgrew them.

Next app spree, pre-qualify for the cards you really want first and work your way down. Good luck on your journey!

Re: Capital One Platinum

Anonymous — Sun, 20 Aug 2017 04:26:11 GMT

I am debating wether I should close the cap 1 secured yet. That $900 cap is like a quarter of my credit limit. I definitely know I will not be using it any more. I need to show the activity on my AMEX since the 61 day mark is coming up in a week and I need to start running up the platinum and paying it off so I can get some luv before the credit steps kick in.

Re: Capital One Platinum

Total80sKid — Sun, 20 Aug 2017 05:05:02 GMT

Yes, I'm no fan of Cap1.

But like all CCC's, there are people who love them and hate them.

Without sounding like a broken record, I had a secured Cap1 from 2014 that I just closed as they wouldn't up the limit or unsecure it.

I have multiple cards over $5k now and I'm not paying $40 for a card unwilling to grow with me.

I have a QS1 that I got a month after the secured and like the secured, it, too, sits without growth (stuck at $850) and they won't upgrade to the no fee.

My AF renewal is in Dec. if they haven't allowed me to upgrade my QS1 by then, it's goodbye Cap1 forever!

Re: Capital One Platinum

Anonymous — Sun, 20 Aug 2017 09:03:53 GMT

ohh, now i know why i heard something about growing a garden. cc lingo.

what's TL mean?

@Anonymous wrote:
...

Off to the garden to let these TLs age. ...

Re: Capital One Platinum

Anonymous — Sun, 20 Aug 2017 09:46:18 GMT

TL is a trade line, or any entry in your credit history. I highly recommend reading the common abbreviations guide on this site. Many posts are unreadable without it!

Re: Capital One Platinum

AverageJoesCredit — Sun, 20 Aug 2017 15:20:15 GMT

Congrats

Re: Capital One Platinum

CrankyDave — Tue, 22 Aug 2017 21:06:37 GMT

@Anonymous wrote:
My credit has been only a lonely Capital One secured card (900), a BestBuy store card (750, the crappy citi one) and a single retail OneMain loan for the past 2 years. In June I went on an insane app spree and picked up an indigo MC (300), CreditOne Visa (400, CLIed to 600) and Amex BCP (1000).

I just realized that my secured card from Capital One is a total dead end. No CLIs, no unsecuring. They will not ever let this card grow. So in probably the most depressing approval ever I got a Capital One platinum card approval for $300 earlier this week to replace my $900 secured card for the low low price of a triple HP.

Off to the garden to let these TLs age. The good news is that my last account with a late payment will age off in October. That should be fun

I'm in a similar boat, but with a BarclayCard. Sort of. It started life as a Juniper sub-prime card and went through various companies before Barclay bought it. Its CL will never go any higher, and its APR will never go any lower - said flat-out by an account analyst there. Apparently, the credit limit and APR ranges from way back when are set in stone. I can't even do a product change to a "real" Barclay product because they don't consider my card of their own. I'd love to close it, but it comprises nearly half of my overall credit.

On the other hand, I've had really good experiences with Capital One. My sub-prime Household Bank card (I think it was a $300 CL) got bought by them and turned into a Platinum, which grew into a Quicksilver One, and then full, no annual fee Quicksilver. It took a while, but it eventually got there. I'm surprised that your secured card didn't graduate to an unsecured one. I thought that was automatic after X number of months.

Re: Capital One Platinum

Anonymous — Tue, 22 Aug 2017 22:00:08 GMT

Congrats on the approval! CapitalOne will likely give you a cli after 6 months of on time payment. Also, AmEx grows pretty quickly as long as you maintain your scores and PIF.