topic Re: Cap 1 Strategy in Credit Card Applications

Cap 1 Strategy

Anonymous — Mon, 01 Jun 2015 20:47:53 GMT

I was preapproved for the Quick Silver at the top of the page, next was the venture and lastly was the Platinum Prestige. When I apply I plan to apply for the quicksilver 1st as its my top offer and seems to be a little easier to get then the Venture. If approved I will apply for the venture next if denied should I apply for the Platinum Prestige next instead? I think it's a little easier to get.

Also plan to apply for a discover it the most basic one. Should I apply for that 1st? So they do not see the Cap 1 pulls?

Re: Cap 1 Strategy

Anonymous — Mon, 01 Jun 2015 20:51:13 GMT

Welcome to MYFICO... Before we get started, what are your scores and how does your credit profile look like? Disocver usually pulls EQ and I will do it first before doing the CAP 1 cards if I were in your shoes.

The reason being, CAP 1 pulls all 3 bureaus so Discover and then Quicksilver and Venture minutes apart so that they use the same pull. If declined for the Venture, hold of on the platinum. Do you really need it?

Re: Cap 1 Strategy

Anonymous — Mon, 01 Jun 2015 22:38:24 GMT

Official Fico Score 8's from this site... Eq 654, Tu 669 and Exp. 691. Thin file. Always paid in cash. Oldest Account 11 years. Student loan. Journey Card opened in January, Finger Hut opened in Feb. Montage Agent wants me to can Finger hut and get some "Real" credit ASAP. His words.

Re: Cap 1 Strategy

Anonymous — Mon, 01 Jun 2015 22:45:53 GMT

@Anonymous wrote:
Welcome to MYFICO... Before we get started, what are your scores and how does your credit profile look like? Disocver usually pulls EQ and I will do it first before doing the CAP 1 cards if I were in your shoes.

The reason being, CAP 1 pulls all 3 bureaus so Discover and then Quicksilver and Venture minutes apart so that they use the same pull. If declined for the Venture, hold of on the platinum. Do you really need it?

Yes, true. I'm stuck right now with the Platinum Prestige and QS. Have 2 Ventures. And want to get those other two into a QSWEMC. I won't try until Dec. But it's easier to wait and app for what you really want.

Re: Cap 1 Strategy

Anonymous — Mon, 01 Jun 2015 23:01:14 GMT

@Anonymous wrote:
Official Fico Score 8's from this site... Eq 654, Tu 669 and Exp. 691. Thin file. Always paid in cash. Oldest Account 11 years. Student loan. Journey Card opened in January, Finger Hut opened in Feb. Montage Agent wants me to can Finger hut and get some "Real" credit ASAP. His words.

Ok... Do this..

1) Discover

2) Chase Freedom to get the free $200 after $500 spend and it is a cash back card

3) Quicksilver and Venture minutes apart and then cool of on the app.

Forget the CAP 1 platinum. Report back with results if you do apply...

Re: Cap 1 Strategy

Anonymous — Mon, 01 Jun 2015 22:55:12 GMT

I like how you think! No one mentioned Freedom!

Re: Cap 1 Strategy

Anonymous — Mon, 01 Jun 2015 23:27:55 GMT

Great thanks, I will be applying this week. I work midnights but get a 3 day weekend this week. I'm waiting until I'm up early enough in the day to recon right away if needed. Unless I should wait to recon.

O and forgot no baddies on my report at all.

Re: Cap 1 Strategy

Anonymous — Mon, 01 Jun 2015 23:29:46 GMT

@Anonymous wrote:
Great thanks, I will be applying this week. I work midnights but get a 3 day weekend this week. I'm waiting until I'm up early enough in the day to recon right away if needed. Unless I should wait to recon.

O and forgot no baddies on my report at all.

This is what we are here for.. To plan to help you get approved. The recon hours are 8am-10pm. Keep that in mind also... Look forward to seeing results.

Re: Cap 1 Strategy

Anonymous — Wed, 17 Jun 2015 03:34:52 GMT

Figured I would post a little update.

I have not apped yet, I was waiting for this billing cycle to be over. It's over today and will post in the next few days. Once it posts I will be rolling the dice and apping. I wanted to wait to get a little more age with my current credit line and also I have been messing with what I let report to see where it takes my scores. In the last 5 months, I've let 25% report, 15%, 3%, 7% and this month 2%. Also I've been with capital once since so I',m waiting to see if I get out of credit steps this month or if I have to wait till next. Offical 6 month mark is July 16th.

I've checked pre app sites again tonight, I get the Quick Silver Rewards 17.9% APR next march, Venture Rewards 17.9% APR Now, Platinum Prestige 15.9 APR next Spet., Chase Freedom, Amex Green, Gold and Gold Rewards, Noting from Citi or BoA. Also got the Sportsman's Guide pop up. When I was shopping. Did'nt try Discover since everyone says the pre app is crap.

I'll report back late this week when I app. Can you tell I'm getting the itch to app.

Re: Cap 1 Strategy

GetMeSlick — Wed, 17 Jun 2015 18:42:08 GMT

Good luck OP.

Re: Cap 1 Strategy

Anonymous — Wed, 17 Jun 2015 21:58:27 GMT

Just an FYI. I apped for Capital One with an application minutes apart and they hit me with 2 hard pulls for each bureau. I believe it was because one was instantly approved and the other went into a review status. They ended up pulling reports on 2 separate days. Just giving you a heads up that you may get hit with more pulls than you expect.

Re: Cap 1 Strategy

Anonymous — Wed, 17 Jun 2015 22:42:52 GMT

That's the problem: no one can guarantee you won't end up with multiple HP's when you apply for multiple cards at the same time. While some will only see 1 HP, other's, like yourself and I, will see multiple. When I appd for two AMEX cards, they waited a week and pulled EX another time. While I wasn't happy, at least I was approved for both so the HP's were worth it to me.

Re: Cap 1 Strategy

Anonymous — Wed, 01 Jul 2015 02:33:27 GMT

Update 1. Discover asked me to fax them proof of my address and SS card or ID card. Will do this tonight from work, I do not have a fax machine at home. 2. Chase Freedom Approved for 2200 22.99 apr. Which sucks but I really just wanted to get in with them before I have to many pulls on my report. 3. Paid my current capital one in full today. Planning to app for the QS and venture as soon as discover get figured out in the next few days.

4. Got a letter from Sportsman guide today asking why I didn't take the pop up credit card ad and asked me to reconsider so I might jump on that. 5. Also go pre approavls for Amex Green, Gold and Gold Rewards cards but I think I'll pass and wait and hopefully one day I can get a regular amex. Although the 50k miles the comes with the rewards card dose look good as I travel a lot.

Re: Cap 1 Strategy

Anonymous — Wed, 01 Jul 2015 09:49:04 GMT

Every thing is covered in the update below.

Re: Cap 1 Strategy

Anonymous — Wed, 01 Jul 2015 06:00:18 GMT

I know where you're talking about. The Discover call center is in quite an upscale town/neighborhood. I don't live far from there.

Re: Cap 1 Strategy

Anonymous — Wed, 01 Jul 2015 06:55:46 GMT

When the lady found out I live in Hockessin she thought I was rich even though she could see my income. She was like O I wish I lived in that area. Little dose she know I lucked out and found a cheap house.

Re: Cap 1 Strategy

Anonymous — Wed, 01 Jul 2015 09:47:23 GMT

Here is a link to the results. Thanks so much for helping out everyone.

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Venture-QS-Freedom-and-It-approvals-thin-file-and-new-to-credit/m-p/4102572#M291152

Re: Cap 1 Strategy

SouthJamaica — Wed, 01 Jul 2015 11:40:47 GMT

@Anonymous wrote:
@Anonymous wrote:
Official Fico Score 8's from this site... Eq 654, Tu 669 and Exp. 691. Thin file. Always paid in cash. Oldest Account 11 years. Student loan. Journey Card opened in January, Finger Hut opened in Feb. Montage Agent wants me to can Finger hut and get some "Real" credit ASAP. His words.
Ok... Do this..

1) Discover

2) Chase Freedom to get the free $200 after $500 spend and it is a cash back card

3) Quicksilver and Venture minutes apart and then cool of on the app.

Forget the CAP 1 platinum. Report back with results if you do apply...

Good plan