topic Re: QS1 vs QS in Credit Card Applications

QS1 vs QS

Anonymous — Sun, 16 Aug 2015 22:40:32 GMT

Here is my scenario. I have Capital One secured card that I have paid on time for 24 months. Through this forum I feel I may have had this card a little to long, but it did its job.

Currently: EXP: 612 TU: 637 EQ: 672

I have used prequal site and it shows QS1 and Platinum. I was wondering, if apply for QS will they rebuttal with QS1 if not approved? Would it be recommended to apply for platinum at this time as well?

I appreciate any input.

Re: QS1 vs QS

Anonymous — Sun, 16 Aug 2015 22:41:49 GMT

Any other cards apart from the secure cards in your credit portfolio? Any baddies or are your reports clean?

Re: QS1 vs QS

Anonymous — Mon, 17 Aug 2015 01:05:19 GMT

If you are not approved for the QS it will not just offer up another card. With your scores and your rebuilding I would just apply for QS1 for right now and give it a little time first. Your EX is a little low and cap 1 does a triple pull. I wouldn't waste it on the QS without a prequal.

I would apply for the QS1 and then apply for platinum all in one shot. Apply for QS1 first. Post back what you end up with! And like Yes-its-me posted, what does the rest of your report look like? That's more important then #s. AAoA, COs, BK etc.

Re: QS1 vs QS

Anonymous — Mon, 17 Aug 2015 01:46:53 GMT

Secured CO $750 Bestbuy MC $500 Discover It $1,000 Walmart $800 Kay Jewelers $3,000 Macy's $300 Overstock $2,200 and just approved for DCU $3,000. Overstock or DCU has yet to report.
Util is at 20%
1 baddie a B of A charge off from 2012. (Unpaid but would apply secured deposit towards paying off charge off)
AAoA 1 yr - 3 yr depeding on CRA.
Since Cap One is a triple pull and there is such variance on scores, that is what concerns me.

Thanks for input.

Re: QS1 vs QS

Anonymous — Mon, 17 Aug 2015 01:52:29 GMT

@Anonymous wrote:
If you are not approved for the QS it will not just offer up another card. With your scores and your rebuilding I would just apply for QS1 for right now and give it a little time first. Your EX is a little low and cap 1 does a triple pull. I wouldn't waste it on the QS without a prequal.

I would apply for the QS1 and then apply for platinum all in one shot. Apply for QS1 first. Post back what you end up with! And like Yes-its-me posted, what does the rest of your report look like? That's more important then #s. AAoA, COs, BK etc.

EQ is #1 in the Capital One stable. I'd say the poster is fine for applying for the regular Quicksilver instead of it's slow cousin that comes with a yearly medical bill.

Re: QS1 vs QS

Anonymous — Mon, 17 Aug 2015 02:13:25 GMT

While I do agree with the EQ statement it also may be in the OPs best interest to app for the QS1, call and get AF removed which they do often then 6 months PC to regular QS. I wouldn't want to see him waste 3 HPs if it isn't a sure thing.

Re: QS1 vs QS

Anonymous — Mon, 17 Aug 2015 02:17:59 GMT

@Anonymous wrote:
While I do agree with the EQ statement it also may be in the OPs best interest to app for the QS1, call and get AF removed which they do often then 6 months PC to regular QS. I wouldn't want to see him waste 3 HPs if it isn't a sure thing.

Nothing ventured, nothing gained. 2-3 HPs for a likely $300-500 initial limit on a card with a $39 annual fee and sky high APR, Or take a shot at the heavy hitter with a better chance of an acceptable limit and perhaps even a lower APR. Risk vs Reward dillema here.

Re: QS1 vs QS

Anonymous — Mon, 17 Aug 2015 03:38:56 GMT

Ok well I'm not going to argue with you, we just both have our separate opinions. I'll just add I know numerous people that have PCd to QS shortly after receiving their card and definitely better SL than 300-500.. I myself got a SL of 2k on QS1. And also for what it's worth I only had a secured card through them at the time and they were IIB ch7 that was discharged in 2011. To the OP good luck with whatever option you choose and please report back!

Re: QS1 vs QS

Anonymous — Mon, 17 Aug 2015 04:52:22 GMT

This is the dilemma I have been having, but at least I feel it is a valid dilemma. I will apply after a couple of statements close this week to improve util and DCU account should report by then as well..

Re: QS1 vs QS

Anonymous — Mon, 17 Aug 2015 08:44:10 GMT

@Anonymous wrote:
Here is my scenario. I have Capital One secured card that I have paid on time for 24 months. Through this forum I feel I may have had this card a little to long, but it did its job.

Currently: EXP: 612 TU: 637 EQ: 672

I have used prequal site and it shows QS1 and Platinum. I was wondering, if apply for QS will they rebuttal with QS1 if not approved? Would it be recommended to apply for platinum at this time as well?

I appreciate any input.

If you apply for QS and are not approved, they will not counter with a different product.

You need to put yourself in a position they say "we gotta have him, there's no way i would decline his QS application". As of right now, you have no unsecured revolving credit and your credit scores are a bit low. I don't think you will get approved for their premier cash rewards card. It's all about odds and IMHO currently the odds are against you with qualifying for QS and it's not worth risking three hard pulls. (Just trying to be constructive)

I would recommend to apply for the Platinum now and put all your spending on it while making multiple payments monthly if you get close to your CL, skip QS1, and hold off for QS until after you have established your unsecured revolving credit for 6 months or your score reaches 700 whichever comes first.

Re: QS1 vs QS

tbque — Mon, 17 Aug 2015 21:32:38 GMT

@Anonymous wrote:
@Anonymous wrote:
Here is my scenario. I have Capital One secured card that I have paid on time for 24 months. Through this forum I feel I may have had this card a little to long, but it did its job.

Currently: EXP: 612 TU: 637 EQ: 672

I have used prequal site and it shows QS1 and Platinum. I was wondering, if apply for QS will they rebuttal with QS1 if not approved? Would it be recommended to apply for platinum at this time as well?

I appreciate any input.
If you apply for QS and are not approved, they will not counter with a different product.

You need to put yourself in a position they say "we gotta have him, there's no way i would decline his QS application". As of right now, you have no unsecured revolving credit and your credit scores are a bit low. I don't think you will get approved for their premier cash rewards card. It's all about odds and IMHO currently the odds are against you with qualifying for QS and it's not worth risking three hard pulls. (Just trying to be constructive)

I would recommend to apply for the Platinum now and put all your spending on it while making multiple payments monthly if you get close to your CL, skip QS1, and hold off for QS until after you have established your unsecured revolving credit for 6 months or your score reaches 700 whichever comes first.

I believe OP has all unsecured credit cards except for CO I think you read that wrong. I would definitely recommend the QS1 over the Platinum simply for the rewards. With the Platinum you get nothing.