topic Re: Capital One Pre-Qual for Visa Signature in Credit Cards

Capital One Pre-Qual for Visa Signature

Anonymous — Fri, 20 Mar 2015 13:33:03 GMT

Good morning! A few questions for all of you knowledgeable people...

I tried out the Capital One pre-qual this morning and up front and center was the Quicksilver with the Visa Signature logo on it.

Is the pre-qual on that site reliable? If I apply, is there a chance that I might only get the regular QS and not the Visa Signature version? Is the card worth having? It seems the consensus on the board is that Capital One is not the most favorable because of triple pulls and low starting limits, but I'm enticed by the possibility of the Signature card.

My current plan is to apply for a Chase Freedom and Amex ED in the next few days when my credit report updates a new lower balance one of my cards. Am I better off just sticking with this plan for these two cards?

Thanks!

Re: Capital One Pre-Qual for Visa Signature

Anonymous — Fri, 20 Mar 2015 13:40:23 GMT

Do you see the opt out prescreen notice anywhere? Does it offer you a specific interest rate if you click on pricing and terms? If both, it's likely a legitimate offer. However, make sure all three of your bureaus are clean and close to the same. You don't know which bureau was pinged for the SP to make this offer. If that one is clean but others are not, you could still get denied since CapOne is a tri-pull.

Please look for the opt out prescreen notice and see if it offers you a specific APR. You'll see the opt out prescreen notice somewhere at the bottom of the screen and pricing and terms should say your APR WILL BE __% and not a range like 13.99 to 22.99 based on credit worthiness.

Re: Capital One Pre-Qual for Visa Signature

Anonymous — Fri, 20 Mar 2015 13:48:37 GMT

@Anonymous wrote:
Do you see the opt out prescreen notice anywhere? Does it offer you a specific interest rate if you click on pricing and terms? If both, it's likely a legitimate offer. However, make sure all three of your bureaus are clean and close to the same. You don't know which bureau was pinged for the SP to make this offer. If that one is clean but others are not, you could still get denied since CapOne is a tri-pull.

Please look for the opt out prescreen notice and see if it offers you a specific APR. You'll see the opt out prescreen notice somewhere at the bottom of the screen and pricing and terms should say your APR WILL BE __% and not a range like 13.99 to 22.99 based on credit worthiness.

Yes, have both the opt out notice and a static APR rate offered, not a range.

My reports are almost all identical, but EX is clean while the other two have both a paid collection for $181 and an unpaid collection for $75 from 2009. I do have some lates from the same time frame. Actually, those lates show on the EX as well I believe. My EX FICO is 734, My TU FICO is 676 and I don't know my EQ FICO since I don't have access to it, only FAKO for that one. All of my new credit is perfect, an auto loan, a secured card, a care credit card and three store cards. Secured card is two years old, all others within last year. Hardly any inquires on my reports and the ones that are there are over 6 months. My utilization will be 13% once my reports update for one card, right now it's at 16%.

Is the card worth having though? Or am I good with the Freedom and Amex? I was preapproved for the Freedom, going to take a swing at the Amex.

Re: Capital One Pre-Qual for Visa Signature

Anonymous — Fri, 20 Mar 2015 13:53:10 GMT

I also have the Venture rewards and ~~Platinum Prestige~~ showing up, if that helps with any advice.

edit: Don't need a balance transfer card, looking for rewards cards.

Re: Capital One Pre-Qual for Visa Signature

Anonymous — Fri, 20 Mar 2015 14:07:49 GMT

@Anonymous wrote:
@Anonymous wrote:
Do you see the opt out prescreen notice anywhere? Does it offer you a specific interest rate if you click on pricing and terms? If both, it's likely a legitimate offer. However, make sure all three of your bureaus are clean and close to the same. You don't know which bureau was pinged for the SP to make this offer. If that one is clean but others are not, you could still get denied since CapOne is a tri-pull.

Please look for the opt out prescreen notice and see if it offers you a specific APR. You'll see the opt out prescreen notice somewhere at the bottom of the screen and pricing and terms should say your APR WILL BE __% and not a range like 13.99 to 22.99 based on credit worthiness.

Yes, have both the opt out notice and a static APR rate offered, not a range.

My reports are almost all identical, but EX is clean while the other two have both a paid collection for $181 and an unpaid collection for $75 from 2009. I do have some lates from the same time frame. Actually, those lates show on the EX as well I believe. My EX FICO is 734, My TU FICO is 676 and I don't know my EQ FICO since I don't have access to it, only FAKO for that one. All of my new credit is perfect, an auto loan, a secured card, a care credit card and three store cards. Secured card is two years old, all others within last year. Hardly any inquires on my reports and the ones that are there are over 6 months. My utilization will be 13% once my reports update for one card, right now it's at 16%.

Is the card worth having though? Or am I good with the Freedom and Amex? I was preapproved for the Freedom, going to take a swing at the Amex.

I love mine. I like that the rewards post immediately after the charge posts. If you're seeing the opt out prescreen and a specific APR offered, you'll likely get approved although I don't trust CapOne's prequal as much as say Chase or Amex (both are 'money'; you get an offer and it's dang near guaranteed). I recommend the card if you need a general spend card for charges that don't fall within a higher rewards category. Of course, there's always the Citi Double Cash for that, too but honestly, I like CapOne's website better and payment options more. I don't know what's best for you; I can only give you the info I've learned whereas to help you make the best decision. If you decide to apply, please let us know how it goes.

Re: Capital One Pre-Qual for Visa Signature

Anonymous — Fri, 20 Mar 2015 14:44:25 GMT

@Anonymous wrote:
I love mine. I like that the rewards post immediately after the charge posts. If you're seeing the opt out prescreen and a specific APR offered, you'll likely get approved although I don't trust CapOne's prequal as much as say Chase or Amex (both are 'money'; you get an offer and it's dang near guaranteed). I recommend the card if you need a general spend card for charges that don't fall within a higher rewards category. Of course, there's always the Citi Double Cash for that, too but honestly, I like CapOne's website better and payment options more. I don't know what's best for you; I can only give you the info I've learned whereas to help you make the best decision. If you decide to apply, please let us know how it goes.

Thanks so much for your advice, I think I know what I want to do now I will update when I get it done, just need that account to report the update!

Re: Capital One Pre-Qual for Visa Signature

Anonymous — Fri, 20 Mar 2015 14:55:36 GMT

Oh, and the other question....if the Visa signature is showing, that's what I would actually be applying for, right? I won't get surprised with a regular Visa when it arrives or anything, will I? Does anybody have any experience with that?

Re: Capital One Pre-Qual for Visa Signature

Anonymous — Fri, 20 Mar 2015 15:00:05 GMT

@Anonymous wrote:
Oh, and the other question....if the Visa signature is showing, that's what I would actually be applying for, right? I won't get surprised with a regular Visa when it arrives or anything, will I? Does anybody have any experience with that?

You could very well get the regular Visa if the limit is under 5K.

Re: Capital One Pre-Qual for Visa Signature

JSS3 — Fri, 20 Mar 2015 15:05:44 GMT

Just a heads up. Visa Signature doesn't mean it has a minimum of 5,000. You can be approved for 3,000.

Edit: georgiapeach beat me to it.

Re: Capital One Pre-Qual for Visa Signature

lg8302ch — Fri, 20 Mar 2015 15:08:13 GMT

What are your other limits? Is the APR 12,9 or 16,9% on your offer? Mine was 16,9% and I did get approved for 5K CL QS VS with same limit as my BofA cards at the time.EQ Fico was 790 when they approved.

Re: Capital One Pre-Qual for Visa Signature

Anonymous — Fri, 20 Mar 2015 15:09:25 GMT

You may or may not get the visa signature. It depends on the limit you are approved for.

Re: Capital One Pre-Qual for Visa Signature

Anonymous — Fri, 20 Mar 2015 15:16:02 GMT

@Anonymous wrote:
You may or may not get the visa signature. It depends on the limit you are approved for.

Ok, that's my concern. I'm being enticed by the possibility of it being a Visa Signature. It wasn't even on my radar before then. But I see it has better rewards than the Freedom, unless I'm spending in the rotating 5% categories on that one.

The APR they offered is 17.9%. My other limits are $1500, $1100, $1100, $1000 and $250 on the secured card (first card I opened when I started my credit rebuild, my jumping point and the limit I chose personally). We did the prequal for my husband this morning too on Capital One. His credit isn't good at all really, his FAKOs are 630s and his only other credit source is our vehicle loan. They approved him for the Platinum with a $3,000 limit. I'm sure the underwriting is different for the different cards though.

Re: Capital One Pre-Qual for Visa Signature

Anonymous — Fri, 20 Mar 2015 15:17:48 GMT

@JSS3 wrote:
Just a heads up. Visa Signature doesn't mean it has a minimum of 5,000. You can be approved for 3,000.

Edit: @Anonymous beat me to it.

This part confused me a bit. Does that mean a starting limit of $3,000 can still be a Visa Signature? Or it wouldn't be unless the limit is at least $5000 at approval?

Re: Capital One Pre-Qual for Visa Signature

Anonymous — Fri, 20 Mar 2015 15:21:19 GMT

@Anonymous wrote:
@Anonymous wrote:
You may or may not get the visa signature. It depends on the limit you are approved for.
Ok, that's my concern. I'm being enticed by the possibility of it being a Visa Signature. It wasn't even on my radar before then. But I see it has better rewards than the Freedom, unless I'm spending in the rotating 5% categories on that one.

The APR they offered is 17.9%. My other limits are $1500, $1100, $1100, $1000 and $250 on the secured card (first card I opened when I started my credit rebuild, my jumping point and the limit I chose personally). We did the prequal for my husband this morning too on Capital One. His credit isn't good at all really, his FAKOs are 630s and his only other credit source is our vehicle loan. They approved him for the Platinum with a $3,000 limit. I'm sure the underwriting is different for the different cards though.

The QS is a really good card with or without it being a signature. Mine has a CL of $5300 and is not a sig because it started as the Journey card. The rewards post immediately and are really easy to cash out. Honestly, I don't think I have ever used the signature perks on any of my other cards. I think you stand a fair chance of getting a pretty good starting limit but I'm no expert.

It will NOT be a signature UNLESS it has a starting limit of at least 5K.

Re: Capital One Pre-Qual for Visa Signature

JSS3 — Fri, 20 Mar 2015 15:28:03 GMT

@Anonymous wrote:
@JSS3 wrote:
Just a heads up. Visa Signature doesn't mean it has a minimum of 5,000. You can be approved for 3,000.

Edit: @Anonymous beat me to it.
This part confused me a bit. Does that mean a starting limit of $3,000 can still be a Visa Signature? Or it wouldn't be unless the limit is at least $5000 at approval?

The latter.

Re: Capital One Pre-Qual for Visa Signature

Anonymous — Fri, 20 Mar 2015 15:40:30 GMT

Gotcha, thanks so much

Alrighty, I'll think on it then, I still have a day or two before that account will update. The statement cuts today and according to my past report it reported on the 21st, so hopefully I'll be able to jump on my tiny little mini spree soon. I've been looking for a third card to round out my spree, I want to get them done, close out the secured card and get my moo-lah back and then garden indefinitely until we're ready to go house shopping in a few years.

Unless you guys can think of a third card to round out the Freedom and the Amex ED? Assuming I get approved for both that is.

Re: Capital One Pre-Qual for Visa Signature

Anonymous — Fri, 20 Mar 2015 15:45:33 GMT

@Anonymous wrote:
Gotcha, thanks so much

Alrighty, I'll think on it then, I still have a day or two before that account will update. The statement cuts today and according to my past report it reported on the 21st, so hopefully I'll be able to jump on my tiny little mini spree soon. I've been looking for a third card to round out my spree, I want to get them done, close out the secured card and get my moo-lah back and then garden indefinitely until we're ready to go house shopping in a few years.

Unless you guys can think of a third card to round out the Freedom and the Amex ED? Assuming I get approved for both that is.

There is not much mapping between CL and Sig/non-sig. I have two Quicksilvers:

1) CL $35K This is a plat

2) CL $20K This is a sig

Also, at least some of us put VERY little value on Sig. What benefits do you think you would use? I am asking because this seems to be criticial for you and not sure why! The QS is a very good card with it's No Hassle redemption. I think the Citi Double Cash has reduced its appeal somewhat, but as an everyday non-category spend card, it is very worthwhile, Sig or Plat.

Re: Capital One Pre-Qual for Visa Signature

Anonymous — Fri, 20 Mar 2015 15:59:47 GMT

@Anonymous wrote:
@Anonymous wrote:
Gotcha, thanks so much

Alrighty, I'll think on it then, I still have a day or two before that account will update. The statement cuts today and according to my past report it reported on the 21st, so hopefully I'll be able to jump on my tiny little mini spree soon. I've been looking for a third card to round out my spree, I want to get them done, close out the secured card and get my moo-lah back and then garden indefinitely until we're ready to go house shopping in a few years.

Unless you guys can think of a third card to round out the Freedom and the Amex ED? Assuming I get approved for both that is.
There is not much mapping between CL and Sig/non-sig. I have two Quicksilvers:

1) CL $35K This is a plat
2) CL $20K This is a sig

Also, at least some of us put VERY little value on Sig. What benefits do you think you would use? I am asking because this seems to be criticial for you and not sure why! The QS is a very good card with it's No Hassle redemption. I think the Citi Double Cash has reduced its appeal somewhat, but as an everyday non-category spend card, it is very worthwhile, Sig or Plat.

Not critical at all, just like the idea of the perks. I may or may not use them, but nice to know they're there if I want to. I am a bargain shopper, I like the idea of the discounts on shopping. We don't travel now but plan to change that in the future and are setting ourselves up to be able to, and I'm picking cards that will give us benefits and perks when we do. I'm also looking at cash back reward cards for the obvious reasons.

Like I said, it wasn't even on my radar before this morning. Whether it ends up a siggy card was important for the fact that I wanted to make sure the card was going to be worthwhile and that was a perk of it. But you guys all seem to be quite happy with it regardless of whether it's a siggy or not, so that makes me want to add it to my portfolio. I just hadn't done the research on it yet as I've done for the other cards so far so I wasn't sure if it was something I should pursue

I don't plan on applying for tons of cards, don't want tons of cards, I just want to add some regular cards to my accounts, so far the only one I have is the secured card and the rest are store cards. I'd like to pick ones that can grow with me and continue to offer rewards beyond their startup bonuses.

Re: Capital One Pre-Qual for Visa Signature

ddemari — Fri, 20 Mar 2015 16:48:42 GMT

Last year i was prequaled for quicksilver ventureone and platimun prestige. I apped for Ventureone, immediate 5k visa sig approval

I apped next for QS visa, immediate 3k platinum approved. Called them and they gave me 6k. With QS it can go either way

Re: Capital One Pre-Qual for Visa Signature

black_citi — Fri, 20 Mar 2015 19:44:37 GMT

I just checked their site to see if I prequal for any cards and I prequaled the the venture and quicksilver visa. I currently have the qs master card. I want the visa. It said I have 0% the first year and 17.99% after. No annual fee which is nice.