topic Re: Should I apply for a 2nd Cap One? in Credit Cards

Should I apply for a 2nd Cap One?

Anonymous — Thu, 03 Sep 2015 02:19:38 GMT

I'm getting rid of First Premier,Verve,First Savings,Opensky. I won't be applying for any credit until probably August of next year. It will be a car loan. Should I apply for a 2nd Cap One card now? I'm pre-approved for another QuickSilver or a Platinum. Just need some advice.

Re: Should I apply for a 2nd Cap One?

Anonymous — Thu, 03 Sep 2015 02:23:54 GMT

If you're applying for a car loan in < 12 months, honestly I wouldn't. Apply for a card if it serves a purpose to you. Otherwise garden. You have 5 open positive accounts and 9 accounts in good standing. Might be helpful to improve utilization, but if you play the 1-9% trick in the months prior to your app, you'll be fine.

Re: Should I apply for a 2nd Cap One?

Anonymous — Thu, 03 Sep 2015 02:55:29 GMT

@Anonymous wrote:
I'm getting rid of First Premier,Verve,First Savings,Opensky. I won't be applying for any credit until probably August of next year. It will be a car loan. Should I apply for a 2nd Cap One card now? I'm pre-approved for another QuickSilver or a Platinum. Just need some advice.

No way. You only ned 3 credit cards for credit reports. Why do you want a duplicate card? Your scores are almost good enough for Amex my friend. You might actually get approved. Have you checked prequal for chase, amex, citi?

Re: Should I apply for a 2nd Cap One?

Anonymous — Thu, 03 Sep 2015 02:57:54 GMT

That sounds good to me. I just needed some expert advice on this situation. I also just got added on to my wife JCP $4000 and 2 Cap One cards $1000 & $1500. The accounts date back to 2003-2004 with no late payments. I was added on about 2 weeks ago. There is no balances on them because she uses Discover the most.

@Anonymous wrote:
If you're applying for a car loan in < 12 months, honestly I wouldn't. Apply for a card if it serves a purpose to you. Otherwise garden. You have 5 open positive accounts and 9 accounts in good standing. Might be helpful to improve utilization, but if you play the 1-9% trick in the months prior to your app, you'll be fine.

Re: Should I apply for a 2nd Cap One?

OmarGB9 — Thu, 03 Sep 2015 03:02:53 GMT

I would just garden if I were in your shoes.

Re: Should I apply for a 2nd Cap One?

Anonymous — Thu, 03 Sep 2015 03:04:55 GMT

@Anonymous wrote:
@Anonymous wrote:
I'm getting rid of First Premier,Verve,First Savings,Opensky. I won't be applying for any credit until probably August of next year. It will be a car loan. Should I apply for a 2nd Cap One card now? I'm pre-approved for another QuickSilver or a Platinum. Just need some advice.
No way. You only ned 3 credit cards for credit reports. Why do you want a duplicate card? Your scores are almost good enough for Amex my friend. You might actually get approved. Have you checked prequal for chase, amex, citi?

I have tried them and nothing pops up. I do have 5 CO's that are paid and a BK from 2011(maybe that's why)? According to CCT, the CO's are counting as late payments as of this year.

Re: Should I apply for a 2nd Cap One?

Anonymous — Thu, 03 Sep 2015 03:06:06 GMT

I agree with the above poster. If you're going to apply for another card, don't duplicate.

Even without a preapproval, I personally think you still would have a very good chance of approval for a Freedom and a decent chance of approval for an Amex charge card or an Amex EveryDay.

Re: Should I apply for a 2nd Cap One?

Anonymous — Thu, 03 Sep 2015 03:15:35 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
I'm getting rid of First Premier,Verve,First Savings,Opensky. I won't be applying for any credit until probably August of next year. It will be a car loan. Should I apply for a 2nd Cap One card now? I'm pre-approved for another QuickSilver or a Platinum. Just need some advice.
No way. You only ned 3 credit cards for credit reports. Why do you want a duplicate card? Your scores are almost good enough for Amex my friend. You might actually get approved. Have you checked prequal for chase, amex, citi?
I have tried them and nothing pops up. I do have 5 CO's that are paid and a BK from 2011(maybe that's why)? According to CCT, the CO's are counting as late payments as of this year.

you will have to find out who allows recent BK, I think amex its 5 years, I am probably wrong with that.

you being added to those 12 year old cap1 cards should bump up your score. wait for them to report and see if you go up

Re: Should I apply for a 2nd Cap One?

Anonymous — Thu, 03 Sep 2015 20:23:38 GMT

There's no need for duplication of cards. You seem to have enough accounts like the others have commented. And it's OK to apply if you feel you need another card. Just don't apply right before you get the auto loan

Re: Should I apply for a 2nd Cap One?

Anonymous — Thu, 03 Sep 2015 20:44:30 GMT

I will wait until my other AU account post on my report this month and then see if the pre-qual opens up venture. If not, then I will just lay low until late next year. Thanks for all the suggestions

Re: Should I apply for a 2nd Cap One?

kdm31091 — Thu, 03 Sep 2015 20:59:21 GMT

I'd just wait....the car loan is more important, and gardening will help ensure a good rate on it.