topic Re: What should I do my good peoples!??? in Credit Cards

What should I do my good peoples!???

Anonymous — Wed, 09 Sep 2015 18:06:50 GMT

Hello All as I am new to the forum!

First and foremost thanks to everyone for the useful info and resources I have seen as I continue to look through the site. Moving forward my CL was just increased on my

capital quicksilver one card from 3k to 6k (automatically). I tried to recently request an increase but was denied due to them stating I just recently in the last 2 months had an increase, although I never requested one. In addition my credit score went up TU 699 and Equifax 710.

I just applied over the labor day weekend for Chase Freedom and was approved with a 2k CL but have not activated the card bc I actually would like a higher limit. Anyone can help with some suggestions would be great as i called the backdoor number which the rep indicated would take a hard pull to my credit history if I wanted them to look into an increase...again suggestions please.

I wanted to ask everyone's advice on the Amex bluecash everday card and if I should apply now for it or take the hard hit with asking for an increase from Chase. AGain scores of TU 699 and Equifax 710. Thanks, i know a long post but we got through it!

Re: What should I do my good peoples!???

happypill — Wed, 09 Sep 2015 18:36:50 GMT

Not activating a card doesn't mean anything. The account is already set up and has the limit that they assigned you. You can try calling to recon the starting limit, but I don't know if Chase does that. Generally, Chase isn't really good with CLI.

Here are two things that you actually should do.

1. Call to get your QS1 upgraded to a regular QS to remove the AF. That's pretty straightforward and people do it all the time.

2. Apply for a Venture. Cap One loves to reward people who use their cards. With your scores, I'd guess you'd get at least $10k on a Venture right now.

Re: What should I do my good peoples!???

Callandra — Wed, 09 Sep 2015 18:46:13 GMT

Anytime you ask for a CLI with Chase, it will be an HP. Chase is very HP happy. Chase isn't well known for auto-CLI either and many people are stuck with their initial limits long after their credit and income have grown considerably. A lot of people often wait 6+ months and get another Chase card and then move some of that limit over. I suggest just using the card and either hope for an auto-CLI or ask for one later when you are ready to take an HP. Often people who do take an HP for a CLI either get denied or get a $500 increase so you have to decide if it's worth it to you.

Re: What should I do my good peoples!???

Anonymous — Wed, 09 Sep 2015 18:50:38 GMT

Thanks so much Happypill! I am still getting familiar with the jargon used on the site and am unsure what AF means. I am researching the venture card now!

Re: What should I do my good peoples!???

Anonymous — Wed, 09 Sep 2015 18:52:30 GMT

Thanks Callandra! Considering the jewels you just dropped on me, I don't think it's worth it at this time to ask Chase for a HP.

Re: What should I do my good peoples!???

Anonymous — Wed, 09 Sep 2015 19:23:41 GMT

After chatting online with Cap1 they are able to upgrade my acct to a regular QS but I cannot receive the bonus offer that comes with a regular QS card. The rep stated that I can apply for the regular Cap1 card separtely to get the bonus. Im thinking I should just get the upgrade instead of applying simply for the bonus. Any advice?!

Re: What should I do my good peoples!???

Anonymous — Wed, 09 Sep 2015 19:46:55 GMT

I initially tried chatting with a rep and through a heap of messages the rep seemed to not understand that I wanted to know if I had a 0% intro APR rate with an acct upgrade. So I decided to cal in and the rep states I have to apply online as they do not do upgrades to the QS regular card bc it is for those with excellent credit

Re: What should I do my good peoples!???

UncleB — Wed, 09 Sep 2015 19:48:22 GMT

@Anonymous wrote:
After chatting online with Cap1 they are able to upgrade my acct to a regular QS but I cannot receive the bonus offer that comes with a regular QS card. The rep stated that I can apply for the regular Cap1 card separtely to get the bonus. Im thinking I should just get the upgrade instead of applying simply for the bonus. Any advice?!

If they are willing to upgrade you directly to a regular QS, I would personally take it.

The 'bonus' for the QS Visa is only $100 (or it was the last time I checked) and IMHO it's not worth taking three HPs for just $100.

This is just my opinion; others on here might feel differently. You'll just have to do what's right for you.

Re: What should I do my good peoples!???

Anonymous — Wed, 09 Sep 2015 19:51:34 GMT

Thx UncleB! I am with you on the not worth it portion, my only request was there some sort of 0% intro on the APR for a given time. The rep constatnly went around that question. I am currenlty chatting with another rep as this message gets posted

Re: What should I do my good peoples!???

UncleB — Wed, 09 Sep 2015 20:12:29 GMT

@Anonymous wrote:
Thx UncleB! I am with you on the not worth it portion, my only request was there some sort of 0% intro on the APR for a given time. The rep constatnly went around that question. I am currenlty chatting with another rep as this message gets posted

There are always 'exceptions', but in general a PC (product change) involves changing an existing account to a new type, while leaving the credit line and APR intact. Occasionally the AF will remain the same as well, but if the new product type has a more favorable AF (annual fee), or no annual fee, generally the customer will receive the better of the two.

Since 0% APR is usually considered part of the new account 'promo', it's generally not applied to product changes, although it certainly can't hurt to ask. Capital One has a reputation for being difficult to get permanent APR changes unless you go through the EO (executive office), which is beyond the scope of this post. This being said, many times the CSR will tell you they can give you a temporary APR reduction (usually for six months).

Good luck!

Re: What should I do my good peoples!???

Anonymous — Wed, 09 Sep 2015 20:15:13 GMT

Thx fo rbeing quick you your feet! I just typed the reduction request in the chat line!

Re: What should I do my good peoples!???

Anonymous — Wed, 09 Sep 2015 20:41:08 GMT

No love on the APR reduction as the rep told me to ask after the 28th of this month.

I wanted to ask your advice on the Amex bluecash everday card and if I should apply now for it or take the hard hit with asking for an increase from Chase OR should I try for the venture card as another suggested that I could consider. AGain scores of TU 699 and Equifax 710.

Re: What should I do my good peoples!???

UncleB — Wed, 09 Sep 2015 21:10:35 GMT

@Anonymous wrote:
No love on the APR reduction as the rep told me to ask after the 28th of this month.

I wanted to ask your advice on the Amex bluecash everday card and if I should apply now for it or take the hard hit with asking for an increase from Chase OR should I try for the venture card as another suggested that I could consider. AGain scores of TU 699 and Equifax 710.

I don't have any Chase products, so I'll leave that question to the folks who do. Callandra had some really good data points a few post up, and most folks on here I've chatted with re: Chase would say she's spot on.

Amex looks at other things beyond the credit score, but score-wise you should be OK for the BCE if your EX is similar to your TU and EQ. I got my own BCP with a EX of 695, but my oldest account is 10+ years old, which likely helped a bit. AAoA (average age of accounts) is important as well, of course.

If you want a card with a higher credit line, Venture is the go-to at the moment. Just keep in mind that as with all Capital One products, there will be a HP on each credit bureau, which may or may not concern you. Also, remember there's a $3000 minimum spend to get the bonus on Venture, so unless you've got some substantial expenses coming up (or your usual spending would support it anyway) that may be something to think about.

Re: What should I do my good peoples!???

Anonymous — Wed, 09 Sep 2015 21:22:29 GMT

Thank you! I am looking at the VentureOne card as well! What is your opinion on the venture one vs the venture (which is easier to get, which provides the higher cl)

Re: What should I do my good peoples!???

Anonymous — Wed, 09 Sep 2015 21:26:22 GMT

Just completed the Cap1 prequlifiy application and it states I am prequalified for the quicksilver (which I just was upgraded too!) and the Venture Rewards card! From anyone and your experience with Cap1 does this provide any good insight on approval?

Re: What should I do my good peoples!???

UncleB — Wed, 09 Sep 2015 21:30:08 GMT

@Anonymous wrote:
Just completed the Cap1 prequlifiy application and it states I am prequalified for the quicksilver (which I just was upgraded too!) and the Venture Rewards card! From anyone and your experience with Cap1 does this provide any good insight on approval?

If it offered you a specific APR the offer should generally be solid, just beware it will result in a HP from each credit bureau (total of three).

Re: What should I do my good peoples!???

kdm31091 — Wed, 09 Sep 2015 21:35:40 GMT

@Anonymous wrote:
Thank you! I am looking at the VentureOne card as well! What is your opinion on the venture one vs the venture (which is easier to get, which provides the higher cl)

Keep in mind there is literally no advantage to a Venture One over a Quicksilver. Venture One is 1.25% only for travel, whereas Quicksilver is 1.5% in cold hard cash you can use for anything. Don't apply for a Venture One.

Re: What should I do my good peoples!???

Anonymous — Wed, 09 Sep 2015 21:41:14 GMT

Once again thank you! Wow 3 HP's thats crazy! The Venture one appeals to me more than the Venture card, as I am simply looking for a card that will provide me the highest CL...

Re: What should I do my good peoples!???

Anonymous — Wed, 09 Sep 2015 21:43:03 GMT

Thank you kdm! Based upon my initial post do you have any recommendations on which card would provide me the highest CL based upon by credit scores. As well should I look into the AMEX everday blue cash card consideriing my scores TU 699 Equinox 710

Re: What should I do my good peoples!???

UncleB — Wed, 09 Sep 2015 21:47:54 GMT

@Anonymous wrote:
Thank you kdm! Based upon my initial post do you have any recommendations on which card would provide me the highest CL based upon by credit scores. As well should I look into the AMEX everday blue cash card consideriing my scores TU 699 Equinox 710

Of the Capital One products, Venture is usually where you'll get the highest credit line.

KDM is right-on-the-money about the Venture One, it's rubbish (OK, that's a bit harsh, but honestly, I can't really think of a single reason to get it over the QS or Venture).

Regarding Amex, remember they usually pull EX, not EQ or TU. Most approvals are with EX in the high-600s, but as always YMMV... they look at your whole profile.