topic Re: Advice Needed - Capital One QuicksilverOne Cash rewards Master card, Chase Freedom in Credit Cards

Advice Needed - Capital One QuicksilverOne Cash rewards Master card, Chase Freedom

Anonymous — Wed, 21 Oct 2015 16:18:52 GMT

Hi,

I need advice as to which credit card suits best for my current credit stats. Credit karma suggests the Capital One Quicksilver One Cash Rewards Master Card with "Very Good" approval odds. I've also been reading up on Chase Freedom. Any advice on which I should apply? Reviews?

Thanks!

My stats:

CS: 580-614

Visa 10/11: $300 CL

Best Buy CC 02/14: $750CL

Student Loans; $90k

Auto Loan: 10k

NO missed CC payments

Couple Auto Loan payments missed

Income: $50k

Re: Advice Needed - Capital One QuicksilverOne Cash rewards Master card, Chase Freedom

sreneesa — Wed, 21 Oct 2015 16:23:10 GMT

Both ccs have prequalify sites. Check both to see if you prequalify....

Re: Advice Needed - Capital One QuicksilverOne Cash rewards Master card, Chase Freedom

Anonymous — Wed, 21 Oct 2015 16:25:24 GMT

Think about what you want long term. Both offer similar rewards at about 1.5% each. If the csp is anywhere on your radar or long term plan, go with the freedom as the freedom rewards can be transfered to the csp and both really work well in tandem. Use csp for targeted category spend and the freedom for 1.5% everything else. Mix and match points between the two as needed.

Re: Advice Needed - Capital One QuicksilverOne Cash rewards Master card, Chase Freedom

sreneesa — Wed, 21 Oct 2015 16:26:46 GMT

In my personal experience, I prequalified for both cards before getting cards. The prequalify link was solid for me.

My scores were similar for Cap1. I cannot recall, what my scores were for chase. I am assuming low 600's....

Re: Advice Needed - Capital One QuicksilverOne Cash rewards Master card, Chase Freedom

Anonymous — Wed, 21 Oct 2015 16:32:17 GMT

Are those scores CK FAKO scores or FICOs? With that score range I would hold off on Chase but Capital One is in your reach. Like many others have said, definitely check the prequalified tool. If worse comes to worse you get a capital one platinum, and then after couple months of good payment and usage you can PC to Quicksilver.

Re: Advice Needed - Capital One QuicksilverOne Cash rewards Master card, Chase Freedom

Anonymous — Wed, 21 Oct 2015 16:43:27 GMT

I checked both prequal tools. Neither had offers for. Don't know why.

Re: Advice Needed - Capital One QuicksilverOne Cash rewards Master card, Chase Freedom

Anonymous — Wed, 21 Oct 2015 16:44:24 GMT

The numbers aren't FICO.

Re: Advice Needed - Capital One QuicksilverOne Cash rewards Master card, Chase Freedom

Anonymous — Wed, 21 Oct 2015 16:46:48 GMT

I think that the two cards are fairly different. QS1 offers 1.5% back on everything. Freedom offers 5% back on select categories, which change every quarter, and 1% back on everything else. QS1 also has an annual fee, whereas Freedom does not. On the whole, I think that Freedom is the better of the two options after you factor in the fee. However, with your scores, I think that the Freedom would be a big stretch. I think you should apply for the QS1 and then, if successful, apply for the Freedom. If you aren't successful, save the inq and wait 6 months.

Re: Advice Needed - Capital One QuicksilverOne Cash rewards Master card, Chase Freedom

sreneesa — Wed, 21 Oct 2015 16:56:01 GMT

If possible, I encourage you to purchase FICO scores so you know your true scores.

Re: Advice Needed - Capital One QuicksilverOne Cash rewards Master card, Chase Freedom

Anonymous — Wed, 21 Oct 2015 17:12:27 GMT

Thank you all for the advice. Will do.

Also, in case I get approved for the C1 card, when they say 1.5 back on "all purchases"? What's excluded, if anything?

Re: Advice Needed - Capital One QuicksilverOne Cash rewards Master card, Chase Freedom

sreneesa — Wed, 21 Oct 2015 17:18:49 GMT

Cap1's 1.5 cash back is on everything your purchase. There is no exclusions.

Re: Advice Needed - Capital One QuicksilverOne Cash rewards Master card, Chase Freedom

Anonymous — Wed, 21 Oct 2015 17:50:38 GMT

@Anonymous wrote:
Thank you all for the advice. Will do.

Also, in case I get approved for the C1 card, when they say 1.5 back on "all purchases"? What's excluded, if anything?

I haven't found anything yet, so long as its a purchase, and not, say, a cash advance or a balance transfer.

Re: Advice Needed - Capital One QuicksilverOne Cash rewards Master card, Chase Freedom

Anonymous — Wed, 21 Oct 2015 18:54:51 GMT

UPDATE

Applied for the QS1 card, got denied.

Could the fact that I'm from Puerto Rico, and Puerto Rico isn't listed when filling my address information, be a factor for denial?

Re: Advice Needed - Capital One QuicksilverOne Cash rewards Master card, Chase Freedom

Anonymous — Wed, 21 Oct 2015 18:48:01 GMT

Should I call and ask to reconsider?

Re: Advice Needed - Capital One QuicksilverOne Cash rewards Master card, Chase Freedom

UncleB — Wed, 21 Oct 2015 19:33:58 GMT

@Anonymous wrote:
UPDATE

Applied for the QS1 card, got denied.

Could the fact that I'm from Puerto Rico, and Puerto Rico isn't listed when filling my address information, be a factor for denial?

I just did a google search, and there seems to be a concensus that you have to use a U.S. address to get a Capital One card.

Since you are a U.S. citizen, if you have a relative in the U.S. that would allow you to use their address that would likely work (others have said as much) but YMMV.

I'm sorry I don't have any better suggestions...

Re: Advice Needed - Capital One QuicksilverOne Cash rewards Master card, Chase Freedom

UncleB — Wed, 21 Oct 2015 19:35:29 GMT

@Anonymous wrote:
Should I call and ask to reconsider?

It definitely can't hurt, and policies are always changing... if you decide to contact them, let us know how it goes!

Re: Advice Needed - Capital One QuicksilverOne Cash rewards Master card, Chase Freedom

gdale6 — Fri, 23 Oct 2015 21:24:59 GMT

Thread is closed to further posts and discussion on denied app is continued in the Apps forum with this topic

http://ficoforums.myfico.com/t5/Credit-Card-Applications/Advice-Needed-Capital-One-QuicksilverOne-Cash-rewards-DENIED/td-p/4289389