topic Re: Capital One in Credit Cards

Capital One

Anonymous — Sat, 04 Feb 2017 10:49:34 GMT

Any experienced Credit card holders out there this time of night.

Re: Capital One

Anonymous — Sat, 04 Feb 2017 10:58:48 GMT

I think there's always someone on here who's awake. I guess with different time zones. And working nights. hahaha.

Re: Capital One

Anonymous — Sat, 04 Feb 2017 11:12:38 GMT

I've been getting approvals from 1500 to 2K in the past 2 days. I applied for a Sony Visa with Cap one. got an instant 300 approval. I already have 2 other visa with cap one over 1k limit. Should I cancel the 300 card that they just approved me for because of the low limit.

Re: Capital One

Anonymous — Sat, 04 Feb 2017 11:34:20 GMT

That's up to you. Why not keep it. It cost you 3 hard pulls.

Re: Capital One

Anonymous — Sat, 04 Feb 2017 11:37:02 GMT

wow impressive.

Re: Capital One

Anonymous — Sat, 04 Feb 2017 12:07:56 GMT

@Anonymous wrote:
wow impressive.

What's your current profile?

1, FICO scores?

2. How may cards do you have now?

3. AAoA?

I try to limit getting store cards. Getting store cards left and right will affect your AAoA. But if you have more benefit from them, go for it. I think most strore cards are issued by Comenity or Synchrony. They have been known to close accounts randomly. Diversify your accounts with multiple lenders that you plan to stick with for a long time.

Re: Capital One

MrsCHX — Sat, 04 Feb 2017 12:11:18 GMT

Getting any type of cards left and right will affect your AAoA, not just store cards. The card is opened. Any damage to AAoA is done.

Keep it awhile and if it ends up not working for you, close it.

Re: Capital One

Anonymous — Sat, 04 Feb 2017 12:15:31 GMT

To me this could also point to your income why your limits are coming in low....

Re: Capital One

Anonymous — Sat, 04 Feb 2017 13:06:50 GMT

@MrsCHX wrote:
Getting any type of cards left and right will affect your AAoA, not just store cards. The card is opened. Any damage to AAoA is done.

Keep it awhile and if it ends up not working for you, close it.

Yes, this is very true. My response was very irresponsible. I apologize for that. I meant to say, if I were to lose valuable AAoA, I wouldn't do it with getting store cards. But then, it's value completely depends on someone's need. I say, research and prioritize your needs and find the one that will give you the most return in terms of rewards, points, cash back and have the most benefit from.

Re: Capital One

Anonymous — Sat, 04 Feb 2017 14:03:02 GMT

FCU 500, NFCU Go Rewards 1700, Cap one rewards 1500, Cap one platnium 1100, paypal 2K, Kay 1500, Furniture 2K, Barclay 1500, Sony Cap one 300, Walmart 700, Belk 350, Merrick bank 1400, Pier one 1500, Home Depot 500, Meijer 700, Firestone 800 and 16 other retail cards ranging from 300 to 800.

EQ 602, TU 632, EX 634

Re: Capital One

Anonymous — Sat, 04 Feb 2017 14:08:29 GMT

For a new comer. What is AAOA

Re: Capital One

Anonymous — Sat, 04 Feb 2017 14:11:00 GMT

I been weeding out and closing store cards here to lately as I want nothing but bank cards now. They hold More value and bang for your buck and score to.

Re: Capital One

Anonymous — Sat, 04 Feb 2017 14:21:33 GMT

Scott2696

In regards to AAOA heres a link for you:

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Improving-Average-Age-of-Account/td-p/4448256

Re: Capital One

Anonymous — Sat, 04 Feb 2017 14:27:17 GMT

O ok. Thank you.. Also, I thought a Hard pull affected score. I just got hit with 2 inquires and instead of my score going down it went up 2 points. That's 2x so far that this has happened.

Re: Capital One

bk510 — Sun, 05 Feb 2017 04:19:26 GMT

@Anonymous wrote:
I've been getting approvals from 1500 to 2K in the past 2 days. I applied for a Sony Visa with Cap one. got an instant 300 approval. I already have 2 other visa with cap one over 1k limit. Should I cancel the 300 card that they just approved me for because of the low limit.

That Sony Visa started with $500 SL and its now 5.65K. Account 3 yrs old.

Last increase on this was 3K.......It'll grow, abit lil slow than others but I would def keep'em at least for now.

Good luck,

Re: Capital One

Anonymous — Sun, 05 Feb 2017 13:55:28 GMT

@Anonymous wrote:
wow impressive.

Glad you thought so.