topic Re: Capital one woes in Credit Cards

Capital one woes

Jaydawg220 — Sun, 14 May 2017 04:05:47 GMT

Credit scores are in the low-mid 600s.
Uti at 30%
Got 3 baddies, 2 pif, 1 still unpaid, all over 3 years old.
3 lates on each of my student loan accts from 2 years ago.
I currently have 8 tradeline:
Merrick unsecured $1200 CL
First Premier unsecured $300 CL
[2] Cap1 secured cards $550 CL each
Wells Fargo Secured $300 CL
Fingerhut $800 CL
[2] student loans $600 & $3500

AAoA 1.7 years

I applied for the Cap1 QS1 a few days ago, but it was denied because I already have the limit of 2 SubPrime accts w cap1. My first cap1 secured is almost 2 years old, while the 2nd is only just a year old.
Today I checked my prequal on Cap1 and got the congratulations for the QS1 and Plat.

If I were to close one of my Cap1secured cards, would I be able to immediately apply for the QS1, or would I have to wait a few days for the secured acct to fully close?
Also, would it be a good idea to close my 1 year old secured card? I hate to loose the history?
What are my potential starting limits if I did get approved for the QS1?
I'm Not Sure It's Even Worth Closing The Secured For An UNSECURED That's The Same CL And A New acct.
Any thought?

Re: Capital one woes

Aduke1122 — Sun, 14 May 2017 06:23:31 GMT

Has your Secured cards not graduated yet ? Most ppl do get kinda stuck and have to end up closing the secured and apping for a new unsecured, I would be totally hesitant right now with all the shakes Cap One is having lately plus the triple Hard pulls are a MAJOR turn off for me esp if there is a chance for denial or low SL

Re: Capital one woes

Aduke1122 — Sun, 14 May 2017 06:25:23 GMT

Our secured card graduated at 11 mths and we just got a Pc to the QS at 1 yr 4 mths , but absolutely no love at all with CLI , we have only seen one CLI and that was the one they give you after 6 statements

Re: Capital one woes

Anonymous — Sun, 14 May 2017 06:59:22 GMT

Search this forum for the cap1 upgrade link. You may be able to PC one of your cards to a better card without having to reapp for a new account.

Re: Capital one woes

Jaydawg220 — Sun, 14 May 2017 14:38:43 GMT

No, neither one has graduated. I was hoping 1 would, but shucks, iv been hoping for the 1st to graduate for a year now haha.
I'm really curious what the sl would be if I get that qs1. I think I'll definatly get approved, but I don't want a 500 sl. If it could be at least 1000, I'd be happy.
Iv already called up once, but the rep said they can't pc or cli the secured cards. (Unless I deposite more for the cli)
But when I called, the application dept was closed, so that rep maybe didn't know for sure, so they said no to the pc to be on the safe side. I'd absolutly love to pc it Yo the qs1.
Shoot, iv been with Cap1 for almost 2 years, I'm hoping they show me some kind of luv.

Re: Capital one woes

Anonymous — Sun, 14 May 2017 14:42:39 GMT

Close one Cap1 secured. You won't lose history, it will stay on your reports for 10 more years!

Re: Capital one woes

Jaydawg220 — Sun, 14 May 2017 15:27:08 GMT

Will it still be factored into my AAoA?

Re: Capital one woes

Aduke1122 — Sun, 14 May 2017 18:57:44 GMT

Yes even closed accounts get flavored into your AAOA on fico models

Re: Capital one woes

Jaydawg220 — Sun, 14 May 2017 19:12:19 GMT

Oh ok, nice. So then there's really no damage closing a cc account except for the uti limit being lowered.
It stinks that the application dept isn't open on sunday, so looks like I'll be closing the secured card and applying for the QS1 tommorrow morning. I'll update to let you guys know my SL.
Thanks for all the input everyone

Re: Capital one woes

Aduke1122 — Sun, 14 May 2017 19:19:06 GMT

I meant to type Factored lol sorry auto correct

Re: Capital one woes

Aduke1122 — Sun, 14 May 2017 19:20:33 GMT

Yes good luck and keep us updated and to recap closed accounts will factor in your AAOA for up to Ten years , yes the only negative affect would be the lowering of your Utilization if your carrying any balances that it could hurt

Re: Capital one woes

Jaydawg220 — Sun, 14 May 2017 19:27:52 GMT

Yep. Tommorrow I'll let you guys know what happens with my QS1 app. Hopefully it'll get approved.
I do have a requal for the QS1 and Plat.

Re: Capital one woes

Jaydawg220 — Sun, 14 May 2017 22:52:13 GMT

I closed my newest Cap1 secured card today.

I then went to the cap1 prequal site, fulled it out, and got the congratualations for the QS1 and PLAT.

I applied for the QS1, and was denied, and theyd send me the reasons in 5-7 days. WTH?

Im hoping its because the system still thinks i have 2 open accounts. Im going to call applications tommorrow and find out why.

Re: Capital one woes

Jaydawg220 — Mon, 15 May 2017 18:34:27 GMT

I called in today to see why i was denied even know i closed my acct, and i accidently closed my 2 year old secured card acct with the automated service trying to get a rep on the line and talk to somebody real. Unfortunatly they could not reverse it. Ughh, im so mad.
Both times I applied, may 7 and 14, I got denied for the QS1 bease i had 2 open accs al ready (even know i just close the one before hand). Both times were no hps.
So I asked for a recon and the rep sent it in for a review. She said it could take up to 3 weeks for a desicion.
So now I'm out of both my 1 year and 2 year old secured accts, and possibly denied for a new one. What a mess. Wish I would've just let my good account alone. Stupid Cap1 prequals!

Re: Capital one woes

Aduke1122 — Mon, 15 May 2017 18:37:19 GMT

Awww man I am very sorry to hear this Op that really sucks 😢

Re: Capital one woes

Aduke1122 — Mon, 15 May 2017 18:40:49 GMT

So I'm confused about why both of your Secured cards are now closed?

Re: Capital one woes

Anonymous — Mon, 15 May 2017 21:05:49 GMT

Why would you have two of the same cards? Lol. But my first card ever was their platinum card in 08 and I opened a quicksilver one in 16. Upgraded platinum to quicksilver then combined quicksilver and qs1. But I'd wait for it to show as closed before applying for qs1

Re: Capital one woes

Jaydawg220 — Mon, 15 May 2017 22:09:25 GMT

Yesterday, i called and had my new, 1 year old account closed, and then immediatly applied for the QS1, but was denied.

Then, I called this morning at 800 am, and I had to be work at 9, so I was rushing through the automated system to just to get a real person on the phone, so I entered my open account details accidentally, and then hit close account with the automated system, instead of pressing the option for speak with customer service. Its my fault, and im super pissed. After i finally got on the line with somebody, I told them i accidentally closed it, but they could not reopen it. They said they couldnt reopen it because it was a secured card.

I cant believe it. I feel like all the hard work on the secured account is gone. It was only a $550 CL, but still, i was never late, over limit, Always PIF, and had it for over 2 years!

Re: Capital one woes

Jaydawg220 — Mon, 15 May 2017 22:11:28 GMT

I dont know why i had 2. THe first time i applied for unsecured, and was denied, so i just settled for the secured.

Then i applied again for the unsecured 1 year later, and still denied. So again, i settle for a secured card.