topic Re: Cap1 Quicksilver1 advise in Credit Cards

Cap1 Quicksilver1 advise

Anonymous — Wed, 01 Nov 2017 01:17:45 GMT

Hello myFico fam. need your advise on what to do next.

Recently applied for the quicksilver - received the 10-15 day msg called in and they wanted to verify income. Fast forward few days later I received the card in the mail and it's a QS1 not QS with a CL of $500. Now I know my credit is not great as I'm still rebuilding currently 660 across all cra's but i have recently was approved for Ritz @10K - 5/3 @ 10K - Penfed @2.5K,

Now my question is do I keep this card and expect it to grow into something decent? (which I highly doubt based on other posts) or should I just call cap1 and have them close the acc?.

Thanks in advance for you feedback.

Re: Cap1 Quicksilver1 advise

Adkins — Wed, 01 Nov 2017 02:55:18 GMT

Ouch. Can you call and recon the credit limit? Personally, I'd keep it at least a year - I hate wasting a HP for nothing.

Re: Cap1 Quicksilver1 advise

Anonymous — Wed, 01 Nov 2017 15:33:17 GMT

I'd definitely call recon and explain what happened. Be aware the Cap1 QS1 normally has an annual fee of around $40.

Re: Cap1 Quicksilver1 advise

Anonymous — Wed, 01 Nov 2017 21:18:43 GMT

I’m sorry in advance that I can’t offer any advice but my situation is somewhat similar to yours. I have cards from Chase, Discover, BofA, Citi, Amex, and Comenity Visas with CLs well into the thousands. However, when I PQ’d and then applied for the Quicksilver on C1’s website I was given a CL of $500. My Ficos are all in the 705-740 range, I’ve never missed a payment on anything, ever, my utilization is around 15%, and I always pay way over the minimum amount due.

On the other hand, my AAoA is only about nine months and I have eight inquiries this year. I’m guessing that may have set off at least some yellow flags with C1.

I figure I’ll use the **bleep** thing for the cash back and the opportunity to grow with C1 but yes, I was a bit peeved. I was actually more than peeved but I’m keeping it clean for etiquette’s sake.

Re: Cap1 Quicksilver1 advise

Loquat — Wed, 01 Nov 2017 21:45:42 GMT

@Anonymous wrote:
I'd definitely call recon and explain what happened. Be aware the Cap1 QS1 normally has an annual fee of around $40.

Unfortunately CapOne doesn't play in the "recon" arena. You kinda get what you get with them. Can they grow...sure, how fast? Who knows...

Re: Cap1 Quicksilver1 advise

Anonymous — Wed, 01 Nov 2017 23:07:50 GMT

Thanks for the info every bit helps. I was wayyyyy more than peeved, almost turned my laptop into a frisbee lol.

Your scores are way better than mine and they still gave you the same CL that's nuts. my AAoA is about 5 yrs, total util is 9% and 8 inqs in the past 12 months.

I'll probably just cancel it and try again in a year or two, for what I have read it will take an eternity for the CL to catch up to my other cards. I'll just concentrate on bringing PenFed and discover to the same level as the others.