topic Re: Capital One... in Credit Cards

Capital One...

Anonymous — Thu, 12 Sep 2019 02:29:57 GMT

I know this creditor is looked down on by those with good credit, but is opening a second card with Capital One a good idea? I already have an unsecured capital one with a $500 limit. As of now, it's my only credit card. Well, capital one sent a preapproved invite for the quick silver card. 9 months at 0% and no annual fee. My fico is around 600. Should I take this offer to build my credit? Thanks.

Re: Capital One...

Anonymous — Thu, 12 Sep 2019 02:39:35 GMT

Capital One is a great company with some good cards. The cards are kinda basic and other companies may over more but Cap1 is not to be ignored. Quicksilver is a solid card for all those catch all expenses. The Venture is a great travel card. It was named the best travel card last year. Savor is a solid card for those that eat out a lot. Just do your research. Other companies may offer same or better perks so see what fits best in your credit card portfolio.

Re: Capital One...

Hut1 — Thu, 12 Sep 2019 02:45:22 GMT

I agree with Hybrid. Capital One is a well established provider with perks of all kinds depending on the card. Maybe go to the Cap1 website and check your prequal offers before applying? They say that just because you get a pre-approval offer doesn’t mean they'll actually approve your application.

Re: Capital One...

Anonymous — Thu, 12 Sep 2019 02:58:08 GMT

Cap One is that cool crazy uncle at the family BBQ that will drink a beer with you and share some embarrassing stories.

Re: Capital One...

Anonymous — Thu, 12 Sep 2019 03:55:55 GMT

Go to the Cap1 website and click “respond to mail offer”. Confirm it’s a solid APR (not a range)

Thats a decent card for your second card.

Re: Capital One...

Anonymous — Thu, 12 Sep 2019 04:10:00 GMT

Capital One’s biggest “fault” is that some of their cards are “bucketed”. This is when they cap you out at a low limit on a certain card (usually the Platinum).

Personally, I’ve been very happy with Capital One. They have been very generous with SLs as seen here on the forums.

As others have suggested, do your research before applying, and see if that card will fit your needs, or if there is something else out there that would be more beneficial

Re: Capital One...

Credit_hawk — Thu, 12 Sep 2019 07:22:26 GMT

The crazy drunk uncle who writes you a check for a gift that bounces.

@Anonymous wrote:
Cap One is that cool crazy uncle at the family BBQ that will drink a beer with you and share some embarrassing stories.

Re: Capital One...

GApeachy — Thu, 12 Sep 2019 11:18:12 GMT

@Credit_hawk wrote:
The crazy drunk uncle who writes you a check for a gift that bounces.
@Anonymous wrote:
Cap One is that cool crazy uncle at the family BBQ that will drink a beer with you and share some embarrassing stories.

....that bounces three (hp) times.

Re: Capital One...

Dalmus — Thu, 12 Sep 2019 11:31:32 GMT

Other than 3 HP for an application, Capitol One is no different than Chase or Citi or Bank of America. They are fine for most, treat some like second class card holders, and go to the ends of the Earth to work with others.

OP, that's a good card for a second card. The only thing you should look at is if you want to take 3 hard pulls for it. Definitely make sure you have a preapproval on the website first!

Re: Capital One...

AverageJoesCredit — Thu, 12 Sep 2019 11:33:57 GMT

Whats so great about......

Oops my bad, wrong thread

Re: Capital One...

GApeachy — Thu, 12 Sep 2019 11:42:50 GMT

OP, I love Cap1.....I got the credit steps plat. sl $500 last Oct., pc'd to Quick Silver in Jan. (loved the perks) then when it completed the credit steps just like they said it would, I got an extra $250. About a week or two later, I app'd for the Savor and got it with a sl of 5k! My first decent sl. Then I closed the bucketed card. It's a great card, great bank. They let you get your foot in, then you can jump all the way in. Good luck!!

Re: Capital One...

SouthJamaica — Thu, 12 Sep 2019 11:48:57 GMT

@Anonymous wrote:
I know this creditor is looked down on by those with good credit, but is opening a second card with Capital One a good idea? I already have an unsecured capital one with a $500 limit. As of now, it's my only credit card. Well, capital one sent a preapproved invite for the quick silver card. 9 months at 0% and no annual fee. My fico is around 600. Should I take this offer to build my credit? Thanks.

I'm not a Capital One fan, but yes I would definitely go for the Quicksilver. It's a good card.

Re: Capital One...

CreditInspired — Thu, 12 Sep 2019 12:40:39 GMT

@Anonymous wrote:
I know this creditor is looked down on by those with good credit, but is opening a second card with Capital One a good idea? I already have an unsecured capital one with a $500 limit. As of now, it's my only credit card. Well, capital one sent a preapproved invite for the quick silver card. 9 months at 0% and no annual fee. My fico is around 600. Should I take this offer to build my credit? Thanks.

Since you already have an unsecured Cap1, I suggest trying Discover's prequal site and see if you have a preapproval. GL2U

Re: Capital One...

I_Love_Cards — Thu, 12 Sep 2019 19:55:56 GMT

I think Capital One gets some looks because of the triple HP (which isn’t all that much worse than Chase/Citi double HP), “bucketed” cards that may never grow, and somewhat lackluster rewards for their higher tier cards.

On the flip side, Capital One tends to be far more flexible and forgiving of past transgressions than many lenders, and their offerings for rebuilders are not fraught with a zillion fees for breathing or sneezing too close to your credit card. That makes Capital one a better option than many in the subprime market. And rewards of any kind for rebuilders is a huge plus.

Capital One also has PC options, SP CLI, a solid website/app and is very simple, fast and easy with rewards redemption.

A no AF QS1 with a 0% intro period is a solid card and a great option for a rebuilder.

Re: Capital One...

wasCB14 — Thu, 12 Sep 2019 21:20:16 GMT

@I_Love_Cards wrote:
I think Capital One gets some looks because of the triple HP (which isn’t all that much worse than Chase/Citi double HP), “bucketed” cards that may never grow, and somewhat lackluster rewards for their higher tier cards.

On the flip side, Capital One tends to be far more flexible and forgiving of past transgressions than many lenders, and their offerings for rebuilders are not fraught with a zillion fees for breathing or sneezing too close to your credit card. That makes Capital one a better option than many in the subprime market. And rewards of any kind for rebuilders is a huge plus.

Capital One also has PC options, SP CLI, a solid website/app and is very simple, fast and easy with rewards redemption.

A no AF QS1 with a 0% intro period is a solid card and a great option for a rebuilder.

Cap1 may occasionally waive the AF on a QS1, but plain QS is the one that comes with no AF by default (and a bonus).

Re: Capital One...

I_Love_Cards — Thu, 12 Sep 2019 21:25:57 GMT

You are right. I was thinking QS but typed QS1. Regular QS has no AF. My mistake. OP’s offer was for QS not QS1.

Re: Capital One...

FireMedic1 — Fri, 13 Sep 2019 12:35:19 GMT

Stay far away from the QS1. It isnt easy to upgrade or do anything with it. I call it the brick. Then you have to spend too much just to make up for the $39 AF until you start to make a profit.

Re: Capital One...

Anonymous — Sun, 20 Oct 2019 16:52:31 GMT

I just opened a third Capital One account last night. There are some who think that a person can only have 2 CO accounts at a time. I contacted then last night to make sure and you can have up to 5 total from them. I wanted to make sure before I applied for the Savor. I have the QS and Platinum before hand. I have been getting constant denials for CLIs (like plenty of others have on the planet lol) for the past 2 years. As the representative told me, each card has its own unique terms and conditions. Being that I last applied 4 years ago, the card was probably "bracketed" to only go so far as far as increases go.

Good luck!!

Re: Capital One...

marcforza1 — Tue, 22 Oct 2019 21:56:11 GMT

Cap1 is a decent card to have depending on the category that you do a ton of spending on. Other than the 3 HP, the main gripes with them are bucket cards with the inability to upgrade and they can be stingy with CLI. I wouldn't mess with the QS1 because it's basically the QS but with a AF. Whatever Cap1 card that you go with, make sure that you're o.k. with taking that 3 HP hit and also pick a card that you know that you will utilize without the worries of trying to upgrade down the road.