topic Re: Capital one - should I accept pre approved quicksilver or cold app for venture / Savor in Credit Cards

Capital one - should I accept pre approved quicksilver or cold app for venture / Savor

Anonymous — Mon, 30 Nov 2020 08:34:50 GMT

I'm posting this one for my girlfriend who has been slowly working on her credit. She recently got approved for her first real CC. She had one before with her bank 5yrs ago but it was closed and sent to collections. She is an authorized user on a few of my cards ( 2 Capital one cards , Discover , and a VS store card.

So about 8-9 months ago she had a credit score below 600. I told her to take a chance with Capital one and see what happens. They were surprisley generous and offered her a 2k credit line. Within 6 months she got a auto increase to $2500. That brings us to today about 8 1/2 months since opening the platinum card with Capital one. She's ready to make her next move. Credit scores are all in the low 600s. Between 600-610. I still don't think she will get approved for someone like discover and that doesn't leave to many other options for someone in her score range.

This week Capital one sent out a mailer that said she was pre qualified for the regular quicksilver card. We are trying to decide these two things. If we should accept the pre qualified quicksilver offer and app for it OR shoot a bit higher and app for the venture / Savor one card since she has built some history with Capital one and she can utilize the perks on each one of those cards.

The other question is what are the chances the second card she gets with Capital one regardless if it's the quicksilver or savor /venture one that the limit will be higher on the second card?

Also generally does the quicksilver have a lower max credit limit then the others? Or pretty comparable ?

ps - also if there's any other cards you suggest we look at that she might have a chance on let me know. I know chase and Amex are most likely out of the option so not sure what that leaves us with that are still decent cards and not predatory ones like credit one. Please chime in.

Thanks for any help - You all are great!

Re: Capital one - should I accept pre approved quicksilver or cold app for venture / Savor

Anonymous — Mon, 30 Nov 2020 08:43:27 GMT

Edit ( didn't wanna edit the original post to many times and get it flagged )

The quicksilver offer was pre approved NOT pre qualified. They sent the offer to her email directly.

Re: Capital one - should I accept pre approved quicksilver or cold app for venture / Savor

Ficoproblems247 — Mon, 30 Nov 2020 13:47:51 GMT

I wouldn't put all my eggs in the Cap1 basket. You say you don't think she would be approved for Disco, but has she tried the prequal request from them? It's pretty solid generally. I would try and see how that comes back, even if she has to go the secured route, that card can graduate in as low as 7 months. If she's preapproved for QS, she would likely be able to get at least a Savor1/Ven1, but maybe not the full Venture or Savor versions. There is no way to really tell unless you pull the trigger and take the notorious Cap1 3 HPs. You never know, Cap1 can be super relationship oriented sometimes and grant generous approvals for 2nd cards with current responsible cardholders. Savor is decent if you spend more than $9,500/yr on dining and entertainment, otherwise Savor1 is a better value. Venture is a pretty poor rewards card considering the $95 AF for a flat 2% card essentially. If she is looking to get to 3 revolvers, I would honestly try Disco (even the secured route), and a local CU possibly. I don't have a ton on info on NFCU, but everyone around here recommends them, too.

Re: Capital one - should I accept pre approved quicksilver or cold app for venture / Savor

Iusedtolurk — Mon, 30 Nov 2020 21:36:00 GMT

@Anonymous wrote:
I'm posting this one for my girlfriend who has been slowly working on her credit. She recently got approved for her first real CC. She had one before with her bank 5yrs ago but it was closed and sent to collections. She is an authorized user on a few of my cards ( 2 Capital one cards , Discover , and a VS store card.

So about 8-9 months ago she had a credit score below 600. I told her to take a chance with Capital one and see what happens. They were surprisley generous and offered her a 2k credit line. Within 6 months she got a auto increase to $2500. That brings us to today about 8 1/2 months since opening the platinum card with Capital one. She's ready to make her next move. Credit scores are all in the low 600s. Between 600-610. I still don't think she will get approved for someone like discover and that doesn't leave to many other options for someone in her score range.

This week Capital one sent out a mailer that said she was pre qualified for the regular quicksilver card. We are trying to decide these two things. If we should accept the pre qualified quicksilver offer and app for it OR shoot a bit higher and app for the venture / Savor one card since she has built some history with Capital one and she can utilize the perks on each one of those cards.

The other question is what are the chances the second card she gets with Capital one regardless if it's the quicksilver or savor /venture one that the limit will be higher on the second card?

Also generally does the quicksilver have a lower max credit limit then the others? Or pretty comparable ?

ps - also if there's any other cards you suggest we look at that she might have a chance on let me know. I know chase and Amex are most likely out of the option so not sure what that leaves us with that are still decent cards and not predatory ones like credit one. Please chime in.

Thanks for any help - You all are great!

If it was me.....A bird in the hand is worth 2 in the bush.

Which means I would take the pre-approval since it's early in the credit journey not wanting to risk 3 wasted hps (shuddering) if denied for the savor/venture.

BUT I would try the Disco pre-approval before taking the leap with cap1.

If approved for Disco secured or unsecured (they like thin files and trying the pre-approval doesn't hurt because it's a soft pull) I would make that my second card and look for it to unsecure in 7 months if secured was granted.

3 cards are usually agreed on around here as the perfect number so I would get one of the easier store cards as the 3rd card.

If Disco not pre-approved I would then go for the solid Cap1 and add the 3rd card (easy store card).

Good luck and let us know the outcome.

Re: Capital one - should I accept pre approved quicksilver or cold app for venture / Savor

Anonymous — Mon, 30 Nov 2020 22:37:38 GMT

Thank you for the advice much appreciated - yeah the 3 hard pulls really isn't very attractive with Capital one.

She has done the pre approval for Discover and they offer her a secured card with them. I have one that started as secured and took almost 3 yrs to unsecure recently but they are great company and for secured cards I'd say there one of the best since capital ones secured cards don't graduate anymore.

just trying to weigh the options , since I figure that she already has one unsecured card with Capital one with a somewhat decent starting limit for someone with her credit score when she applied , if it would make sense to go somewhat backwards and now apply for a secured card. Or take the Capital one offer to get another card under her belt , pair it with a store card and use those three for the next 6-12 months or so and then app for Discover once she has some more history and cards in her name. We are both much to indisicive lol

Re: Capital one - should I accept pre approved quicksilver or cold app for venture / Savor

Anonymous — Mon, 30 Nov 2020 22:41:11 GMT

Thanks for the help ! She is pre approved for a Discover secured card. But just been going back and fourth if it makes sense to go with a secured card now that she's already been approved for a unsecured card and showed almost a year of responsible use. Discover is a great company , I started with a secured card with them that took about 3yrs to unsecure due to one late payment ( totally understandable ) just can't decide what way to go so all of your advice helps a lot. The 3 hard pulls are really a turn off with Capital one. And with Discover I'm not sure if she should take the risk apping for a unsecured card with them at this point or take the pre approval for secured. If by chance she went for the unsecured and got denied , can Discover then offer her the secured card if she called in the same day to avoid any further hard pulls ?

Question about Discover secured card and them using the same hard pull

Anonymous — Mon, 30 Nov 2020 22:50:00 GMT

Does anyone know if say my girlfriend was pre approved for a Discover secured card , and she decided to take a chance and app for the unsecured card , worst case scenario she is denied.

Can you call in the same day and have them use the same hard pull from the app for the unsecured card that you were denied on and have them use it and offer you the secured version without needing to do another pull?

She currently has one credit card with Capital one that's unsecured for $2500 with almost a year of history on it. 1% utilization , a credit builders account , and one charge off from 5yrs ago.

she was offering a second Capital one quicksilver card through a pre approval that was sent to her email recently. We are trying to decide if she should take that pre approved offer for the quicksilver , or cold app for a venture one or saver one card. Or avoid Capital one again all together since the 3 hard pulls are not fun to get , and just take a chance with Discover that's she's pre approved for secured or cold app for the non secured and hope if not approved they would give her the secured off the same pull?

Anyone have experience with a situation like this or advice ?

Re: Question about Discover secured card and them using the same hard pull

Anonymous — Mon, 30 Nov 2020 22:59:26 GMT

Unlikely

They wouldn't budge when I asked to remove an inquiry when their sole reason for denial was I opened an account with them already in the last year

Re: Capital one - should I accept pre approved quicksilver or cold app for venture / Savor

Iusedtolurk — Mon, 30 Nov 2020 23:32:36 GMT

@Anonymous wrote:
Thanks for the help ! She is pre approved for a Discover secured card. But just been going back and fourth if it makes sense to go with a secured card now that she's already been approved for a unsecured card and showed almost a year of responsible use. Discover is a great company , I started with a secured card with them that took about 3yrs to unsecure due to one late payment ( totally understandable ) just can't decide what way to go so all of your advice helps a lot. The 3 hard pulls are really a turn off with Capital one. And with Discover I'm not sure if she should take the risk apping for a unsecured card with them at this point or take the pre approval for secured. If by chance she went for the unsecured and got denied , can Discover then offer her the secured card if she called in the same day to avoid any further hard pulls ?

If it was me and starting off on rebuilding credit I would only deal with the pretty safe bets. I would go ahead and give the secured disco an app. No sense in getting a hp denial on the unsecured and then taking the chance on another hp for the secured. Even though hps don't hurt you much they stay on your credit for 2 years and during those 2 years if the credit is getting better then opportunities for more credit arises.

Before you know it you have a number of inquiries and some credit card issuers are indeed Inquiry Sensitive and will denied you if your number of inquiries don't meet their criteria. Then you wind up with more inquiries that are for denials instead of approvals.

Increasing you credit score takes time, patience and following the written and unwritten rules but pays off majorly in the end.

Re: Question about Discover secured card and them using the same hard pull

FinStar — Tue, 01 Dec 2020 00:14:42 GMT

@Anonymous wrote:
Does anyone know if say my girlfriend was pre approved for a Discover secured card , and she decided to take a chance and app for the unsecured card , worst case scenario she is denied.

Can you call in the same day and have them use the same hard pull from the app for the unsecured card that you were denied on and have them use it and offer you the secured version without needing to do another pull?

Anyone have experience with a situation like this or advice ?

Short answer - no.

Re: Capital one - should I accept pre approved quicksilver or cold app for venture / Savor

Remedios — Tue, 01 Dec 2020 00:38:27 GMT

@Anonymous wrote:
Thank you for the advice much appreciated - yeah the 3 hard pulls really isn't very attractive with Capital one.

She has done the pre approval for Discover and they offer her a secured card with them. I have one that started as secured and took almost 3 yrs to unsecure recently but they are great company and for secured cards I'd say there one of the best since capital ones secured cards don't graduate anymore.

just trying to weigh the options , since I figure that she already has one unsecured card with Capital one with a somewhat decent starting limit for someone with her credit score when she applied , if it would make sense to go somewhat backwards and now apply for a secured card. Or take the Capital one offer to get another card under her belt , pair it with a store card and use those three for the next 6-12 months or so and then app for Discover once she has some more history and cards in her name. We are both much to indisicive lol

You said her scores are now 610. Secured Discover is not a step backwards in her case.

I think her Cap One approval is slightly confusing you. They will approve people with poor credit since they typically don't have that many options. That in return ensures their cards get used, for a while at least.

If she's not interested in secured cards, she can try PC from Platinum to QS and wait for her scores to improve significantly enough to where she has a chance of approval for unsecured credit lines.

If she was to apply for QS, she will have three HPs from Platinum card that's now useless since no rewards, 3 additional HPs for 1.5% cash back card that she will be over rather quickly, too.

Re: Capital one - should I accept pre approved quicksilver or cold app for venture / Savor

Anonymous — Tue, 01 Dec 2020 02:03:23 GMT

@Anonymous wrote:
I'm posting this one for my girlfriend who has been slowly working on her credit. She recently got approved for her first real CC. She had one before with her bank 5yrs ago but it was closed and sent to collections. She is an authorized user on a few of my cards ( 2 Capital one cards , Discover , and a VS store card.

So about 8-9 months ago she had a credit score below 600. I told her to take a chance with Capital one and see what happens. They were surprisley generous and offered her a 2k credit line. Within 6 months she got a auto increase to $2500. That brings us to today about 8 1/2 months since opening the platinum card with Capital one. She's ready to make her next move. Credit scores are all in the low 600s. Between 600-610. I still don't think she will get approved for someone like discover and that doesn't leave to many other options for someone in her score range.

This week Capital one sent out a mailer that said she was pre qualified for the regular quicksilver card. We are trying to decide these two things. If we should accept the pre qualified quicksilver offer and app for it OR shoot a bit higher and app for the venture / Savor one card since she has built some history with Capital one and she can utilize the perks on each one of those cards.

The other question is what are the chances the second card she gets with Capital one regardless if it's the quicksilver or savor /venture one that the limit will be higher on the second card?

Also generally does the quicksilver have a lower max credit limit then the others? Or pretty comparable ?

ps - also if there's any other cards you suggest we look at that she might have a chance on let me know. I know chase and Amex are most likely out of the option so not sure what that leaves us with that are still decent cards and not predatory ones like credit one. Please chime in.

Thanks for any help - You all are great!

Honestly, in the low 600s, I really do not think she is going to get much in terms of a great card or high SL at this point.

Is she allowing high balances to report? Is there something besides that 1 CA that is holding her scores down? Are you letting high balances report, since all those AU accounts are part of her scoring?

I would take the discover secured. It may have taken 3 years for yours to graduate for various reasons. If you treat it right and do not make a late payment, go over the limit, and keep at it, most people graduate around the 7 month mark. I really do not think she will be approved for an unsecured. Cap One is entry level and most people can get one with very low scores, I would not use that as basis for apps with other creditors. She will get their lower end products in another card with Cap One: another Plat or a QS lower level "good" version or QS1 (that has AF and very difficult to PC).

All said and done, I would take the disco secured and treat it right. You can PC the Cap One platinum to a QS (not the QS 1 with AF) so she can get the 1.5% CB without a whole new account. I would not get an easy store card (think SCT/Comenity)- I know many (including myself) have serious regrets getting one (or more). I would address what is holding scores down and look into AZEO to pretty up scores before apps to get better products/SLs and after Disco secures, she can get her 3rd and hopefully much better card.

Good luck!

Looking for advice - take pre approval for quicksilver or cold app for second card

Anonymous — Mon, 07 Dec 2020 10:33:09 GMT

So my girlfriend has been building her credit. She doesn't have much on her profile right now besides one Capital one platinum they gave her almost a year ago. 3000$ limit she got it when she was in the 500s for a credit score. I was honestly surprised.

it's now been about a year with the card but she doesn't pre qualify else where besides with discover for a secured. She recently got an email that is offering a pre approval for the quicksilver.

We are trying to decide if she should take that pre approval or if she would have a pretty good chance cold

Apping for the Venture one or Savor one card. Do you think she would have a shot at those ? Also are those two cards generally higher limits then the quicksilver ? And is Capital one usually prone to give your second caed with them a higher or lower limit then the first? Also if by chance she cold apped for the venture or savor and was denied , can they use the same hard pull for the quicksilver that she's pre approved for ?

Really hoping some of you can give a bit of insight so we make the right decision for her. It sucks with Capital one you have to burn 3 hard pulls but right now I don't feel like she has much of a shot else where besides going with a secured discover. She's just creep over 600. Figured we would take a second card since she has a relationship with Cap 1 and use those two for the next 6-12 months then app with someone like discover or Amex when her score climbs a bit more. Right now she just doesn't have enough things reporting with such a thin credit file.

Any comments are appreciated !

Re: Looking for advice - take pre approval for quicksilver or cold app for second card

Anonymous — Mon, 07 Dec 2020 09:38:39 GMT

With that credit score I would definitely accept the offer. It could be higher or it could be lower than the first one, it's hard to tell, but it's another account that will build up positive history which only helps the score in the long run and assuming it's the regular QS with no AF, it's a pretty decent starter cash back card.

I would not try the Savor One or Venture One with that low of a score personally.

Re: Looking for advice - take pre approval for quicksilver or cold app for second card

Anonymous — Mon, 07 Dec 2020 10:15:23 GMT

If admins think this would be better suited in the credit card sub , feel free to move it. Wasn't sure where is best to post.

Re: Looking for advice - take pre approval for quicksilver or cold app for second card

Anonymous — Mon, 07 Dec 2020 10:15:43 GMT

Thank you - appreciate the advice

Re: Looking for advice - take pre approval for quicksilver or cold app for second card

Ficoproblems247 — Mon, 07 Dec 2020 11:41:50 GMT

@Anonymous wrote:
If admins think this would be better suited in the credit card sub , feel free to move it. Wasn't sure where is best to post.

They'll probably merge it with your other thread from 11/30 that's exactly the same as this one.

Re: Looking for advice - take pre approval for quicksilver or cold app for second card

GApeachy — Mon, 07 Dec 2020 12:58:20 GMT

Try these if y'all haven't already:

SP preapprovals which will show you which cb they pull-

https://ficoforums.myfico.com/t5/General-Credit-Topics/List-of-Soft-pull-PREAPPROVALs-Updated-11-29-20/m-p/5938753#M293595

Know which scores are pulled with certain banks-

https://ficoforums.myfico.com/t5/General-Credit-Topics/The-quot-Which-Banks-Pull-Which-Report-For-Apps-quot-list/m-p/5542910#M276042

Re: Looking for advice - take pre approval for quicksilver or cold app for second card

GApeachy — Mon, 07 Dec 2020 13:01:05 GMT

Also, to save her HP's you could add her to your cc's and see if she gets a boost as an AU. I did this with my children and it helped a lot. Then they were approved with scores in the 700's...all from piggybacking off of dh and myself.

Re: Looking for advice - take pre approval for quicksilver or cold app for second card

FinStar — Mon, 07 Dec 2020 17:34:19 GMT

@Anonymous,

Two threads on the same subject have been merged into one. Please refrain from cross-posting or posting multiple threads on the same topic in different forums as it is against our Terms of Service and it can lead to confusion by the members. Thank you for your understanding on this.