topic Re: What card should I be trying for next? in Credit Cards

What card should I be trying for next?

frankjaeger — Sat, 28 Oct 2023 03:52:16 GMT

I'm 2.75 years out of BK. I burned almost every single company in my BK: chase, capital one, amex, citi, commenity, discover, you name it..

I'm currently sitting around a 710 score with the following open cards (none carry a balance):

Capital One Quicksilver $3,000

Capital One Platinum $3,500

IKEA Store Card $7,700

Target Store Card $700

Home Depot $500

Lowes $1,000

Amazon Store Card $1,700

Best Buy Store Card $3,000

PayPal Mastercard $300

It would appear that I've tried too many times for an Apple Card because I've just been denied solely for "applying too many times." So I'll need to give that "at least 90 days" according to the rep I spoke with.

I also have a Capital One auto loan with a $16,000 balance that I have the funds to pay off, but I haven't yet because I don't want it to drop my score.

I just don't know where to go from here. What cards should I be looking at? Should I just try and get increases on the cards I already have? Should I just do nothing?

Re: What card should I be trying for next?

GZG — Sat, 28 Oct 2023 04:15:07 GMT

@frankjaeger wrote:
Capital One Platinum $3,500

I also have a Capital One auto loan with a $16,000 balance that I have the funds to pay off, but I haven't yet because I don't want it to drop my score.

do you qualify for NFCU?

on desktop, login to your Cap1 account, click into your Platinum card account, and add /productupgrade after the equal sign and see if they would be willing to change you platinum into another quicksilver or a savor one

also what does Cap1 pre-approval tool say if you try it for a Savor One?

https://www.capitalone.com/credit-cards/preapprove/u/?landingPage=savorone

because honestly PPMC (if they ever increase your limit) or Quicksilver + Savor one + store cards is like 85% of the way there for any possible spending you would have.

do you want to pay off the car? what's the interest rate?

if you want a loan for credit score purposes, they have actual good ones from either NFCU or Penfed (if you don't qualify for NFCU) where you can pay it down to 9% and push out future due dates towards the end of the term of the loan. Perfect for FICO scoring.

Re: What card should I be trying for next?

frankjaeger — Sat, 28 Oct 2023 04:22:14 GMT

The /productupgrade works. It says I can choose either a Venture or another Quicksilver. Also, the pre-approval page lists three cards for me: Quicksilver, Venture, and Savor.

My interest rate is 5% on a three year old car with 30,000 miles. I owe about $16,000 but the car is worth $26,000. I just know from previous experience years ago that paying it off could lower my score ~20 points.

Re: What card should I be trying for next?

GZG — Sat, 28 Oct 2023 04:26:26 GMT

@frankjaeger wrote:
The /productupgrade works. It says I can choose either a Venture or another Quicksilver. Also, the pre-approval page lists three cards for me: Quicksilver, Venture, and Savor.

venture with $95 AF or venture one, no AF?

honestly, a savor one (not the $95 savor which would only make sense if you spent $10k on food/year) would be perfect for you with its cash back categories on food, I would consider it

you could keep trying that product upgrade link until they let you turn your platinum into a savor one, or just apply for one. It's the biggest glaring hole in your cash back coverage and there's limited other options to fill that role at least that I can think of off the top of my head.

did the pre-approval say Savor or Savor one? the bonus version or the one "for good credit"?

Re: What card should I be trying for next?

frankjaeger — Sat, 28 Oct 2023 04:29:06 GMT

VentureOne, sorry. Can you combine cards? Like instead of having two Quicksilvers, one with $3,000 and one with $3,500, I can have one with $6,500?

Also the pre-approval was SavorOne

Re: What card should I be trying for next?

GZG — Sat, 28 Oct 2023 04:42:02 GMT

@frankjaeger wrote:
VentureOne, sorry. Can you combine cards? Like instead of having two Quicksilvers, one with $3,000 and one with $3,500, I can have one with $6,500?

Also the pre-approval was SavorOne

you might have an option in your menu somewhere, "I want to..." --> Offers and upgrades

read through that thread linked below

you might be able to move a majority of the limit over and then close the other card, but I'd read through that thread and check your account options to see if that button is there for you, that button may not be there. Your options for moving limits may not be there or approved when you make the request (soft pull).

https://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-Allowing-CL-Reallocations-Again/m-p/6696553

Re: What card should I be trying for next?

frankjaeger — Sat, 28 Oct 2023 04:44:04 GMT

It's there, and I also accepted an offer on the SavorOne. Now the question is do I move everything to the SavorOne or the Quicksilver..

Re: What card should I be trying for next?

GZG — Sat, 28 Oct 2023 04:48:10 GMT

@frankjaeger wrote:
It's there, and I also accepted an offer on the SavorOne. Now the question is do I move everything to the SavorOne or the Quicksilver..

congrats, definitely make a thread!

what are your CL's?

depends on your food spend, but half/half is good, but it will all be based on what Cap1 approves you to move over, they might limit how much you can move over or if you can move any of it over at all

Re: What card should I be trying for next?

frankjaeger — Sat, 28 Oct 2023 04:51:03 GMT

It allowed me to move $3,000 of the $3,500 of the Platinum to the Quicksilver. Quicksilver is now at $6,000, Platinum at $500, and new SavorOne is $2,000.

Re: What card should I be trying for next?

GZG — Sat, 28 Oct 2023 04:54:19 GMT

@frankjaeger wrote:
It allowed me to move $3,000 of the $3,500 of the Platinum to the Quicksilver. Quicksilver is now at $6,000, Platinum at $500, and new SavorOne is $2,000.

at this point I would close out the Platinum and make room for a Walmart card if you shop at walmart at some point in the future.

or if not, you can just leave it open since it's $0 AF

congrats!!

free uber one membership and 10% off uber thru most of 2024 if you're an uber customer

Re: What card should I be trying for next?

frankjaeger — Sat, 28 Oct 2023 04:56:59 GMT

Thank you! I appreciate all the help and advice.

Re: What card should I be trying for next?

NoMoreE46 — Sat, 28 Oct 2023 14:18:35 GMT

@frankjaeger wrote:
I'm 2.75 years out of BK. I burned almost every single company in my BK: chase, capital one, amex, citi, commenity, discover, you name it..

I'm currently sitting around a 710 score with the following open cards (none carry a balance):
Capital One Quicksilver $3,000
Capital One Platinum $3,500
IKEA Store Card $7,700
Target Store Card $700
Home Depot $500
Lowes $1,000
Amazon Store Card $1,700
Best Buy Store Card $3,000
PayPal Mastercard $300

It would appear that I've tried too many times for an Apple Card because I've just been denied solely for "applying too many times." So I'll need to give that "at least 90 days" according to the rep I spoke with.

I also have a Capital One auto loan with a $16,000 balance that I have the funds to pay off, but I haven't yet because I don't want it to drop my score.

I just don't know where to go from here. What cards should I be looking at? Should I just try and get increases on the cards I already have? Should I just do nothing?

You got some excellent tips on your Capital One from @GZG !

Fyi, one cannot request a cli from Target.

Best Buy and HD are managed by Citi while Lowes, Amazon Store and PP are by Synchrony.

I would ask for a cli on one of the Synchronies and or which ever card you use most.)

Re: What card should I be trying for next?

MikeyMagic — Sat, 28 Oct 2023 15:16:25 GMT

@frankjaeger wrote:
I'm 2.75 years out of BK. I burned almost every single company in my BK: chase, capital one, amex, citi, commenity, discover, you name it..

I'm currently sitting around a 710 score with the following open cards (none carry a balance):
Capital One Quicksilver $3,000
Capital One Platinum $3,500
IKEA Store Card $7,700
Target Store Card $700
Home Depot $500
Lowes $1,000
Amazon Store Card $1,700
Best Buy Store Card $3,000
PayPal Mastercard $300

It would appear that I've tried too many times for an Apple Card because I've just been denied solely for "applying too many times." So I'll need to give that "at least 90 days" according to the rep I spoke with.

I also have a Capital One auto loan with a $16,000 balance that I have the funds to pay off, but I haven't yet because I don't want it to drop my score.

I just don't know where to go from here. What cards should I be looking at? Should I just try and get increases on the cards I already have? Should I just do nothing?

I mean this with the utmost respect but seriously, do you really need more cards right now? Seems you have plenty.

Re: What card should I be trying for next?

frankjaeger — Sat, 28 Oct 2023 15:39:13 GMT

Does anyone need more cards? Do people on here that have cards with $60,000 limits need that? Does my grandma need 30+ credit cards for every single store when she doesn't use any of them?

The question was more along the lines of "what's the next step in my credit rebuilding journey?" and not really "I NEED MORE CARDS NOW!"

I have those cards, I have an auto loan, I don't need a personal loan for anything. If I did, I would jut pay it off right away. Just curious on the best way to keep this growing and keeping my score increasing.

Re: What card should I be trying for next?

MikeyMagic — Sat, 28 Oct 2023 15:54:22 GMT

@frankjaeger wrote:
Does anyone need more cards? Do people on here that have cards with $60,000 limits need that? Does my grandma need 30+ credit cards for every single store when she doesn't use any of them?

The question was more along the lines of "what's the next step in my credit rebuilding journey?" and not really "I NEED MORE CARDS NOW!"

I have those cards, I have an auto loan, I don't need a personal loan for anything. If I did, I would jut pay it off right away. Just curious on the best way to keep this growing and keeping my score increasing.

Haha I get it. I think it's more jealousy than anything because I'm just starting out and can pretty much only get Secured Cards and a Cap1 $300 CL Unsecured Platinum Mastercard lol. So I feel ya. I can't wait for the day that I will have all those pre-approvals and the ability to have 10-20 cards.

Re: What card should I be trying for next?

Rogue46 — Sat, 28 Oct 2023 16:53:00 GMT

Concerning the auto loan yes if you paid it off you would lose points but you said you had the funds so why not just pay it down to under 10% which would give you a score bump and still have a loan showing on your report

The cards you have are enough to keep building credit, Adding more really wouldn't help you at this point. I would sit on those and use them and ask for increases from time to time.

Re: What card should I be trying for next?

JoeRockhead — Sat, 28 Oct 2023 16:47:37 GMT

@frankjaeger wrote:
Does anyone need more cards? Do people on here that have cards with $60,000 limits need that? Does my grandma need 30+ credit cards for every single store when she doesn't use any of them?

The question was more along the lines of "what's the next step in my credit rebuilding journey?" and not really "I NEED MORE CARDS NOW!"

I have those cards, I have an auto loan, I don't need a personal loan for anything. If I did, I would jut pay it off right away. Just curious on the best way to keep this growing and keeping my score increasing.

The most beneficial thing you can do is garden. Focus on what you have by taking care of them and seeking out CLIs where they'll allow. Time, proper usage and on time payment history are the things that will help your scores the most. Try to keep your reporting aggregate balances under 5%. Keep any one card from reporting anything over 9% usage. Maybe consider practicing AZEO or AZE2 (if you're not already). The other thing that will get you a boost in scores is when your loan gets paid down to 9%.

Just as a general caution, I wouldn't recommend adding any more cards at this point. More doesn't equate to better and that practice will start working against you and your scores, especially with the likes of Experian for example, who can hit you with lower scores being they can be more sensitive than the other two agencies when it comes to new accounts and inquiries. Just my 2¢

Re: What card should I be trying for next?

NoMoreE46 — Sat, 28 Oct 2023 18:46:20 GMT

@MikeyMagic wrote:
@frankjaeger wrote:
Does anyone need more cards? Do people on here that have cards with $60,000 limits need that? Does my grandma need 30+ credit cards for every single store when she doesn't use any of them?

The question was more along the lines of "what's the next step in my credit rebuilding journey?" and not really "I NEED MORE CARDS NOW!"

I have those cards, I have an auto loan, I don't need a personal loan for anything. If I did, I would jut pay it off right away. Just curious on the best way to keep this growing and keeping my score increasing.
Haha I get it. I think it's more jealousy than anything because I'm just starting out and can pretty much only get Secured Cards and a Cap1 $300 CL Unsecured Platinum Mastercard lol. So I feel ya. I can't wait for the day that I will have all those pre-approvals and the ability to have 10-20 cards.

As an aside, yep, there is plenty of room for envy 😝 .

Some collect cards as a hobby/sport. We have users with:

• four or five super cars

• CL of $99,900 on 1 card

• TCL exceeding $2M

None of the above make me envious- well, maybe the super cars do.

I have about 23 cards. There a few more on my Wish-list for certain spend categories. To each their own.