topic Re: Should I go for Chase Freedom and Capital One Quicksilver? in Credit Cards

Should I go for Chase Freedom and Capital One Quicksilver?

Anonymous — Sat, 30 Nov 2013 16:25:26 GMT

Hi, 2nd day on this amazing forum. I learned a lot on my first day. I really want to apply for 2 new cash rewards cards (chase freedom and capital one quicksilver) but I want to realistically know my chances. Ya'll are pretty smart on this board and I need your help. Id hate to use a hard pull and get nothing out of it... Here's some background info..

Im 21 years old, EX=746 EQ=764 TU=768, all infro is from myfico and I have had exactly one inquiry on each score in the past year.

I am an AU for 4.5 years on a BOA card with a 4500$ limit and just got my own BOA CC in aug 2013 for a $1500 limit (initially 700$ but got a CLI on nov 22 2013). So my credit limit is $6000.

I make my payments via mobile almost daily to keep my utilization low. Its usually <1%-5%. And I usually put about $500-$800 on my card each month. My AAoA is 2 years with my longest being my AU at 4.5 years. I never missed a payment, I have zero bad things on my credit report, I always pay in full and on time (usually early).

Several nice users recommended that I apply for some more credit cards, which I would like to do. They said do them at the same time so the hardpulls all go away at the same time (in 2 years) and my AAoA grows at the same time. I like this idea.

Do you think I have a high enough chance of getting accepted for both cards if I apply tomorrow? Or should I wait several months? Any other recommendations?

Thanks Yall!

Re: Should I go for Chase Freedom and Capital One Quicksilver?

Swapmeet — Sat, 30 Nov 2013 16:47:11 GMT

You will probably be approved for both. When you get them, garden for a while and get your AAoA up a little before applying for amex and discover (if you want, though you could probably get most of them now if you wanted, then garden for a year and let them grow).

Re: Should I go for Chase Freedom and Capital One Quicksilver?

Anonymous — Sat, 30 Nov 2013 16:50:26 GMT

i would be real surprised if you got denied for either. I wouldn't recommend a Cap1 card though. It serves a purpose..and your scores already exceed that purpose. I would look at higher tier cards that you can easily get approved for.

Re: Should I go for Chase Freedom and Capital One Quicksilver?

Anonymous — Sat, 30 Nov 2013 16:54:01 GMT

What are some higher tier cards I should go for? I dont care for traveling miles, and I don't really care for low interest since I don't buy anything I don't already have the money for. Maybe in the future Ill need a low interest card, but by then my credit score will be so high that it wont be a problem to apply for the best one. The quicksilver has 1.5% cash back on everything so thats better than my 1% on my bank of america cash rewards cards..

If I do get approved for my cards how should I got about asking for a credit limit increase? Is their anyway to do it without a hard pull?

Thanks yall for the replys!

Re: Should I go for Chase Freedom and Capital One Quicksilver?

Anonymous — Sat, 30 Nov 2013 16:55:30 GMT

Also the chase freedom comes with a 200$ cashback deal and the capital one quicksilver comes with a 100$ cash back deal if I spend 500 in the first three months (which I already do without changing spending habits)... So its like a free 300$

Re: Should I go for Chase Freedom and Capital One Quicksilver?

Swapmeet — Sat, 30 Nov 2013 16:57:40 GMT

@Anonymous wrote:
What are some higher tier cards I should go for? I dont care for traveling miles, and I don't really care for low interest since I don't buy anything I don't already have the money for. Maybe in the future Ill need a low interest card, but by then my credit score will be so high that it wont be a problem to apply for the best one. The quicksilver has 1.5% cash back on everything so thats better than my 1% on my bank of america cash rewards cards..

If I do get approved for my cards how should I got about asking for a credit limit increase? Is their anyway to do it without a hard pull?

Thanks yall for the replys!

If I were you, I would apply for the Freedom, BCE, Discover it, and quicksilver. That would be a solid mix of high tier cards--save for the qs, but 1.5% on everything is nice...I am tossing around the idea of apping for that one in my Feb app spree.

Re: Should I go for Chase Freedom and Capital One Quicksilver?

Anonymous — Sat, 30 Nov 2013 17:02:19 GMT

What ever high-tier means (proxy for "prime"?) I think that the QS is at least as high tier as Freedom, and probably more valuable for many.

Re: Should I go for Chase Freedom and Capital One Quicksilver?

Swapmeet — Sat, 30 Nov 2013 17:15:08 GMT

@Anonymous wrote:
What ever high-tier means (proxy for "prime"?) I think that the QS is at least as high tier as Freedom, and probably more valuable for many.

I hear ya LTL.... I was on the fence about making the comment about the possibility of the QS not necessarily being a high tier/prime card. The only thing that caused me to add that line in was the fact that people get approved for it with high-mid 600's fico scores....I actually believe that I read somewhere that there are two different versions of the QS--but don't quote me on that, because I don't know for sure.

Re: Should I go for Chase Freedom and Capital One Quicksilver?

Creditaddict — Sat, 30 Nov 2013 17:24:12 GMT

@Swapmeet wrote:
@Anonymous wrote:
What are some higher tier cards I should go for? I dont care for traveling miles, and I don't really care for low interest since I don't buy anything I don't already have the money for. Maybe in the future Ill need a low interest card, but by then my credit score will be so high that it wont be a problem to apply for the best one. The quicksilver has 1.5% cash back on everything so thats better than my 1% on my bank of america cash rewards cards..

If I do get approved for my cards how should I got about asking for a credit limit increase? Is their anyway to do it without a hard pull?

Thanks yall for the replys!
If I were you, I would apply for the Freedom, BCE, Discover it, and quicksilver. That would be a solid mix of high tier cards--save for the qs, but 1.5% on everything is nice...I am tossing around the idea of apping for that one in my Feb app spree.

I would get BCP not BCE but this would be my suggested line up too... but for sure the Cap1 and Chase Freedom are great starters for you to do first.

Re: Should I go for Chase Freedom and Capital One Quicksilver?

Anonymous — Sat, 30 Nov 2013 17:27:04 GMT

I too recommend a blue cash and IT. If you do go Amex make sure you use cards match to get the best sign up bonus.

Re: Should I go for Chase Freedom and Capital One Quicksilver?

Creditaddict — Sat, 30 Nov 2013 17:29:04 GMT

@Anonymous wrote:
I too recommend a blue cash and IT. If you do go Amex make sure you use cards match to get the best sign up bonus.

he tried it yesterday and did not get matched.

he is also not getting pre-qual at cap1.

I think the fab scores are being shuttered by the very thin file so I still agree he will probably get approved for all the cards but will just have to cold app them all and that's why I think it's proof even more that it needs to be done!

Re: Should I go for Chase Freedom and Capital One Quicksilver?

Creditaddict — Sat, 30 Nov 2013 17:29:30 GMT

@Creditaddict wrote:
@Anonymous wrote:
I too recommend a blue cash and IT. If you do go Amex make sure you use cards match to get the best sign up bonus.
he tried it yesterday and did not get matched.
he is also not getting pre-qual at cap1.
I think the fab scores are being shuttered by the very thin file so I still agree he will probably get approved for all the cards but will just have to cold app them all and that's why I think it's proof even more that it needs to be done!

or she... sorry op depending

Re: Should I go for Chase Freedom and Capital One Quicksilver?

Swapmeet — Sat, 30 Nov 2013 17:30:56 GMT

@Creditaddict wrote:
@Swapmeet wrote:
@Anonymous wrote:
What are some higher tier cards I should go for? I dont care for traveling miles, and I don't really care for low interest since I don't buy anything I don't already have the money for. Maybe in the future Ill need a low interest card, but by then my credit score will be so high that it wont be a problem to apply for the best one. The quicksilver has 1.5% cash back on everything so thats better than my 1% on my bank of america cash rewards cards..

If I do get approved for my cards how should I got about asking for a credit limit increase? Is their anyway to do it without a hard pull?

Thanks yall for the replys!
If I were you, I would apply for the Freedom, BCE, Discover it, and quicksilver. That would be a solid mix of high tier cards--save for the qs, but 1.5% on everything is nice...I am tossing around the idea of apping for that one in my Feb app spree.
I would get BCP not BCE but this would be my suggested line up too... but for sure the Cap1 and Chase Freedom are great starters for you to do first.

You are right CA. I wish that I would have gotten the BCP instead of my BCE, but I figured that the lack of an AF would be better for a young man who is just starting out.

Re: Should I go for Chase Freedom and Capital One Quicksilver?

Anonymous — Sat, 30 Nov 2013 17:55:20 GMT

I suggest starting with the Amex BCP. Wait the 61 days and ask for a 3x CLI. Once the new credit line hits your reports, apply for the Freedom and the Discover IT cards.

Re: Should I go for Chase Freedom and Capital One Quicksilver?

Swapmeet — Sat, 30 Nov 2013 18:15:31 GMT

@Anonymous wrote:
I suggest starting with the Amex BCP. Wait the 61 days and ask for a 3x CLI. Once the new credit line hits your reports, apply for the Freedom and the Discover IT cards.

The only problem with this is that when it hits, it will lower an already thin AAoA--which is why I think that they should all be done at once. Then garden while taking andvantage of SP CLI where you can.

Re: Should I go for Chase Freedom and Capital One Quicksilver?

Anonymous — Sat, 30 Nov 2013 18:30:16 GMT

There are two versions of the Quicksilver (a Visa one with no AF and the MC version which is Quicksilver One and has a $39 AF which the EO can waive).

Re: Should I go for Chase Freedom and Capital One Quicksilver?

H4LO — Sat, 30 Nov 2013 18:53:14 GMT

@Anonymous wrote:
There are two versions of the Quicksilver (a Visa one with no AF and the MC version which is Quicksilver One and has a $39 AF which the EO can waive).

One requires very good credit, and the other doesn't. Ask me how I know... Denied the QuickSilver but the EO took care of me.

Re: Should I go for Chase Freedom and Capital One Quicksilver?

Anonymous — Sun, 01 Dec 2013 04:08:56 GMT

So is it safe to assume there is a very high chance I get approved for the quicksilver and chase freedom? When I apply online, how soon could I know if I'm accepted?

Re: Should I go for Chase Freedom and Capital One Quicksilver?

Creditaddict — Sun, 01 Dec 2013 04:47:51 GMT

Instant on capital one and possible instant with chase or call Monday for follow up on app.

Re: Should I go for Chase Freedom and Capital One Quicksilver?

Anonymous — Sun, 01 Dec 2013 05:56:53 GMT

Ironically got instantly approved for $2500 for chase freedom and capital one said "7-10 days" until I find out... Do you still think I should get a costco american express before my 1.5 year gardening?