topic What do you think? in Credit Cards

What do you think?

whydoineedaname — Mon, 07 Apr 2014 23:15:18 GMT

I am thinking of picking up one more card then I need to let things settle...

Right now I have the cards that are in my signature and... My numbers should be set.

I keep getting Pre-approved for the Capital One Platinum Master card:

No annual fee

0% untill january 22.9% after that

After 5 on time payments auto CLI

What do you think, Go or no go?

My second thought was to let things sit for a bit and then try for a nicer card but... Not sure how quick my score will go up.

Re: What do you think?

Revelate — Mon, 07 Apr 2014 23:20:27 GMT

It's a tradeline farm.

Frankly you already have a better card in the Discover IT, I wouldn't continue adding tradelines right now (and didn't when I was in your position); I'd wait till I could obtain the next higher tier of cards.

ETA: if it was the $0 AF Quicksilver then absolutely I'd be taking it .

Re: What do you think?

Creditaddict — Mon, 07 Apr 2014 23:46:57 GMT

I agree I would try the pre-qual online and see if you can get offer for Capital One Quicksilver and might take that otherwise I would wait right now and get something better in a bit.

Re: What do you think?

zsepthenne — Tue, 08 Apr 2014 00:05:17 GMT

@whydoineedaname wrote:
I am thinking of picking up one more card then I need to let things settle...

Right now I have the cards that are in my signature and... My numbers should be set.

I keep getting Pre-approved for the Capital One Platinum Master card:
No annual fee
0% untill january 22.9% after that
After 5 on time payments auto CLI

What do you think, Go or no go?

My second thought was to let things sit for a bit and then try for a nicer card but... Not sure how quick my score will go up.

It might hurt but I'd wait it out. You can see the progression of my score over 5-6 months of gardening with low utilization.

Re: What do you think?

Anonymous — Tue, 08 Apr 2014 00:10:00 GMT

What would be your reasons to apply for a Cap One?

Probably you don't need it, you can garden, PIF each month, report <10% util and be 700+ in a few months. And then, go and get a better card, with a nicer issuer and nicer rewards. I know it's difficult to be patient, but that's the way to go

Re: What do you think?

whydoineedaname — Tue, 08 Apr 2014 00:20:56 GMT

Mostly my reason to apply would be to have several different accounts on my report. More avaliable credit.

I need to go silent on my credit in preperation for buying a home. We are looking at about 14 months for now. We need to make sure our BK7 is 2 years out and the people at the bank said not to have any applications for credit within a year and make sure accounts are over a year old to make any difference.

Re: What do you think?

whydoineedaname — Tue, 08 Apr 2014 00:23:32 GMT

I guess I will sit this one out. Its not likley that I will get any more pre-approvals for a while to bother me with the fraud report on my account. I will buckle down early and let the score go up...