Mercury or Cap One? - looking at adding a card

[twono]

DC'd a little over 2 yrs ago.  08 Scores in the 660's but 09 scores in the low 700's..  08 scores may be a bit low at this point due to an RV and motorcycle installment loan at 1 yr post DC and 15 months post DC, respectively.  So new accts and balances to loan too high has held me back scorewise i believe.

New cards since BK:

OLLO - $3100

Credit One - $2200

CU (local) - $2500

Kohls - $3000 - survived BK

Inquiries:  (several falling off in the next few months from the new cards 2 yrs ago)

EQ - 0

TU - 3

EX - 4

Got an offer from Mercury for $4000.  Cap One has been shooting me offers for their QS's and Platinum.  I'm leaning toward Mercury because of the $4000 limit and only 1 HP, vs 3 HP's from Cap One.  I'm concerned that Cap One would give me a $500 SL...I burned them for $20k or so.

Any insight on what SL Capital One might extend me?

[FireMedic1]

Its a toss up with Cap1 so YMMV. You got a solid offer and 1 HP. Leaning to Mercury. But your far out enough, and many have been getting 3k SL's with Cap1. It may be the Plat. That can be upgraded to the QS few months down the road. Check their prequal first of course. I only said "leaning"

[twono]

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@FireMedic1 wrote:

Its a toss up with Cap1 so YMMV. You got a solid offer and 1 HP. Leaning to Mercury. But your far out enough, and many have been getting 3k SL's with Cap1. It may be the Plat. That can be upgraded to the QS few months down the road. Check their prequal first of course. I only said "leaning"

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Thanks FM....the cap one offers are for the QS, QS-one, and Platinum.

I'm leaning Mercury as well.  No AF and 1% cash back at least.

[FireMedic1]

QS gives 1.5%. But those triple pulls too. Still leaning.

[FLLGuy]

I'd go with Mercury too (why?) 

• No AF
• 1 HP
• I hear they offer competive decent SLs

However, i don't have this card and I'm not aware of any customer service complaints.

[MileHigh96]

I've only had my Mercury card for a few months so far, but I like it and have no complaints about it whatsoever. (so far)

[chalupaman]

Mercury is fantastic. Pay that card off and use regularly, and they will definitely give you a CLI in a few months. That's what happened in my case. CapOne is fine too if you're gonna get at least a $3k starting limit from them and are willing to take the triple HP. 

[FLLGuy]

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@chalupaman wrote:

Mercury is fantastic. Pay that card off and use regularly, and they will definitely give you a CLI in a few months. That's what happened in my case. CapOne is fine too if you're gonna get at least a $3k starting limit from them and are willing to take the triple HP. 

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Poetically spoken  (3 HPs  or  1 HP)?   It's simple as 1,2,3 or like This is your brain then this is your brain on drugs .  Seriously speaking, if CAP1 would ease off on that 3rd HP then maybe it could be an easier pill to swallow (i'll debate 2) but 3 --- oh man.

@twono  - don't forget OLLO Rewards maybe another option to consider close competitor to Mercury I would suppose.

[twono]

Well, i pulled the trigger for the Mercury after receiving a $4000 preapproval letter....and i did get instant online approval of $4000.

I'd rather have a Cap One or more of a 'mainstream' lender, but no AF and starting limit of $4000 is hard to beat at this stage of the game.  I pretty much burned every big CC company out there.....BOA x2, AMEX x 2, CHASE x 3, CAP ONE x 3, DISCOVER, SYNCHRONY - (lowes,walmart,paypal) , FIDELITY, USAA, US BANK x 2 HUNTINGTON,  and etc..... and some of the big/popular CU's....Penfed, Navy, DCU, Wings, Alliant, etc... So i'll graciously take what i can get while i continue to rebuild.

Mercury pulled TU and  my TU 08 score is 641....EX is 655 and EQ 662.  TU has always been my lowest score even before BK.