What can my scores qualify for?

[arkane]

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@Anonymous wrote:
For sure I'm doing research. But I did apply for the CO card. And after just having two cards I'll be satisfied and work with that. I'm not looking into major purchasers anytime soon.

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CO = Capital One? If so which card?

I generally recommend people stay away from Capone for a few reasons:

1. They do a triple pull i.e. leave an inquiry on each bureau

2. If you're bucketed into a starter account, good luck getting that credit limit to grow

3. Lackluster rewards and sign-up bonuses

Unless they're the only that will approve you, I see no reason going with them. If you had to scratch that credit itch right now, I would've recommended Discover, since they take very kindly to young and thin files.

[Anonymous]

Discover was my first credit card I have. Capone is just something i want to have on record. Build some more strong credit history.

[Anonymous]

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@AnonymousCapone is just something i want to have on record. Build some more strong credit history.

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I guess my question here is why and what benefit do you see adding a Cap One account bringing to your file [over not having it]?

[xaximus]

I wouldn't recommend Cap1. I have one and havn't had CL increase in ages. As mentioned before, whatever bucket you are in, that's where you end up staying. If anything, I would recommend the Chase Freedom card, they might start you off with a low CL but with time it can grow.

[MakingProgress]

I'm confused

you said:

‎07-03-2018 03:37 PM

Re: What can my scores qualify for?

I'm more looking into a loan for a business startup or maybe purchase a existing business.

And these scores are fico 8.. Experian.com provided these.

Then later

you said.

 

MrYoung420

 

Member

‎07-03-2018 04:54 PM

Re: What can my scores qualify for?

For sure I'm doing research. But I did apply for the CO card. And after just having two cards I'll be satisfied and work with that. I'm not looking into major purchasers anytime soon.

So are you looking for a business loan or are you looking for personal credit cards?

[MakingProgress]

I'm more looking into a loan for a business startup or maybe purchase a existing business.

And these scores are fico 8.. Experian.com provided these.

[MakingProgress]

Then later

[MakingProgress]

you said.

[MakingProgress]

 

MrYoung420

 

Member

‎07-03-2018 04:54 PM

Re: What can my scores qualify for?

For sure I'm doing research. But I did apply for the CO card. And after just having two cards I'll be satisfied and work with that. I'm not looking into major purchasers anytime soon.

So are you looking for a business loan or are you looking for personal credit cards?

[MakingProgress]

For sure I'm doing research. But I did apply for the CO card. And after just having two cards I'll be satisfied and work with that. I'm not looking into major purchasers anytime soon.

So are you looking for a business loan or are you looking for personal credit cards?

[Anonymous]

The bussiness is not something I want now. Maybe sometime in the future. For now I guess you cam say I'm looking for a card

[Anonymous]

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@Anonymous wrote:

Credit profile is far more important than credit score.  Generally, as credit profiles improve, scores follow suit.  With any 2 given equal scores though, you can have dramatically different profiles.  

For example, take two people with a FICO 8 score of 730:

Cornelius has a 730 score with a clean file, but it's super thin (only a couple of accounts) and his oldest account is just 9 months.  

Rupert has a 730 score with a dirty file (4 accounts with late payments, 2 of which are 90-120 days late), but it's very thick (20+ accounts) and his oldest account is 20 years.  

As you can see, score is just one small piece of the entire picture. 

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Income and utilization are also very important.  I get approved for everything even though I have a very dirty file.