Hi All! I need some advice from the gurus on which Cap 1 card to app for, when to app and which card to consolidate with that new card. I currently have 2 Cap1 cards - a QS MC that was PC'd when Cap 1 took over the acct from Orchard, has a $4200 limit and a 13.15% APR, no annual fee & a Plat MC with a $6000 limit, an unheard of anymore 5.54% APR, no annual fee BUT a $5 monthly "membership" fee that got added back in 2010 and they say it is now part of the T&A of that card and refuse to remove it. Both cards were opened post BK so are my oldest cards that are active (10 years). I like features on both cards (the 1.5% cash back on the QS and obviously the low interest rate on the the Plat, its my go to card when I need to carry a balance). I have tried unsuccessfully over the past 2 years to get a CLI on either card, seems I've hit the max limit for both. Gotten every denial reason in the book, even had a manual review done about a yr ago to no avail, so I clearly will need to open a new card with them to get my CL to increase anymore. Just not sure WHICH card...a Venture or a QS Signature Visa? I have about 7-9 inquiries across the 3 bureaus, a couple of those will fall off come summer. But I need to apply for a Sheffield Financial no interest installment loan for a new mower right now anyway and know they pull TU only. Should I just go ahead and couple apping for the new Cap1 card at the same time or wait until the inquiries fall off in the summer, even though I'll be adding a new one with Sheffield to my TU?
Other major cards I carry and the limits are:
Delta AMEX ~ $25K
RBFCU MC ~ $15K
Discover IT ~ $6500 (only had for 2 yrs - started with $1500)
WM MC ~ $6000 (only had for 2 yrs- started with a store card)
So as you can see, Cap 1 is quickly falling behind and they are my oldest cards, which is confusing as heck to me.
TIA for any advice and recommendations.
*** Edited to add that on Cap1 Prequal site I'm not matched with any card....but I've tried that site numerous times and never seem to be...FWIW
@Anonymous wrote:
@FroggieMom wrote:Hi All! I need some advice from the gurus on which Cap 1 card to app for, when to app and which card to consolidate with that new card. I currently have 2 Cap1 cards - a QS MC that was PC'd when Cap 1 took over the acct from Orchard, has a $4200 limit and a 13.15% APR, no annual fee & a Plat MC with a $6000 limit, an unheard of anymore 5.54% APR, no annual fee BUT a $5 monthly "membership" fee that got added back in 2010 and they say it is now part of the T&A of that card and refuse to remove it. Both cards were opened post BK so are my oldest cards that are active (10 years). I like features on both cards (the 1.5% cash back on the QS and obviously the low interest rate on the the Plat, its my go to card when I need to carry a balance). I have tried unsuccessfully over the past 2 years to get a CLI on either card, seems I've hit the max limit for both. Gotten every denial reason in the book, even had a manual review done about a yr ago to no avail, so I clearly will need to open a new card with them to get my CL to increase anymore. Just not sure WHICH card...a Venture or a QS Signature Visa? I have about 7-9 inquiries across the 3 bureaus, a couple of those will fall off come summer. But I need to apply for a Sheffield Financial no interest installment loan for a new mower right now anyway and know they pull TU only. Should I just go ahead and couple apping for the new Cap1 card at the same time or wait until the inquiries fall off in the summer, even though I'll be adding a new one with Sheffield to my TU?
Other major cards I carry and the limits are:
Delta AMEX ~ $25K
RBFCU MC ~ $15K
Discover IT ~ $6500 (only had for 2 yrs - started with $1500)
WM MC ~ $6000 (only had for 2 yrs- started with a store card)
So as you can see, Cap 1 is quickly falling behind and they are my oldest cards, which is confusing as heck to me.
TIA for any advice and recommendations.
*** Edited to add that on Cap1 Prequal site I'm not matched with any card....but I've tried that site numerous times and never seem to be...FWIW
Just my opinion, I'm sure others will chime in with suggestions......
I would try and get the Plat MC PC'd into something else - try chat and ask if they can add rewards. All other terms are supposed to stay the same (like your APR). You may have to keep the fee but at least you can try and get the 1.5% cash back rewards. ~~~ It does have miles on it
I forgot to mention that.
Regardless if the PC works, it sounds like those two cards are stuck - it happens with some of their cards and profiles. I would combine the QS into the Platinum MC and have a card with 5.54% - regardless of the total $60 annual fee, that APR is unheard of today! Having a $10K card with that APR give you a great options if you need to carry a balance. I'd happily pay a fee for that, lol! ~~ Good thought! And yes! The $60 is their way of making some kind of $$ I guess off me, so in reality it's a small price to pay.
Your Discover and Amex scores (those are real scores) look to be in range of their prime cards - just know that Capital One pulls your EQ 04 score for approval (these are the scores that are commonly referred to as mortgage scores) not sure if you know what those are? @~~ We purchased a house in Oct and when they ran our last reports for rates I think she said I was @ 681, but I'm guessing it may be a bit higher since my other scores have gone up since then. Since you're not getting any pre-qualifications, if it were me and the information you have posted below, I would apply for a Venture and if approved, immediately for a QS or VentureOne. I'm a HUGE fan of doing back-to-back applications with them to try and take advantage of only getting 1 set of triple pulls. ~~ Can you do this by apping online and only get 1 set of pulls?
Good luck with what you decide. Let us know how it turns out!