Cap 1 2nd Credit Card

[wxman2021]

Hey all!  I know this has been discussed a bunch of times, but after reading it over kind of confused on the DP outcomes.  I have had my QS card (not the QS1 or the with sub ones) (I guess its the QS for good credit)....I have had it for now 4 months, $3k limit (started with that) and always PIF (heavy usage). I really want a Venture card, want to rack up some airline miles for travel, and before I read all the different threads, I looked at the pre-approval page thing last month (so would only have had this card 3 months) and it said I already just got a card....

Fast forward to today, because keep seeing stuff about Savor and Venture pop up on the advertising sites.  I said heck it, lets see if it matches me with any other cards or same result until hit the 6 month mark.  So, filled it out and came back with Secure card and the QS card (good credit not the 1 nor subs) that I have already.  Meh no thanks.... 

So my question is, should I wait another 2 months (to finish the 6 months) and try to see again, or do you think I would possibly get the Venture one (good credit) since I have pre-app for good credit QS?

Scores are somewhere in the 640-660 range (Fico 8)

[Adkins]

I'd wait two more months, until you're six months after the last approval plus a few days to be on the safe side. 

[FinStar]

OP you mentioned Venture as a potential card, do you presently have any revolving accounts with a $5K limit or higher?

[wxman2021]

Ok thank you.  I was thinking about it and just Wasn't sure if I should wait until the six months is up and see if I get a credit line increase on my current card and then apply for a second one and see if that helps or not. 

[wxman2021]

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@FinStar wrote:

OP you mentioned Venture as a potential card, do you presently have any revolving accounts with a $5K limit or higher?

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I do not, the $3000 limit on my Quicksilver card is the highest right now, and I have $600 on my Navy Federal secured card. Does venture or venture one have an automatic start line of 5000? I remember back in the day I want to say it was a venture card I started with a $10,000 limit but I can't remember it's been a long time. And then account was bad and went to IIB

[FinStar]

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@wxman2021 wrote:

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@FinStar wrote:

OP you mentioned Venture as a potential card, do you presently have any revolving accounts with a $5K limit or higher?

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I do not, the $3000 limit on my Quicksilver card is the highest right now, and I have $600 on my Navy Federal secured card. Does venture or venture one have an automatic start line of 5000? I remember back in the day I want to say it was a venture card I started with a $10,000 limit but I can't remember it's been a long time. And then account was bad and went to IIB

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Venture has a minimum SL of $5K, Venture One does not. So, if Venture is the goal, there's a variety of strategies that can get you to that milestone over time. What Capital One is looking for is to determine whether you've managed revolving tradelines of such capacity to consider a potential approval.

[wxman2021]

@FinStar I think for now, I will see what kind of CLI I get with my QS *hopefully in 2 months* after my 6th statement cuts and then re-try the pre-approval page again.  What do you think?  I know there is a better rate you pick up miles on the venture vs venture one.  Worth it, you think?

[FinStar]

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@wxman2021 wrote:

@FinStar I think for now, I will see what kind of CLI I get with my QS *hopefully in 2 months* after my 6th statement cuts and then re-try the pre-approval page again.  What do you think?  I know there is a better rate you pick up miles on the venture vs venture one.  Worth it, you think?

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Yes, Venture has the better rewards of the two, but it also has the $95 AF.

I suppose the question would be, how often do you travel and are you loyal to any particular FF program or carrier?  Do you stay at specific hotels or not particular to any brand? Do you travel more for leisure or business? There could be better cards suited for your travel needs, but it really depends on your travel patterns.

[wxman2021]

@FinStar 

Very good points.  I am fairly loyal to Delta....Amex Delta card will be future goal for sure, but that will be a bit until I can clear the 5 yr post DC.....I won't travel a whole lot, but if it can pay for a few flights a year for me and my kiddos (or just me) then it will be worth it.

[FinStar]

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@wxman2021 wrote:

@FinStar 

Very good points.  I am fairly loyal to Delta....Amex Delta card will be future goal for sure, but that will be a bit until I can clear the 5 yr post DC.....I won't travel a whole lot, but if it can pay for a few flights a year for me and my kiddos (or just me) then it will be worth it.

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Alright. Thanks for expanding on that.  Another thing to consider, if you were to go for Venture One (and if approved), it can always have the option to be upgraded if it meets certain criteria after having the card for a year. That said, you also have the option after 5 years (post-BK) on the AmEx Delta card(s).