Cap one app?

[Anonymous]

I am looking for advice on if i should pull the trigger on cap one application. I have had a secured card with them for over a year now and i have done every well with that, my scores are 580, 581 and 600. I have used their prequlify site but it keeps sayin congratulations you are prequalified for the secured card. Not sure if i should apply or not.

[Anonymous]

What other cards do you have and what is holding your score down? Do you have a lot of negatives?  If so, what are they?

[thummel]

I can say with those scores your not going to get anything from capital one unless it's secured if that's what your trying to go for. What's holding your score down?

[OmarGB9]

I'd say wait until scores increase significantly and baddies (which I'm assuming you must have a few with scores that low) age off.

[coldnmn]

I suggest getting your utilization down to 1%-9% before statements cuts. That maybe one reason your credit score remains so low. Just paying your bill at statement due date is not enough for scoring. Good Luck on your credit journey!

[Anonymous]

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@Anonymous wrote:

I am looking for advice on if i should pull the trigger on cap one application. I have had a secured card with them for over a year now and i have done every well with that, my scores are 580, 581 and 600. I have used their prequlify site but it keeps sayin congratulations you are prequalified for the secured card. Not sure if i should apply or not.

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You absolutely have a shot at the QS1 and Platinum with those scores assuming you have no issues with Cap1 in the past 12mths. The pre-qual site is very quirky and almost never gives an accurate offer.

For example, I had a TU score around 575 when I tried the site and got no "Offer" but went ahead and filled out the short app and was approved to fill out the full app. Got both CC's back to back. I checked back every few days just for the heck of it and couldn't even get the Secured card to come up as an offer. I now have the Plat PC'd to a QS a month ago, the QS1, (both have received CLI's of $1000 a couple of weeks ago) & just app'd and was approved for the QS Rewards VISA in my siggy this week and I just this minute for proof went to the "What's in your wallet?" pre-qual site and got this;

Gary, we couldn't match your records to a card offer. But based on your answers, we think you might like this card. (there it offers a couple of cards but NO formal OFFER)

I started a thread on this very issue a couple of weeks ago because it is such a frequent question.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/No-Offer-Cap1-Pre-qual-site/m-p/4484934#M473460

The great thing is that you can fill out the short app and it won't cost you an INQ unless you are taken to the full app and complete it with an approval. It's one of Cap1's strengths that they don't ding your credit for checking.

GO FOR IT and let us know how it went!!!

[Anonymous]

I don't think you need to apply for another secured card.. Why not apply for a Journey or Platinum.. Might as well cold app since your scores low to begin with.

[Anonymous]

I do have a couple baddies from 6 years ago but my scores were better last month, but my utilization went up to 37% after making a large purchase. At that point i had a drop in my scores. I payed most of it off so i know by next month they should have recovered. Can i just dispute the balance or should i just wait a month?

[Anonymous]

Sorry, someone else in the house was already logged in so i posted by mistake under their username but the info is correct. I still have some baddies but my utilization went up after a large purchase so i can only assume by next month it should have gone down and my scores would have recovered. Maybe i shouls just wait until then.

[Anonymous]

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@Anonymous wrote:

I do have a couple baddies from 6 years ago but my scores were better last month, but my utilization went up to 37% after making a large purchase. At that point i had a drop in my scores. I payed most of it off so i know by next month they should have recovered. Can i just dispute the balance I don't think you can DISPUTE a balance or should i just wait a month?

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As for the rest of your post, I'm not sure what you are referring to. The Cap1 app process? If yes, what are your current FICO8 scores?