CapOne Plat Rebuilding Process

blazerein · ‎09-12-2018

Hi Guys,

Just want to seek advise with my rebuilding process with my Cap One Plat. My utilization should be ZERO by October and using the FICO Simulator my scores should be around 630-640s accross the board. I've been reading a lot here and came up with a plan with my CapOne Plat but I'm open to any suggestions/help as I don't want to screw this up again.

Here's the Plan:
1. After 2nd Statement go to Chat and ask for any Offers to upgrade (goal is to get QS with no AF)
2. Approve or not click the LUV button after the 3rd statement and continue until graduation (6mos)
3. After 6 months try pre-qualify offers and check for Prime Cards and apply.
4. If approved, merge the Platinum if I still have it to one card.

Thanks for all the help

> >CREDIT UNION

EX- 585, TU- 583, EQ- 563 | CURRENT SCORE UPDATED: 2/2023 -> FICO 8 EX 754 TU 741 EQ 755 | FICO 9 EX 747 EQ 763 TU 756

FireMedic1 · ‎09-13-2018

Lets tackle the scores. Kinda low. Baddies? You got 3 cards on your own which is fine with FICO. The AU's only 1 you have the util listed. IMO you really dont need the AU's. Things have changed since 2015. I hit the CLI's before the CS kicked in. Upgrading is usually easy to the QS so you can get the cash back, But the scores even after paying down the present util may again may get you to the 600 range going by the siggy below. Need a bit more history of what is holding you down. Prime cards with Cap1 will come after 690 to 700 with good history with the QS/Plat.Some things you have left out. Need to know whats killing your score at the moment then the gang can help you.

Anonymous · ‎09-21-2018

I will tell you right now that you should get what you can from CAP1 but I wouldn't even bother on getting a prime with them. I've tried to CLI but kept saying my payment is too low and other dumb stuff. I PC after the first year to a regular QS.

For a waste of HP on each bureau totaling 3, I wouldn't. I thought of doing the same thing but instead other card companies were happier to see me grow with them. I would suggest a AMEX Blue Cash Everyday to start your foot in the door with AMEX. You have an advantage of CLI's every 6 months (3x CLI) and SP for additional cards when you get your credit in line. AMEX helped me decrease my overall UTI.

Best of luck!

Thanks CAP1, but no thanks.

Anonymous · ‎09-22-2018

@Anonymous wrote:
... other card companies were happier to see me grow with them ...

I was struck by this comment. I don't believe lenders have feelings towards me, one way or the other. I expect I'm viewed by them as an acceptable opportunity for profit, or not. I don't believe they "root me on" towards financial success nor do I believe they delight in "holding me back" or interfering with my plans.

"It is what it is," the favored phrase of a great, but often reticient, football coach. And I think what it is, in this case, is business. Just dirty money business -- nothing more nothing less. But I could be wrong.

Brian_Earl_Spilner · ‎09-22-2018

I PCd my platinum at month 4 to a QS and requested a CLI around that same time. Didn't affect my steps increase.