CapOne Sucker Punch

SoCalifornia · ‎12-11-2019

I have been gardening since May of this year. My next move has been to open a second Disco this coming May, 2020. Several HP's will be falling off by then and I had since cleanly closed two bucketed Capital One cards around May as well, which were my only Cap accounts. One was a MC QS (PC’d Platinum) and the other a QS1. I had become a little bitter with CapOne, so I washed my hands of them- essentially planned to not be a customer again- But I always did like the Quicksilver.

Now, my overall utilization is way up- 40%ish, compared to my usual 6% or so. Mainly due to a big necessary purchase a few months back, combined with the holiday season. Obviously this has affected my scores somewhat. But CapOne has come along offering me a pre-qual QS, even with the oddball utilz. The plan was to wait, get the 2nd Disco and eventually combine the two after the new year of double cash back. But, would it be worth attempting the likely non-bucketed Quicksilver? Of course, I could just be denied and end up with a new triple of HP’s and no new account. Currently at EQ-3, TU-2, EX-5.

Turn a blind eye or try the sucker punch? Just wondering what some of you might do if you were me.

CreditCuriosity · ‎12-11-2019

I would personally get your utilization lower prior to applying for them esp with a triple pull.. also is the prequal showing you what apr and a sign-up bonus and intro 0% apr.. the reason i ask is their are two versions of the regular QS card now one for "excellent" credit that has bonus and intro apr and one for "average" credit that has no sign-up bonus and no intro apr... They are both the normal QS cards and not the QS one cards.. just something to keep in mind. Also the limits on the "average" cards with no sign-up bonus etc are tending to be alot lower than the "excellent" credit ones

addicted_to_credit · ‎12-11-2019

Cap1 is offering me the platinum preferred - whatever that means- @ 21.49 and 0% for 15 months

The quicksilver(not QS1), savor one and venture one @ 23.99% with no sub whatsoever

I’m leery of the triple beat down (as someone else put it) and the great divorce of ‘12 was a 10k + burn for them (& myself) so I’m not really sure about being a DP as far as Cap1 is concerned.

But good luck to you if you decide to give it a go!

thornback · ‎12-11-2019

+💯 Agree with CreditCuriosity. Get your util down first - it's just not worth the risk. I'd actually follow your original plan for a 2nd Disco, then app the QS afterwards if you still want it.

Personal Aphorism:"Forget What You Feel, Remember What You Deserve"

Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 04/2022: EX 796 ✦ EQ 793 ✦ TU 790
Current FICO 9s | 04/2022: EX 790 ✦ EQ 788 ✦ TU 782
2022 Goal Score | 800s

My AAoA: 4.6 years not incl. AU / 4.9 years incl. AU
My AoOA: 9.2 years not incl. AU / 11.2 years incl. AU
Inquiries: EX 0/12 ✦ EQ 0/12 ✦ TU 0/12
Report Status: Clean
Garden Status:

Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.

Anonymous · ‎12-11-2019

I don’t see why you need a QS if you have your CFU right now. I would get utilization down and keep up with your plan for the 2nd Disco. Cap1 will be there later as they could care less about a bunch of HPs.

Anonymous · ‎12-11-2019

But, would it be worth attempting the likely non-bucketed Quicksilver?

Most Cap1 consumer cards are bucketed. Some are placed in higher buckets. If your scores in your signature are accurate I'm afraid a triple punch, lower bucket is incoming.

randomguy1 · ‎12-11-2019

@Anonymous wrote:
I don’t see why you need a QS if you have your CFU right now. I would get utilization down and keep up with your plan for the 2nd Disco. Cap1 will be there later as they could care less about a bunch of HPs.

While there are better cards, perhaps bc no FTF fee?

Anonymous · ‎12-11-2019

OP has the CSP for no FTF. Though I do agree, if he wanted a no AF, no FTF Card, you can’t beat Cap1.

I think if OP wanted to go back to Cap1, a SavorOne would slot in better than a QS. It would be a 2% grocery card in which they don’t have.

randomguy1 · ‎12-11-2019

@Anonymous wrote:
OP has the CSP for no FTF. Though I do agree, if he wanted a no AF, no FTF Card, you can’t beat Cap1.

I think if OP wanted to go back to Cap1, a SavorOne would slot in better than a QS. It would be a 2% grocery card in which they don’t have.

Right, understand that. Some people want 1.5% vs the 1.5%. That's the only logic I see here. Don't agree w the choice as there's better cards such as the S1 you mentioned. Also, for higher CL.

SoCalifornia · ‎12-12-2019

@CreditCuriosity wrote:
I would personally get your utilization lower prior to applying for them esp with a triple pull.. also is the prequal showing you what apr and a sign-up bonus and intro 0% apr.. the reason i ask is their are two versions of the regular QS card now one for "excellent" credit that has bonus and intro apr and one for "average" credit that has no sign-up bonus and no intro apr... They are both the normal QS cards and not the QS one cards.. just something to keep in mind. Also the limits on the "average" cards with no sign-up bonus etc are tending to be alot lower than the "excellent" credit ones

I anticipated advice would be to lower utilization prior to any apps. I agree, I'm not fond of my current utilz. Yes, I see now- I didn't know they launched a second version of the card. It is the non-SUB version, which I guess it's really the same card just without the SUB and likely lower SL due to profile. In any case, I just needed someone to talk me out of being tempted by the app invite. Honeslty, I still feel that Cap and I aren't really meant to be. Thanks for pointing out the card difference.

@Anonymous wrote:
I don’t see why you need a QS if you have your CFU right now. I would get utilization down and keep up with your plan for the 2nd Disco. Cap1 will be there later as they could care less about a bunch of HPs.

@Anonymous wrote:
OP has the CSP for no FTF. Though I do agree, if he wanted a no AF, no FTF Card, you can’t beat Cap1.

I think if OP wanted to go back to Cap1, a SavorOne would slot in better than a QS. It would be a 2% grocery card in which they don’t have.

I have no FTF concerns. And, true, there really is no need for another non-cat 1.5% CB card in my wallet. CFU gets it done. I just really need to get the utiliZtion down over the span of the next few months and stay the course for the 2nd Disco- which would be the Chrome. I'm beginning to agree that if I were to decide to get in bed with CapOne again, SavorOne would be the app for me to persue. Thereafter the Chrome double cash back, I could app for SavorOne to tandem the Chrome, if I wanted. By this time my scores will have rebounded significantly. Overall, you guys have helped me decide to wait. Patience is usually the answer. Only 5 more months of gardening. Scores will be up and I can persue the plan that originally made the most sense. I would put Disco ahead of Capital One in a lineup of favorable lenders any way and this way my limits will grow better as Cap is notorious for being stingy in that area while Disco is quite the opposite.