Capital One 6-month app rule?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I honestly hesitate to recommend Capital One at this point when you would likely be approved for PayPal Cashback, a card that has 2% cash back on all purchases and will actually grow quickly unlike the Capital One card which will either be heavily bucketed or not heavily bucketed, and with just a single HP instead of one on each bureau. I would garden your scores up to 670 or so and try for the PayPal. Or Amex for that matter. 

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I just saw this!

Oh YEAH, I'd much prefer the PayPal 2% if I have a shot at it! Thanks for this suggestion!

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Since you already have your foot in the door with Sync and your score has gone up since getting the card, I would say you have pretty good chances on getting the card now but I would garden a bit more to try to get a higher limit. 

[Anonymous]

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Since you already have your foot in the door with Sync and your score has gone up since getting the card, I would say you have pretty good chances on getting the card now but I would garden a bit more to try to get a higher limit. 

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Thank you! I will do it! I want there to be at least a six-month gap between my last app and any new ones. In a few months, perhaps my score will be up to 665 or 670, who knows? (It's been creeping up nicely in the last several months.)

Sometimes I get impatient, but hopefully I can hold out for at least a few more months!  

[Jannelo]

(Sigh).  I had no idea that Green Dot had an annual fee, or I guess I had forgotten that when I first got it.  It has just hit a year old.  I haven't used it for two months and have no plans to use it so had not checked on it for at least three weeks.  After reading this, I went and looked  online and there the annual charge was.  After all of my efforts to have only one card reporting this month, it was all for nothing.   But I'm glad I read this, though.  I might not have even checked this whole month on that card since I have no plans to charge anything on it, and just what I need, or in this case "don't need," a late, after all this rebuilding work.  That might have truly pushed me over the edge.

Thanks.

[Anonymous]

I have never had luck with Cap One preapprovals but I have had luck with my applications.  I do however agree with the advice to garden a bit longer and wait until your scores are over 670.  When I was rebuilding I made the mistake of applying for cards before the time was right and ended up with a bunch of inquiries that didn't result in new CL.  

Now I am more patient and strategic, most of the time at least.

[Anonymous]

Your scores are enough for Barclay cards.

[NaaryalHead]

I'd recommend going for any other bank except Cap One. If you're not seeing prequals they'll most likely give you a bucketed card with 500-1000 SL with limited options to grow out of. Not worth the 3B hard pull.

[Anonymous]

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@NaaryalHead wrote:

I'd recommend going for any other bank except Cap One. If you're not seeing prequals they'll most likely give you a bucketed card with 500-1000 SL with limited options to grow out of. Not worth the 3B hard pull.

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Thanks for this advice and thanks to everyone for your wisdom!

I have another thing I'm wondering about: Should I apply for a PayPal card after or before my Walmart card transfers over to Capital One? (As most of us know, Cap 1 is "taking over" the handling of all Walmart credit cards sometime this summer.) Synchrony Bank is doing my Walmart card now, but in a few months it won't. Will Synchrony "remember" me after my Walmart card is no longer with them? 

I was thinking of applying for a PayPal card in June or July (preferably July) if that would be before Capital One takes over Walmart credit. If it doesn't matter either way, I could hold off until October or something.

Another question in case anyone knows: My Wamart card just posted its 4th statement. Might I expect a CLI soon (the limit right now is $200) or should I request one? I don't want to rock the boat by requesting if it's too soon.

[Anonymous]

Sync isn’t really known for giving CLIs with your scores so low. You can try though, it doesn’t hurt anything. 

As for the app, you can do it any time. If it were me, I would garden a bit to get the TU score a bit closer to 700 to try to get a larger SL. 

[Caught750]

I believe Saeren is 100% on point! Garden that score a little closer to 700 and you’ll likely get a nice limit out of SYNC. 700s + Income = VERY GENEROUS!

[Anonymous]

Nothing will appear on the prequalift page for 3 months after your apply, even if it's been a few minutes. By the 3rd the average cards you qualify for should appears, and if you qualify for the excellent tier cards they should appear by the 6th month.