Capital One Platinum or QS1 ?

[Anonymous]

Hello!  My wife has been looking at the Capital One cards and is looking between these two.  We both have a BK discharge from April of this year, file date is December last year.  She just has an NFCU Secured card in her name at the moment and is an AU on my Discover IT Secured.  Would the QS1 be any better than the Platinum?  I know the QS1 has an annual fee but it looks like it has more rewards which we like.  Are the approval criteria the same on both cards or should she just go with the Platinum?

Her scores are in the low 600s as well.

Thank you!

[expatCanuck]

My two cents:

Cap One has a prequal site.  Use it.  Do not apply blind (learned that the hard way).  If you don't get a recommendation from the prequal site, don't apply.

Edited to add color commentary:

FYI, Cap One hates me.  I have yet to prequal for a card not requiring an annual fee.  I applied blind in January - triple-pull for nothing.  Won't be doing that again.

[Anonymous]

FWIW, many of us including myself started with the Plat and were able to convert it to a QS after a few months. That gained us the cash back portion without the annual fee of a QS1.

[HeavenOhio]

QS1s are hard to product-change to no-fee Quicksilvers. Platinums can be converted relatively easily. I'd go for the Platinum simply because it's so much easier to PC in a few months.

[Shooting-For-800]

I would check prequal site.

Based on Ohio's statement, Plat may be better for you.

Keep in mind, you will need to open up new accounts as your credit gets better to get better limits and terms.

In other words, Cap One will bucket your card but not you.

Ever 50 points or so, you should be able to move up to better accounts with better limits.

My first card after BK was $3k SL Platinum.

1 year later I got $10k SL QuickSilver.

3 years later I got $30k SL Venture.

GL!

[FireMedic1]

When it comes to Cap1. Avoid anything that has "One" after the name of the card. Except the Savor with no AF.

[Anonymous]

Prequal site shows nothing for either of us. Thanks everyone!!

[CivalV]

I would say try Amex prequal, Discover, Citi bank. Discover might give the option of the secured card. I have it and the rewards have been great. I am also putting a bigger deposit towards my account to have a higher credit limit. The card graduates with good behavior and you get your money back.

I’ll be following for updates! Good luck

[Anonymous]

I would establish history with another cc company, I see so many people closing Cap one because they don't grow your limit and that can hold you back. Amex & Chase are some good places to look.

[Shooting-For-800]

---

@Anonymous wrote:
I would establish history with another cc company, I see so many people closing Cap one because they don't grow your limit and that can hold you back. Amex & Chase are some good places to look.

---

Thats because the cards were issued when other banks would not approve them for any CL.