Capital One Question

[Anonymous]

First off great forum with great people. I have a question about apping for another card with Capital One. I go to the pre qual and it offers me the QS1 and the Platinum. My current scores are from Credit Check Total as of today Exp 675 TU 648 EQ 637. I have had a QS1 for about 5 months now with a CLI at 2 months which took it to $800 along with 2 attempts at a CLI which did not work. I have a Ford Credit acct which is 12 months old perfect and a Overstock card with 0 balance and a $1050 limit. I am a an AU on another QSI with a $1500 limit and a walmart card with an $800 limit with a $650 balance. DW's card. I have some old tax liens and have had a few of those removed recently and it did nothing for my score coming off. Like 1 point bumps so I am not sure if those are an issue? I was thinking off apping for another QS1 in hopes of getting another card with maybe a higher limit and also another tradeline. Any insight? Thanks in advance.

[Anonymous]

If your first card is only 5 months old and it is a bigger limit you are seeking, then hold off entirely applying for a new card. Use the card you have now and wait for your credit profile to improve a bit before applying again.

The reason being, if you were approved 5 months ago with a credit limit of $800, that meant you barely got in and another card will probably yield the same limit if approved.

[Anonymous]

welcome...

i would deff garden

[Anonymous]

Thanks that is what I was looking for.

[EAJuggalo]

If your QS1 is five months old with a limit of $800 you should be hitting your credit steps increase of $500 next month.  I would app for the Cap One platinum and in two or three months have that PC'd to a QS, then after six months combine your QS1 into your QS.  

You have all the ingredients you need, you just have to let them grow and age well.

[Anonymous]

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@EAJuggalo wrote:

If your QS1 is five months old with a limit of $800 you should be hitting your credit steps increase of $500 next month.  I would app for the Cap One platinum and in two or three months have that PC'd to a QS, then after six months combine your QS1 into your QS.  

You have all the ingredients you need, you just have to let them grow and age well.

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+1

This is good advice and the Plat once PC'd will yield some added fruit down the road. It will be a STEPS card too so you'll work it the same way except for the PC part and you'll want to do that just after the 2nd statement hits. Then combining them into 1 CC after the 6mth point gives you 1 larger CL on a nice card.

[Anonymous]

So get a Platinum and PC it into a regular Quicksilver in 2 months not the QSI? Thanks everyone also for the responses and input.

[Anonymous]

Ok so I apped for the Cap One Platinum and was approved for a $500 limit just like everyone said would happen. So just so I am making sure I understand I should wait 2 months with this new card and call to PC to a regular Quicksilver? Thanks again everyone.

[Anonymous]

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@Anonymous wrote:

Ok so I apped for the Cap One Platinum and was approved for a $500 limit just like everyone said would happen. So just so I am making sure I understand I should wait 2 months with this new card and call to PC to a regular Quicksilver? Thanks again everyone.

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Silvertip,

That's great!!! You should go to the following link. IT's a post I put up this morning about my PC to Plat today. It has all the details.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Cap1-Platinum-Upgrade-1st-Statement/td-p/4467249

[Anonymous]

Thats fantastic and congrats. Thanks for the help!