Discover it Chances?

[Anonymous]

i applied on sunday last week and got it that following thursday

[Anonymous]

Sounds great. I suppose that I'll just begin using the QS1 for all purchases instead of my debit card and paying it off every week/twice weekly. 

[Anonymous]

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@Anonymous wrote:

Sounds great. I suppose that I'll just begin using the QS1 for all purchases instead of my debit card and paying it off every week/twice weekly. 

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That's exactly how you should use it. This way you get 1.5% cashback as opposed to 0% with your debit card!

[Anonymous]

plus you have to keep in mind prices on most goods and services are marked up on top of typical mark up to accept credit card fees so if you are using your debit card with no reward structure then you're wasting money and paying for people like us on this forum that don't know what a debit card is
pay yourself back some by getting your rewards.

[Imperfectfuture]

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@Anonymous wrote:

Cap1 has been really good lately with starting limits and increases. They may start you out with a lower limit simply because you don't have any revolving credit right now - I think any lender would. So with or without the collection on your report, I'm afraid that the first card (or two) that you get will start with lower limits, because they need to see how you're going to handle it. Higher credit lines happen gradually - you start low and build your way up. Nothing wrong with that at all.

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Definitely true.  Had secured at 500, a rebuilder at 750, and cap one approved me for 300 (now at 3k, not yet a year old).  Have you visited the rebuild section, to try and good will those lates off?  If the cards were paid, then you stand a good chance, especially if you still bank with the cards.

[Anonymous]

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@Anonymous wrote:
plus you have to keep in mind prices on most goods and services are marked up on top of typical mark up to accept credit card fees so if you are using your debit card with no reward structure then you're wasting money and paying for people like us on this forum that don't know what a debit card is
pay yourself back some by getting your rewards.

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Very true. Having a rewards card is going to be another very new experience. I'm definitely looking forward to it!

[Anonymous]

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@Imperfectfuture wrote:

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@Anonymous wrote:

Cap1 has been really good lately with starting limits and increases. They may start you out with a lower limit simply because you don't have any revolving credit right now - I think any lender would. So with or without the collection on your report, I'm afraid that the first card (or two) that you get will start with lower limits, because they need to see how you're going to handle it. Higher credit lines happen gradually - you start low and build your way up. Nothing wrong with that at all.

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Definitely true.  Had secured at 500, a rebuilder at 750, and cap one approved me for 300 (now at 3k, not yet a year old).  Have you visited the rebuild section, to try and good will those lates off?  If the cards were paid, then you stand a good chance, especially if you still bank with the cards.

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Oh yes, I've posted a topic or two in the rebuild section. I recently sent a Good Will letter to Capital One Auto for a 30-day late payment, and I'm disputing the other 30-day late with them. I've also spoken with the accounting department of the account in which I have the most recent 30-day late (12 months ago) and they mentioned that since it would be diffcult to correct an individual late payment, it may be easier to have the entire account removed. It was essentially a loan for 14 months. 

[Anonymous]

I started with the QuickSilver-One card with a limit of $1K. I use it heavily with up to almost 100 transaction a month. Requested for a CLI on the 4th statement and was approve for $4K and I just received the credit step CLI for another $500. So from 6 months of new account opening, I went from $1K to $4.5K. I paid in full everytime and was never charged interest fee from leaving a balance.

I opened both the QuickSilver-One and Journey (student) cards the same day.; both with SL of $1K. Both was approved for CLI online request, but only received $1K increase for the Journey while QS-1 got $3K increase. This makes sense because the QS-1 was my main card that I used. I was thinking about combining the Journey into my QS-1 to have a credit limit of $7K, then apply for another QS-1 to use heavily, only to combine it again in the future.

NOTE: I did noticed that the amount of CLI was pretty the amount of $$ I've spent on the cards for those 3 months. For example, I spent about $900ish on the Journey and got approved for $1K increase. I spend a little over $3K on the QS-1 and got $3K increase.

I did the same thing for my CHASE HYATT card for two months and I went from $5K-$9K. Used heavily (80+ transactions per statement) for 2 months straight, took a break the 3rd month and still receive the automatic CLI from CHASE after 4th statement. I wasn't trying to earn a CLI; just trying to earn free nights and rewards point, but CHASE gave me an extra $4K anyways without me asking.

So I guess I can say that from my own experience, it seems that the more you swipe, the more the CC companies will love you :-D

[taxi818]

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@Anonymous wrote:

I started with the QuickSilver-One card with a limit of $1K. I use it heavily with up to almost 100 transaction a month. Requested for a CLI on the 4th statement and was approve for $4K and I just received the credit step CLI for another $500. So from 6 months of new account opening, I went from $1K to $4.5K. I paid in full everytime and was never charged interest fee from leaving a balance.

I opened both the QuickSilver-One and Journey (student) cards the same day.; both with SL of $1K. Both was approved for CLI online request, but only received $1K increase for the Journey while QS-1 got $3K increase. This makes sense because the QS-1 was my main card that I used. I was thinking about combining the Journey into my QS-1 to have a credit limit of $7K, then apply for another QS-1 to use heavily, only to combine it again in the future.

NOTE: I did noticed that the amount of CLI was pretty the amount of $$ I've spent on the cards for those 3 months. For example, I spent about $900ish on the Journey and got approved for $1K increase. I spend a little over $3K on the QS-1 and got $3K increase.

I did the same thing for my CHASE HYATT card for two months and I went from $5K-$9K. Used heavily (80+ transactions per statement) for 2 months straight, took a break the 3rd month and still receive the automatic CLI from CHASE after 4th statement. I wasn't trying to earn a CLI; just trying to earn free nights and rewards point, but CHASE gave me an extra $4K anyways without me asking.

So I guess I can say that from my own experience, it seems that the more you swipe, the more the CC companies will love you :-D

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Well you would not have paid interest anywY. As the first year is interest free. This is when you use them instead of them using you. Congrats on increase. 

[Anonymous]

My first statement cuts on 9/3. I don't think the bill is due until 9/28, but should I leave a utilization of 4% before it is generated?