Dumb Cap1 question.

[Anonymous]

I just got approved for a cap1 platinum this morning on recon. Since they literally just pulled my reports yesterday, should I go on and app for the qs1 today? That would give me the 3 in-store cards and I could get on with gardening. Or should I wait a few months?

[Anonymous]

3 non store cards, not in store cards. Darn autoincorrect

[Anonymous]

Anyone??

[Anonymous]

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@Anonymous wrote:

Anyone??

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Did you try the prequal site?  If it shows up a preapproval for QS1 then I would go for it; otherwise with your scores, I would wait a few months and get the scores up.  I would hate for you to waste 3 HPs.  Congrats on the platinum approval. 

[Anonymous]

I agree that you should wait.  Cap one is wonderful especially with rebuilding, but they do like to see how well you'll fair with the card that they extended to you.  Charge and pay for a few months, let them get comfortable with you and then move forward with one  or even 2 cards depending on how your score is looking.  Congrats on your new card!  BTW I started off Feb 2014 with a lonely 300.00 CC from Cap One and I have grow leaps and bounds now with cap one and other banks as well!   Your foot is in the door, and that is so important, Congrats to you! 👏🏼 👏🏼 

[Anonymous]

Holy cow, leaps and bounds for sure. My cc goals are actually pretty modest. I want a couple of cards with 5000 sl. I figure that would handle emergencies and I could still quite comfortably keep my utilization low and keep the ability to pay off monthly. Crazy as it sounds, my plan is to pay all my bills on the cc, since EVERYTHING is due the first week of the month, then pay the cc weekly to pay it off.that way everything is getting paid on time, but I actually have the month to pay it all. I dunno. Makes a lot more sense in my head than it does in writing.

[Anonymous]

Cap One likes to see a lot of charges and payment.  Pay multiple times a month and never ever minimum payment.  It's like they need to see if you can afford the larger credit line based on your current payment habits.  For example, if you pay 300 to 500 dollars per month, it shows them that you can actually afford a larger credit line.  I always got several thousand  CLI's at a time.  I currently have 4 cap one cards.    Keep up the good work!

[Anonymous]

Since you weren't approved immediately for the Platinum, I agree with others and say you should wait for the QS until the prequal site has it on there.