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Hey all, I'm new to this place. I've got a question, I've had my Capital One secured card for 6 months ($550.00 limit) and I've gotten my score up to 742 EX - 740 EQ - 736 TU, so far so good. I don't plan to have this card forever though and I've read on here that being graduated to an unsecured card can take a very long time/is very unlikely.
I'd like to start on a new card soon, to be my oldest credit line for the future. What are my options?
@Anonymous wrote:Hey all, I'm new to this place. I've got a question, I've had my Capital One secured card for 6 months ($550.00 limit) and I've gotten my score up to 742 EX - 740 EQ - 736 TU, so far so good. I don't plan to have this card forever though and I've read on here that being graduated to an unsecured card can take a very long time/is very unlikely.
I'd like to start on a new card soon, to be my oldest credit line for the future. What are my options?
Two things you should do right now. Check Capital One and Chase websites to see if you are pre-qualified for any cards. If so come back and tell us about it! Both sites pre-quals are rock solid so if they say you are pre-qualified it's like a 99% chance of approval
As to which card to get that all depends on your needs. Do you want a good signing bonus, low APR, high limit, cash back, etc. Let us know what you are looking for and we will be happy to let you know your options and chances of getting approved
Edit: Some good Cap One options would be the Quicksilver for cash back, or the Venture for Travel Rewards (also has 5k min starting limit). Chase I would say the Freedom for cash back, CSP for travel rewards (CSP likes to see higher income, however so may not be an option). Also there is Amex, Discover, many other options available.
Discover likes a new/clean file. I started my journey with a BoA Cash Rewards secured card and Discover IT without a thing on my report, just a HP on each bureau from Capital One, 7 month later I got Amex PRG with 50k/1k promo.
I don't think is a good idea to try a 5k limit card (CSP or Venture) at this point, you don't have enough history and high limits for approval. The APR on Chase can't be lowered.
Try Amex pre-qual site, you may get nothing. Try every week until they SP you and give you an offer. You can start with the ED card or BCE (no AF) and keep trying the SP CLI every time you can (90 days after CLI denial/180 after CLI approval).
@Anonymous wrote:Hey all, I'm new to this place. I've got a question, I've had my Capital One secured card for 6 months ($550.00 limit) and I've gotten my score up to 742 EX - 740 EQ - 736 TU, so far so good. I don't plan to have this card forever though and I've read on here that being graduated to an unsecured card can take a very long time/is very unlikely.
I'd like to start on a new card soon, to be my oldest credit line for the future. What are my options?
Scores are not everything.. What is your income? What cards do you want and will work best for you? That will help get you the best answers..
Aw man, unfortunately I'm not 21 yet. Capital one on their website says "You must be at least 18 years old to be matched to a credit card offer. To be matched to a pre-qualified credit card offer, you must be at least 21 years old."
Chase said they weren't able to match me, probably because I'm not 21 yet. I turn 21 in 6 months.
As for what I'd like, a low APR and/or high limit would be nice, though with my young account I don't expect that. I was looking at AMEX and their line-up, and also the Discover IT card, out of reach maybe?
@Anonymous wrote:Aw man, unfortunately I'm not 21 yet. Capital one on their website says "You must be at least 18 years old to be matched to a credit card offer. To be matched to a pre-qualified credit card offer, you must be at least 21 years old."
Chase said they weren't able to match me, probably because I'm not 21 yet. I turn 21 in 6 months.
As for what I'd like, a low APR and/or high limit would be nice, though with my young account I don't expect that. I was looking at AMEX and their line-up, and also the Discover IT card, out of reach maybe?
Wait until you've had secure for a year and then go Amex ED or BCE. Amex likes new and clean profiles. Take a look at them for sure. Depends on where you live as well, for example, a lot of people say that Amex isn't accepted everywhere for them. However, for me, I've only seen people tell me they don't accept Discover. Keep an eye on the stickers on the doors at your local grocery stores, shopping stores, and restaurants. I'm fortunate that where I live most people accept everything but there are those hole-in-the-walls that might not accept Discover/Amex (mostly Discover from where I work/shop).
@Anonymous wrote:Aw man, unfortunately I'm not 21 yet. Capital one on their website says "You must be at least 18 years old to be matched to a credit card offer. To be matched to a pre-qualified credit card offer, you must be at least 21 years old."
Chase said they weren't able to match me, probably because I'm not 21 yet. I turn 21 in 6 months.
As for what I'd like, a low APR and/or high limit would be nice, though with my young account I don't expect that. I was looking at AMEX and their line-up, and also the Discover IT card, out of reach maybe?
Bummer... If I was you I would go for either a Chase Freedom, Capital One QS/QS1, or maybe an Amex charge card. You have a great shot at getting one of these. My suggestion though is to do your research on these cards and find out which one suits YOU best. Then you can app for it. Discover is kind of hit or miss. You might get instant approval or possibly straight denied, it's hard to say.
Also make sure you don't go on a spree! Just find the one that works best for you and go for that one. Best of luck to you
Sallie Mae or an Amex dude! Your 700+ TU score gives you a great shot at the Sallie Mae card. 5% cashback on grocery stores (including most Target and Walmart stores), gas, and Amazon (actually bookstores, but all Amazon purchases are included except for fees like paying for Prime).
I would also consider Discover too since they like clean profiles (yours seems clean from the limited information you gave), at least for the It card. Not too much out there for Miles. Don't know if Discover's approval critiera is similar or not.