I’m trying to decide if I want to app Capital 1 before I head into the garden for a bit. I was hoping that some of you may have some experience with them and provide some insight.
I currently have 2 cards with Cap 1- a secured platinum card (opened 08/2015) and a GM Buy Power card (opened 07/2016). I was given a CLI on both cards after about 6 months, but nothing since. The platinum currently has a $550 SL and the GM has a $500 SL. Neither card has ever been late, and I make multiple payments per month. The secured card has a $200 deposit.
In the past month, I’ve been approved for a NFCU Signature Visa ($15k SL), Discover IT secured ($300 SL) and Kohls (300SL). I am also carrying Credit 1 Visa ($1500 SL), Credit 1 MC ($750 SL), and Merrick Bank ($1750 SL). There is no AF on the Merrick and they have given me several CL increases after they doubled my initial limit. The AF on the two Credit 1 cards are waived through next year.
I’m FINALLY preapproved for a regular Capital 1 platinum card. I’d like to app this card then close the two cards that are obviously in the wrong bucket. I would also throw the security deposit from the secured card on my Discover.
I’m also about to pay off a few COs and I know that could cause my score to dip for a bit. I really want to get these dealt with because it’s the right thing to do and because two of the three are hitting my report every month. I would then go into the garden until I hit about 680 across all 3 scores, when I plan to app a second NFCU card and American Express. I would close the subprime cards at that point as well.
I’m worried about getting bucketed by Capital 1 again. Are they known for giving you a new card, but keeping you in the same bucket? I’m also willing to take a chance and app Quicksilver instead. It didn’t show as preapproved like the Platinum just as something I “…may be interested in.”
Any thoughts on this? I’d like to keep a relationship with Capital 1 because I’d eventually like to move to Venture when my little scores grow up.
Scores below are up to date as of today. I have 3 inquries on TU (including NFCU and Kohls), 2 on Experian, 2 on Equifax. The Navy Federal Visa reported to EX and EQ today, so I expect it to report to TU tomorrow. Got 18 and 17 point boost, respectively.
Congrats on your recent approvals.
Do you have a need for another card?
In the past month you were approved for an NFCU card with a 15K SL is there a need for more?
If not, I would garden what you have before adding any additional cards.
Just MHO of course.
@Pikaboo-icu wrote:Congrats on your recent approvals.
Do you have a need for another card?
In the past month you were approved for an NFCU card with a 15K SL is there a need for more?
If not, I would garden what you have before adding any additional cards.
Just MHO of course.
+1
You gotten NFCU with an awesome CL. I wouldn't apply for another Cap one card at this point.
Thanks everyone! I have no idea why I'm so fixated on getting a better card with Capital 1. It's a sickness LOL!
The two cards I have from Cap 1 are about to be PIF. I'm just going to sock drawer them for the time being until I'm ready to start closing subprime cards after the first of the year.
They are brutal since they pull all 3 CRAs
@Lemark wrote:They are brutal since they pull all 3 CRAs
I have the Secured platinum and hate the fact that they did a triple pull on a secured card.
