Venture / Quicksilver Rewards SL with high util

[Anonymous]

Firstly, I'd like to say that I've been lurking for months, and this board has been a godsend! I have a question about the relation between high utilization and low SL on new accounts. Some background on me:

J. Crew $6.700 limit / $0 balance

Capital One Platinum $10.200 limit / $6700 balance

Federal student loan in grace period

The average age of my accounts is roughly 15 years, as I only have 2 cards that have been open since my freshman year of university. The only baddie I have on my account is a CO that's been paid in full and shows as such on my CR. The only HP I would have is from a Dicover I apped for last year. My income is $68K.

So I've been pre-approved for Venture at 17.9%. Considering the only baddie on my account has been PIF, I have low/no HP on my CR, the AAoA is good, and I have a long history with Cap One with a $10K CL, what could I reasonably expect as a SL for a new Venture considering my relatively high utilization? I'd just hate to get a triple pull for a $5K limit, especially since I've already got a $10K limit through Cap One. 

Cheers in advance!

[Bmac66]

based on the interest rate I would guess $20k sl. There is another thread and most people who were offered this interest rate were approved for $20k. Good luck if you decide to app. Keep us posted!

[Gmood1]

My best guess 15k to 20k. Both of my Ventures were 17.9. Both SL's were 15k. They grow fast though. Good luck!

[Gmood1]

Oh I forgot to mention, if you're preapproved for QS. Grab both on the same pull.

[Anonymous]

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@Anonymous wrote:

Firstly, I'd like to say that I've been lurking for months, and this board has been a godsend! I have a question about the relation between high utilization and low SL on new accounts. Some background on me:

J. Crew $6.700 limit / $0 balance

Capital One Platinum $10.200 limit / $6700 balance

Federal student loan in grace period

The average age of my accounts is roughly 15 years, as I only have 2 cards that have been open since my freshman year of university. The only baddie I have on my account is a CO that's been paid in full and shows as such on my CR. The only HP I would have is from a Dicover I apped for last year. My income is $68K.

So I've been pre-approved for Venture at 17.9%. Considering the only baddie on my account has been PIF, I have low/no HP on my CR, the AAoA is good, and I have a long history with Cap One with a $10K CL, what could I reasonably expect as a SL for a new Venture considering my relatively high utilization? I'd just hate to get a triple pull for a $5K limit, especially since I've already got a $10K limit through Cap One. 

Cheers in advance!

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IF you are pre-approved at 17.9% APR,  get it pronto !!! you have a chance to be approved with a nice SL, good luck and report the results.

[CreditCuriosity]

Should get 15-20k on the Venture.  In an ideal world I would pay down your existing Cap1 to under 30% and more preferred to under 10%.  Your utilization is getting a bit hight on that Cap1 card.  Is there a reason you are carrying a 6700 balance and paying what I would guess would be a decent interest payment each month?  As stated I would get that down to 3k then apply, but that is just my suggestion.

[Anonymous]

Thanks guys! Yea, it's quite high at the moment, because I've been traveling for the last three months and residing in Istanbul. I'm throwing big chunks at it, though, another $1.3K payment on 1/1/16 scheduled. Maybe the big payments will help my case for a larger SL? Here's hoping!

[Anonymous]

I app'd for the Venture earlier this month and was approved for $10K with 17.9%APR with the following stats:

$30K/year income

TU Fico: 691

Discover It: $2800 limit (24% util)

CapOne QS: $4000 limit (48% util)

1 CO (that was brand new and that I had no clue I had)

A few HP's in the past 12 months

Pre-qualified

Looking at your stats, even with the high util, I would say that you would certainly get more than the $10K I got, or at least the $10K. Of course this is just my opinion. Good luck, and let us know how it goes!

[SouthJamaica]

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@Anonymous wrote:

Firstly, I'd like to say that I've been lurking for months, and this board has been a godsend! I have a question about the relation between high utilization and low SL on new accounts. Some background on me:

J. Crew $6.700 limit / $0 balance

Capital One Platinum $10.200 limit / $6700 balance

Federal student loan in grace period

The average age of my accounts is roughly 15 years, as I only have 2 cards that have been open since my freshman year of university. The only baddie I have on my account is a CO that's been paid in full and shows as such on my CR. The only HP I would have is from a Dicover I apped for last year. My income is $68K.

So I've been pre-approved for Venture at 17.9%. Considering the only baddie on my account has been PIF, I have low/no HP on my CR, the AAoA is good, and I have a long history with Cap One with a $10K CL, what could I reasonably expect as a SL for a new Venture considering my relatively high utilization? I'd just hate to get a triple pull for a $5K limit, especially since I've already got a $10K limit through Cap One. 

Cheers in advance!

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Venture has high starting limits. At a time when my highest CL was 9900, they approved me at 20k

[signaturecardmember]

I am about to app for this and another quicksilver I think, I am not sure what limits I will get hoping for big ones to make it worthwhile and combine them, back to 12.9% pre approvals.....just helped 2 friends apply, both were pre approved at the mid tier you are at with 6 figure incomes. One got Venture with $30k limit about 700 fico and the other has probably a 650 fico with a few charge offs and old bk showing for $15k on a Quicksilver with only a couple of store cards in their name.