Hello!
Goal cards are WF Autograph, US Bank Cash+ and Citi Custom Cash. None of which I currently qualify for and likely won't for awhile. Profile information below but scores are rubbish. Recently signed up for WF Fico, last FICO 9 EXP score was 618 (yikes), not sure about others. Currently have five cards, all with reported balances but three of which I am letting report $0 for March. Wayfair is on a 0% APR until late 2024 so not in a rush to pay it off, Discover is an AU card with a $12,000 limit and $3400 balance reporting. I never use it but I don't want to remove it bc it was opened in 2009 and has perfect payment history. These two will continue to report a balance. Discover and Wayfair are the only cards over $3k, Target now a skosh over $1k after a small CLI.
Initially I planned on seeing how credit progresses over the next six months and reassess the situation but the 11 lates and collection dragging my scores down should all fall off in 2024 so maybe it would be best to simply wait until that happens before attempting to apply for goal cards? In the meantime, would it be a bad idea to apply for VentureOne next month once there are only two balances reporting out of the five? How accurate is this pre-approval and am I likely to get another low limit since its only for "good" credit? Its the only other Cap One card I'd like, kept checking pre-approvals but would only get QS, SavorOne and Platinum until today.
Thanks in advance for any assistance and feel free to ask whatever questions are needed.
AAoA: 4 years, 3 mo
Inqs: TU = 1, EX = 1, EQ = 2
Scores: roughly 680 ish per CK (rubbish)
Utilization: 62%
Loans: $15,648 deferred student loans
Derogatory Items: 1 collection for $3300 due to fall off in 2024, 11 late payments from 2018 on a car loan 100% paid off - Edit: only 5 lates are reporting, I guess the 6 from 2017 are no longer considered
@49erFaithful85 wrote:Derogatory Items: 1 collection for $3300 due to fall off in 2024
Who is the collection with? Will they Pay for Delete? Would you be willing to if they will offer that?
You will get a vastly better result if you can get that collection removed. and a better result if you can settle that balance to $0.
I'm not exactly sure the lowest limit on a Venture One though, I'm not sure if it's $500 or higher. Why Venture One and not Quicksilver?
@GZG wrote:
@49erFaithful85 wrote:Derogatory Items: 1 collection for $3300 due to fall off in 2024
Who is the collection with? Will they Pay for Delete? Would you be willing to if they will offer that?
You will get a vastly better result if you can get that collection removed. and a better result if you can settle that balance to $0.
I'm not exactly sure the lowest limit on a Venture One though, I'm not sure if it's $500 or higher. Why Venture One and not Quicksilver?
Medical Collection (thought I had coverage, former employer cut it off a couple weeks before procedure) - Asked and refused pay for delete option in 2020 - since its nearly ready to fall off I wouldn't go out of my way to pay it, especially since I don't feel it should be my responsibility but thats another story, if it were a reduced amount and removed then I'd consider
I've seen QS "good" credit limits commonly start around the $300 and $500 range, haven't noticed that with VentureOne (could be wrong). Like the travel portal, Venture is out of my league and this link https://thepointsguy.com/guide/capital-one-travel-portal/
explained the process pretty well so that was another reason. Planning to book a flight to London within the next three months but if the limit is going to be under $1k (such as my SavorOne which I could use with the portal now if not for the limit) then it won't really help with this flight. Might be nice to have one more card reporting an excellent payment history in any case but idk if its worth it.
Still new to this! Thanks for the help though. 
@GZG wrote:
@49erFaithful85 wrote:Derogatory Items: 1 collection for $3300 due to fall off in 2024
Who is the collection with? Will they Pay for Delete? Would you be willing to if they will offer that?
You will get a vastly better result if you can get that collection removed. and a better result if you can settle that balance to $0.
I'm not exactly sure the lowest limit on a Venture One though, I'm not sure if it's $500 or higher. Why Venture One and not Quicksilver?
Cap1 tends to have a lower floor with Quicksilver starting limits versus VentureOne. While we all know about the not so uncommon $500 QS limits, VentureOne IIRC has DPs suggesting a $1k floor...despite having fewer V1s over $10k than QS, but I don't think it's to do with the underwriting so much as their just being fewer prime customers willing to kep a V1 around.
@49erFaithful85 wrote:
@GZG wrote:
@49erFaithful85 wrote:Derogatory Items: 1 collection for $3300 due to fall off in 2024
Who is the collection with? Will they Pay for Delete? Would you be willing to if they will offer that?
You will get a vastly better result if you can get that collection removed. and a better result if you can settle that balance to $0.
I'm not exactly sure the lowest limit on a Venture One though, I'm not sure if it's $500 or higher. Why Venture One and not Quicksilver?
Planning to book a flight to London within the next three months but if the limit is going to be under $1k (such as my SavorOne which I could use with the portal now if not for the limit) then it won't really help with this flight.
If you enable the ability to go overlimit on your card, you might get the opportunity to 'confirm purchasing power'
and see if a transaction over your limit might be approved
@GZG wrote:
@49erFaithful85 wrote:
@GZG wrote:
@49erFaithful85 wrote:Derogatory Items: 1 collection for $3300 due to fall off in 2024
Who is the collection with? Will they Pay for Delete? Would you be willing to if they will offer that?
You will get a vastly better result if you can get that collection removed. and a better result if you can settle that balance to $0.
I'm not exactly sure the lowest limit on a Venture One though, I'm not sure if it's $500 or higher. Why Venture One and not Quicksilver?
Planning to book a flight to London within the next three months but if the limit is going to be under $1k (such as my SavorOne which I could use with the portal now if not for the limit) then it won't really help with this flight.
If you enable the ability to go overlimit on your card, you might get the opportunity to 'confirm purchasing power'
and see if a transaction over your limit might be approved
Great suggestion. It seems I can go up to $900, $200 over the current limit. Not quite enough but definitely helpful information. I'll think this over for a few weeks.
Cap1 pre-approvals have a reputation of being legit; I'm unfamiliar with the VentureOne approval criteria.
Best wishes on getting a clear answer to your ?
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@SweetCreditObsession wrote:Cap1 pre-approvals have a reputation of being legit; I'm unfamiliar with the VentureOne approval criteria.
Best wishes on getting a clear answer to your ?
@SweetCreditObsession Now that reports have updated I'm getting a recommendation for Venture + bonus but VentureOne for "good credit" only. Isn't Venture on the excellent credit level? Do you think I have a decent chance for VentureOne + bonus? All these Cap One tiers and different pre-approvals are confusing. 😖
