What steps should I Take?

Anonymous · ‎12-29-2015

I currently have 3 cap one cards, one QS1 with a 1700 limit and two secured cards at 800 a piece, I also have a first progress secured for 300, credit one for 450, Gamestop/Comenity for 750, Walmart for 500, Jc Penney for 500, Amazon for 600. My credit score all around is averaging low 600s unless its the new model which is around 630 eq 617 tu and 647 Exp but i have rarely seen anyone use. What is the best route i can take to get CLI and maybe improve my relationship with Cap One and get rid of secured and go secured route?

crrredit · ‎12-29-2015

You've broken the ice for getting unsecured credit. Secured CLIs won't grow unless you send them more cash, and with the Cap One secured cards, you won't be able to do that anymore. Trade them out for unsecured. You won't be able to get another builder card from Cap One (surprised you managed to get three, usually they limit you to two) until you close one, probably two of your secured cards.

1. Close Credit One--you have an unsecured card so no need for this predator to get any more of your cash

2. Pay all cards to $0 except QS1. Let that report a small balance, below 10%.

3. Close the two Cap One secured cards.

4. Apply for a Cap One Platinum

5. Check prequal sites for a third unsecured card offer

6. When you get one, close First Progress (I don't follow my own advice here. I have two unsecured cards and have kept all three secured. First Progress is one of them.)