I've been a lurker for a couple months now and decided to start posting and updating my progress.
Credit Score at the time of Approval
TU - 550
**1-2 inquiries per bureau within the last 6 months.
** 2 Repos, 4-6 collections listed on each Credit Bureau.
I was approved for a Capital one Quicksilver 1 With a starting limit of $300.00.
I'm pretty excited as this is my first unsecured card during my rebuild . I want to maximize my potential with this card, so I guess I have a couple of quick questions.
#1 What is highest limit I should ever expect to obtain on my QS1?
#2 Can I request a CLI while im in the credit steps program and how soon can I request the first one? (Online, I will get an auto CLI after 6 payments to $500.00.)
I've been running every purchase for everything on the card, and paying the card off daily. If my posted balance monday might is 42.00, I submit a payment for 42.00.. Im my balance is 100.00 on tuesday, I pay 100.00. I'm not sure what outcome I'll have, but I spend a lot of money and the 1.5% back will be appreciated even if they cap my spending limit.
Current Scores 12/10/2018
TU - 612
EX - 644
Thank you all for your time.
Congrats If it weren’t for capital one I wouldn’t be were I am today ...They are great for getting your credit going again .....
The max limits vary too much person to person for me to comment on but for credit increases u can ask for one every 6 months...Even if it’s a auto increase like the one u will receive after ur first 6 months u still need to wait another 6 months for another increase
180 Days for lower limits (500-1000) was stated, so you may not have to wait the full 6 months, its worth a try
Welcome to the forum! We appreciate you joining us!!!
Super Congrats on your Cap One Quicksilver 1 $300 SL!
You're off to a terrific start, and the card will grow with time.
Wow. Your FICO scores really climbed after getting the QS1!
Paying your bills on time (35%) and keeping your utilization
really low (30%) comprises 65% of your scores. So keep it simple
and keep doing what you're doing because it's working. Well done!
I'm not sure what the max limit is for a QS1. What I can say
is that you should seriously consider doing a product change
at the 6 month mark from a QS1 ($39 AF) to a Quicksilver with
no annual fee. Same 1.5% cash back. Stay on track and your scores
should easily climb into the high 600s by then across the board.
Congrats again on your success. Thanks so much for sharing!
|Total Credit: $240,100||Credit Utilization: 1%||AAoA: 5 years, 7 months||Installments: Car Lease, Marcus Loan||Negatives: 0|