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!
Congratulations on your approval!
|Total Credit: $240,100||Credit Utilization: 1%||AAoA: 5 years, 7 months||Installments: Car Lease, Marcus Loan||Negatives: 0|