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Capital One QS1 - Approved!

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CreditRebuilder2020
Frequent Contributor

Capital One QS1 - Approved!

Rebuilder here.....Starting to graduate to real cards. What a past few months it has been for me. 

 

I had an OpenSky Secured, Credit One, Capital One Platinum Secured, and a Discover IT Secured card for nearly 2 years after gathering them all close to each other 2 years ago. 

 

In April I decided to spring for an AMEX Green Card, was approved with all my Big 3 FICO's in the Mid 600's 

 

I just had my Capital One Platinum Card go unsecured and got a $500 Spending Limit. It was at $200 before when I had it Secured. 

 

Annndddddd I was feeling a bit frisky, wanted to expand my "Real card" portfolio as I like to call them. I went for the Capital One Quicksilver One Rewards and was APPROVED. $300 SL. Still low of course, but I'm working my way out of secured card territory and I plan on keeping really low balances then hopefully in a short bit can upgrade to a Quicksilver w/o the annual fee. Just being able to have legit cards in my wallet and slowly weening myself off of secured cards and that frustrating process. 

 

Now I am definitely back in the garden. Been doing a lot of spend on my Amex Green and plan on shelving my Cap One Platinum and doing spend on the QS1 when it arrives in 7-10 Days. 

 

All 3 FICOS between 630-650 - Few charge off's from several years ago on my account. Also a history of going south on Student Loans but have recovered and rehabbed those with 2 1/2 years of on-time payments. 

 

Cheers! Smiley Very Happy


X1 VISA SIG $15,500/ AMEX Gold / Petal 1 $3600 / Wells Fargo Active Cash VISA $3K / VENMO Visa $900 / Verizon Visa $2K / Apple Card $1500 SL / Wyndham Rewards Earner Visa $500 / WALGREENS Store $1K / Amazon Store $5000 SL/ Discover IT Chrome $2500K / BP Prime Rewards VISA $4350 / PayPal MC $3500 / BOA BankAmericard $2K / BOA Cash Rewards $1K / Cap One Savor One $1200 / Cap One QS1 $950 / Blaze MC $2250 / Credit One $850 / Credit One AMEX $1200 / OpenSky $600 / AvantCard $1000 / Discover IT Cash Back (Graduated) $400 / eBay MC $750
FEB '22 EX: 698 EQ: 700 TU: 713 | UTL: 23% | Total Credit Limit: $54000
Goal Score: 675 for all FICOS (ACHIEVED NOVEMBER 2021) | NEW GOAL SCORE: 725 for ALL FICOs
Message 1 of 21
20 REPLIES 20
Brian_Earl_Spilner
Credit Mentor

Re: Capital One QS1 - Approved!

Nice job, you can go to capitalone.com or call in to try for an upgrade on your platinum to one of their other cards. That's how I got my qs. Plan to roll the qs1 into it once it's paid off. I did 4 months after getting my platinum. I also got a CLI on it a week later even though it was still in the credit steps program.

    
Message 2 of 21
Anonymous
Not applicable

Re: Capital One QS1 - Approved!

How did you get your platinum to unsecure? Did you request it? Congrats, btw! 👍 Fingers crossed for good CLIs in the future 😁
Message 3 of 21
CreditRebuilder2020
Frequent Contributor

Re: Capital One QS1 - Approved!

 


@Anonymous wrote:
How did you get your platinum to unsecure? Did you request it? Congrats, btw! 👍 Fingers crossed for good CLIs in the future 😁
When my 7th statement cut a few weeks ago, I had a balance of $20,  I go to pay that off and I see I have $480 Credit Available. 
So of course I freaked, I actually went on my account on my computer and did a chat with customer service, they told me the card was unsecured now and my limit increased to $500. They did tell me though it wouldn't fully reflect on my account for another two weeks, for instance if I go to CLI, it says my card is still secured. Next month's statement my initial $99 is being refunded. 
I always paid it off or either had $25-$30 as my balance. 
 

X1 VISA SIG $15,500/ AMEX Gold / Petal 1 $3600 / Wells Fargo Active Cash VISA $3K / VENMO Visa $900 / Verizon Visa $2K / Apple Card $1500 SL / Wyndham Rewards Earner Visa $500 / WALGREENS Store $1K / Amazon Store $5000 SL/ Discover IT Chrome $2500K / BP Prime Rewards VISA $4350 / PayPal MC $3500 / BOA BankAmericard $2K / BOA Cash Rewards $1K / Cap One Savor One $1200 / Cap One QS1 $950 / Blaze MC $2250 / Credit One $850 / Credit One AMEX $1200 / OpenSky $600 / AvantCard $1000 / Discover IT Cash Back (Graduated) $400 / eBay MC $750
FEB '22 EX: 698 EQ: 700 TU: 713 | UTL: 23% | Total Credit Limit: $54000
Goal Score: 675 for all FICOS (ACHIEVED NOVEMBER 2021) | NEW GOAL SCORE: 725 for ALL FICOs
Message 4 of 21
avp99
Frequent Contributor

Re: Capital One QS1 - Approved!

Congrats!  that card will grow with some TLC.


Message 5 of 21
austingal
Regular Contributor

Re: Capital One QS1 - Approved!

You're doing great. They started me with an unsecured regular Cap One Platinum with a limit of $300 a little less than 2 years ago. They have given me CLIs (without my asking for them) to where I have a limit of $750 now. And a couple of months ago they sent me an email offering to do a product change to a Quicksilver with no annual fee. I took them up on that. Cap One has been very good to me. They gave me this card at $300 unsecured at a time when Discover wouldn't even approve me for a secured card.

Message 6 of 21
Anonymous
Not applicable

Re: Capital One QS1 - Approved!

Congrats

Message 7 of 21
Kevin5974
Frequent Contributor

Re: Capital One QS1 - Approved!

Nice job. Always feels good when you get out of the secured card phase.

Heres what I would do, looking back on my credit rebuild phase: Cancel CreditOne. Horrible card and screw what it does to you AAoA. Next, sock drawer the rest but make payments you can AFFORD (but not utilize cards) and have a plan to pay them off. I would run everything you can through Amex Green. As Amex sees you charging and paying off, I have no doubt a nice revolver with a good limit, could be had after 6 months. By then, your other cards should have moderate to low balances left. Once you apply for an Amex revolver after 6 months, it should pull as a soft inquiry.

Think of where youll be with low balances, 6 months more of history, and no inquiries for 6 months. I know how many inquiries we rack up during the rebuilding phase.

Play this smart. Best of luck and great job on your progress.

Starting Score: 475
Current Score: 649
Goal Score: 690


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Message 8 of 21
CreditRebuilder2020
Frequent Contributor

Re: Capital One QS1 - Approved!


@Kevin5974 wrote:
Nice job. Always feels good when you get out of the secured card phase.

Heres what I would do, looking back on my credit rebuild phase: Cancel CreditOne. Horrible card and screw what it does to you AAoA. Next, sock drawer the rest but make payments you can AFFORD (but not utilize cards) and have a plan to pay them off. I would run everything you can through Amex Green. As Amex sees you charging and paying off, I have no doubt a nice revolver with a good limit, could be had after 6 months. By then, your other cards should have moderate to low balances left. Once you apply for an Amex revolver after 6 months, it should pull as a soft inquiry.

Think of where youll be with low balances, 6 months more of history, and no inquiries for 6 months. I know how many inquiries we rack up during the rebuilding phase.

Play this smart. Best of luck and great job on your progress.

We're on the same page. These forums are so helpful. Thank you for that and you're totally right. Rebuilding is such a marathon....just have to stay committed to the process. Smiley Wink


X1 VISA SIG $15,500/ AMEX Gold / Petal 1 $3600 / Wells Fargo Active Cash VISA $3K / VENMO Visa $900 / Verizon Visa $2K / Apple Card $1500 SL / Wyndham Rewards Earner Visa $500 / WALGREENS Store $1K / Amazon Store $5000 SL/ Discover IT Chrome $2500K / BP Prime Rewards VISA $4350 / PayPal MC $3500 / BOA BankAmericard $2K / BOA Cash Rewards $1K / Cap One Savor One $1200 / Cap One QS1 $950 / Blaze MC $2250 / Credit One $850 / Credit One AMEX $1200 / OpenSky $600 / AvantCard $1000 / Discover IT Cash Back (Graduated) $400 / eBay MC $750
FEB '22 EX: 698 EQ: 700 TU: 713 | UTL: 23% | Total Credit Limit: $54000
Goal Score: 675 for all FICOS (ACHIEVED NOVEMBER 2021) | NEW GOAL SCORE: 725 for ALL FICOs
Message 9 of 21
19eighty5
Senior Contributor

Re: Capital One QS1 - Approved!

Congratulations on your jounrney! It's really encouraging to hear these kinds of stories.

FICO 8 (Feb 2018):EX- 519, TU- 530, EQ- 545
FICO 8 (Sept 2022):EX- 706, TU- 685, EQ- 684
What's in my wallet:


Message 10 of 21
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