cancel
Showing results for 
Search instead for 
Did you mean: 

Capital One QS1 Surprise!

tag
Anonymous
Not applicable

Capital One QS1 Surprise!

Happy 4th All!

After waking up this morning and paying a few bills, I got caught up reading credit card reviews on Nerd Wallet 😁. Eager and inspired to know how well my rebuild is going, I checked the old Fico8 Scores via all 3 bureaus. Solid and continuous progress since my rebuild started in March of this year all around!

Curious about my oldest relationship (Capital One Secured Platinum - opened March 21, 2018), I decided to do a random pre-qual and there it is, pre-qualified for a QS1 -$500!!! I went ahead and accepted the offer, and card will arrive in 7-10!

How did this happen?! Previously, I had only qualified for secured products. Given that my secured account is only 90ish days old, and I thought I was in credit steps.

My question...is this approval the graduation or can I still expect a graduation in a couple of months on the secured product?? My scores across the board are up on average 120 points, but didn't realize one could qualify for a QS1, while in credit steps, with scores just below 600. I did send an email to the Capital One CEO email about a month ago lobbying for a push sooner than 5 months. They responded via snail mail basically saying no dice. Ride out credit steps....😏

Side note, my other cards, Discover IT Secured and US Bank Harley Davidson Secured, both opened after my Capital One Secured, carry small balances with 5% utilization across. I also have a Credit One Unsecured line which I paid the AF on and basically letting that account live out it's cost. Then it goes away.

Thanks in advance for your feedback!
Message 1 of 17
16 REPLIES 16
Anonymous
Not applicable

Re: Capital One QS1 Surprise!

I checked the pre-qual tool for capital one yesterday too and it qualifies me for the same card but I didn’t see a spending limit. Where’d you see that?
Message 2 of 17
Anonymous
Not applicable

Re: Capital One QS1 Surprise!

It delivered the spending limit and card delivery window after I completed the application which prefilled most details.

It then directed me to attaching the new QS1 account to my existing online setup. I see both cards and my checking and savings all together.

To be clear, I didn't see the amount until after the pre-qualified message and actual application.

Hope this is helpful.
Message 3 of 17
Anonymous
Not applicable

Re: Capital One QS1 Surprise!

Ok after the application, got it! I was like what’s wrong with mine lol
Message 4 of 17
Anonymous
Not applicable

Re: Capital One QS1 Surprise!

Hey, congrats on the new card, n! 

Message 5 of 17
CreditRebuilder2020
Frequent Contributor

Re: Capital One QS1 Surprise!

All great questions and congratulations on your credit rebuilding process.

 

You are literally a carbon copy of myself haha. I'm in a fairly similar boat.

 

I got my Capital One Secured Card with a $99 Deposit and a $200 Credit Limit last November. My credit score at the time was in the 560-570 Range across all my FICOS. After 7 months of on-time payments, my Cap On Secured turned into an unsecured Capital One Platinum card and my CL increase to $500. I was feeling nice and confident after that, so I decided to pull the trigger on the QS1 and was instantly approved, only a $300 CL but I received an email a short time ago (in fact I posted a thread about it) detailing that within 5 months of on time payments I'll get a bump from $300 to $500 in my CL. 

 

So you can still expect a graduation on that secured card, however I'm not sure on when exactly.....it seems to vary for different people. I think as long as your score keeps increasing and you get in the 600-650 range, even on the lower end of that, it will go unsecured. It happened right after my statement cut for me and I found out by logging onto the App, I didn't receive any specific notification. 

 

My EX is now at a 652 with my EQ/TU bringing up the rear around 620 - I was also able to secure an Amex Green Card before my QS1, I tried a random app and Eureka! I was approved. It's become now my main card that I run my life through and I just let everything else sit there for the most part to keep the utilization at nearly 0%. If you're looking to start a relationship with Amex, if your scores start flirting with 640-650 I would try and pull the trigger on a Green Card, the credit masters poo-poo that card, but for people in rebuilding mode. It A) Let's you establish yourself with AMEX and B) You can charge everything on it (Get MR Points ) and because it's a charge card, you keep your utilization rates on all your other cards next to nothing. It has been a great system for me for the past 1-2 months. I'm still young with my new found credit successes, albeit minor ones, but they're still successes. 

 

You are doing everything right though I must say. Keep up the good work! I'm right there with yah! Smiley Happy

 

EDIT: And on another side note, I noticed you said you had a Credit One Card, I have one also and I just got an auto-CLI after about 8 months with that card. Went from $300 to $500. As we all know this isn't a great card but for us rebuilders it can be a minor investment to keep that credit profile growing. So if you keep your balances low on that, expect to get an Auto CLI there as well. Credit One, for as bad as a reputation as they get, they did give me an email notifying me of my CLI. Anyway keep up the good work! 


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 6 of 17
Anonymous
Not applicable

Re: Capital One QS1 Surprise!

@creditrebuilder your file looks like mine except I jumped on the comenity bandwagon at the beginning of my credit journey.
Message 7 of 17
CreditRebuilder2020
Frequent Contributor

Re: Capital One QS1 Surprise!

@Bigdaddy003 Looking at your profile, very nice scores! 

 

BTW, how do you get the images of your cards in your signature? Forgive my ignorance, I'm still kinda new here


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 8 of 17
Anonymous
Not applicable

Re: Capital One QS1 Surprise!

Message 9 of 17
Anonymous
Not applicable

Re: Capital One QS1 Surprise!

CR2020, Thank you so much for the feedback. It was extremely refreshing to read your reply! You nailed it...I am literally a carbon of your efforts. AND....I am a cabron of your strategy!! A large part of my rebuild is to get in with AMEX! I need to get my foot in that door as my ultimate goal is an AMEX Platinum... regardless of the huge AF, to be the sole card of use!

Several questions......first regarding your Green Card approval, did you go directly to app or did you do a pre-qual and they return that card as a likely approval? I imagine that you can relate to your earlier days, but my HP list has grown in this rebuild process, and I'm right on the cusp of terror in that area. I've gotta play my cards right in regards to apps. I should note, I have quite an extensive history with AMEX. I have had a Business Platinum via an old employer, and I was an AU on my ex's account for many years. All positive history. Never an account of my own. Oddly, one of those accounts still show as open and positive on my CR.

Regarding Cap One, to be clear, your Secured Platinum went Unsecured and they returned your deposit leaving you with a full $500 CL? Also, you received written notice that your QS1 will go to $500 with timely payments. Is it your opinion that they even care about utilization on the QS1 given that they've made this promise?

In regards to Credit One, couldn't agree more! I have seen all the horror stories, but I have had zero issues with them. Everything they've told me has been clear and consistent. The card sucks nonetheless. I do not use the card at all due to the daily interest and no grace period drama. But, the account is open, active, and reporting positively. My belief is that a penny of interest is too much interest lol..

Right now, I am heavily using my Discover It Secured Card....$1K SL. They allowed a PC after my first statement from the 2% Discover Chrome to the regular Discover It with 5% rotating. My purchases are strategic, and I'm collecting the free money.

Side note, curious, what are your plans for Open Sky?

Thank you again for your feedback! Our stories are similar so hoping I can lean on ya for advice from time to time!
Message 10 of 17
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.