Hello! I am new to the forum but have read things on here for months now. I had a BK Ch7 in 2013 and have slowly been rebuilding. I bought my first house Feb 2016. I currently have Barclay ($3900) Best Buy ($1500) AFCU local credit union ($2000 with my wife) and Discover It Card ($1700) I havent had a HP for over 8 months so I decided to start new year with a good one. I tried for Capital One as many of you have stated its good for rebuilding and getting high CL. Just got an instant approval (still never get over that feeling because for years it wasnt that way) for $2k! Super stoked!! What do you guys reccomend for getting higher lines? Balances follow Barclay ($2500) Best Buy ($800) AFCU ($0) Discover ($1300) should I pay off all and then request increases? Can I call Captial one and ask for a bigger line?
Use it and pay it off frequently seems to work well for Capital One. Once your account is 60-75 days old you can ask for a CLI. will be a soft pull for Cap 1. Once you receive one, you may be able to get another at 6 month increments
Thanks for the quick response. I appreciate it. Yeah I am hoping to have all but $100 paid off on each revolving to keep some kind of a balance. I use the Discover card because of the 1% cash back (2% the first year) so now that this one is a 1.5% cash back it will probably replace that one.
Cap One has a formula and you can't veer from it. Or rather they won't veer from it.
Is your account in credit steps?
If so, after your 3rd or 4th statement cuts, ask for an increase. Then at 6 months from opening you should get an automatic increase--your "steps" increase. After that it's every 6 months.
CO seems to like high usage and large payments.
I dont know if its in the Steps program. I just got an approval online about ano hour ago. How can I tell? Also side question. Do you reccomend transfering my paypal credit to this new Card and then pay it off in 2-3 months?
Ok it has an AF of $39 so Credit Steps it is.
If you have a QS 1, it will be in credit steps; if it's a regular (no AF) QS it won't be in credit steps
What do you mean by transfer your PayPal credit??