Thank you Capital One!

[pizza1]

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@GettingBetter2015 wrote:

I posted in the App board earlier this evening, so I will give a quick run down of my history since this is my first couple posts here...

I have current scores of 572/578/586 

I also have some derogatory info on my CR, but some of it should be falling off here very soon. 

I applied a year ago after the SCT pulled up pre-approval for a Vickie's card... Instant $500 approval which has since grown to $900 (I shop there a lot)

Last week I was making some home purchases at Macy's and the saleswoman asked if I wanted to apply for a Macy's card. I started to say no because I hate apping in store and getting turned down, however, my 6 year old kept urging me to do it, so I went for it. Approved for $300 and I have already run that much through it and paid it off already.

Yesterday, I decided I needed a major bank card in my record to help build my scores up to respectable... I figured I would only get approved for a secured card so I chose Capital One. I was approved to do the $49 deposit but chose to add $51 to make a $100 deposit. I decided for the fun of it to check their pre-approval website...It showed the  Platinum Mastercard and the Quicksilver 1. I liked the Quicksilver 1 better because of the cash back offer, but I was afraid of getting a decline. Following someone's advice, I decided to pull the trigger and app for it anyway. Instantly approved for $500! I am so excited because it finally feels like I am getting back on track! 

What should I do now though? I want the cash back, but I know I should also use the Secured card as well. Should I use the QS1 card for my everyday purchases like groceries and gas and then pay it off, and then only use the secured card for an occasional purchase like <$50 and pay it off each month? I want my credit score to grow so that I can hopefully finance a HVAC unit for our house next year.

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BIg Congrats there GB!!  Thats super!!

[Anonymous]

Ideally you want to use QS1 heavily over next 6 months to get a nice CLI I was in a similar position as you and got QS1 after having secure for about three months,  at 6 months secure card went to a 50 dollar credit limit from the 200 with 49 dollar deposit but that's the highest it ever went and cap one refuses to unsecured or graduate secured cards.  My qs1 went from 500 dollar cl to 3500 in the credit steps cli

[lg8302ch]

Congrats on your approvals.  The Cap1 QS1 is a very nice card and I would make this my daily driver.  Enjoy your cash back   Do you have like Hulu+, Netflix or something like this ? Then I would simply add this to the secured card to create a payment history on that card.  Focus on the QS1 as this is the card that can grow with you and Cap1 likes usage  

[GettingBetter2015]

Thank you both! Yes, we do have Netflix so I'll consider switching that payment over to the secured card once I get it in the mail. I'm so glad I started following these forums because they've helped so much! I really don't want to mess up my credit again, so reading these are a huge help in figuring out the right thing to do!