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A Couple Credit Card Questions

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Calculon
Valued Member

A Couple Credit Card Questions

Hello Gals and Guys -

 

I have two credit cards right now, a Discover IT($750) and Capital One Platinum($2,000, upped from $500 three or four months ago).  I've had the Capital One for a year and the Discover 10 months.  All payments have been made on time.   I'm happy with the Discover and like the free credit score, but I'm getting offers in the mail for the Capital One Quicksilver card.  I'm wondering whether if I call them they'd flip me over to the Quicksilver card or I would have to apply for that, then close the discover card?  It seems like the Quicksilver card has better cashback, which is I'm after.

 

I'd also like to apply for the Amex Blue Card, mainly for the 6% cashback on groceries and 3% on gas.  According to my Discover card, my credit score is 720, which is good considering it was zero a year and a half ago when I got my car loan.  I paid off my car loan last year and the only real debt I have is my credit cards, which is usually less than $500 at any given moment.  So I'm wondering whether I should apply now or wait six more months and let my score build up some more?  Any and all help greatly appreciated.  Thanks.

QSD ITAMEXDCFRSM
Message 1 of 15
14 REPLIES 14
-Wade-
Valued Contributor

Re: A Couple Credit Card Questions


@Calculon wrote:

Hello Gals and Guys -

 

I have two credit cards right now, a Discover IT($750) and Capital One Platinum($2,000, upped from $500 three or four months ago).  I've had the Capital One for a year and the Discover 10 months.  All payments have been made on time.   I'm happy with the Discover and like the free credit score, but I'm getting offers in the mail for the Capital One Quicksilver card.  I'm wondering whether if I call them they'd flip me over to the Quicksilver card or I would have to apply for that, then close the discover card?  It seems like the Quicksilver card has better cashback, which is I'm after.

 

I'd also like to apply for the Amex Blue Card, mainly for the 6% cashback on groceries and 3% on gas.  According to my Discover card, my credit score is 720, which is good considering it was zero a year and a half ago when I got my car loan.  I paid off my car loan last year and the only real debt I have is my credit cards, which is usually less than $500 at any given moment.  So I'm wondering whether I should apply now or wait six more months and let my score build up some more?  Any and all help greatly appreciated.  Thanks.


Call cap 1 and see if they can give you the PC! As for Discover I would not close it they have the 5% cat. And shop Discover also it will grow

"Garden Club Member " Old user name newportguy*** Current Score: myFico EQ - 830 (07/16/2015) Discover TU Fico - 833 (09/03/2016) EX Fico - 839 ( 09/01/2016 ) ******* Amex - BCP 11.5K * Discover - IT 43.5 K * U.S. Bank Cash + Visa Signature 15.3 K * PenFed - Cash Rewards 15K *PenFed Power Cash 19K ** Amex - GDSM 10K ******FICO 800 Club Member ******* EQ 830 *** TU 833 *** EX 839 ***
****** Last HP & New TL was March 6th 2014 *** GOAL: No HP's or New TL's for 2 + years and 840's Scores ******
Message 2 of 15
Calculon
Valued Member

Re: A Couple Credit Card Questions

Thanks for the reply.  I'm not sure what PC means.  I have no plans to close the Discover.

QSD ITAMEXDCFRSM
Message 3 of 15
enharu
Super Contributor

Re: A Couple Credit Card Questions

PC = product change. Email capital one executive office for that. Google search for the email address. You should be able to convert.

I think your chances for the BCP / BCE is good. Just make sure your utilization is low when you are applying.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 4 of 15
Anonymous
Not applicable

Re: A Couple Credit Card Questions

Discover offers specials from time to time. For myself in the last 18 months they have given me five months where I get a minimum of 2% (instead of 1%) on everything. Others on this site have reported other specials. It sure has made my experience with them even better. The CL grows over time by either auto CLs, SPs or HPs.
Message 5 of 15
irrational
Frequent Contributor

Re: A Couple Credit Card Questions

Yes, I agree with the above statement, you have a great chance of getting the BCP from Amex. The worst that'll happen is they'll pull your report(s) and give you a list of things to work on... But, I think you'll be approved.

Current Score: TU (discover) 720 - 6/29/14 | EQ (score watch) 777 - 7/19/14 - Last App 7/21/14

NPSL          |      $27,600         |      $15,000      |      $7,000      |     $2,800     |      $11,000    |      $13,530      |      $5,200
Message 6 of 15
coldnmn
Mega Contributor

Re: A Couple Credit Card Questions

I agree with the others! To help with abbreviations at the top of the credit card page there is a post helpful threads, in there is a list of common abbreviations. Good luck in your credit journey!

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $15k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $10.8k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $5.35k / Citi DC (WMC) $12k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Message 7 of 15
takeshi74
Senior Contributor

Re: A Couple Credit Card Questions


@Calculon wrote:

I'm wondering whether if I call them they'd flip me over to the Quicksilver card or I would have to apply for that, then close the discover card?


You'd have to call to find out.

Message 8 of 15
Creditaddict
Legendary Contributor

Re: A Couple Credit Card Questions

1. you can log in online at capital one and go to "Modify my features" button and see if you are eligible to PC to quicksilver... if not, google capital one ceo and email him and they will do it.

2. call discover and ask if you could get a sp cli

3. apply for a 3rd card (i agree with amex.)

Message 9 of 15
Themanwhocan
Senior Contributor

Re: A Couple Credit Card Questions


@Calculon wrote:

Hello Gals and Guys -

 

I have two credit cards right now, a Discover IT($750) and Capital One Platinum($2,000, upped from $500 three or four months ago).  I've had the Capital One for a year and the Discover 10 months.  All payments have been made on time.   I'm happy with the Discover and like the free credit score, but I'm getting offers in the mail for the Capital One Quicksilver card.  I'm wondering whether if I call them they'd flip me over to the Quicksilver card or I would have to apply for that, then close the discover card?  It seems like the Quicksilver card has better cashback, which is I'm after.

 

I'd also like to apply for the Amex Blue Card, mainly for the 6% cashback on groceries and 3% on gas.  According to my Discover card, my credit score is 720, which is good considering it was zero a year and a half ago when I got my car loan.  I paid off my car loan last year and the only real debt I have is my credit cards, which is usually less than $500 at any given moment.  So I'm wondering whether I should apply now or wait six more months and let my score build up some more?  Any and all help greatly appreciated.  Thanks.


You have to spend more than $75 a week on groceries before the BCP is better than the Sallie Mae Mastercard. And the Sallie Mae earns much more cash back on Gas purchases. If you buy things from amazon.com or other bookstores, then its a home run.

 

Its the $75 annual fee on the BCP, you can't earn more than 4.75% cash back on groceries, and you have to spend exactly $6000 a year on groceries alone to achieve that rate. Spend, say, $4800 a year on grocery, and $$1200 on gas, and you only earn 4.15% cash back.





TU-8: 804 EX-8: 805 EQ-8: 788 EX-98: 767 EQ-04: 752    
TU-9 Bankcard: 837 EQ-9: 823 EX-9 Bankcard: 837
Total $443,800
Message 10 of 15
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