No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
So id like to keep going with Cap1 as they have helped me a lot this last year and a half . What is there best card ? I guess i would only need rewards type card not miles. Used to be card companies had a gold card didnt they? But I see all kinds of Cap1 cards on there site none which say allows the highest credit line or which is there most prestigous card. Thanks
What is the best CAP 1 card can be different from person to person. If you are only looking for cashback the nthe Quicksilver is a very good option.
Ok thanks for the info. Is there a signature card ? World Elite card at Cap1?
I dont really use the Cap1 secured card anymore but will keep it forever as they helped me turn my credit around and respect them for that. I have a $1k limit on it . How much can i run the limit up ? Im thinking i could acutally buy a better credit score by adding a few thousand to the card in effect helping my utilization. Whats your thoughts? Thanks
I wouldn't consider Captial One Quicksilver. I only have it because I didn't know much about credit this last spring. I would jump on the highest cash back rewards such as Discover it (5% cash back depending on category chosen), Citi Double Cash Card (2% cash back, 1% when purchased and 1% when paid), American Express Blue Every Cash (3% cash back on groceries) and Barclay Reward (2X cash back on utilities, gas, and groceries).
Capital One Quicksilver is only 1.5% cash back. Also, some of the cards above have cash back sign up bonuses for spending x amount in 90 days. I don't know about QS as it was a product change for me which only new applicants qualify for.
I don't believe in loyalty. I believe in going after the best offer.
If it wasn't for my ignorance, I would have had Chase Freedom with the $200.00 sign up bonus as well, but I already have 5 new credit lines opened in the last 24 months, so I couldn't even consider applying as the application would be automatically rejected by their system.
@Anonymous wrote:So id like to keep going with Cap1 as they have helped me a lot this last year and a half . What is there best card ? I guess i would only need rewards type card not miles. Used to be card companies had a gold card didnt they? But I see all kinds of Cap1 cards on there site none which say allows the highest credit line or which is there most prestigous card. Thanks
Wow... there's a lot of questions in that small paragraph!
First of all, you're right about the 'gold cards' being all the rage a few years ago... back then, just the color meant something; generally "gold cards" were the more prestigious cards banks had to issue. Those days are past, though. Honestly the only 'gold' card I can think of off the top of my head are the Amex 'Gold' cards. They are nice, but not nearly as exclusive as they once were.
With Capital One, their 'flagship' at the moment is the Venture. It's issued as a Visa Signature, with credit lines of $5k or higher. I'm not familiar with folks getting approved for a new Venture with a CL less than $5k, but it might happen... that being said, some folks have PC'd an existing card to Venture, so a Venture with a CL less than $5k might be attainable, but it's not common.
Venture is primarily a 'travel' card, since the cash rewards it accumulates are redeemed at the highest value against travel purchases (2%). Redemption for any other purchases is generally at half-value, or 1% (I say 'generally' because there are some work-arounds, but that's beyond the scope of this post). The Venture also has a 40,000 mile sign up bonus if you spend $3k the first 90 days, which is worth $400 (again, on travel expenses). There's also a $59 annual fee (waived the first year) to consider as well.
The Quicksilver card is probably the most popular, since the Visa version has no AF and is a straight 1.5% cash back, payable as a statement credit, check, or pretty much any way you want to get it. You can also redeem any amount at any time, which is unlike many other cards.
The Quicksilver One is the MasterCard version of the Quicksilver, but it has a AF of $39, and generally is approved with lower starting limits than the 'regular' Quicksilver. Other than the annual fee and the historically lower starting credit lines, the card is the same as the Quicksilver Visa (same rewards, etc.)
Finally, there is the Platinum MasterCard. This card doesn't have any rewards, but is usually (for many, including myself) offered at a slightly lower APR than any of the other cards. This card can be either AF or no AF, depending on your credit profile, but the pre-qual page will generally indicate which you will get. Many people have been successful at PC'ing this card to the Quicksilver after a few months, but as with many things credit YMMV.
Comparing the Venture and Quicksilver is fairly straight-forward. The bonus on the Venture is rather nice, but after the first year you'll need to spend $12k on it to make it worth more than the Quicksilver. Some folks get the Venture for the larger initial credit line and the bonus, then plan to attempt to PC it after the first year to a no-AF card. Again, this does work many times, but YMMV.
I personally really like the simplicity of the Quicksilver Visa. It also has a bonus ($100) after spending $500 the first 90 days. It's rewards are straight-forward, and you don't have to be concerned with getting it changed later to avoid an AF.
As for your secured card, I understand your being sentimental about it, but it looks like you're about to outgrow it (if you haven't already). Once it's served it's purpose, it's time to let it go and move on to a more suitable product. While it did help you before, you don't want to let it hold you back now!
Hope this helps!
Thanks Uncle B !!! Very Helpful! Im liking the Quicksilver Visa you mentioned. I dont think I can get it yet but will work that way. I have the Cap1 secured with a $1k limit and a Unsecured Cap1 Platinum with a $2k limit. Also a Homedepot $500 and Sunoco $500. I am only up to 658'ish with fico's. I will wait till im up to 700 and see if they will give me the Quicksilver Visa? Ive read you can only get two Cap1 cards ??
@Anonymous wrote:Im liking the Quicksilver Visa you mentioned. I dont think I can get it yet but will work that way...I am only up to 658'ish with fico's. I will wait till im up to 700 and see if they will give me the Quicksilver Visa?
Use the Credit Pulls Database (search for it). There are people who were approved for the Quicksilver VISA with scores under 650. A person was also approved for the Quicksilver One with a score under 600.
@Anonymous wrote:Thanks Uncle B !!! Very Helpful! Im liking the Quicksilver Visa you mentioned. I dont think I can get it yet but will work that way. I have the Cap1 secured with a $1k limit and a Unsecured Cap1 Platinum with a $2k limit. Also a Homedepot $500 and Sunoco $500. I am only up to 658'ish with fico's. I will wait till im up to 700 and see if they will give me the Quicksilver Visa? Ive read you can only get two Cap1 cards ??
With a FICO in the 650s the QS Visa might be questionable. Check out the Capital One pre-qual web site... the offers there are generally solid, and it will even give you the APR you'll likely be approved for.
There have been folks who would 'cold app' for either Venture or QS (meaning, there was no pre-qual offer for that particular card) and they were approved, but it's considered a bit more 'risky' by most folks, and if you're trying to conserve your HPs it generally isn't recommended. (Also remember that any Capital One application results in a hard credit pull (HP) on each credit bureau, for a total of three).
As for the number of Capital One cards you're allowed to have, I'll have to let others speak to that. Some folks say you can have two sub-prime and four prime, other folks say the EO has told them there's no such limit. I honestly can't speak from experience, so I'll leave that one to the folks who can.
QuickSilver Signature is hard to beat.
a lot of the 5% this and 3% that are ofter very limited and have 1% everything else.
For example the 5% Discover has a max cash back of a whopping $25 per month.
I get $100 per month with Cap One.
No min, no max, acct credit within 2-3 days... Works for me.
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!