Cap One Pre-approval

[Kayceegee]

So I am 1 1/2 years post bk chapter 7 and I applied to cap one and got the mastercard with the CL 3000, it has been 100 days since then & I got pre approved for the quicksilver & quicksilver one. I dont see much a difference, can anyone explain the difference between the two? Also should I apply and keep my mastercard or call for a pc? My goal is to eventually get one of their venture travel cards & also chase once my bk falls off.

[CreditPacMan]

There's really no big difference except for the APR .. it's a bit higher on the QuickSilver one for fair credit. 

[FLLGuy]

---

@Kayceegee wrote:

So I am 1 1/2 years post bk chapter 7 and I applied to cap one and got the mastercard with the CL 3000, it has been 100 days since then & I got pre approved for the quicksilver & quicksilver one. I dont see much a difference, can anyone explain the difference between the two? Also should I apply and keep my mastercard or call for a pc? My goal is to eventually get one of their venture travel cards & also chase once my bk falls off.

---

@Kayceegee  based on the feedback and research from the forums, i'll do my best to give you the 100ft view:

• Quick Silver One:
  • Contains $39 annual fee
  • No Intro bonus
  • Can be very challening for Product Upgrade later on.  Meaning, wanting to remove the annual fee.
  • Potentially doesn't grow as quickly as the "good credit - Quick Silver"
  • May or may not be bucketed (difference in experiences reported here) or take longer to get bigger limits.
• Quick Silver:
  • This is the preferred choice NO ANNUAL FEE
  • Easier to upgrade towards Venture
  • Includes intro bonus
  • Potentially grows quicker with bigger limits (dependent on responsible use and payment)

Overall consensus here is "Go for the good credit - "Quick Silver".  

[Anonymalous]

Agree that the QS is a better choice than the QS1, because of the lack of an annual fee.

But a product change might be a good idea. Is your current card a Platinum? With a decent CL like that, you're clearly not in the bottom bucket. So if you upgrade, you won't end up stuck with a terrible credit line. The advantage of the upgrade is your avoid the 3 hard pulls on your credit score. And if the alternative is the QS for good credit, you're not losing any intro bonus. Though you probably want to wait until your card is 6 months ago before you try.

[Kayceegee]

---

@FLLGuy wrote:

---

@Kayceegee wrote:

So I am 1 1/2 years post bk chapter 7 and I applied to cap one and got the mastercard with the CL 3000, it has been 100 days since then & I got pre approved for the quicksilver & quicksilver one. I dont see much a difference, can anyone explain the difference between the two? Also should I apply and keep my mastercard or call for a pc? My goal is to eventually get one of their venture travel cards & also chase once my bk falls off.

---

@Kayceegee  based on the feedback and research from the forums, i'll do my best to give you the 100ft view:

• Quick Silver One:
  • Contains $39 annual fee
  • No Intro bonus
  • Can be very challening for Product Upgrade later on.  Meaning, wanting to remove the annual fee.
  • Potentially doesn't grow as quickly as the "good credit - Quick Silver"
  • May or may not be bucketed (difference in experiences reported here) or take longer to get bigger limits.
• Quick Silver:
  • This is the preferred choice NO ANNUAL FEE
  • Easier to upgrade towards Venture
  • Includes intro bonus
  • Potentially grows quicker with bigger limits (dependent on responsible use and payment)

Overall consensus here is "Go for the good credit - "Quick Silver".  

---

Thank you so much for this breakdown! I truly appreciate it!

[Kayceegee]

I definitely can wait 6 months I only have this card & secured with regions. Do you think it would be beneficial to add a card to my credit line up in the mean time?