Capital One Question

Anonymous · ‎06-15-2017

I got a Capital One Platinum 6 months ago. At the time my scores were hovering around the 560s. It started with a $300 SL and through credit steps went to $750. I keep the utilization down and have paid at least 3x minimum payments each month. My scores are now at 600ish with another jump coming soon as I just got rid of my last collection, but I do have 2 late payments on my student loans that will hit one year in August.

The Capital One site now says I am pre-qualified for the Quicksilver One as well as the platinum. I know it will be a triple pull and I don't know if I am willing to do that for another $300 limit. I know that there is no way to know for sure, but does anyone have experience with the 2nd card being approved at a higher limit?

Thanks!

Anonymous · ‎06-15-2017

Quick silver 1 should have atleast $500 floor. Cap 1 has been acting so strange in the past few months (see other posts) I don't know what to tell you. I would think more like $1000 but the rules changed.

JayRizzo · ‎06-15-2017

If you want a QuickSilver without any pulls, simply call Cap-1 to see if you have any upgrade offers. Two nieces became Platinum card holders 3 months ago and called and successfully upgraded to QuickSilver One. One received an increase. The other is still at the same limit as each method may vary by individual reports.

chaos51 · ‎06-15-2017

@Anonymous wrote:
I got a Capital One Platinum 6 months ago. At the time my scores were hovering around the 560s. It started with a $300 SL and through credit steps went to $750. I keep the utilization down and have paid at least 3x minimum payments each month. My scores are now at 600ish with another jump coming soon as I just got rid of my last collection, but I do have 2 late payments on my student loans that will hit one year in August.

The Capital One site now says I am pre-qualified for the Quicksilver One as well as the platinum. I know it will be a triple pull and I don't know if I am willing to do that for another $300 limit. I know that there is no way to know for sure, but does anyone have experience with the 2nd card being approved at a higher limit?

Thanks!

@OP have you checked other prequal sites? There may be a better card for you out there, and even if it is a "low" SL, you can treat it right and it will grow. Also, you can save some HPs with other companies as well. Are you looking for any rewards in particular? Are you just looking for more credit to build your profile? Find the best card for you and look for a prequal IMO. I had my QS (Originally QS1 2 years ago) approved at $1,000 and credit steps to $3,000, now at $5,500... but I was pre-qualified for a QS1 not too long ago and jumped on it for a silly (again, in my opinion, and for me) $1,000 SL. I will get the credit steps and then combine accounts when I can, but I really regret going for that card and getting the 3 HPs for something that I could have just gone straight to NFCU (which I eventually did) and get $11,600 SL among other cards that were better for my spend.

Good luck with your decision! Make the most of it.

Total Revolving Credit Limit: $306,900
Pay Over Time Limit: $85,000
Fico 8 Scores: Ex: 751, TU 751, EQ 741

Anonymous · ‎06-15-2017

Yeah, I should have mentioned that I did get an upgrade to the QS 4 months ago. I was just wanting to add more tradelines and more available credit. I'm probably being impatient, but really looking forward to getting higher limits (not to spend of course, just to have).

@JayRizzo wrote:
If you want a QuickSilver without any pulls, simply call Cap-1 to see if you have any upgrade offers. Two nieces became Platinum card holders 3 months ago and called and successfully upgraded to QuickSilver One. One received an increase. The other is still at the same limit as each method may vary by individual reports.

Anonymous · ‎06-15-2017

@chaos51 wrote:
@Anonymous wrote:
I got a Capital One Platinum 6 months ago. At the time my scores were hovering around the 560s. It started with a $300 SL and through credit steps went to $750. I keep the utilization down and have paid at least 3x minimum payments each month. My scores are now at 600ish with another jump coming soon as I just got rid of my last collection, but I do have 2 late payments on my student loans that will hit one year in August.

The Capital One site now says I am pre-qualified for the Quicksilver One as well as the platinum. I know it will be a triple pull and I don't know if I am willing to do that for another $300 limit. I know that there is no way to know for sure, but does anyone have experience with the 2nd card being approved at a higher limit?

Thanks!
@OP have you checked other prequal sites? There may be a better card for you out there, and even if it is a "low" SL, you can treat it right and it will grow. Also, you can save some HPs with other companies as well. Are you looking for any rewards in particular? Are you just looking for more credit to build your profile? Find the best card for you and look for a prequal IMO. I had my QS (Originally QS1 2 years ago) approved at $1,000 and credit steps to $3,000, now at $5,500... but I was pre-qualified for a QS1 not too long ago and jumped on it for a silly (again, in my opinion, and for me) $1,000 SL. I will get the credit steps and then combine accounts when I can, but I really regret going for that card and getting the 3 HPs for something that I could have just gone straight to NFCU (which I eventually did) and get $11,600 SL among other cards that were better for my spend.

Good luck with your decision! Make the most of it.

I have checked and still not getting any other pre-qual offers, which I get since I am obviously still rebuilding. I was just excited to see the pre-qual pop up and for something other than the platinum.