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Capital One graduation

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Regular Contributor

Capital One graduation

I've been helping my father build up his credit. 6 months ago he was approved for the Cap One Platinum for $300. Consistent on-time payments and today, he graduated to $500. Now, that card is upgradable to the QS.  I heard that he can have 2 Cap One starter cards. Now should he, (A) Upgrade to the QS and then apply for another Platinum or (B) Apply for a QS?

Dad's Info: FICO 8 Experian: 627, Credit Karma-Transunion 651; Equifax 656
Capital One QS: $376/$500
Discover IT: $111/$1,250
HSN: $509/$2,000
US Bank: $386/$500
Message 1 of 9
8 REPLIES 8
Valued Contributor

Re: Capital One graduation

Upgrade that card to  a QS. Then check pre approvals for Amex, Discover, and Chase to see if he has any pre approval. Another Platinum should be last resort. Smiley Very Happy






Message 2 of 9
Valued Member

Re: Capital One graduation

That is good news it graduated.

I have a Cap One Secured card and after hearing a few things , I called and asked if my card could ever graduate and I was told no.
Message 3 of 9
Established Contributor

Re: Capital One graduation

Great job! So it sounds like it wasn’t a secured card that graduated, but rather a starter card that was on credit steps like mine. Just so you know, this card is bucketed and won’t grow large, but it’s serving it’s current purpose. I would PC this to a Quicksilver so he can get some cash back rewards and take a look at other lenders. Discover and Amex come to mind, since they are friendly and generous towards new thin files. You can also check their prequalification sites first before applying to see what offers are available. Check those out and let us know what comes up!


November 2019:

Stats:
Message 4 of 9
Established Contributor

Re: Capital One graduation

The next card Cap1 will offer has an annual fee.

keep checking the pq sites and wait on Disco.

 

Good luck and good on you!



“If you don’t know, the thing to do is not to get scared, but to learn.” – Ayn Rand
Message 5 of 9
Regular Contributor

Re: Capital One graduation

Actually this Cap One QS has no annual fee.


@mikesonthemend wrote:

The next card Cap1 will offer has an annual fee.

keep checking the pq sites and wait on Disco.

 

Good luck and good on you!


 

Dad's Info: FICO 8 Experian: 627, Credit Karma-Transunion 651; Equifax 656
Capital One QS: $376/$500
Discover IT: $111/$1,250
HSN: $509/$2,000
US Bank: $386/$500
Message 6 of 9
Super Contributor

Re: Capital One graduation


@mikesonthemend wrote:

The next card Cap1 will offer has an annual fee.

keep checking the pq sites and wait on Disco.

 

Good luck and good on you!


Huh?

 

Capital One has QS, SavorOne, and VentureOne that all have no AF. Usually if you start off with one of Capital One's lower cards and manage it well, you will get approved for the either of the One cards or a regular QS without any hassle



01/2019:
10/2019:

Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 7 of 9
Community Leader
Mega Contributor

Re: Capital One graduation


@Saeren wrote:

@mikesonthemend wrote:

The next card Cap1 will offer has an annual fee.

keep checking the pq sites and wait on Disco.

 

Good luck and good on you!


Huh?

 

Capital One has QS, SavorOne, and VentureOne that all have no AF. Usually if you start off with one of Capital One's lower cards and manage it well, you will get approved for the either of the One cards or a regular QS without any hassle


@Saeren  I believe they are saying next card OP may qualify for is QS1  before they qualify for the cards you mentioned. 

EX 759 EQ 774 TU 753


Message 8 of 9
Super Contributor

Re: Capital One graduation


@Remedios wrote:

@Saeren wrote:

@mikesonthemend wrote:

The next card Cap1 will offer has an annual fee.

keep checking the pq sites and wait on Disco.

 

Good luck and good on you!


Huh?

 

Capital One has QS, SavorOne, and VentureOne that all have no AF. Usually if you start off with one of Capital One's lower cards and manage it well, you will get approved for the either of the One cards or a regular QS without any hassle


@Saeren  I believe they are saying next card OP may qualify for is QS1  before they qualify for the cards you mentioned. 


This seems unlikely though. The way Capital One has arranged their product stack, you're meant to go from secured/Plat/QS1 -> QS/One cards -> premium AF cards. 

As long as you manage your first card correctly, 6-12 months down the line you are meant to be able to get to the second tier provided you haven't demonstrated extra risk by taking on a bunch of new accounts and your scores are in the mid-upper 600s. 



01/2019:
10/2019:

Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 9 of 9
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