Capital One...

[GApeachy]

OP, I love Cap1.....I got the credit steps plat. sl $500 last Oct., pc'd to Quick Silver in Jan. (loved the perks) then when it completed the credit steps just like they said it would, I got an extra $250.  About a week or two later, I app'd for the Savor and got it with a sl of 5k!  My first decent sl.  Then I closed the bucketed card.  It's a great card, great bank.  They let you get your foot in, then you can jump all the way in.  Good luck!!

[SouthJamaica]

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@Anonymous wrote:
I know this creditor is looked down on by those with good credit, but is opening a second card with Capital One a good idea? I already have an unsecured capital one with a $500 limit. As of now, it's my only credit card. Well, capital one sent a preapproved invite for the quick silver card. 9 months at 0% and no annual fee. My fico is around 600. Should I take this offer to build my credit? Thanks.

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I'm not a Capital One fan, but yes I would definitely go for the Quicksilver. It's a good card.

[CreditInspired]

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@Anonymous wrote:
I know this creditor is looked down on by those with good credit, but is opening a second card with Capital One a good idea? I already have an unsecured capital one with a $500 limit. As of now, it's my only credit card. Well, capital one sent a preapproved invite for the quick silver card. 9 months at 0% and no annual fee. My fico is around 600. Should I take this offer to build my credit? Thanks.

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Since you already have an unsecured Cap1, I suggest trying Discover's prequal site and see if you have a preapproval. GL2U

[I_Love_Cards]

I think Capital One gets some looks because of the triple HP (which isn’t all that much worse than Chase/Citi double HP), “bucketed” cards that may never grow, and somewhat lackluster rewards for their higher tier cards.

On the flip side, Capital One tends to be far more flexible and forgiving of past transgressions than many lenders, and their offerings for rebuilders are not fraught with a zillion fees for breathing or sneezing too close to your credit card. That makes Capital one a better option than many in the subprime market. And rewards of any kind for rebuilders is a huge plus.

Capital One also has PC options, SP CLI, a solid website/app and is very simple, fast and easy with rewards redemption.

A no AF QS1 with a 0% intro period is a solid card and a great option for a rebuilder.

[wasCB14]

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@I_Love_Cards wrote:
I think Capital One gets some looks because of the triple HP (which isn’t all that much worse than Chase/Citi double HP), “bucketed” cards that may never grow, and somewhat lackluster rewards for their higher tier cards.

On the flip side, Capital One tends to be far more flexible and forgiving of past transgressions than many lenders, and their offerings for rebuilders are not fraught with a zillion fees for breathing or sneezing too close to your credit card. That makes Capital one a better option than many in the subprime market. And rewards of any kind for rebuilders is a huge plus.

Capital One also has PC options, SP CLI, a solid website/app and is very simple, fast and easy with rewards redemption.

A no AF QS1 with a 0% intro period is a solid card and a great option for a rebuilder.

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Cap1 may occasionally waive the AF on a QS1, but plain QS is the one that comes with no AF by default (and a bonus).

[I_Love_Cards]

You are right. I was thinking QS but typed QS1. Regular QS has no AF. My mistake. OP’s offer was for QS not QS1.

[FireMedic1]

Stay far away from the QS1. It isnt easy to upgrade or do anything with it. I call it the brick. Then you have to spend too much just to make up for the $39 AF until you start to make a profit.

[Anonymous]

I just opened a third Capital One account last night.  There are some  who think that a person can only have 2 CO accounts at a time.  I contacted then last night to make sure and you can have up to 5 total from them.  I wanted to make sure before I applied for the Savor.  I have the QS and Platinum before hand.  I have been getting constant denials for CLIs (like plenty of others have on the planet lol) for the past 2 years.  As the representative told me, each card has its own unique terms and conditions.  Being that I last applied 4 years ago, the card was probably "bracketed" to only go so far as far as increases go.

Good luck!!

[marcforza1]

Cap1 is a decent card to have depending on the category that you do a ton of spending on. Other than the 3 HP, the main gripes with them are bucket cards with the inability to upgrade and they can be stingy with CLI. I wouldn't mess with the QS1 because it's basically the QS but with a AF. Whatever Cap1 card that you go with, make sure that you're o.k. with taking that 3 HP hit and also pick a card that you know that you will utilize without the worries of trying to upgrade down the road.