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Capital one - should I accept pre approved quicksilver or cold app for venture / Savor

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Anonymous
Not applicable

Capital one - should I accept pre approved quicksilver or cold app for venture / Savor

I'm posting this one for my girlfriend who has been slowly working on her credit. She recently got approved for her first real CC. She had one before with her bank 5yrs ago but it was closed and sent to collections. She is an authorized user on a few of my cards ( 2 Capital one cards , Discover , and a VS store card.

So about 8-9 months ago she had a credit score below 600. I told her to take a chance with Capital one and see what happens. They were surprisley generous and offered her a 2k credit line. Within 6 months she got a auto increase to $2500. That brings us to today about 8 1/2 months since opening the platinum card with Capital one. She's ready to make her next move. Credit scores are all in the low 600s. Between 600-610. I still don't think she will get approved for someone like discover and that doesn't leave to many other options for someone in her score range. 

This week Capital one sent out a mailer that said she was pre qualified for the regular quicksilver card. We are trying to decide these two things. If we should accept the pre qualified quicksilver offer and app for it OR shoot a bit higher and app for the venture / Savor one card since she has built some history with Capital one and she can utilize the perks on each one of those cards. 

The other question is what are the chances the second card she gets with Capital one regardless if it's the quicksilver or savor /venture one that the limit will be higher on the second card? 

Also generally does the quicksilver have a lower max credit limit then the others? Or pretty comparable ?

 

ps - also if there's any other cards you suggest we look at that she might have a chance on let me know. I know chase and Amex are most likely out of the option so not sure what that leaves us with that are still decent cards and not predatory ones like credit one. Please chime in. 

 

Thanks for any help - You all are great! 

Message 1 of 27
26 REPLIES 26
Anonymous
Not applicable

Re: Capital one - should I accept pre approved quicksilver or cold app for venture / Savor

Edit ( didn't wanna edit the original post to many times and get it flagged )

 

The quicksilver offer was pre approved NOT pre qualified. They sent the offer to her email directly. 

Message 2 of 27
Ficoproblems247
Valued Contributor

Re: Capital one - should I accept pre approved quicksilver or cold app for venture / Savor

I wouldn't put all my eggs in the Cap1 basket. You say you don't think she would be approved for Disco, but has she tried the prequal request from them? It's pretty solid generally. I would try and see how that comes back, even if she has to go the secured route, that card can graduate in as low as 7 months. If she's preapproved for QS, she would likely be able to get at least a Savor1/Ven1, but maybe not the full Venture or Savor versions. There is no way to really tell unless you pull the trigger and take the notorious Cap1 3 HPs. You never know, Cap1 can be super relationship oriented sometimes and grant generous approvals for 2nd cards with current responsible cardholders. Savor is decent if you spend more than $9,500/yr on dining and entertainment, otherwise Savor1 is a better value. Venture is a pretty poor rewards card considering the $95 AF for a flat 2% card essentially. If she is looking to get to 3 revolvers, I would honestly try Disco (even the secured route), and a local CU possibly. I don't have a ton on info on NFCU, but everyone around here recommends them, too.





FICO 8 Sep '23 EX 755 EQ 765 TU 739
TCL $199,800
Message 3 of 27
Iusedtolurk
Established Contributor

Re: Capital one - should I accept pre approved quicksilver or cold app for venture / Savor


@Anonymous wrote:

I'm posting this one for my girlfriend who has been slowly working on her credit. She recently got approved for her first real CC. She had one before with her bank 5yrs ago but it was closed and sent to collections. She is an authorized user on a few of my cards ( 2 Capital one cards , Discover , and a VS store card.

So about 8-9 months ago she had a credit score below 600. I told her to take a chance with Capital one and see what happens. They were surprisley generous and offered her a 2k credit line. Within 6 months she got a auto increase to $2500. That brings us to today about 8 1/2 months since opening the platinum card with Capital one. She's ready to make her next move. Credit scores are all in the low 600s. Between 600-610. I still don't think she will get approved for someone like discover and that doesn't leave to many other options for someone in her score range. 

This week Capital one sent out a mailer that said she was pre qualified for the regular quicksilver card. We are trying to decide these two things. If we should accept the pre qualified quicksilver offer and app for it OR shoot a bit higher and app for the venture / Savor one card since she has built some history with Capital one and she can utilize the perks on each one of those cards. 

The other question is what are the chances the second card she gets with Capital one regardless if it's the quicksilver or savor /venture one that the limit will be higher on the second card? 

Also generally does the quicksilver have a lower max credit limit then the others? Or pretty comparable ?

 

ps - also if there's any other cards you suggest we look at that she might have a chance on let me know. I know chase and Amex are most likely out of the option so not sure what that leaves us with that are still decent cards and not predatory ones like credit one. Please chime in. 

 

Thanks for any help - You all are great! 



@Anonymous wrote:

I'm posting this one for my girlfriend who has been slowly working on her credit. She recently got approved for her first real CC. She had one before with her bank 5yrs ago but it was closed and sent to collections. She is an authorized user on a few of my cards ( 2 Capital one cards , Discover , and a VS store card.

So about 8-9 months ago she had a credit score below 600. I told her to take a chance with Capital one and see what happens. They were surprisley generous and offered her a 2k credit line. Within 6 months she got a auto increase to $2500. That brings us to today about 8 1/2 months since opening the platinum card with Capital one. She's ready to make her next move. Credit scores are all in the low 600s. Between 600-610. I still don't think she will get approved for someone like discover and that doesn't leave to many other options for someone in her score range. 

This week Capital one sent out a mailer that said she was pre qualified for the regular quicksilver card. We are trying to decide these two things. If we should accept the pre qualified quicksilver offer and app for it OR shoot a bit higher and app for the venture / Savor one card since she has built some history with Capital one and she can utilize the perks on each one of those cards. 

The other question is what are the chances the second card she gets with Capital one regardless if it's the quicksilver or savor /venture one that the limit will be higher on the second card? 

Also generally does the quicksilver have a lower max credit limit then the others? Or pretty comparable ?

 

ps - also if there's any other cards you suggest we look at that she might have a chance on let me know. I know chase and Amex are most likely out of the option so not sure what that leaves us with that are still decent cards and not predatory ones like credit one. Please chime in. 

 

Thanks for any help - You all are great! 


If it was me.....A bird in the hand is worth 2 in the bush.

 

Which means I would take the pre-approval since it's early in the credit journey not wanting to risk 3 wasted hps (shuddering) if denied for the savor/venture.

 

BUT I would try the Disco pre-approval before taking the leap with cap1.

 

If approved for Disco secured or unsecured (they like thin files and trying the pre-approval doesn't hurt because it's a soft pull) I would make that my second card and look for it to unsecure in 7 months if secured was granted.

 

3 cards are usually agreed on around here as the perfect number so I would get one of the easier store cards as the 3rd card.

 

If Disco not pre-approved I would then go for the solid Cap1 and add the 3rd card (easy store card).

 

Good luck and let us know the outcome.

Message 4 of 27
Anonymous
Not applicable

Re: Capital one - should I accept pre approved quicksilver or cold app for venture / Savor

Thank you for the advice much appreciated - yeah the 3 hard pulls really isn't very attractive with Capital one.

 

She has done the pre approval for Discover and they offer her a secured card with them. I have one that started as secured and took almost 3 yrs to unsecure recently but they are great company and for secured cards I'd say there one of the best since capital ones secured cards don't graduate anymore. 

just trying to weigh the options , since I figure that she already has one unsecured card with Capital one with a somewhat decent starting limit for someone with her credit score when she applied , if it would make sense to go somewhat backwards and now apply for a secured card. Or take the Capital one offer to get another card under her belt , pair it with a store card and use those three for the next 6-12 months or so and then app for Discover once she has some more history and cards in her name. We are both much to indisicive lol 

Message 5 of 27
Anonymous
Not applicable

Re: Capital one - should I accept pre approved quicksilver or cold app for venture / Savor

Thanks for the help ! She is pre approved for a Discover secured card. But just been going back and fourth if it makes sense to go with a secured card now that she's already been approved for a unsecured card and showed almost a year of responsible use. Discover is a great company , I started with a secured card with them that took about 3yrs to unsecure due to one late payment ( totally understandable ) just can't decide what way to go so all of your advice helps a lot. The 3 hard pulls are really a turn off with Capital one. And with Discover I'm not sure if she should take the risk apping for a unsecured card with them at this point or take the pre approval for secured. If by chance she went for the unsecured and got denied , can Discover then offer her the secured card if she called in the same day to avoid any further hard pulls ? 

Message 6 of 27
Anonymous
Not applicable

Question about Discover secured card and them using the same hard pull

Does anyone know if say my girlfriend was pre approved for a Discover secured card , and she decided to take a chance and app for the unsecured card , worst case scenario she is denied. 

Can you call in the same day and have them use the same hard pull from the app for the unsecured card that you were denied on and have them use it and offer you the secured version without needing to do another pull? 

She currently has one credit card with Capital one that's unsecured for $2500 with almost a year of history on it. 1% utilization , a credit builders account , and one charge off from 5yrs ago. 

she was offering a second Capital one quicksilver card through a pre approval that was sent to her email recently. We are trying to decide if she should take that pre approved offer for the quicksilver , or cold app for a venture one or saver one card. Or avoid Capital one again all together since the 3 hard pulls are not fun to get , and just take a chance with Discover that's she's pre approved for secured or cold app for the non secured and hope if not approved they would give her the secured off the same pull?

 

Anyone have experience with a situation like this or advice ? 

Message 7 of 27
Anonymous
Not applicable

Re: Question about Discover secured card and them using the same hard pull

Unlikely

 

They wouldn't budge when I asked to remove an inquiry when their sole reason for denial was I opened an account with them already in the last year

Message 8 of 27
Iusedtolurk
Established Contributor

Re: Capital one - should I accept pre approved quicksilver or cold app for venture / Savor


@Anonymous wrote:

Thanks for the help ! She is pre approved for a Discover secured card. But just been going back and fourth if it makes sense to go with a secured card now that she's already been approved for a unsecured card and showed almost a year of responsible use. Discover is a great company , I started with a secured card with them that took about 3yrs to unsecure due to one late payment ( totally understandable ) just can't decide what way to go so all of your advice helps a lot. The 3 hard pulls are really a turn off with Capital one. And with Discover I'm not sure if she should take the risk apping for a unsecured card with them at this point or take the pre approval for secured. If by chance she went for the unsecured and got denied , can Discover then offer her the secured card if she called in the same day to avoid any further hard pulls ? 


If it was me and starting off on rebuilding credit I would only deal with the pretty safe bets. I would go ahead and give the secured disco an app.  No sense in getting a hp denial on the unsecured and then taking the chance on another hp for the secured.  Even though hps don't hurt you much they stay on your credit for 2 years and during those 2 years if the credit is getting better then opportunities for more credit arises.

 

Before you know it you have a number of inquiries and some credit card issuers are indeed Inquiry Sensitive and will denied you if your number of inquiries don't meet their criteria. Then you wind up with more inquiries that are for denials instead of approvals.

 

Increasing you credit score takes time, patience and following the written and unwritten rules but pays off majorly in the end.

Message 9 of 27
FinStar
Moderator Emeritus

Re: Question about Discover secured card and them using the same hard pull


@Anonymous wrote:

Does anyone know if say my girlfriend was pre approved for a Discover secured card , and she decided to take a chance and app for the unsecured card , worst case scenario she is denied. 

Can you call in the same day and have them use the same hard pull from the app for the unsecured card that you were denied on and have them use it and offer you the secured version without needing to do another pull? 

 

Anyone have experience with a situation like this or advice ? 


Short answer - no.

Message 10 of 27
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