CreditOne

[Anonymous]

I have a credit one card. i have had it for about 8 month now. i saw they just released the american express card, I tried to get pre approved for it but says i can't because I already have a CC threw them. has anyone had any luck with credit one upgrading a card or being able to have more than one card threw them?

[Anonymous]

As far as upgrading, I’m gonna go with no. They don’t have “real” tiers to their cards. Someone correct me if I’m wrong. 

As far as 2 cards, I can’t say I’ve ever seen anyone with more than one. Credit one has a purpose: establish credit history and move on to better cards. They are not “keeper” cards because of fees, interest rates etc therefore most don’t try to get additional approvals. 

Are you wanting the newer ones because they are on the AMEX network? 

[Anonymous]

Yes they have pretty good perks to what I see. Unfortunately I don’t have the credit score right now to get one. I’m sitting at a Experian- 637 and tu-622

[Anonymous]

I see.....if you want my opinion, I’d just sit tight for a bit. Yes the new cards have perks, but the fees (I’m assuming there are some) will eat into those perks. 

Your scores are not terrible. I’m not sure what other cards, balances etc you have, but you could qualify for better cards, if not now, in a few months. 

Dont let that Amex logo on Credit One fool you. 

[ficosuave]

I wouldn't suggest doubling down with Credit One at this stage, or any stage really. You're not all that far from breaking into proper Amex territory. Relative of mine was able to get the Everyday card at 646 Experian a couple years ago (albeit $500 limit and no bonus offer). And there's plenty of data points here on MyFico of folks getting in with the Delta/Hilton cards at around that score, too. Of course, there's more to a profile than score, but it sounds like you could be just on the brink.

[Anonymous]

see if you can get a capitalOne platinum card. because after your scores improve you can ask to PC it into a quicksilver card. then you'll have a 1.5% cashback card with no fees on it.

[Anonymous]

I have 2 capital one platinum cards one has a $500 and one has a $300. Unfortunately They are both almost maxed out. Me and my wife made 3 small changes to our bills. Refinanced our cars and switched are cellphones and are saving $500+ a month we are applying all of that to our debt hopefully that helps with my score too.

[Anonymous]

if you're maxing out your cards, it's best if you don't app for new ones just yet. if you app now you'll probably just be getting another low limit card, maxing that out, and stuck in a rut.

the trick to winning this game is to paydown your small limit card before the closing/reporting date so that it reports a balance of about 8% of the limit. that's $40 on the $500 card, and $24 on the $300 card. and then about 5 days after that is the due date, you want to pay that $40 & $24 in full so that you don't carry a balance. if you keep doing this your scores will go up and you can app for a new card with a much higher limit, when your score is around 700.

and since you have 3 cards, make sure that one of them is reporting $0. you will get a score penalty if all your cards are reporting a balance. you can also try using the AZEO method, where only one card reports a balance, that can give you a slight boost to the score.

[Anonymous]

How much can I expect my score to go up after I pay all my cards down?

[Anonymous]

if you have no bad marks on your credit report at all, you have no late payments, and are paying down the balance and keeping the utilization low each month, that's the key thing to making your score go up. low utilization. you have to act like you don't need the money that they're loaning you, in order for them to give you more.

if you sign up to https://www.creditchecktotal.com/ for a $1 trial you can use their score simulator to get an idea about how your score can improve. it's not a completely accurate prediction but it can give you an idea. the lower your score is, the faster it can improve. i'm around 700ish and my score is going up by 5, 10, sometimes 17 points a month if i paydown the balance or keep it low. yours might go up faster than mine.