@Anonymous wrote:The VentureOne will report. You opened a new TL with a lender and they'll let the bureaus know about it. Timeframe varies by lender but yes, it'll end up on your reports regardless of usage or lack thereof.
+1
Cap1 sometimes takes 2 months to report IMOE and several others I know who obtained a card from Cap1.
Just note that the FIRST month you have the card and put spend on it(even though it has not reported that FIRST month) and you leave a balance, THAT FIRST month's utilization WILL be reported the next time your statement cuts. Just some insight on Cap1's reporting behaviors from MOE and others.
Good Luck and don't carry a balance so you don't pay interest...unless you are implementing AZEO then you would just report a small balance(<8.9%) and all other cards zero($0) bal.
I❤️NY
eta: correction explaining AZEO method.
sorry I am on iPhone and at work(NM) it's noisy. I'm cranky. I'm tired. and I sincerely apologize for not being thorough enough. 😞
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@UpperNwGuy wrote:
@Brooklyn2018 wrote:
Good Luck and don't carry a balance so you don't pay interest...unless you are implementing AZEO.Wait! Does AZEO require that you carry a balance or simply that you report a balance? There's a big difference.
No. There is a grace period on virtually all credit cards other than cash advances or similar.
PIF by the following due date and no interest paid, that is not carrying a balance. Ultimately AZEO is about reporting a balance.
As for the OP's question I don't know any credit card other than those that don't report at all which wouldn't report even if you never use it, but I don't understand the use case: if it never reports and you never use it, why?
@Revelate wrote:
@UpperNwGuy wrote:
@Brooklyn2018 wrote:
Good Luck and don't carry a balance so you don't pay interest...unless you are implementing AZEO.Wait! Does AZEO require that you carry a balance or simply that you report a balance? There's a big difference.
No. There is a grace period on virtually all credit cards other than cash advances or similar.
PIF by the following due date and no interest paid, that is not carrying a balance. Ultimately AZEO is about reporting a balance.
As for the OP's question I don't know any credit card other than those that don't report at all which wouldn't report even if you never use it, but I don't understand the use case: if it never reports and you never use it, why?
Yes it's about reporting a balance NOT carrying a balance. My bad OP. I was under the impression since you've been lurking the forums you've already stumbled upon AZEO.
AZEO is NOT about carrying a balance but reporting one card a small balance(ideally <8.9%) and the rest of your cards report a $0 balance to maximize the most FICO points. Hence, All Zero Except One. Hope I was able to clarify and correct my response. 😊👍
I❤️NY
Congrats on getting a CapOne card with only a double-pull.
Congtrats in getting a no-AF $1,000 card as part of your rebuild. Good payment history for this card might lead to CLI, and certainly a higher starting limit on your next CapOne card.
And no, the bank does not wait expectantly for each cardholder to decide if they should buy that first cup of coffee... or not this month. Statements are generated via automated processes in the bank computers that spit them out by the millions in a matter of seconds.
And really, as a cardholder, you want the bank to communicate to you what the bank thinks you owe, even if it is zeros for several months, so that you have confirmation whether you need to pay anything to the bank, and if so by what date, so you aren't late with any of those payments.
Congratulations on your approval! Perhaps, use the card and enjoy the benefits.
In due time, you may try for a CLI or product upgrade?
In due time, you may try for a CLI or product upgrade?
@CreditInspired wrote:
@Anonymous wrote:I've got my eye on my first AMEX card to begin building a relationship with AMEX. FICO8 -- EX: 720, TU: 733, EQ: 723
Have 3 EX inquiries since May; 1 new added revolver (CSP), 1 installment consolidation loan, and one app denied. Cap1 V1 was approved through pulling only TU and EQ (hence no EX inquiry).
Hi and welcome to myFICO
Just some friendly advice. Since you just opened a credit card and a consolidation loan, including getting a denial in 2 months, I would hold off on applying for an AmX or any other CC. In this climate, it may be seen as credit-seeking behavior. The denial and debt consolidation are signs to put on the brakes. You don't want another denial, and if approved, another $1K SL.
GL2U
That's a rational approach to it. I do wish I had held off on apping for Cap1 and waited instead for AMEX, but was still (and am still, clearly) learning all the best ins and outs of working within the credit system.
When I was approved for my CSP in early March, I had a SL of $11,600 -- which is why the $1000 SL from the VentureOne was a bit surprising (reported income $150k -- though could reasonably elevate that based on distributions as a result of equity in my company). My CSP approval also came as my *first inquiry* in two years (realistically ~4 years) which I'm sure contributed to why I had gotten that SL. My denied app came from applying for a Chase Freedom as I apped 31 days after receiving my CSP, thinking I would try and app within the Chase set of cards before hitting 5/24.
My util. is down to 0.35% using AZEO, the $4000 installment loan was taken out A) to show diversified credit use, and B) to pay off one of the cards I had so that I could essentially demonstrate AZEO.
The largest motivations I have to go for this AMEX are:
1) Wanting to increase my total credit available as compared to my income, where my total personal limit currently stands at $27,200 compared to my base income of $150k (closer to $204k after distributions), as I'm building another business and want to know for the time being that if I were to have a balance revolve over 1 or 2 months, it would have less of an impact on my overall score considering a lower increase in util %.
2) Starting a relationship with AMEX -- as I know their perks are great, their CLIs are great, and any additional cards from them will be a soft pull.
And after that, garden. Do nothing but garden, for a good, long while.
My concern is that it would look like credit seeking behavior. And although I've demonstrated to Chase with my CSP that I can put a pretty heavy amount of charges through their card and have it paid off in the time I've had it, I don't want to run the risk of having the CSP -- my daily card -- shut down. I had hoped that if I app'd and was approved for an AMEX, that due to my income and otherwise fairly good credit record -- so far as only having 2 30+ lates that were 4 years ago, 0.35% util, 1-2% DTI, what would then be 4 total inquiries if accepted, 2 revolvers between CSP and VentureOne opened and 1 $4k installment loan opened -- that acquiring one last card (the AMEX) would not show as too aggressive of credit seeking behavior for Chase. Granted, I know we live in different/interesting times right now, and a difficult one for those pursuing credit. AMEX currently shows I'm pre-qualified for their AMEX BCE.
It feels like a hard call to me, being much newer to this than the rest of those on the board here. Does my line of thinking regarding the plan here seem completely irrational?
Thank you for the congrats on the opened card though 
I know the VentureOne is a great card otherwise, even though I was a bit disappointed by the SL.