Increase CL or or Open a new CC

[AllZero]

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@Anonymous wrote:

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@AllZero wrote:

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@Anonymous wrote:

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@AllZero wrote:

I would recommend you check to see if you can do a product upgrade from Capital One Platinum to Quicksilver (not the Quicksilver One with the annual fee).  Capital One check for upgrade link

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Thanks!

will that be consider as a new account? Will my capital one platinum account be closed? This is the oldest account I have and I want to keep it for the history.

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Nothing really changes besides earning 1.5% cash back. You may get a new Quicksilver card to replace your Platinum. Easy peasy lemon squeezy.

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Thank you so much I never thought this is possible without closing the account.

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Account remains open. No triple hard pull inquiry. No new account or required account closure. It's that simple.

[Remedios]

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@Anonymous wrote:

I figured the best way to build credit is to keep utilization below 30% which is fine and attainable but within the pandemic because I lost my job I reached almost %30 it took me sometime to get another job now I brought it down to below 10% about ~7k in debt which should be paid off in the next 6-7 months. Best time to ask for credit increase or credit cards when you don't need it because when I needed it the most in the past no one will give it to you with average credit. Hope this help! It just my philosophy. 

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I figured that was the case, hence the question 

I'd prioritize paying that debt, you never know (well, you do now) what can happen, so perhaps a card with lengthy 0% intro while you pay your debt down would be helpful at this time.

CF and CFU both have 15 months 0% intro apr, and believe Chase still offers BTs on CF

[Anonymous]

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@Remedios wrote:

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@Anonymous wrote:

I figured the best way to build credit is to keep utilization below 30% which is fine and attainable but within the pandemic because I lost my job I reached almost %30 it took me sometime to get another job now I brought it down to below 10% about ~7k in debt which should be paid off in the next 6-7 months. Best time to ask for credit increase or credit cards when you don't need it because when I needed it the most in the past no one will give it to you with average credit. Hope this help! It just my philosophy. 

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I figured that was the case, hence the question 

I'd prioritize paying that debt, you never know (well, you do now) what can happen, so perhaps a card with lengthy 0% intro while you pay your debt down would be helpful at this time.

CF and CFU both have 15 months 0% intro apr, and believe Chase still offers BTs on CF

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Thanks that's a good point I will be either going with Citi Rewards+® Card (it offers 15 months 0% APR Balance Transfer along with rewards and $150 after spending $1,000) or I can go with Citi double cash ( 18 months 0% APR on balance transfer along with 2% cashback) not a fan of the design though.

I already have Citi Diamond Preferred® Card with a high limit and 0 balance. do you think I will have a smaller CL if I applied for another Citi card or it's better to go with a different bank? 

[Remedios]

I don't know, Citi is unpredictable with SLs. You have one card with decent limit, I really don't see them approving a new card anywhere near that amount, but again, they are unpredictable. 

Add income, utilization, etc, and it's always a surprise.

There are some lenders (but not many) who let you know pre-approval amount, so you might want to try those.

I can't remember who they are other than BBVA (I also believe they are geo-fenced). I'm a bit rusty when it comes to applications.

US Bank has Platinum card if you need BT, it's got one of the longest 0% intro periods, but also cat in a bag SL wise.

It can be PCed to other cards later do that's a plus. They aren't exactly predictable either. 

[coldfusion]

BBVA is geofenced unless you get a preapproval mailer. 

Off the top of my head the only other card that accurately predicts your SL is the Apple card unless as an existing DCU or PenFed member you were extended a targeted quarterly offer. 

[Anonymous]

I read in a post last week that somebody said the other way around the BBVA geofence was to open an online checking account. I have no firsthand knowledge of it but that's what comes to mind. Might be worth exploring.

[Remedios]

How come you two don't know? You ain't app rusty 🤔

[Anonymous]

"My name is Devil and it's been almost three whole months since I've opened a credit card..."

[coldfusion]

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@Remedios wrote:

How come you two don't know? You ain't app rusty 🤔

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I'm only 3/12!!!    2017-2018 were my glory years when I was averaging 1 card every 2 weeks. 

[Anonymous]

Thank y'all for your help! You have been nothing but amazing with your fast responses I appreciate it.

After doing some research and listening to your advices I've decided the following:

- PC CapitalOne Platinmum to CapitalOne Savor. Why? Better chance of higher limit on the long run + cool looking card (metallic) + only good and excellent credit score will be accepted, unlike quick sliver which is attainable even with fair credit. so i don't mind the annual fee.

- I did receive a mail from BBVA 3 months ago with a pre-approved 50k loan I throw it away in the trash where it belongs. not sure about their credit cards though I have to do some research.

- I won't be gambling on opening a new account without knowing how much I will be getting approved for. if I decided to go for a card just for the purpose of BT then if I get approved for a low limit then I am screwed I would have to build the limit on that card which could take years. hence I will apply for Apple Card if I got 10k + I will take it otherwise I will just decline it.

- I will do a CLI request on all my cards once I get approved for a new Credit card (that depends on the limit of Apple's card I can still decline the card and if did I will be skipping adding a new card for now and do a CLI only)

one thing I learned over the years to build my credit is (Always Always ask for CLI when you don't need it at all as long as you have good credit and open a new credit card for the purpose of building a higher limit at least once a year) during the pandemic when i lost my business having these high limits helped me a lot until I got back on my feet it's just my philosophy and it's been working well for me.

Thank you all once again! I'll keep you posted