Should I keep my Cap One QS1?

[Anonymous]

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@Brian_Earl_Spilner wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Also so just try the prequal site at the major banks. Citi, BofA, Chase etc. As you don’t have a BK at least one of them will give you a card.

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BoA doesn’t have a true prequal. I would try them last. 

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According to the latest reports, the prequal is working now

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Credit frozen and burned in BK.

[AverageJoesCredit]

Boa's prequal is less reliable than Credit Karma

[Brian_Earl_Spilner]

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@Anonymous wrote:

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@Brian_Earl_Spilner wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Also so just try the prequal site at the major banks. Citi, BofA, Chase etc. As you don’t have a BK at least one of them will give you a card.

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BoA doesn’t have a true prequal. I would try them last. 

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According to the latest reports, the prequal is working now

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Credit frozen and burned in BK.

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I didn't say it was working for everyone, I said that latest reports are it's working. There are screenshots floating about showing actual pre-qualified offers, not recommendations.

[Brian_Earl_Spilner]

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@AverageJoesCredit wrote:
Boa's prequal is less reliable than Credit Karma

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These are new reports, as in last few days.

[Anonymous]

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@Brian_Earl_Spilner wrote:

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@Anonymous wrote:

Once that card reaches 6 months (from open date) Cap1 will give you another card. This one will not be bucketed (stuck at low limits) as long as it’s not another QS1.

 They will give you a new card with a large limit but will not approve increases on the QS1 beyond a few hundred dollars at a time. I know people who have a Savor and Venture cards with 20k limits and get turned down for CLI on $800 QS1 cards. its weird but that just the way Cap1 system works.

Also so just try the prequal site at the major banks. Citi, BofA, Chase etc. As you don’t have a BK at least one of them will give you a card.

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This isn't true. If you're profile doesn't support it, any new cards will be bucketed as well.

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You’re right. I don’t mean to imply that it’s automatic. I just assumed someone on a rebuild is making improvements to their profile. I shouldn’t have made that assumption. I don’t want to give the OP the wrong impression that all you have to do is wait 6 months.

(I improved my score 180 points 10 months. 100 of those points came in the 6 months from the first Cap1 card. But of course it’s a ymmv situation)

[Anonymous]

deff slash that qs card in half theirs store visa cards with better benifits & rewards than that card & will actually grow 

[NaaryalHead]

As a fellow QS1 Bucketeer. Yes Bucketeer, I'd close the card if your not worried about losing the CL. I'm keeping my QS1 only in the hopes they might let me PC after paying the AF later this year. Their bucketing system is the worst! I'm not giving them any more business or inquiries. Got much more love from citi, Bofa, chase and in future, Amex so I'll reward them instead.

PS I called cap one recently to see if they'd let me PC away from QS1. Nothing so far 10 months in. She did reduce my apr from 20.x to 17.x which I don't really need.

[HeavenOhio]

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@Remedios wrote:

Drop it, but after you get another card that runs on Visa/Mastercard network. 

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Yep. @Anonymous, hang onto the card until you have a replacement Visa/MC. Even though you're paying an annual fee, you still have a functional Mastercard from a good bank.

And do keep using the card each month, although you don't have to use it much. There's some evidence that consecutive months of usage may contribute to upgrade offers that would lose the fee. Start calling in once a month so see if you have upgrade offers available.

[Anonymous]

You could try product changing, at least to get rid of the AF. It's at least worth giving it a try. An easy way to see is if you sign into your Capital One account on an actual computer and adding /productupgrade at the end of the URL when you're signed into your account and after you click on "View Account".

[DebtJoe]

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@Anonymous wrote:

So, when I began my credit rebuilding journey last year, I had abysmal scores and was only approved for a Discover It secured that I  backed with $1k and a capital one QS1 with a $300 limit.

The Cap One card is in credit steps and is currently at $500. My Discover just graduated, but no CLI. It's at 1k. I was also approved for a Delta gold AMEX at 1k and will probably be mostly focusing on growing Disco and Amex. Should I still focus on pushing stuff through cap one, paying it off, and hoping it will grow? I feel like it might be a better use of my time to try and CLI Disco/Amex. I have heard I might have trouble making the amex grow since I started at 1k, but hopefully it can.

Long story short, what are the pros and cons of continuing with the QS1?

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I'm currently being very stubborn with my QS1 in hoping for either a large CLI or a PC sometime in the future. I've had the card for 8 months, and believe it or not, I put all of my spend on this card (about 4xs the limit of the card each month).

It's a total pain in the ass to pay it repeatedly and wait for the available credit to come back, but I'm hoping by creating so much spend they'll be enticed to bless me.

No luck so far lol.....