Venture One?

[Anonymous]

I believe I have a window of opportunity before Discover reports my uti on a 6500 SL card. Right now it still shows zero. I transferred 5k to that card. Meanwhile all cards transferred are showing zero.
I’d like a shot at a huge SL to bring my overall uti way down. Right now I’m at 21%. From what I’ve read on this forum is Cap One is very generous on that card. I have 2 Cap One platinum cards already with zero balances. My scores across the board are around 710. Very few inquiries and absolutely NO baddies. I’m just thinking I’m not around 750 because of the uti rate.

Thoughts?

[Anonymous]

If it's just for utilization it's fine but for spending it's only a 1.25% card so not very useful.

Remember it's 3 hard inquiries to get it and that will affect your score for 0-12 months on each bureau.  Also if you haven't had a new account in over 6 months, you may also get a "new account penalty" on your score.

Your overall utilization of 21% is high, but it may matter more what your highest reported utilization is on any card -- what card has the highest utilization and how much?

[SomewhereIn505]

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@Anonymous wrote:
I believe I have a window of opportunity before Discover reports my uti on a 6500 SL card. Right now it still shows zero. I transferred 5k to that card. Meanwhile all cards transferred are showing zero.
I’d like a shot at a huge SL to bring my overall uti way down. Right now I’m at 21%. From what I’ve read on this forum is Cap One is very generous on that card. I have 2 Cap One platinum cards already with zero balances. My scores across the board are around 710. Very few inquiries and absolutely NO baddies. I’m just thinking I’m not around 750 because of the uti rate.

Thoughts?

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As long as you didn't get your Cap One in the past 6 months, then you have a shot. FYI, if your youngest's Cap One Platinum is older than 6 months old, you can go online and see if they will combine it into a single card. Or see if they'll PC it to QS.

[Anonymous]

Thank you. I’ll look into that.

[Anonymous]

They use mortgage scores usually so I would check yours before apping. They declined me with fico 8 729-750 scores at 1# util and plenty of income because my mtg scores happen to be my lowest. Don't have one reporting any longer..

[Anonymous]

Thanks. I believe my mortgage scores are higher. How would I check?

[RadioRob]

If you have myFICO 3B monitoring service, it will show you the various versions of scores from your latest report.

It will show your FICO 8, but also tell you what it is for FICO 9, auto-enhanced, mortgage, etc.

[Anonymous]

Thank you. I’m too cheap to pay for a monitoring service though. Lol

[Anonymous]

81% on a $500 Limit USAA card. It’s a zero percent BT card just opened 2 months ago and JUST got reported.

[mkhan1093]

As was said before, the card isn't good for actual rewards but it won't look bad to have it and you can probably lower your UTIL pretty well to below 20%. A suggestion though I would have is app for the Venture since it provides a better signup bonus and then in year 2 you can downgrade to the VentureOne. You still get the UTIL drop with no AF (since it's free for the first year) but you'll get more rewards for the same amount of organic spend. Just a tip!