apping for Capital One Mastercard after Citi Simplicity

[Anonymous]

Love everyone here on the forums! New questions:

I just got accepted for a Citi Simplicity card not even four days ago. The CL, although not my highest, was

still an amount I was surprised to receive.

Now today, I receive a pre-approved offer through Capital One for the Platinum Mastercard,

0% apr on purchases, BT's until March 2013.

This offer obviously was sent out before I was accepted for the Citi Simplicity,

but I'm wondering how that would affect my score if I were to apply so soon after applying and being accepted for the Simplicity.

If accepted, I would be using it and as well as the on-the-way Simplicity for BT's.

Any ideas as to how this could affect my inquiry amounts or if I shouldn't even bother applying?

Thanks to all who provide some insight!

Only scores that I know about, as of today: TU 671, updated on Walmart the 5th. EX(I recall?) 668, was alerted to me after being accepted through Citi.

My Credit Karma score was hovering around 685 about half a month ago. Credit Sesame had me around the same. Not sure who they use.

[Anonymous]

You are in with Citi now, I would not step down to Cap1.  Plus the Plat MC from Cap1 is not one of their "prime" cards. 

Now that you are on with Citi, you can afford to be a little more picky on what cards you apply for.  Oh you cannot jump up to a Visa Black just yet, but you have options.

[Anonymous]

The thing is, I have been told and shown that the card I was just accepted for was for people with EXCELLENT credit.

This Capital One card pre-approved offer is for a card that is for people with AVERAGE credit.

Where do I fall with the scores I have?

I am just getting back into the job market this week after having been through multiple different jobs,

and I am now settled to make the money I need to make to enjoy picking and choosing my cards.

Does anyone really believe that you need a MIX of credit, both revolving and installment accounts?

I have a personal loan sitting at 3500 that I was going to pay off with the BT from the Simplicity.

It's giving me 18 months to get that down before interest, which is going to be no problem.

But how much applying is too much within a certain timeframe?

Thank you for your response, psychoinhell!

[rootpooty]

your in with citi now. great now take that offer from cap one and shred it lol. the simplicity so ive heard is one of the hardest cards to get just like the amex bcp.

[Anonymous]

Really rootpooty? I guess I wasn't aware that Citi is very highly respected on these forums. I now have according to many sites, specifically bankrate.com,

that I have the top two balance transfer credit cards.

My Discover More which is sitting right under 4k, and the new and on the way Simplicity, which they gave me a 1,600 CL.

I actually called Citi today asking about a recon on the CL that was given and they asked me some questions regarding annual income

and if i own or rent, which I rent, they asked what my rent was per month, was put on hold for a minute,

and denied my request to go to 2,500.

The rep stated that they need you to have some time on their books (6 months) before looking into an increase.

No problem there.

I'm just in the process of a new job as well as my girlfriend just got her old job back and I am trying to steer her in the right direction credit-wise.

I couldn't do it without all the great support and advice I get from the wonderful people on these forums!

[Anonymous]

You have Discover and Citi, no need to deal with Cap1 anymore, especially one of their cards that are subprime.  They have cards that are more prime, if it was an offer for one of those it would be different.  You are patient and doing fine.  A new card is like planting a seed, you need to give it time to grow   I guess this is why we call it gardening when we are not seeking new seeds to plant.

You are doing well, there is no need to take every offer that comes your way.

[ppiresny]

Capital One sucks in my personal opinion, I have many cards and I refuse to do business with Cap1.

I mean they have their business model set up for people with average credit and people rebuidling but their customer service is very rude and I do not want them on my portfolio.

[Anonymous]

Thank you very much, psychoinhell! It feels good to know that everyone on these forums roots for everyone else.

Would you happen to know anything about the balance transfer details on the Citi Simplicity?

I know they said it has to be within 4 months of acquiring the card to get the 0% for 18 months.

But if I do a balance transfer of the whole credit line and have them cut me a check, can I get it deposited, pay off my personal loan,

then before the next few months, pay back the full credit line balance transfer and then do another balance transfer

from my Discover card before the 4th month?

Or am I mistaken? I'm not going to be making purchases with this card at all, just taking care of some balances and would like

to do both of mine from my loan as well as my other card before the 4th month of having it.

I've tried looking into info and even speaking with a Citi rep but they couldn't divulge anything until I have the card, which is on its way.

[Anonymous]

Your best bet would be to call Citi and ask a CSR those questions.  I am not famaliar with Simplicity and I just got a Citi Thank You card last month, so I am a new Citi customer.

Every offer has different fine print, so if I comment on it (even if the card I got last month was the same as yours), we could be talking about different plans/promotions.

[AndySoCal]

To the OP here is a link to Capital one web site beside the credit levels one left side there linke what is this . Clink on it will display their definitions of Excellent Average etc.

http://www.capitalone.com/creditcards/products/browse-all/rewards/?linkid=WWW_1010_CARD_A7060_CCMAIN...

I think you find the answer to your question