help w/ building credit and getting CC

[Anonymous]

I would go with the Quicksilver One... good luck!

[Anonymous]

Got the Quicksilver! only a $500 limit though... think if i call recon i can get that bumped up?  Thanks for the encouregement guys! After B of A wouldnt even recon me i was getting gun shy for trying anymore and getting pulls for nothing. Cant wait to have my credit where it needs to be so i can grow my business faster and start buying investment properties.

[Anonymous]

Congrats! I know it's not the starting limit you hoped for, but it will grow. I'm not sure you can recon with Capital One, but you can try. I would just wait for 2 1/2 to 3 months and request a CLI. You might also be enrolled in credit steps, so it should get an auto CLI by the 5th or 6th statement. Just use it heavy and make large payments for the first couple of months, and you should get a good increase.

[jamie123]

Congrats! Good job!

I would suggest sitting tight for the next 6 months and just garden these cards. You will start building good history and your scores will rise month to month.

At the end of January 2016 you might want to app for 2 more cards. Make sure that Discover is one of them. Stay away from BoA. BoA doesn't like newbies to credit so much. Perhaps a Barclays might work for you at that point.

If you shop at Walmart at all, that would be the only other card that I would recommend you app for right now. You should get it if you app for it now.

[Anonymous]

Thanks guys, what other cards you think i could get and have pre approval that will really tell you? I plan to use these pretty heavy as i spend alot every month on business expenses anyway. Should i pay them of every month? Ive heard you should keep a little balance on the for best building but i really dont want to pay any interest on stuff  i could just pay cash for.

[Anonymous]

If you really want to app, take the other poster's advice and try for Walmart (if you would use it) or there's the Amazon store card (I wouldn't try for the Amazon Visa because it's by Chase and you just got approved for them)--but there is no pre-qualifier for these. Walmart was my very first card when I started rebuilding, so they're not too hard to get.

As far as how to use your other cards, I would let the statement cut with small balance and then PIF. If you time your purchases payments just right, you can let a small balance post on the statement and still not have to pay interest on the rest. You should get a grace period on most cards.

**Edited: I meant to say "payments" not "purchases"

[Jeff532003]

Capital one loves spenders and doesn't so much like people who carry large balances. My guess is a lot of their buisness model accounts for revenue from swipe fees. Use the quicksilver a lot and always pay in full. Run all you can through it even if you have to pay on it 2-3 times a month. They will see that you are using it as an alternative to cash and that your limit is to low because your spending more than that a month. This should net you a 1000 dollar or better increase after the 5th statement cuts. I wouldn't hit the luv button to much before then. Some people get it after 3 months but only a few hundred dollars. It seems if you wait it out then people report much nicer CLI. Cap one is also only good for a CLI every sixth month or so on average. If you get denied before then it will almost always say the reason is the account was recently awarded a CLI.
I love capital one myself. I started with a 500 dollar quicksilver and a 300 dollar journey card about a year ago. Those cards now sit at 3500 and 2300 respectively. I also have a Venture card with them for 10k along with many other major bank cards in the 2-3k range that I would have never been able to get if not for the start they gave me. Cap one is big on personal relationships. You work with them and they will work with you.
If you would like to recon I can give you the EO email if you PM me. They're very nice but to be honest I don't think you will have lots of luck at this point. If you do want another card you can apply for that cap one platinum. You'll likely get it even though you just opened the quicksilver. The journey would work too and that one is a visa. Even if your not a student just select you are. They don't check.

[Anonymous]

So Discover made it looked ike i was good for the IT card so i went for it but they said id have to wait to see.... Ill call Recon tomorrow to see whats up with it and hopefully talk my way in to it. I hope they dont do me like B of A and say no. I'll be happy and done applying for anything for quite awhile if i can get this 3rd card, that will give me plenty of options to spread out my business expenses and PIF each month....

[Anonymous]

Thank You Jeff!!! i did get the other Cap 1 card again w/ a $500 limit. So now Ive got 3 cards in the past couple days and hopefully Discover will come thru too! This forum has been great! I only wish i found it years sooner! I was so tired of not getting accepted and felt that i didnt deserve to have to secure a card i just let it go by the wayside. Now Im up and running and cant wait to build a awesome score in record time!  

[Anonymous]

How ca i  let the statement cut and then PIF. and time my purchases just right, so i can let a balance post on the statement and still not have to pay interest. Like the gentleman above said?