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@Time2letgo wrote:
@Anonymous wrote:Hi there! First-time poster and happy to be here! I just had a question. I know lenders and score monitors can use different models and come up with different score numbers, but I currently use Credit Karma and show a 630/636 Transunion/Equifax. I went on to their "Recommendations" page, and saw that their approval odds for the Capital One® Platinum Credit Card were at "Very Good". It's the first time that I've seen those odds on there, but I'm skeptical about applying and adding an inquiry to my report. Does anyone have any advice that they think may help me decide whether or not to apply? any knowledge of this particular cards' average approval score(s) or bureau they use to pull scores from? Any help would be appreciated. Thanks a bunch!
Welcome to the forum. Without knowing much about your file, the one question I can answer for you is that Capital One will pull from all 3 bureaus, so you will have 3 hard inquiries. Good luck.
Hey there, thank you for the reply! Anyone know how I can add information about my file?
@luxlight wrote:Welcome to myFICO. So the main thing that most people mention is that the "preapprovals" that CreditKarma shows are really nothing other than ads. If you want to actually check for preapprovals with certain banks. Most of them such as Chase, Discover, Capital One, etc. have their own preapproval pages that would be much more accurate than what CreditKarma is trying to show.
Thank you! So I took your advice and went to Capital One's Pre-qualify page. They displayed the same card that CK did saying I pre-qualified for it. I edited my original post to include some information from my CK file to hopefully give someone the information they may need to recommend continuing with the application or not?
@Anonymous wrote:
@luxlight wrote:Welcome to myFICO. So the main thing that most people mention is that the "preapprovals" that CreditKarma shows are really nothing other than ads. If you want to actually check for preapprovals with certain banks. Most of them such as Chase, Discover, Capital One, etc. have their own preapproval pages that would be much more accurate than what CreditKarma is trying to show.
Thank you! So I took your advice and went to Capital One's Pre-qualify page. They displayed the same card that CK did saying I pre-qualified for it. I edited my original post to include some information from my CK file to hopefully give someone the information they may need to recommend continuing with the application or not?
Hi Bmajor, I suggest doing what others have recommended and check ALL the prequal sites, not just Capital One. You should be choosing a card/cards that have benefits you want/need, not just because a website "recommends" them. You may be limited now, but in time as your score improves, you will have plenty of options. Good luck in your journey!
@ChessChik47 wrote:
@Anonymous wrote:
@luxlight wrote:Welcome to myFICO. So the main thing that most people mention is that the "preapprovals" that CreditKarma shows are really nothing other than ads. If you want to actually check for preapprovals with certain banks. Most of them such as Chase, Discover, Capital One, etc. have their own preapproval pages that would be much more accurate than what CreditKarma is trying to show.
Thank you! So I took your advice and went to Capital One's Pre-qualify page. They displayed the same card that CK did saying I pre-qualified for it. I edited my original post to include some information from my CK file to hopefully give someone the information they may need to recommend continuing with the application or not?
Hi Bmajor, I suggest doing what others have recommended and check ALL the prequal sites, not just Capital One. You should be choosing a card/cards that have benefits you want/need, not just because a website "recommends" them. You may be limited now, but in time as your score improves, you will have plenty of options. Good luck in your journey!
I wish I had seen your message earlier. I had decided to apply for the one I saw on the Capital One website. I ended up getting approved for a $300 limit! I was speechless and couldn't believe what I was seeing! The only real need I have is at this time is rebuilding my credit profile, so a card with a lower limit is kinda perfect, especially if I'm able to be responsible enough with it. I'll keep you folks updated, and thank you again for all of the advice!
If you are serious about building, then you need to get a copy of your Fico scores. You can get a trial at creditchecktotal.com for next to nothing. The ones from Credit Karma could be( and probably are) way off from where your fico scores are at. I know mine are about 60 points lower now on CK than my fico scores. When my file was dirty, then they were higher than my fico.
It will take a couple of months before the capital one reports, but you should get a nice boost once it does, just keep your reported utilization below 8.9% of the card limit. Since you do not have any revolver on your report then you are getting dinged for no revolving credit.