Capital one platinum

[Egaffne2]

I have the QuicksilverOne with a $500 limit. If I get the platinum will I have a starting limit of $500? Or could it be more or only $300? Also on Experian fico score simulator it says if I get a card with $500 limit my score will go up 5 points, does that sound right? What do you guys think, thanks in advance!

[Hockeypnc1]

How does the rest of your file look?

How many cards do you have open?

[Egaffne2]

That's the thing, I have a pretty thin file. 2 open cards with TU and EQ and 3 open cards with EX. The third card is a Chase account I am an AU on and for some reason it is only showing on EX. I have no new accounts in last 5 months and 1-2 inquiries depending on CRA in the last 2 years.

[FireMedic1]

Have you tried the Disco pre-qual yet? Ignore any simulators. They're not accurate. Do you know your FICO scores?

[Egaffne2]

Yeah I've tried discover but I only get offer for secured. All my fico scores are around 600. Does anyone have experience with getting a second capital one card, what was their starting limit? If mine would be $500 I would prefer that than paying $200 for a secured, that money could be used toward a negative account or something.

[dynamicvb]

With scores around 600, then I think you should just sit tight with what you have and let things age. Regardless of the lender, then you are likely going to be looking at a low limit or secured cards. Just keep your reported utilization down on your cards and you should start to see some improvement.

What baddies do you have on your reports that are keeping your scores down? While they are aging you should try to see if you can get those off, if post them all out then someone will be able to give you some pointers on how to clear them up.

You did not mention any loan, do you have any installment reporting? If not, then you may want to look into a secured savings loan or something similar to fix your mix.

[Remedios]

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@Egaffne2 wrote:
Yeah I've tried discover but I only get offer for secured. All my fico scores are around 600. Does anyone have experience with getting a second capital one card, what was their starting limit? If mine would be $500 I would prefer that than paying $200 for a secured, that money could be used toward a negative account or something.

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I think minimum deposit for Disco is $200.00. If you change your mind later, they allow more money be added to the deposit. 

No clue what your limit would be on second Cap One starter card, probably $300, but why apply for second starter card that wont go anywhere?

If you feel like you must apply for another card, Disco is the way to go. 

[Shooting-For-800]

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@Egaffne2 wrote:
I have the QuicksilverOne with a $500 limit. If I get the platinum will I have a starting limit of $500? Or could it be more or only $300? Also on Experian fico score simulator it says if I get a card with $500 limit my score will go up 5 points, does that sound right? What do you guys think, thanks in advance!

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Completely depends.  Might even be higher (might not).

My first two Plat Cap One cards after rebuilt started were $3k each.

My next two were $10k each.

[Egaffne2]

As far as a loan or installment I am in the process of getting my student loans rehabilitated and I'm in like my 7th month out of 9 so that will be a positive when completed. Really I've just been attacking negatives, I got one charge off removed and a collection gone in the last month. The next neg I am gonna attack is key bank. It's a closed account with $1035 balance and even though it's closed it's still reporting and factoring into my utilization. It never got sold to collection. Does anybody think I could get them to pfd? As far as a credit card goes I would like to build my profile up but I dono maybe I will wait but I was thinking if capital one would give me a $500 or more limit it would be worth it and the platinum has no AF and could eventually product upgrade. I know discover is good too. I'll probably hold off for the moment and thanks all for the advise and let me know if you have any more recommendations.

[calyx]

You definitely want to sit tight and finish out that rehab.
Along with giving your accounts even more time to age, and more time to get your derogs taken care of, that SL reporting positive will help your score.

Hold on there, you're doing fine

As for the PFD:  It's rare (if it happens at all) that the original creditor will do a PFD.   If you can negotiate for a settlement, or pay it in full, at least it will stop reporting and the derogatory mark can start aging and affecting your score less.