@EAJuggalo wrote:
@HowDoesThisAllWork wrote:
@FireMedic1 wrote:Welcome @Binbinimiwi
Your answer is in your question. FICO likes 3 revolvers and 1 loan for the rebuild bonus. You can try Cap1 pre-qual and see if you are offered a card. Stay away from the QS1. They been handing out a lot of 3000 SL's lately. Once you get to 3 cards. Only have 1 report every month and then PIF before the due date. You already have the loans covered with your SL's. So 2 more cards and let the rebuild begin. If approved. Give Disco secured a shot. They graduate. Good luck!
Curious what is behind this advice?????? And what it means!
Thanks, as always!
I believe PP is referring to the very annoying Capital One habit of never letting you get away from an annual fee. If you have a card with an annual fee like the QS1, you will never be able to PC it to something without one. You're better off starting with a Platinum, giving it six months then PC that to a standard QS. You might miss the CB for those six months but it is more than made up for by the AF you're not paying for a 1.5% CB card. Cap1 did this to me when I started with them a few years ago, thankfully at that time they were allowing account combinations so I was able to combine my QS1 into my QS. My understanding is that is no longer an option.
Got it! Thank you. I wanted to specifically ask that question so that everyone would see that @FireMedic1 was specifically talking about the QuickSilver One (aka, QS1) - which has an Annual Fee of $95 - and ***NOT*** talking about the QuickSilver (aka, QS) - which does not have an Annual Fee.
It is easy to overlook the difference between the QS1 and QS.......
Thank you!
Starting Score: Exp 627
@EAJuggalo wrote:
@HowDoesThisAllWork wrote:
@EAJuggalo wrote:
@HowDoesThisAllWork wrote:
@FireMedic1 wrote:Welcome @Binbinimiwi
Your answer is in your question. FICO likes 3 revolvers and 1 loan for the rebuild bonus. You can try Cap1 pre-qual and see if you are offered a card. Stay away from the QS1. They been handing out a lot of 3000 SL's lately. Once you get to 3 cards. Only have 1 report every month and then PIF before the due date. You already have the loans covered with your SL's. So 2 more cards and let the rebuild begin. If approved. Give Disco secured a shot. They graduate. Good luck!
Curious what is behind this advice?????? And what it means!
Thanks, as always!
I believe PP is referring to the very annoying Capital One habit of never letting you get away from an annual fee. If you have a card with an annual fee like the QS1, you will never be able to PC it to something without one. You're better off starting with a Platinum, giving it six months then PC that to a standard QS. You might miss the CB for those six months but it is more than made up for by the AF you're not paying for a 1.5% CB card. Cap1 did this to me when I started with them a few years ago, thankfully at that time they were allowing account combinations so I was able to combine my QS1 into my QS. My understanding is that is no longer an option.
Got it! Thank you. I wanted to specifically ask that question so that everyone would see that @FireMedic1 was specifically talking about the QuickSilver One (aka, QS1) - which has an Annual Fee of $95 - and ***NOT*** talking about the QuickSilver (aka, QS) - which does not have an Annual Fee.
It is easy to overlook the difference between the QS1 and QS.......
Thank you!
$95 now? I thought it was bad enought at $39 and was glad to be rid of it.
No, my bad! Still at $39. Brain fart moment!
@HowDoesThisAllWorkThe QS1 is a brick as I used to call it. Doesnt go anywhere. Hard to PC. The Plat is easier to go to a QS than the QS1. See below. Didnt last long. RIP.
And wonder of all wonders .... my score is only showing a 3point drop for both HP's on Experian. I'll have to see next month what TU & EQ look like, but I'm absolutely stunned!!
>>
@FireMedic1 wrote:@HowDoesThisAllWorkThe QS1 is a brick as I used to call it. Doesnt go anywhere. Hard to PC. The Plat is easier to go to a QS than the QS1. See below. Didnt last long. RIP.
Agreed! I PC'd from the Platnium to the QS.....I was wise on that front (because of this Forum). RIP indeed!
I've been researching the forum a bit and lots of people recommended Cap1 for a lot of reasons. I figured out I would like 5 cards total, so I'm looking at the AmEx Gold, NFCU Platinum, and the Cap1 Venture. I was thinking of getting the Platinum and then attempting a PC to the Venture or just doing an app for the Venture. I've received 2 pre-approved mailers for the Platinum from Cap1 in the past 3 months, but ignored it b/c I was afraid to apply for anything at the time. Why is the Platinum a bad idea? What was your experience with it?
Got it! Thanks so much for the explanation about the score drop and the Cap1 cc's. There's so much to understand and learn about it all, which is why I am here. I hope to be able to pay it forward one day by sharing what I've learned with someone else who needs help,