When is it time to go for sub-prime? Itching...

[kurdany03]

I may be a little anxious here, but I need some help on whether to chill out, or start going for it.

I just started rebuilding, I got a WF Secured $300 limit, and a Cap One Quicksilver One $300 late last month. I've only been using the CapOne card since.

But there is this CONSTANT itch that wants me to apply for more....specifically the Venture One. I have my reasons, but I'd mainly love to have a card where I can get miles and stuff...is it too early?

My FICO scores are low 600's, but I expect them to jump this month, cause I've just been using the one card, making multiple payments, and my utilization is in the 10% range.

What should I do?

[jbsea]

Well I understand the itch... but I would wait a little bit.  Your scores will need to come up a bit for the Venture.  Let your cards age a little bit.  If you have any baddy's holding your score down you might want to work on those while you wait.

[Anonymous]

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@kurdany03 wrote:

I may be a little anxious here, but I need some help on whether to chill out, or start going for it.

I just started rebuilding, I got a WF Secured $300 limit, and a Cap One Quicksilver One $300 late last month. I've only been using the CapOne card since.

But there is this CONSTANT itch that wants me to apply for more....specifically the Venture One. I have my reasons, but I'd mainly love to have a card where I can get miles and stuff...is it too early?

My FICO scores are low 600's, but I expect them to jump this month, cause I've just been using the one card, making multiple payments, and my utilization is in the 10% range.

What should I do?

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Get a second Cap One QS1 card, a third card will move your scores up faster. I wouldn't app for the venture until all scores are in the upper 600's.

[kurdany03]

Ok..thanks! Will try that out.

It's just hard sometimes sitting here reading this board, plus the app board and you see so many approvals, lol. But I know everyone is diff, and I should just sit and wait and do whats best for me... *sigh*

Thanks guys!

[Anonymous]

I can definitely understand that.  I believe a lot of us were there also.  Keep focused on your goals, get your scores up a bit more, and you will be on your way in no time! 

[crrredit]

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@Anonymous wrote:

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@kurdany03 wrote:

I may be a little anxious here, but I need some help on whether to chill out, or start going for it.

I just started rebuilding, I got a WF Secured $300 limit, and a Cap One Quicksilver One $300 late last month. I've only been using the CapOne card since.

But there is this CONSTANT itch that wants me to apply for more....specifically the Venture One. I have my reasons, but I'd mainly love to have a card where I can get miles and stuff...is it too early?

My FICO scores are low 600's, but I expect them to jump this month, cause I've just been using the one card, making multiple payments, and my utilization is in the 10% range.

What should I do?

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Get a second Cap One QS1 card, a third card will move your scores up faster. I wouldn't app for the venture until all scores are in the upper 600's.

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+1 on this sound advice, based on personal experience.

[kurdany03]

Ok, so once I apply and get the card....I dont use it, right?

[Anonymous]

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@kurdany03 wrote:

Ok, so once I apply and get the card....I dont use it, right?

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Use it as much as you like, just PIF each month. Request CLI after the third statement. I use all three of my cards and keep them paid down. Right now I've got balances from moving expenses in May, but that will be taken care of by the end of this month.