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Really Confusing Capital One Offer

david_weaver

By david_weaver,
in Credit Forum

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The last post in this topic was posted 3865 days ago. 

 

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david_weaver

david_weaver

Posted
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So I get this offer int mail for Capital One, for the Quicksilver. On the outside of the envelope, on the enclosed letter, on the website, it says PRE-APPROVED.

 

But then it states that in Capital One speak, 'pre-approved' means you meet the initial criteria and are LIKELY to be approved.

 

So is this not simply PRE-QUALIFIED and not pre-approved?

 

Yes, it has the opt-out language.

 

I have a CapOne with a $1,000 limit, basically the lowest of my cards. It only has that as the EO got it raised from $300 after two years of no increases.

 

The enclosure states the minimum credit, if approved, would be $500.

 

I see in CreditPulls they may try to pull all three, but even with EX frozen, they will absolutely pull TU and EQ.

 

Look, if they are going to give me, say $3,000-$5,000 (which is where most of my limits are), then I am game even if just to keep utilization low. But I sure do not need several pulls, a lowering of my AAOA, and then I get a $500 limit. Hell, I get offers from Victoria's Secret every day higher than that.

 

So anyone have any experience with these? Should I bite or should I throw it in the trash?

 

 

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Demonico

Demonico

Posted
Posted

 

If you really want a QS, I'd PC your current card.

 

Knowing how Cap1 is with CLs and CLIs and the cards they have to offer, I'm not sure why anybody would want more than 1.

 

As you can see CV love C1 as much as his Walmart Discovery.

 

I agree with the PC. I just had mine PC'd with them. That way you existing card is more useful than their old rewards program.

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cv91915

cv91915

Posted
Posted (edited)

 

 

If you really want a QS, I'd PC your current card.

 

Knowing how Cap1 is with CLs and CLIs and the cards they have to offer, I'm not sure why anybody would want more than 1.

 

As you can see CV love C1 as much as his Walmart Discovery.

 

I agree with the PC. I just had mine PC'd with them. That way you existing card is more useful than their old rewards program.

 

 

I value them as much as they value me. After two EO increases in 2013 and 2014 (~290% and 100%, respectively) the limit on my QS is still way near the bottom of all of my major cards, and still more than 80% lower than my highest limit. Not sure what I'm supposed to do with that, besides b1tch.

Edited by cv91915
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Demonico

Demonico

Posted
Posted

 

 

 

If you really want a QS, I'd PC your current card.

 

Knowing how Cap1 is with CLs and CLIs and the cards they have to offer, I'm not sure why anybody would want more than 1.

 

As you can see CV love C1 as much as his Walmart Discovery.

 

I agree with the PC. I just had mine PC'd with them. That way you existing card is more useful than their old rewards program.

 

 

I value them as much as they value me. After two EO increases in 2013 and 2014 (~290% and 100%, respectively) the limit on my QS is still way near the bottom of all of my major cards, and still more than 80% lower than my highest limit. Not sure what I'm supposed to do with that, besides b1tch.

 

I don't plan on keeping my Cap1 cards much longer.

 

I haven't closed them because I plan to refi my house and want to have my scores up as high as possible until that is done.

 

When that is done about 1/2 my cards are getting the axe, possibly literally but I haven't decided.

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TheDrewbert

TheDrewbert

Posted
Posted

I'm looking at a Quicksilver as a cashback card. I run all of my work related travel expenses through my US Airways card right now, but I've already hit the $25k to get the promo miles. I run between $4,000 - $6,000 worth of work travel expenses through my card each month. I don't really need any travel rewards cards, so I was looking at this instead. Think this is the best rewards card for my situation?

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mendelssohn

mendelssohn

Posted
Posted (edited)

I'm looking at a Quicksilver as a cashback card. I run all of my work related travel expenses through my US Airways card right now, but I've already hit the $25k to get the promo miles. I run between $4,000 - $6,000 worth of work travel expenses through my card each month. I don't really need any travel rewards cards, so I was looking at this instead. Think this is the best rewards card for my situation?

Fidelity Amex, flat rate 2% cash back on all purchases.

Edited by mendelssohn
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cv91915

cv91915

Posted
Posted

 

I'm looking at a Quicksilver as a cashback card. I run all of my work related travel expenses through my US Airways card right now, but I've already hit the $25k to get the promo miles. I run between $4,000 - $6,000 worth of work travel expenses through my card each month. I don't really need any travel rewards cards, so I was looking at this instead. Think this is the best rewards card for my situation?

Fidelity Amex, flat rate 2% cash back on all purchases.

 

 

+1

 

The 1.5% on the QS should be the minimum anyone accepts for a cash back card.

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TheDrewbert

TheDrewbert

Posted
Posted

Hmm, I was under the impression that the Fidelity card was for really high rollers with 990+ credit scores. I'm right at 700. I have Discover ($9k), US Airways ($5.5k), Merrick ($2k), Kohls ($300), Target ($1.5k), PNC ($2k). I never carry a balance, but as I said, I do run about $6k through the US Airways and Discover card each month so it might look like I'm carrying on my report.

 

I have 1 inquiry on all three reports (Ally auto lease from August 2013 - Approved) and 2 baddies that are falling off this month and october respectively. I wasn't planning on pulling the trigger on any credit until after the baddies fall off, but I am gun-shy about going for the Fidelity card.... I already have my 401k, IRA, and a brokerage account with them. I'm waiting to cancel Merrick till I beef up some of the prime credit lines.

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cv91915

cv91915

Posted
Posted

Hmm, I was under the impression that the Fidelity card was for really high rollers with 990+ credit scores. I'm right at 700. I have Discover ($9k), US Airways ($5.5k), Merrick ($2k), Kohls ($300), Target ($1.5k), PNC ($2k). I never carry a balance, but as I said, I do run about $6k through the US Airways and Discover card each month so it might look like I'm carrying on my report.

 

I have 1 inquiry on all three reports (Ally auto lease from August 2013 - Approved) and 2 baddies that are falling off this month and october respectively. I wasn't planning on pulling the trigger on any credit until after the baddies fall off, but I am gun-shy about going for the Fidelity card.... I already have my 401k, IRA, and a brokerage account with them. I'm waiting to cancel Merrick till I beef up some of the prime credit lines.

 

Do obsolete disputes on your remaining derogs.

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Occam

Occam

Posted
Posted

Hmm, I was under the impression that the Fidelity card was for really high rollers with 990+ credit scores. I'm right at 700. I have Discover ($9k), US Airways ($5.5k), Merrick ($2k), Kohls ($300), Target ($1.5k), PNC ($2k). I never carry a balance, but as I said, I do run about $6k through the US Airways and Discover card each month so it might look like I'm carrying on my report.

 

I have 1 inquiry on all three reports (Ally auto lease from August 2013 - Approved) and 2 baddies that are falling off this month and october respectively. I wasn't planning on pulling the trigger on any credit until after the baddies fall off, but I am gun-shy about going for the Fidelity card.... I already have my 401k, IRA, and a brokerage account with them. I'm waiting to cancel Merrick till I beef up some of the prime credit lines.

The Fido Amex 2% or the NASA Visa 2% (in that order) would be best. Preferably both to cover both networks.

 

Your chances with either are probably poor at 700 though - check credit pulls. But you could join NASA today and app for the card later.

 

On 5k/month, the Quicksilver will return $25/month less. Good to have as a backstop anyway, if you can stomach the multiple pulls.

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TheDrewbert

TheDrewbert

Posted
Posted (edited)

 

Once they actually are obsolete.

You can usually get them off 3-6 months early.

 

 

I'm not in any rush at all. I've owned my house for 13 years and not moving any time soon, I've owned my rental properties for 7 years. I have 2 paid off cars and one car on lease. Aside from mortgages, I have no real debt to speak of. I'd rather just let these two die a quiet, unnoticed death rather than risk anything from the CRAs.

Edited by TheDrewbert
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Demonico

Demonico

Posted
Posted

 

 

Once they actually are obsolete.

You can usually get them off 3-6 months early.

 

 

I'm not in any rush at all. I've owned my house for 13 years and not moving any time soon, I've owned my rental properties for 7 years. I have 2 paid off cars and one car on lease. Aside from mortgages, I have no real debt to speak of. I'd rather just let these two die a quiet, unnoticed death rather than risk anything from the CRAs.

 

There is no risk with an obsolete dispute, which is why it is ok to do them online.

 

Worst case they say no and it falls off soon anyway.

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TheDrewbert

TheDrewbert

Posted
Posted

 

 

 

Once they actually are obsolete.

You can usually get them off 3-6 months early.

 

 

I'm not in any rush at all. I've owned my house for 13 years and not moving any time soon, I've owned my rental properties for 7 years. I have 2 paid off cars and one car on lease. Aside from mortgages, I have no real debt to speak of. I'd rather just let these two die a quiet, unnoticed death rather than risk anything from the CRAs.

 

There is no risk with an obsolete dispute, which is why it is ok to do them online.

 

Worst case they say no and it falls off soon anyway.

 

 

I have 11 days till the end of June for the worst one, and then on July 1st I leave for a trip to Europe for 2 weeks. I can wait. ;)

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