I got approved!

For just about anything you want to get off your chest about credit cards.
9 posts
jupiter
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I got approved!

Postby jupiter » Thu Mar 07, 2013 5:06 pm

I've been using a secured credit card for the last 7 months now, and decided to try seeing if I could get something better. After going to my credit union, they denied me since I only had the one line of credit. However, they did suggest that Capital One would likely take me without any issue. Even though CO is on the low-end of issuers, I took a chance since it would at least be something, and it would probably help me get either the Discover It card, or Chase's Amazon card in another 6-8 months or so. I was approved within 20 seconds, and while the APR is extremely high (over 20%), I always pay my balance in full, so that won't be an issue. Like I said before, yes it's not the best card by a long shot, but it's a step above what I had before, is the first unsecured card I've been approved for, and will hopefully help me get better cards before 2013 is up =).


s.jessica
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Postby s.jessica » Thu Mar 07, 2013 5:55 pm

Cap1, really isn't so bad -- they really get treated unfairly because the pumpkin won't turn into a limo. Try to find another lender who will give you credit now Chase won't, Citi won't, but having that Cap1 card on your credit reports looks just as good as anything else. You have it right, you will have 2 cards reporting and in 6 months you should be able to apply for something much better with no problem.

You should be happy a do a little dance, you were approved for an unsecured card and there are some people out there being denied secured cards. Okay enough dancing........

MemberSince99
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Postby MemberSince99 » Thu Mar 07, 2013 6:46 pm

Jupiter's ... uh....nose!

Sorry couldn't resist (you know what I mean if you watch the Spartacus series). Congrats to you!

DavidNY
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Postby DavidNY » Thu Mar 07, 2013 10:22 pm

Nice.

If you still want a secured card, the one from BofA looks like any other card on the credit report and should convert to an unsecured card after a year or so of good payment history.

dickey1331
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Postby dickey1331 » Thu Mar 07, 2013 11:41 pm

Congrats!

For the next card I would go with Discover over the Amazon card.
Platinum Delta Skymiles $12,900
Marriott Rewards Premier $12,000
Discover IT $12,000
USAA Cash Rewards $11,000
American Express Blue Cash Preferred $10,000
Chase Sapphire Preferred $6,500
Best Buy $6,000
Chase Freedom $4,500
Zales $4,000
Amazon Prime $4,000

BLUVSU2
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Postby BLUVSU2 » Fri Mar 08, 2013 12:53 am

Congrats. I just got my first secured card after MANY years of no cards. But I have grown up since then. So in a year or so...I will be moving on up.

jupiter
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Postby jupiter » Sat Mar 09, 2013 5:04 pm

Thanks everyone =). Don't get me wrong, I AM glad I got approved for an unsecured card. The way I see things, yes it's on the low end of unsecured credit, but it is still a decent second line to help improve my credit history. Even if I just get the one CLI from them, it doesn't really matter since I'm eyeing other cards for the future.

S. Jessica - Lol yeah I did my happy dance after seeing the approval message. I really thought sending the application would turn out to be a mistake.

DavidNY - Thanks for the tip, but I'm not really looking for another secured card right now. I would rather wait 6-8 months to get Discover or Chase's Amazon than freeze more funds to hopefully get another unsecured card in a year's time.

dicky1331 - Is there any reason why you would go for the It over Amazon? Is it simply because of the 5% in rolling categories?

dickey1331
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Postby dickey1331 » Sat Mar 09, 2013 9:40 pm

jupiter wrote:dicky1331 - Is there any reason why you would go for the It over Amazon? Is it simply because of the 5% in rolling categories?


Yeah the 5% would be the main reason. I have the Amazon card and I like it but Id go with the 5% plus Discover has very good customer service.
Platinum Delta Skymiles $12,900
Marriott Rewards Premier $12,000
Discover IT $12,000
USAA Cash Rewards $11,000
American Express Blue Cash Preferred $10,000
Chase Sapphire Preferred $6,500
Best Buy $6,000
Chase Freedom $4,500
Zales $4,000
Amazon Prime $4,000

TheLethargicAge
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Postby TheLethargicAge » Tue Mar 12, 2013 4:16 pm

Congratulations! A lot of us started out with Capital One. They gave me my first card back in 2000, started out with $200 CL and over the next 3-4 years it grew to 9K. Unfortunately, I had to include it in the debt payment program and it was closed as a result, but to their credit they were very understanding and didn't put any negative comments on my credit report. Once I pay off all my debts, I think I'll apply for their Cash Rewards Visa Signature card. I think it would make a very nice catch-all card (1% on everything plus a 50% bonus every year ain't too shabby!)
Blue Cash Preferred ($24K), Costco TrueEarnings ($8K), Better Balance Rewards ($6K), CashForward ($15K), Sallie Mae Rewards ($10K), Quicksilver ($17K), AARP Rewards ($15K), Freedom ($15K), Double Cash ($16.5K), It ($28.5K), Fidelity Investment Rewards ($18K), Cash+ ($11K)



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