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Success - Cap One CC

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    Success - Cap One CC

    I was approved for a Cap One Quicksilver Card today. It is a cash back card, (1.5%), with and annual fee of $39.
    (Cash back will probably pay for the annual fee).
    Initially I was offered a secured card but I turned it down.

    I want to thank all those who took the time to post their experiences applying for CC's especially with Cap One. Your posts gave me the encouragement to try to get a CC straight out of bk and it worked.

    I fully disclosed my bankruptcy and my desire to restore my credit rating. I turned down the secured card. I requested and was approved for a regular CC.

    I will be using this card for normal monthly expenses and paying the balance monthly. I believe the recommendation is not to exceed 30% of the CC's limit for the best credit rating. Please correct me if I am wrong.

    Thanks to all.

    #2
    My understanding is that keeping utilization below 30% will keep the utilization from hurting your score and keeping it below 10% will improve your score. Either way, the use of the card and timely payments should help improve your score.
    LadyInTheRed is in the black!
    Filed Chap 13 April 2010. Discharged May 2015.
    $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

    Comment


      #3
      LadyInTheRed,

      Thanks for clearing that up for me.

      Comment

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