lauravalerie

36 Contributions 149 People Helped Top Contributor

Member Since: November 2014

About Me: Just a late-blooming millennial trying to muddle my way through the world of adulthood.

Most Helpful Contribution

how can i increase my credit 100-150 points within a few months

Feb 13, 2015
Helpful to 73 out of 117 people

What do you mean when you say "take out the money from your secure credit card"? Does that mean you close the account?

Activity (36 Total Contributions)

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Credit.... what if i have no credit will i be denied a chance to build anything

Dec 21, 2015
Agree with Secured Cards
Helpful to 11 out of 11 people

Secured cards are definitely a good way to go if you want to build your credit... as long as you use them responsibly. Like LoanRanger said, make sure you use less than 20% of your limit and pay the balance off on time every month. Credit isn't something that works quickly; lenders like to see that you're responsible with money, and that's a long range thing. It takes a lot of patience; sometimes you can be paying regularly for a long time and barely see any spike in your score. But hang in there, because in the long run, it pays off.

Another thing to consider is trying to become an authorized user on the account of someone who already has good established credit. Along with a secured card of your own, it can really make a difference, especially if you don't actually have a copy of that card (it'll mean there's no temptation to use it, but you're still getting the benefit of regular reporting to the bureaus and that helps your score, too). In addition, you may try joining a credit union and applying for a card there; they're usually a bit more liberal with their credit cards, and the interest rates are typically lower as well.

Capital One® Platinum Credit Card

Mar 09, 2015
Helpful to 8 out of 8 people

Thank you so much for this review! I'm in a similar situation - bad credit for most of my adult life. My current CK credit score is 569, and I was just approved for this card with a $500 limit. I'm going to try the credit builder program and see what happens in six months. Hopefully it will help me towards my goal of buying a car.

Capital One® QuicksilverOne® Cash Rewards Credit Card

Jan 05, 2016
Just got upgraded!
Helpful to 10 out of 11 people

I have two Capital One platinum Mastercards. I got an email today from Capital One telling me that I had the option of upgrading the card I've had the longest to a Quicksilver. I've never had a rewards card before, so I'm interested to see how the cash back works.

Purchasing a new vehicle

Dec 21, 2015
Helpful to 2 out of 2 people

I wish I'd had someone like you around when I first entered the world of credit ten years ago... this advice could have saved me lots of trouble! Good thing is, good advice never goes out of style, so thanks for sharing these tidbits. :)

Credit Score is 490, how likely is it that I will get a auto loan?

Feb 03, 2015
Helpful to 19 out of 28 people

Please be careful with the Capital One blank check program. Be sure that they explain very carefully and clearly (and that you understand) the Loan-to-Value policy. I was approved for a Capital One blank check and the rep I spoke with on the phone failed to explain that policy to me. When I got to the dealership and was all ready to sign the paperwork on the car, I was told by the financing officer that because of this policy, I would still have to put down almost $2,000. Also, the program is very limiting in what you can do with the money - the requirements for the amount of the car, the year, the mileage, and the dealership you can buy from are very specific, so just be sure to read all the fine print and make sure you understand the way it works before you commit to use it. And if you decide not to use it, be sure to let them know - there is a penalty fee for not using it.

Best way to consolidating credit cards

Feb 14, 2017
Helpful to 1 out of 1 people

Depending on what your balances are, you could try applying for a balance transfer credit card. I don't have much in the way of advice on which are good balance transfer cards because I haven't tried it yet, but everything I've read says to make sure you do your research. Usually with balance transfer cards, there's a limit on how much time they give you to pay it off, and after the time limit is up, the interest rates could skyrocket.

What is the best/easiest way to build credit?

Sep 09, 2015
Helpful to 1 out of 1 people

I understand, I've been there!! Have you tried applying for a Capital One card? They're pretty liberal with their approvals. I think I started out with a Capital One card. It was a secured MasterCard, which means you have to put down a deposit on the card before you can start using it, but if no one else will give you credit that might be a good place to start. Use the card for gas and groceries, things you'd buy anyway. Try to pay off the balance every month and keep your utilization low (I think the recommended utilization is 10%). Over time, that should help - Capital One is really good about reporting to the credit bureaus, and that will raise your score to where you can apply for other cards and other types of credit.

Hope that helps!

how can i increase my credit 100-150 points within a few months

Feb 13, 2015
Helpful to 73 out of 117 people

What do you mean when you say "take out the money from your secure credit card"? Does that mean you close the account?

Capital One® Platinum - EXPIRED OFFER

Mar 02, 2015
Good card for rebuilding credit
Helpful to 2 out of 3 people

I really don't remember much about the application process for this card, since it was almost two years ago that I applied for it. However, I do remember that at the time, I think I was at about a 580 score, and they approved me pretty quickly with a $500 limit. After about six months of paying my bill on time every month, (without even asking) they increased my credit line to $750. The Capital One app is great - easy to use and super convenient. Also, even though I use Credit Karma, I like the fact that Capital One gives me free access to Credit Tracker, as well.

If I just paid off most of my credit cards why is my credit score going down

Feb 23, 2016
Helpful to 4 out of 7 people

If you've paid them off and closed them, that could be why; it means you now have less individual accounts and less overall revolving money.

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