Success - Cap One CC

[nioka]

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.

[LadyInTheRed]

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.

[nioka]

LadyInTheRed,

Thanks for clearing that up for me.