cancel
Showing results for 
Search instead for 
Did you mean: 

Best time to apply for Capital One and other questions

Established Member

Best time to apply for Capital One and other questions

Pacer is showing that yesterday was my discharge date for my chapter 7. I see here and my lawyer suggested getting a credit card as soon as discharge to start building my credit back up. I have never had a capital one card so I want to start there. According to credit karma, my scores are around 560. 😕 Should I apply now? Or wait until discharge papers are in hand? Will the discharge showing up on my credit make my score go up or down? I reaffirmed my car loan but right now it's not showing up at all on my report. Should I wait until it does? Will it make a difference on the credit limit I get? I see people can get anywhere from 300 to 2,000. How is that? Also, I have two zero balance cards that made it thru the chapter 7. They are not showing as closed but I also haven't tried using them either. (VS and Brylane) I'm scared and anxious to start. I have read the "how to" thread already. I think since I have a reaffirmed car loan, I just want to skip over the creditone card and just go with the capital one. Sorry for all the questions. I've been so ready to get restarted and now that I see a discharge date, I'm freaking out. Thanks!
Message 1 of 15
14 REPLIES
Contributor

Re: Best time to apply for Capital One and other questions

Have you pulled a copy of your credit reports yet?  Even if you're not going to strictly follow the "How To" plan, making sure all of your information is reporting accurately is a good first step.

 

Having a higher FICO score is probably one reason that people get higher limits when beginning to apply.

 

Capital One has a prequal site so you can gauge if you'll be approved that won't affect your credit score.  

Personal:| Business:
Filed BK7: 3/24/17 Discharged: 7/3/2017 (Starting scores | EQ: 493 | TU: 496 | EX: 441)
7/17 - EQ: 563 | TU: 549 | EX: 570
8/08 - EQ: 589 | TU: 630(!) | EX: 585
Message 2 of 15
Established Member

Re: Best time to apply for Capital One and other questions

Pre Qual was spot on for me I was discharged 5/22/17, applied and instant approval on 5/23/17 for Capital One Plat. I did have Capital One before with good history and did not IIB. Try the pre qual if it says something I would try

CH7 Discharge: 5/22/2017
Fico 8 6/5/2017: EQ: 608, TU: 576, EX: 578
Current: EQ: 655, TU: 628, EX: 648
Capital One Quicksilver: $600 Victoria's Secret: $250 Overstock: $800 NHL Discover It: $1,200 Cabela's Visa: $3,000 AMEX BCE (AU): $10,000
Current Util : 5.32%
Time to go into the garden for the rest of the year! Considering Cap One Venture App in early 2018.
Message 3 of 15
Established Member

Re: Best time to apply for Capital One and other questions

I was able to get a 300 limit approved one day after pacer showed discharge wife got a 500 limit

Starting Score: 569
Current Score: 698
Goal Score: 720


Take the FICO Fitness Challenge
Message 4 of 15
Established Member

Re: Best time to apply for Capital One and other questions

Oh this was yesterday btw 08/07/2017

Starting Score: 569
Current Score: 698
Goal Score: 720


Take the FICO Fitness Challenge
Message 5 of 15
Established Member

Re: Best time to apply for Capital One and other questions

I have not checked my credit reports yet. When I last looked a week ago, everything was showing a zero balance and many of the accounts dropped off completely....including my car payment. I had no lates ever before filing. Will my score go up or down when the discharge shows up?
Message 6 of 15
Established Member

Re: Best time to apply for Capital One and other questions

Oh, and I did check the capital one prequalifier and it showed me two cards. Should I try it now or wait a bit?
Message 7 of 15
Established Member

Re: Best time to apply for Capital One and other questions

You can try if you want have you been discharged?


Starting Score: 569
Current Score: 698
Goal Score: 720


Take the FICO Fitness Challenge
Message 8 of 15
Established Member

Re: Best time to apply for Capital One and other questions

Yes, pacer is showing my discharge date as this past Monday
Message 9 of 15
Community Leader
Senior Contributor

Re: Best time to apply for Capital One and other questions

I would say to make sure your reports are reporting as they should and then apply for a Cap1 card.

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
730 EQ FICO 11/2017
750 TU FICO 11/2017
735 EX FICO 11/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 10 of 15