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Established Member
Posts: 16
Registered: ‎07-27-2017
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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!
Contributor
Posts: 90
Registered: ‎05-26-2017
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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
Established Member
Posts: 24
Registered: ‎06-01-2017

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: 661, TU: 642, EX: 650
Capital One Plat: $500
Victoria's Secret: $250
Overstock: $500
NHL Discover It: $1200
Time to go into the garden for the rest of the year unless I get a really nice Pre-Approval mailer!
Established Member
Posts: 22
Registered: ‎06-26-2008
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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


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Established Member
Posts: 22
Registered: ‎06-26-2008
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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


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Established Member
Posts: 16
Registered: ‎07-27-2017
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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?
Established Member
Posts: 16
Registered: ‎07-27-2017
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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?
Established Member
Posts: 22
Registered: ‎06-26-2008
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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
Established Member
Posts: 16
Registered: ‎07-27-2017
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Re: Best time to apply for Capital One and other questions

Yes, pacer is showing my discharge date as this past Monday
Community Leader
Senior Contributor
Posts: 5,405
Registered: ‎07-12-2012

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
732 EQ FICO 08/2017
743 TU FICO 08/2017
735 EX FICO 08/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $17k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE

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