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Burned Saks Fifth Avenue Card will i be banned from Capital One?

Valued Member

Burned Saks Fifth Avenue Card will i be banned from Capital One?

Long story short I am terrified of not getting approved for a CC after my DC. I hear Cap1 is Bk friendly. I Never had a Cap1 card but i did have a saks card that is with cap1  and I am burning them for close to $33k will they never let me back in? My dc is only in july but I am so streesed with rebuilding already. 

BK7 Filed 03/30/17
341 Meeting 05/03/17
Finally DISCHARGED!! 10/30/17

Cap One Plat CL $3000
2 REPLIES
Valued Contributor

Re: Burned Saks Fifth Avenue Card will i be banned from Capital One?

Cap 1 is said to be  forgiving after bk even if they were burned.   Read the post of post bk friendly cards.   Just move slowly and take your time. 

Message 2 of 3
Established Contributor

Re: Burned Saks Fifth Avenue Card will i be banned from Capital One?

Agreed. I waited a year after being discharged from Chapter 7 and was approved immediately upon app'ing for a secured Cap 1 Platinum. Make a plan for rebuilding your credit over time, stick to it and read everything in this subforum and Rebuilding Your Credit that's relevant to your situation. I'm now 28 months out from having been discharged and have three unsecured cards (including a big score last month with Discover It) plus the aforementioned secured plus a used-car loan from Penfed, and am now in a gardening phase preparatory to trying for a couple more cards in the fall. Good luck!

Ch 7 BK discharged 12/14, well along in rebuilding credit. FICO 12/1/17:TU 663/EX 697/EQ 688 FICO 8 (Aug 2017) or 680 FICO 9 (Penfed Sep 2017), VS 3.0 12/1/17: TU 699/EX 687/EQ 693. $33.2K revolving credit as of 11/7/17; $951 Cap One secured Platinum MC, $2000 Apple FCU Platinum Visa, $3500 Amazon Prime Store Card, $3500 Walmart Store Card, $3500 Cap One Quicksilver MC, $4000 Care Credit, $4300 Overstock Store Card, $4500 Discover It, $7000 Penfed Power Cash Rewards Visa, $10k PenFed used car loan, $5k Navient student loan. In the garden again from 10/26/17 for at least the next 3 months unless I get a really really good preapproval.
Message 3 of 3