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@djnikki1 wrote:I burned Capital One for 2 cards for small amounts. I applied with them for the Platinum Card after my discharge and was denied because of high revolving balance. Which is odd since i do not have any, just student loans. Should I even chance doing a recon?
Go for it! report back.
@Anonymous wrote:
@djnikki1 wrote:I burned Capital One for 2 cards for small amounts. I applied with them for the Platinum Card after my discharge and was denied because of high revolving balance. Which is odd since i do not have any, just student loans. Should I even chance doing a recon?
Go for it! report back.
What is the best number to call for the Recon? When I called a number on the Recon list last week, they stated I would have to submit another application. Is that how the Recons work? I have never done one before.
Unfortinuately Capital One does not recon. I would say give it some more time. I burned them as well, give it some time. I have 3 cardswith them currently
That is why I will always keep my CO cards. They were loyal to me before and after my BK and I will always remember that. AX should take a page from CO playbook as in my opinion they are the exact opposite.!
Capital does recon...unfortunately, the phone number was changed due to the fact that MANY users called the recon/EO # for minimal/dumb issues that a CSR could have resolved.
You're only option is to email the EO email (IF that is still working) and wait for them to call you.
Good luck
By the way, i have 4 cards with them....well, had. I merged one already so have 3 left.
My bankruptcy discharged on 7/28/2015 I was at a loss trying to figure out how to go about re establishing credit. Thankfully I came across this forum after reading through the various post I was encouraged to apply for Capital One credit even after burning them for over $2,000 on my recent Bankruptcy. To my great surprise they approved me for not 1 but 2 Quicksilver Mastercards one with a credit limit of $1,000 and the other with a cl of $500 both relatively low but I'm grateful for the opportunity to re establish my credit. I plan to apply for a Barclays in 6 months hopefully I will have proven myself as a viable option for credit with them by then. My current credit scores according to Credit Karma are TU 674 and Equifax 679 I hope to bring them both up to 700 by this time next year!!!
That is great news itsmecrystair, I thought the same thing about CO when my chapter 7 discharged in Aug of 2013 but I was able to open 2 cards with them just a couple of weeks after discharge for about the same limits you have now. At 6 months I received an auto increase on both cords that was much higher than the "Credit Steps" letter indicated, and after that, I have been able to request and get approved for a CLI on both cards every 6 months, after the 6th statement cuts from my previous CLI, by using the "request credit limit increase" link under the more options tab. There was only the 1 auto CLI at 6 months, otherwise, I had to request subsequent increases and if I did it too early, it would always decline saying I had recently had an increase, until the 6th statement cut after the previous CLI, but once the 6th statement cut, each time I got approved for a sizeable increase. I also was approved for a 3rd card, the Venture card, with them at 18 months past BK (Feb 2015) and I almost fell out of my chair when it happened. I am ever amazed at CO and how wonderful they are when one proves themselves again. My 2 original cards are now $7500 and $8500, I plan to combine them as one next week for a nice $16K card, along with my $10K Venture card....not too shabby. LOL
I wanted to mention that I used both cards heavily the first 12 months, like I would charge 2-4 times my limit throughout the month and then pay several payments each month to keep from going over the limit. I never let more than 70% be charged to the card at one time during each month and I always paid them in full or to less than 15% of the total credit limit before the statement cut so the amount reoorting to my credit showed a very low balance, if at all. I used the 1st card more than the 2nd and the 1st card always had higher increases than the 2nd, leading me to believe that they do reward usage with increases, based on how much you use it. My first auto CLI was $1200 increase on one card and $2000 increase on the other. I was only expecting a $250 increase, so that was wonderful. The subsequent CLI's were several thousand dollars each time, bringing me to where I am now.
My sister and I had the same starting limits on both our cards, with a discharged BK, and almost identical scores, credit files, DTI, income, etc, but she has had only small increase on her cards. The only difference is, she was afraid to really use her cards much and decided to use them very little, only charging a tank of gas or dinner on each card every month and PIF's every month. She is also 2 years out from BK and all her CLI's have been in small, $250 increase increments. I told her from what I can see, they like heavy usage and told her to try my theory. After her last small CLI on both cards, she ramped up her usage on both cards to 1-2 times the CL each month and either PIF or left a small balance each month, just like I did. Last week she applied for her 3rd CLI on both cards and this time she was given a $2000 and a $3000 increase. So, I cannot prove it, but it would seem that heavy, responsible usage is the key to higher limits.
Just one more data point, my husband was also approved for his 2 cards at the same time I was, with about the same starting limits, same monthly usage/multiple payments, etc., and he has had almost identical increases on his cards, just like mine, and he also was approved for a $10K Venture card at 18 months past BK. He has a total of $31K in CL's on all 3 of his cards and I have a total of $26K on all 3 of mine. Our starting credit scores were in the high 500's/very low 600's, and his are now in the high 600's and mine are high 600's to very low 700's.
As far as Barclay's is concerned......I have NO idea how to get them to give me a CLI! I have tried everything and still remain at the $1300 starting limit from almost 2 years ago! My husband started at $1500 and has had 2 increases already, his is at $7800 and his Priceline card is at $5000. I tried for a Upromise card through Barclay's and got a measly $500 starting limit. I wanted to cry. I just had my 6th statement cut with Upromise and guess what???? NO INCREASE! :-( I am about to just give up with them.
Sorry for the long, long reply, but I thought some of this might help you in deciding how to go about getting higher increases on your cards over the next few years. :-) The best to you and I hope you have great success.
Thank you so much DivaofSongs,
Your data info helps me out tremendously. Now I have a game plan as to how to raise my CL in a reasonable time frame. I'll keep you updated on my progress!!
Diva, that is great information. I was hoping to get a Barclay's at some point, but I burned them in my BK and I'm blacklisted. Maybe after a year things will be different with them.