Capital One being very BK friendly

[Anonymous]

Itsmercy Did you do the pre-qual on there website or just apply and got approved?

[Anonymous]

@luv2cruise I did the pre qual on their site. I was denied for CO premiere but approved for 2 Quicksilvers..

[Anonymous]

Just wondering whats the earliest anyone has been approved for a Venture card after discharge.  I was discharged in January 2015.  I got a credit one card immediately after discharge and kept trying to get a prequal offer from Capital one but never received one.  I finally just decided to go for it and received the Platinum and QS1 both with a $3000 limit.  After 3 month I hit the luv button and was approved for an additional $8000 on the QS1 bringing the limit to $11000.  I am in my 4th month of having my cap one cards and am interested in the Venture card. My scores are Experian 723, Transunion 720 and Equifax 676.  Should I wait to apply or just try.

[Fletcher2]

I received a Venture card precisely 6 months after discharge ($30K limit). 

I first applied for a Cap1 Platinum after receiving a so-called 'pre-approval' mailing the same week of my discharge (approved for $3K); I then waited until I got my 6-month CLI on the platinum, then applied for the QS card...was approved, so I immediately fired at the Venture and was approved.  I felt so good that I applied to refinance my truck that was supposed to be reaffirmed (but wasn't), and I was approved for that, too!  

The two cards were awarded with only 1 hard pull, but they did pull again on the car loan.

I'm now sitting for a year and waiting for some previous credit pulls to fall off my report before my next round of apps.

[morgacj2004]

First card at 1 yr post BK. Now almost 3yrs post BK I have 4 cards with almost 50k TCL. Was only pre-approved for one of these cards.

[Anonymous]

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@Fletcher2 wrote:

I received a Venture card precisely 6 months after discharge ($30K limit). 

I first applied for a Cap1 Platinum after receiving a so-called 'pre-approval' mailing the same week of my discharge (approved for $3K); I then waited until I got my 6-month CLI on the platinum, then applied for the QS card...was approved, so I immediately fired at the Venture and was approved.  I felt so good that I applied to refinance my truck that was supposed to be reaffirmed (but wasn't), and I was approved for that, too!  

The two cards were awarded with only 1 hard pull, but they did pull again on the car loan.

I'm now sitting for a year and waiting for some previous credit pulls to fall off my report before my next round of apps.

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Longshaft who did you get to refi your vehicle and were you upside down any? I'm looking to refi but upside down they are saying

[Fletcher2]

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@Anonymous wrote:

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Longshaft who did you get to refi your vehicle and were you upside down any? I'm looking to refi but upside down they are saying

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I used CapitalOne Auto Finance, but I wasn't upside down, either...had about $5-$7k in equity, so it was a pretty safe bet on their part.

[bstone]

You need to ask what value they are looking at to determine you are upside down, and if you have the cash difference apply that to the balance.

I traded in my used car which I was upside down in and bought a brand new car that had a $6000 discount (left over 2014), and that covered my negative equity. This allowed me to get a new car which I actually wanted and a much lower interest rate.

This really only works with new cars that have high rebates (mostly American cars) and only ifor you've reestablished after your discharge, which you haven't since you've only been discharged for a month or so. You really need to give it six months or so.

[Anonymous]

Yeah 6months or longer is probably better before trying to refi, I don't want to be stuck at this payment and high interest for as long as I have to pay for it.

[HopeMission]

Its been the energy and optimism of Divaofsongs and others like her that has caused me to spring up out of my garden and help Cap1 help me. Lol.

In summary- I filed BK 11-14 and was discharged 4-15. So today I am 6 months out of DC. When filing my pro BK (pro se) I conveniently forgot 2 CC’s that had no balance and continue to be in good standing today helping my credit history.

Since DC the only product I have picked up was a 1K un-Secured Share Loan to get that credit mix. These are all listed in my signature below.

I have never had any Cap1 cards—however I did apply for one about 3 months before I filed BK. I was denied because of debt at that time. About 3 weeks after DC I have been getting Pre Quals (w Reservation and Access Codes) about every week UNTIL about a month ago. (Plat. MC)

Based on all these GREAT stories, my goal is to apply for at least 2 cards with the highest CL as possible. I don’t need any rewards, miles and don’t even mind a high APR or AF. I just want to use these cards as much as possible and pay them down to about 5 percent every mo.

My question is how should I go about applying?  Should I peruse one of the expired pre-quals to keep from getting 3 more hard hits? Can I just call and tell them my goals?  The only balance I have is on my 3K Fry's store card of about $425.  Should I be paying that down to about 30 bucks before applying?  Does it matter?

A lit nervous, anxious, hopeful and exited. Thank you all for your help!