Capital One being very BK friendly

[Scupra]

---

@HopeMission wrote:

Thank you Scupra-  Do the lost points from that HP come back eventually automatically? Or are you saying this is just the best time to do the HP’s and wait for good habits to raise the scores?

Thank you DaveinAZ I will definitely apply for another Cap1 card within the next 30 days. Probably in about 25 days after I can show a lil bit of activity and paying back. I am ONLY getting these cards to get my FICO’s back up. Rewards, miles etc don’t really interest me. I can’t decide between applying for the (pre-aproved) “Venture” or the (not approved yet) Spark card for my business. I noticed that Dave (With 700 Ficos) hasn’t been able to get a prequal on the Spark. Is it hard to get?

I think it just comes down to what card offers the greatest opportunity for CLI’s, raising scores and last but not least- getting qualified. Any thoughts for someone that is just being FICO minded?

Received another letter from Barclay today. I never applied.   I don’t think it’s a pre-qual. Just says “You’re preselected” and has a personal ID code. With a QS and possibly the pre-qualled Venture, would it be smart to wait on this Barclay offer?

Lasty-- anybody know how to add the “macros” of cards to put at the bottom of my signature. I can’t find the drop down menu of codes I can paste in my “macros”

Thank you for your help!

---

After about 6 months the inquiries hurt you less and then at 1 year they do not hurt you at all. At two years they drop off, so if you get some HP's now and garden for two years you wont have those inquiries anymore.

[DaveInAZ]

---

@hpotterfan77 wrote:

That (Discover Bank) $50.00 promotion ended 9/15/15.  They have a new promotion going on for their checking now.

---

- Thanks for pointing that out, I opened mine in early Sept, didn't know it had expired.

[HopeMission]

My QS has was approved and set up on Oct 1st. Based on the DaveinAZ info, I think I will put a bunch of activity and payments on the QS card over the next few days and on Oct 28th apply for that “Pre Selected” Barclay’s card.   Then on the 29th apply for that “Pre Qualified” Venture card so I am within their 30 day window of time that my HP is good for.

I clumsily asked Scupra, “Do the lost points from that HP come back eventually automatically? Or are you saying this is just the best time to do the HP’s and wait for good habits to raise the scores?”

I read Scupra’s answer and am still a little unclear, “After about 6 months the inquiries hurt you less and then at 1 year they do not hurt you at all. At two years they drop off, so if you get some HP's now and garden for two years you wont have those inquiries anymore.”

What I think I understand is that the lost HP points will come back eventually on their own automatically over time. In other words, the points coming back have nothing to do with good or bad credit behavior. They kind of trickle back into my scores little by little until they are eventually all back in about 12 months. Is this right?

Im looking forard to getting these products organized so I can head back to my garden to spend and pay wisely and have all 3 of these cards reporting good things to all 3 bureaus. 

[Scupra]

Your thinking is correct! You will probably take a hit in AAoA but that will automatically come back as well. You're over thinking it You're doing good and keep doing what you're doing!

[Shooting-For-800]

Capital One has treated me like a king since my BK and I will remain very loyal to them.

3k CL on first card around 1 month of BK

3k CL on second card around 3 months of BK

3k CL on third card around 5 months of BK

after 6 months both became 3.5k

1k CL on Sony card

10k Siggy around 10 months of BK

10k Siggy around 12months of BK

9k CLI on QS MC around 13 months of BK

10k Siggy around 14 months of BK

all three got CLI within a few months (+750, +3000, +3000)

Closed 3 of my first 4 open after BK due to CL ceilings.

Now - 18 months after BK - $50k CL total on 4 QuickSilver Cards (3 Siggy Visa, 1 MC.)

I know this is not the norm, but for me, I could not be happier.

For the record - I have a good income, Charge 4-8k per month, I pay all CCs every WEEK not Month, I do not carry any balances with the exception of small amounts once in a while on 0%.

[HopeMission]

  Was just denied CLI on my Quicksilver 6 month birthday.

Reason:  :: "Recent use of this account's existing credit line has been too low"

Whats strange is that I have over 20 different charges over the last 30 days prior to CLI request.

Total spend during that last 30 days might have only been around 400-500 but I still thought I would get it.

I dont need to get into all the other things they might have factored into not giving me the CLI because this was the only reason they replied with.

All other factors should have been good... Including heavy activity of my Cap 1 Spark card.

Quicksilver spend 600.of the 5K Limit

Spark spend 4K of the 10K limit

All I guess I can do is step up my 20 charges up to 40 charges and charge/pay back more over the next month then do a RECON.

I called Cap1 and the "yes man" guy just kind of seem to agree with my next corse of action.

What do you think?  My Sprak is about 2 weeks from reaching 6 month birthday... I think ill just keep doing the same and maybe paying it down to 25% UTL and try just like this QS.

Any thoughts would be GREATLY appreciated! 

[Divaofsongs]

I am very familiar with Cap One and their CLI's and yes, you need to spend more in terms of amount, not separate charges. They like to see larger amounts charged and paid off. For me, I would get that message and then the next month I would put through like $1,000 on a $5,000 limit and apply again for a CLI after the next statement cut and it would go through. I think you will get a CLI on your Spark card because of your usage. I started with $300 and $500 limit cards 3 years ago, right after my chapter 7 discharged and they are now $11.800 and $12,000 limits each. I also now have a $10,000 Venture card, which I applied for and was approved at 2 years post chapter 7 discharge.

If you are denied a CLI due to low usage, ramp it up the next month or two and reapply to get the CLI. You don't have to wait for another 6 months but you do have to wait for at least the next statement to cut.

Good luck. 

[6speed8]

I'll exclude the other two cards and just post Cap One.

Filed Ch 7 in February 2015. Took a shot on applying for cards in May, figuring my scores would drop anyway after discharge. They didn't lol. All unsecured.

May 2015 pre-discharge. Cap One Platinum - $500 with "Make your first 6 payments on time and we'll increase it to $750". Novenber 2015 increased to $2500

June 2015 post-discharge. Cap One Quick Silver - $750 with "Make your first 6 payments on time and we'll increase it to $1000". December 2015 increased to $3000.

Currently saving for a car. Took a chance on the Cap One pre-qual just to see where I stand, even though I don't plan on a car until later in the year when my down payment fund has some beef to it lol. Married but "my" income is solely $2100 monthly Disability. They approved me for $17,000 (not surprising considering "my" income. May do a joint or co-sign app with the hubby later in the year just to see if it makes a difference) ranging from 3% to 12% depending on new or used and down payment. Used the Navigator to calculate payments and rates. "Bottom" of my car list  my list is a 2016 Kia Forte5 SX. Hubby has a 2012 and it's been bulletproof. Local dealer has one loaded - nav,remote start,etc, stickered at $27,500 discounted to just under $23,000. If I had enough of a down-payment today, I could get it at 3,3%.  Amount wasn't surprising but the rate sure was.

[Anonymous]

I got approved for Cap One prior to discharge when I tried the pre-qual but I waited until discharge to actually apply. My hubby and I are in the credit steps with them and I use both my cards more then he does and I pay more then the minimum amount due each month. He got a higher starting limit then I did when we got them and I just got an increase on both my cards without asking but my hubby only got 1 increase which was smaller then mine. SO its kind of strange how they operate, I don't want maxed out cards and my scores keep going up even with me paying more then the minimum due each month. I have also gotten a few more cards not listed in my sig. Cap one told me that they will only increase every 6 months even if you try the love button so I don't bother, I just wait for them to do then I will ask. I finally got a Kay Jeweler card but haven't used it.

[HopeMission]

6Speed. Why does your husband have to drive a bullet proof car? Just kidding.- a lil humpday humor. 

I guess we are a two of a kind. For better or for worse..we each did the same thing-- Applied and got a few products before Ch 7. These products remain in good standing after discharge. The old argument against this is we didn’t discharge our good accounts along with all the bad accounts. No matter how legal or illegal… it ended working out and you have a longer history than those that had to wipe their entire history with discharge.

My only suggestion is before applying for the Kia… get some sort of secured loan to get the “Perfect Mix” of products. Yes, the car loan will give you that mix but it couldn’t hurt to get the mix before applying.

Only other suggestion is read what “DIVAOFSONGS” has written. She has some great thoughts based on some great experience through out this thread.