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Established Member
Posts: 22
Registered: ‎04-07-2009
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Capitol One - Excellent Credit?

My BK should be dropping of shortly, filed 9/02. I looked on Cap 1 website for a rewards card, and their definition of "excellent credit" was "never" filed bankruptcy, as well as as a few other items. Would they still be able to see that you filed even after it is off your credit report? I thought after it drops off, I will have no public records. So, I can't answer "never", but it shouldn't show up anymore either. I don't want unnecessary inquiries to apply and be denied. Anyone apply for a card after BK is off your report?

Regular Contributor
Posts: 205
Registered: ‎08-29-2007
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Re: Capitol One - Excellent Credit?

My wife received a Capital One Cash Rewards card last month and we were discharged in April 2012. They have a preapproval that will tell you if you qualify without affecting your score.


Starting Score: TU 477 EQ 533 BK 1/27/2012
Current Score: EX 702 TU 681 EQ 652 1/10/2014
Goal Score: 700


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Established Member
Posts: 26
Registered: ‎07-16-2012
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Re: Capitol One - Excellent Credit?

I think after the ten years and it has fallen off the report you qualify for the excellent credit rating, you paid your dues so to speak. Its a question of semantics, Since my marriage was annulled I have no problem saying never be married or single when asked. Done your ten years . Just my thoughts. Ask yourself what you feel comfortable with. Or for a straight up honest opinion email or tweet Suzy Orman, she'll tell it straight up. Smiley Wink

Established Member
Posts: 22
Registered: ‎04-07-2009
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Re: Capitol One - Excellent Credit?

Thank you, Comet21 and Polarbeardad, for your responses. I tried (and tried) getting a straight answer from Capitol One, but got no where. I woke up to very good news that my BK was dropped - my credit report shows no public record anymore. Anxious to see what my FICO score will be now. I guess I will wait a bit, and apply in a month or two. I just don't want to waste getting an inquiry only to have it denied. I'm hoping to attempt refinancing my house soon now and hopefully will get a better rate. I sort of feel like I just got part of my life back.

Valued Contributor
Posts: 2,505
Registered: ‎11-11-2010
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Re: Capitol One - Excellent Credit?

You also need to check your Innovis report. Capital One pulls 4 report actually, Innovis plus the other major 3.

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Established Member
Posts: 26
Registered: ‎07-16-2012
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Re: Capitol One - Excellent Credit?

Congrats on your bankruptcy falling off!!!! That's great news only 8 years and 6 years to go for me.  I hate how these places never give you a straight answer, its like they intentionally want you to apply so they can reject you while hitting your report with an inquiry.  I filed on my cap one card and just got approved for a new one so you should be good to go in a few months if you choose to wait. Good luck and keep us posted, always good to hear a success story. 

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Established Member
Posts: 22
Registered: ‎04-07-2009
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Re: Capitol One - Excellent Credit?

I've never heard of Innovis - I'll have to look that up. Thanks.

 

Tried again today to talk to someone, but they just don't get it. I feel the same way, Polarbeardad, it's like they just want you to apply, and let the chips fall where they may. I'm trying to be responsible and not have inquires... I'll wait a couple of months, I think. I just figured out that Cap 1 now is part of HSBC. I have a card from them, so that raises another question..... Will they not approve you if you have too many cards with them (Cap 1 and HSBC)? Your credit could be great, but if you already have a couple of cards, they probably don't want to extend themselves even more.

 

I can't say enough how wonderful it feels to have the BK off my credit report.. finally. It's been a long time coming. It's made me realize that I have sort of put my life on hold because of it. I originally filed because of a failed business and eventual divorce. I was too embarrased and ashamed to put myself out there and have to tell someone that. I have worked my tail off getting to where I am now, and it feels like a weight has been lifted. I just want to encourage everyone out there, your happy day will come too!

Established Contributor
Posts: 775
Registered: ‎08-13-2011
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Re: Capitol One - Excellent Credit?

Congratulations , I haven't filed BK but just paid off 2 tax liens the other day, it felt great, and I now know that I am moving forward in my credit endeavor, Best wishes in your future!!!!!!!!!!!!!!





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Established Member
Posts: 22
Registered: ‎04-07-2009
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Re: Capitol One - Excellent Credit?

WTH, I just got my first score watch alert since my BK dropped and my score went down to 585. It was mid 600. How is that possible? I have two 30 day payments from 2010 and that's it. Nothing else ever late, 1 inquiry in the last six months, etc. I thought for sure it would go up. It has climbed a little each month before the BK dropped. What gives?

Established Contributor
Posts: 759
Registered: ‎10-04-2010
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Re: Capitol One - Excellent Credit?

You were likely rebucketed. Essentially once your BK drops, you are now being compared to people without BKs instead of being in the same bucket with individuals with BK.

 

Capital One will not approve you for the excellent credit card with a 600 score. I will not waste an inquiry. You can try the average credit one.

BK in 2008, after making very stupid financial. decisions.

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