Discharged a week ago! So now I have some questions, of course.

[Anonymous]

My Chapter 7 was discharged a week ago.  

A few days later I did the CapitalOne prequal thing and was approved for a Platnium for $3,000.  I also applied for the next one they said I might be interested in right after.  I thought it was the QS, but I could be wrong.  I do remember it said there was the $39 annual fee though.  It said I was approved and I'd be receiving more information in the mail.  It's only been like 3 business days, so of course I haven't gotten anything in the mail yet.  Do they ever convert a QS approval to another Platnium?  

If I sign into my old Capital One 360 (formerly ING) site, it shows two platninum cards with 3,000 limits.  If i click on either of them it takes me to the C1 credit card site and once I sign in, it only shows me the info on one card.  Maybe they just haven't generated the other though?  Just wondering if anyone had this happen to them.

Also, included in my Chap 7 was my Capital One 360 overdraft (a former ING account) for $1,000.  It does not appear to report anywhere and they still show me owing it.  I emailed them a couple months back saying it was part of a bankruptcy and they gave me a phone number to call.  I hadn't yet.  Should I just let sleeping dogs lie as far as it's concerned?  I removed all the money I had in the attached savings/checking account once I filed.  I'm afraid if I call they will then close out the new credit card(s) I just was aproved for.  Or maybe they wouldn't because their retail banking (checking/savings) is a different division than their credit division?  My inclination is to leave it alone and if I hear from them or see it show up on a report, to then show it was IIB and discharged and maybe the good payment history on the cards would make them keep them open.

Also, it appears an old Dell Financial account survived.  It hadn't been used in a long time and had a $0 balance.  I can sign into it on the Dell site even.  Should I attempt to use it in the near future to give me my hopefully 3 revolving accounts (assuming the 2nd C1 card comes through)?

I reaffirmed my mortgages and my car lease.  Those 3 were never late and have been reporting all along, though they still say IIB.  I figure I'll give them a month or so to update and hopefully that part comes off, if it even matters.  My lease ends in a couple of months and ideally I'd like to lease another vehicle or even finance this one for a short time until my credit is good enough for another lease.  I've heard Toyota will extend leases by 6 months, so that is my first choice right now because I figure in 6 months I might be good enough to qualify for another lease.  Not sure what qualifications they go on to extend though.  Hopefully my perfect 3 year history with them will let them let me ride for another 6 months.  My scores as of today are EQ-584, EX-597, and TU-632

Thank you everyone for all your posts.  I've learned a lot here and hopefully will never be in this position again.  

[Anonymous]

Congrats! You are well on your way. From what you have described, the 2nd card is a QuickSilverOne card. It will show as Platinum in the description, but will get you the 1.5% cash back. I have had a CapOne360 account throughout my BK. I didn't have any overdraft issues, so I didn't burn the overdraft line, but the accounts continue to be my primary checking/savings.

You can try to use the Dell account. See if it let's you purchase anything. If so, you have your 3 and are set to go.

Good luck with your rebuild!

[Creditwiser]

Congrats on your fresh start.  It does seem you have the QS1 for one of the Cap 1 accounts.  After 3 statements cut, request they waive the AF via their online chat. If approved, that would convert the card to a regular QS.  They waived it for me 3 months in for one account and at the 9 month point for my other.  Cap 1 likes to see heavy use on the credit thay extended to you. Take care of these account and as experience shows, they will take care of you.  Good luck. 

[Anonymous]

Thank you!  They must just not have issued the 2nd card yet and that's why it shows one place, but not on the credit card site.  I did the app on my phone and I do remember it disclosing the annual fee, so I do hope #2 is a QS.  

I did get an email that the first one was mailed out.  I'm very surprised at the limits they gave being fresh out of BK.  My credit file is full of paid in full car loans and has a long mortgage history with perfect payments, so maybe that is what helped me.  I also have a large student loan that is on IBR with $0 payments, but it reports every month too.  I'm hoping I can get my scores well above 600 in the next few months.  

I do need a new Windows laptop so I will keep my eyes out for Dell deals or in their outlet and use that card and pay it right off and then use my new Cap1 cards for monthly bills I can autopay and pay them in full.  

[Creditwiser]

Make sure all discharged TL's are reporting IIB. Once your Cap 1 account start reporting you should see a good boost in scores.  Have you read the BK TO 700 thread yet ?  Going forward you'll want to limit the INQ's as much as possible.

[bartoe]

When I filed for BK, my Dell Card, Lane BRyant, Kohl's and New York & Company never shut down the cards!  I was shocked and they are still open and I use them!  I think that is what also helped my scores not take so much of a hit as well from me keeping my home and my vehicle!

[Anonymous]

I read the first handful of pages of it and near the end as well.  Now that I can rebuild I need to go back and check out what it says about utilization and using that to get scores up.  Now that I will have something to utilize!  Everything appears to be reporting IIB.  I just pulled my 3 bureau from CCT today.  I'm hoping the reaffirmed debts drop the IIB note when they report the first payments made after the discharge (have been paying all along).  

[Pway]

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@Anonymous wrote:

I read the first handful of pages of it and near the end as well.  Now that I can rebuild I need to go back and check out what it says about utilization and using that to get scores up.  Now that I will have something to utilize!  Everything appears to be reporting IIB.  I just pulled my 3 bureau from CCT today.  I'm hoping the reaffirmed debts drop the IIB note when they report the first payments made after the discharge (have been paying all along).  

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IIRC, once the debt has been reaffirmed they do not continue to report unless there is a stipulation in the reaffirmation agreement that they will. Someone please tell me if I am wrong on this one but I believe this is true.  Normally, debts that have been reaffirmed does not report after the bk proceedings are completed.  

[Anonymous]

I thought it was the other way, that if you don't reaffirm they will not update and report payments but if you do, they are more likely to.  I guess I will see in a month or two how they are showing.  My mortgages are with PenFed and my lease is with Toyota.  

I got my first C1 Platnium in the mail today and earlier got an email that my other C1 card is being mailed.  On the C1360 page where both accounts show, under that one is stays Capital One Rewards, so it does look like a QS card.  I also used my old Dell account to order a $216 laptop and it went through.  The CL on it is $2k.  It had been so long since I used that account it was probably in danger of being closed for inactivity.  The last time I bought a Dell was about 2009, I believe.  I can easily PIF right away.  

So I guess I have my 3 revolving cards to take care of and garden and between the two C1 cards, more than enough credit lines for my needs.  My main goal now is to get my scores high enough for another car loan/lease.  I have no plans to move or need to refi my mortgages so I am fortunate to be set there.