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New to the forums. Trying to re establish after bankruptcy

Established Contributor

Re: New to the forums. Trying to re establish after bankruptcy


ohnikki39 wrote:

Hello Shooting for 800

 

You are doing Fantastic 4 years out from bk. Did you include any of the companies you have now in your prior bankruptcy and they gave you another chance? I am praying that Capitalone lets me back in their good graces.


Actually, I burned Cap One but I had about 5 different accounts with them before that I had closed out with $0 balances over the years.

 

I never did any credit builder loans, secured cards, credit one or predeator cards.  

 

After my credit report was up to date, I apply for Cap One and got $3k unsecured, then another $3k then both went to $3.5k then $12.5k then a new $10k card, etc.

 

Cap One gave me a prequal car loan for 2.49% for 72 months with no money down on a brand new car (this varies based on how good the deal is - mine was a really good deal.)  This was AFTER I got declined for ANY car loan with $10,000 down at my local credit union.  Cap One did not even make me submit any paystubs.

 

Cap One just gave me my newest and best card - $30k at 13.99%

 

Like I said, they treat me great.  A lot of people complain about them, but they are comparing apples to oranges.

 

I make large payments WEEKLY.  I wait for my statement to be cut and pay 5-10 times my minimum the next day.  Then another chunk next week, etc.

 

Whatever it takes to not pay a penny of interest, I will do.

 

I could not ask for more from them with perfect credit let alone shakey credit.

 

Keep in mind, that I have not been a day late on any bill for any reason since my BK and I spent over $80k on my Cap One cards last year, so YMMV.

 

BUT - The fact is - it is possible to get real credit from a real company that does not rip you off.

 

I have no embarrasement slapping down my metal venture signature visa card at the store or restaurant.

 

 

 

 

 

credit rebuild started 01/01/14
$100k credit card goal achieved 10/01/17
now in the garden with $127k in credit cards
--------------------------------------------------------------------------------------------------
  $ 30,000          $ 25,500          $ 23,750              $ 9,000            $ 3,300            $ 1,800     

 
  $ 17,000          $ 10,000              $ 4,000            $ 2,300     
Message 11 of 18
Community Leader
Super Contributor

Re: New to the forums. Trying to re establish after bankruptcy


Shooting-For-800 wrote:

ohnikki39 wrote:

Hello Shooting for 800

 

You are doing Fantastic 4 years out from bk. Did you include any of the companies you have now in your prior bankruptcy and they gave you another chance? I am praying that Capitalone lets me back in their good graces.


Actually, I burned Cap One but I had about 5 different accounts with them before that I had closed out with $0 balances over the years.

 

I never did any credit builder loans, secured cards, credit one or predeator cards.  

 

After my credit report was up to date, I apply for Cap One and got $3k unsecured, then another $3k then both went to $3.5k then $12.5k then a new $10k card, etc.

 

Cap One gave me a prequal car loan for 2.49% for 72 months with no money down on a brand new car (this varies based on how good the deal is - mine was a really good deal.)  This was AFTER I got declined for ANY car loan with $10,000 down at my local credit union.  Cap One did not even make me submit any paystubs.

 

Cap One just gave me my newest and best card - $30k at 13.99%

 

Like I said, they treat me great.  A lot of people complain about them, but they are comparing apples to oranges.

 

I make large payments WEEKLY.  I wait for my statement to be cut and pay 5-10 times my minimum the next day.  Then another chunk next week, etc.

 

Whatever it takes to not pay a penny of interest, I will do.

 

I could not ask for more from them with perfect credit let alone shakey credit.

 

Keep in mind, that I have not been a day late on any bill for any reason since my BK and I spent over $80k on my Cap One cards last year, so YMMV.

 

BUT - The fact is - it is possible to get real credit from a real company that does not rip you off.

 

I have no embarrasement slapping down my metal venture signature visa card at the store or restaurant.

 

 

 

 

 


How long after the BK discharge did they approve you? They generally auto decline for 12 months after Cap One account is charged off, but some people seem to fall through the cracks. Were you current with them when you filed? Also, how long was it before you got the low interest auto loan and what were your scores at the time?

Most Recent FICO 8 Scores EX601/TU580/EQ589 12/08/2017 Starting scores 553/485/543 08/25//2017
~~~Credit lines~~~~
SDFCU VISA Secured $250
Discover Secured $200
Message 12 of 18
Established Contributor

Re: New to the forums. Trying to re establish after bankruptcy


NormanFH wrote:

Shooting-For-800 wrote:

ohnikki39 wrote:

Hello Shooting for 800

 

You are doing Fantastic 4 years out from bk. Did you include any of the companies you have now in your prior bankruptcy and they gave you another chance? I am praying that Capitalone lets me back in their good graces.


Actually, I burned Cap One but I had about 5 different accounts with them before that I had closed out with $0 balances over the years.

 

I never did any credit builder loans, secured cards, credit one or predeator cards.  

 

After my credit report was up to date, I apply for Cap One and got $3k unsecured, then another $3k then both went to $3.5k then $12.5k then a new $10k card, etc.

 

Cap One gave me a prequal car loan for 2.49% for 72 months with no money down on a brand new car (this varies based on how good the deal is - mine was a really good deal.)  This was AFTER I got declined for ANY car loan with $10,000 down at my local credit union.  Cap One did not even make me submit any paystubs.

 

Cap One just gave me my newest and best card - $30k at 13.99%

 

Like I said, they treat me great.  A lot of people complain about them, but they are comparing apples to oranges.

 

I make large payments WEEKLY.  I wait for my statement to be cut and pay 5-10 times my minimum the next day.  Then another chunk next week, etc.

 

Whatever it takes to not pay a penny of interest, I will do.

 

I could not ask for more from them with perfect credit let alone shakey credit.

 

Keep in mind, that I have not been a day late on any bill for any reason since my BK and I spent over $80k on my Cap One cards last year, so YMMV.

 

BUT - The fact is - it is possible to get real credit from a real company that does not rip you off.

 

I have no embarrasement slapping down my metal venture signature visa card at the store or restaurant.

 

 

 

 

 


How long after the BK discharge did they approve you? They generally auto decline for 12 months after Cap One account is charged off, but some people seem to fall through the cracks. Were you current with them when you filed? Also, how long was it before you got the low interest auto loan and what were your scores at the time?


Got approved for $3k within 60 days of discharge.

 

I was not current when BK filed, actually two years behind.  I tried to do everything I could for years to not file before I finally had to file.

 

Got approved for second $3k within a few months of first one.

 

Within the first 2 years, I had 5 Cap One cards.  Closed the ones that would not grow.  Once my credit got much better, I opened up a QS for $10k, then another, then combined some cards, etc.

 

Auto loan was 2.5 years after BK and my score was about 675 by that time.  I should also disclose that I had put $200k through my Cap One cards by that time.

 

It was for my wife who gets a car allowance from her job.  I drive a 10 year old car still.

 

 

 

 

credit rebuild started 01/01/14
$100k credit card goal achieved 10/01/17
now in the garden with $127k in credit cards
--------------------------------------------------------------------------------------------------
  $ 30,000          $ 25,500          $ 23,750              $ 9,000            $ 3,300            $ 1,800     

 
  $ 17,000          $ 10,000              $ 4,000            $ 2,300     
Message 13 of 18
Established Member

Re: New to the forums. Trying to re establish after bankruptcy

Your recovery is amazing. I discharged in July and Capital One still wont touch me but looking at your post gives me hope. Thanks for the info!

Message 14 of 18
Established Contributor

Re: New to the forums. Trying to re establish after bankruptcy


ohnikki39 wrote:

Your recovery is amazing. I discharged in July and Capital One still wont touch me but looking at your post gives me hope. Thanks for the info!


Thanks.  I think 6 months is the magic timeline for many.  Hang in there.

credit rebuild started 01/01/14
$100k credit card goal achieved 10/01/17
now in the garden with $127k in credit cards
--------------------------------------------------------------------------------------------------
  $ 30,000          $ 25,500          $ 23,750              $ 9,000            $ 3,300            $ 1,800     

 
  $ 17,000          $ 10,000              $ 4,000            $ 2,300     
Message 15 of 18
Community Leader
Super Contributor

Re: New to the forums. Trying to re establish after bankruptcy


Shooting-For-800 wrote:

NormanFH wrote:

Shooting-For-800 wrote:

ohnikki39 wrote:

Hello Shooting for 800

 

You are doing Fantastic 4 years out from bk. Did you include any of the companies you have now in your prior bankruptcy and they gave you another chance? I am praying that Capitalone lets me back in their good graces.


Actually, I burned Cap One but I had about 5 different accounts with them before that I had closed out with $0 balances over the years.

 

I never did any credit builder loans, secured cards, credit one or predeator cards.  

 

After my credit report was up to date, I apply for Cap One and got $3k unsecured, then another $3k then both went to $3.5k then $12.5k then a new $10k card, etc.

 

Cap One gave me a prequal car loan for 2.49% for 72 months with no money down on a brand new car (this varies based on how good the deal is - mine was a really good deal.)  This was AFTER I got declined for ANY car loan with $10,000 down at my local credit union.  Cap One did not even make me submit any paystubs.

 

Cap One just gave me my newest and best card - $30k at 13.99%

 

Like I said, they treat me great.  A lot of people complain about them, but they are comparing apples to oranges.

 

I make large payments WEEKLY.  I wait for my statement to be cut and pay 5-10 times my minimum the next day.  Then another chunk next week, etc.

 

Whatever it takes to not pay a penny of interest, I will do.

 

I could not ask for more from them with perfect credit let alone shakey credit.

 

Keep in mind, that I have not been a day late on any bill for any reason since my BK and I spent over $80k on my Cap One cards last year, so YMMV.

 

BUT - The fact is - it is possible to get real credit from a real company that does not rip you off.

 

I have no embarrasement slapping down my metal venture signature visa card at the store or restaurant.

 

 

 

 

 


How long after the BK discharge did they approve you? They generally auto decline for 12 months after Cap One account is charged off, but some people seem to fall through the cracks. Were you current with them when you filed? Also, how long was it before you got the low interest auto loan and what were your scores at the time?


Got approved for $3k within 60 days of discharge.

 

I was not current when BK filed, actually two years behind.  I tried to do everything I could for years to not file before I finally had to file.

 

Got approved for second $3k within a few months of first one.

 

Within the first 2 years, I had 5 Cap One cards.  Closed the ones that would not grow.  Once my credit got much better, I opened up a QS for $10k, then another, then combined some cards, etc.

 

Auto loan was 2.5 years after BK and my score was about 675 by that time.  I should also disclose that I had put $200k through my Cap One cards by that time.

 

It was for my wife who gets a car allowance from her job.  I drive a 10 year old car still.

 

 

 

 


Ahh - so it would actually have been charged off long before the BK, so you were actually long past the 12 month blackout.

 

Thank you for the details... Helps me develop my recovery plan

Most Recent FICO 8 Scores EX601/TU580/EQ589 12/08/2017 Starting scores 553/485/543 08/25//2017
~~~Credit lines~~~~
SDFCU VISA Secured $250
Discover Secured $200
Message 16 of 18
Established Contributor

Re: New to the forums. Trying to re establish after bankruptcy

NP - But I know that there are others on this board than were not blacked out for a year.

 

Try calling them, maybe they will just tell you.

credit rebuild started 01/01/14
$100k credit card goal achieved 10/01/17
now in the garden with $127k in credit cards
--------------------------------------------------------------------------------------------------
  $ 30,000          $ 25,500          $ 23,750              $ 9,000            $ 3,300            $ 1,800     

 
  $ 17,000          $ 10,000              $ 4,000            $ 2,300     
Message 17 of 18
Highlighted
Community Leader
Super Contributor

Re: New to the forums. Trying to re establish after bankruptcy


Shooting-For-800 wrote:

NP - But I know that there are others on this board than were not blacked out for a year.

 

Try calling them, maybe they will just tell you.


I tried apping for their secured coard - got auto-denied with no credit report pull for having a previously unpaid delinquent Cap One account. I'll just wait until my BK anniversary hits and try then. Inn the meantime I have two secured cards and Ill have a share secured loan set up soon. 

Most Recent FICO 8 Scores EX601/TU580/EQ589 12/08/2017 Starting scores 553/485/543 08/25//2017
~~~Credit lines~~~~
SDFCU VISA Secured $250
Discover Secured $200
Message 18 of 18