Capital One Charge Off ----> New Capital One?

[JamesKnox]

@legacys7

Well obviously it's bad practice, that's why the account got charged off and I am trying to rectify the issue now. I am sure ANYONE who is on myFICO talking about paying off a charged off credit card would be fully aware that it's "bad practice" to operate financially the way that they have been operating. 

[legacys7]

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@guiness56 wrote:

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@legacys7 wrote:

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@guiness56 wrote:

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@JamesKnox wrote:

Hey Family,

This may be a silly questions but I am curious. 

I currently have a Cap One Secured Card that has been charged off. Balance is $355.

Would Cap One deny me if I were to apply for another secured card through their website right now? 

The only reason I am not just assuming it's a flat out NO, is because Capital One sold the account to the collection agency...so I wonder if I apply would their system show that I had an account previously OR would it not since the account is sold. 

Thoughts?

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I had a CO with them 9 years ago.  Paid.  To this day I cannot get anything from them, not even a secured.

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It's probably for the best anyway. Capital One is evil as far as I'm concerned. They send me a ish ton of mail, trying to get me to apply for a card. So a few months ago, I decided to do it. They wanted a copy of my w2 form after they got the application. If you want a copy of my w2 form, ask for that stuff in advance. They act like they're doing you a favor, but in actuality, you're doing them one when they beg you to open up an account. I told them to stop sending my mail. They still do on and off. Applied for Chase's top of the line credit cards and got approved with no problem. 

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I don't really want or need a card from them.  It is more of doing it to see what happens. 

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I see. My post was more related to their business practice.

[legacys7]

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@JamesKnox wrote:

@legacys7

Well obviously it's bad practice, that's why the account got charged off and I am trying to rectify the issue now. I am sure ANYONE who is on myFICO talking about paying off a charged off credit card would be fully aware that it's "bad practice" to operate financially the way that they have been operating. 

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Yeah. I'd mentioned it because you were trying to get another card with them and pointed out the forgetting part. My point was more focused on that. While BOA has that credit card  that is part of your regular bank account, it's still good to keep tabs on it on your own is my point. I too have that feature in my BOA account. BUT, somewhere down the line you might want to get another card with another company where that feature is not available where you're reminded. That's why I'd mentioned the autopay to you and email/text reminders because missing just one payment can have an effect on your score. Missing several due to forgetting can really hurt your score. If it were me, I'd take a pass on getting another secured card with them by taking a hiatus. Even after you pay off the debt,  try later down the line with them. You have to keep in mind, that they might not want to get burned again from their perspective. Trust has to be taken into consideration.  

Build your credit up with BOA and others and then come back to them. The next time, you might not need a secured card with them. Example. A few months ago I couldn't get a Chase lowest end card. Due to score and two late payments a few years ago. But with both my excellent on time payments with my existing accounts over a 4 to 10 year period and keeping my accounts down to a low, I was not only able to get the Chase basic card, I was able to get both their top end cards. Credit increases came without me requesting them and those negative late payments and collection are having a less effect on my report due to those factors and time going by. BUT, the reality is, they're still there and until they go, it has an effect on my report. Especially if I need something with low interest. Anyways, I don't go crazy with my cards. I use them wisely. 

[twall06]

I was approved for a cap 1 plat while still paying off a judgement they got against me . But it had been several years since the CO.

[Anonymous]

I was approved for a secured Cap One in April 2014. I have an unpaid CO with them from Feb 2012.

[Anonymous]

Read me.