Reply
Established Contributor
Credit-hoarder
Posts: 508
Registered: ‎08-30-2013
0

Capital One Reconciliation

[ Edited ]

Just remembered I received a letter several years (4 or 5) back about applying for a Visa card with my union (UFCW) BUT it's with Cap1 now-I don't think it was back then. For this reason, and a couple others I'm strongly considering at some point-not necessarily now-getting back in good with Cap1. I had 3 cards with them YEARS ago when they first started and managed to screw all 3 of them up and they ended up in public collections. The last was paid off in 2009. I'm thinking of apping for a platinum card (where I left off with them)-even though I know it will be denied and possibly have to do a recon. I know this b/c I used their card finder feature and didn't get any pre-qual offers. But I want to ask here first: 1. If I go for it should I apply for secured or unsecured? 2.Do they DEFINITELY do a triple pull when apping? 3. What are my chances of being accepted?  I have a checking acct with them also (since they took over Chevy Chase bank a few years back) and have messed up on it quite a few times-but it's still oopen and currently in good standing. My Fico scores are EX-645  TU-704 EQ-690 and I just opened 7 new accts. within the last month: Sears, Best Buy, Wal-Mart, Pay Pal SC, Discover IT, BP/Chase gas card, and a Visa with my CU.

Senior Contributor
youngandcreditwrthy
Posts: 6,204
Registered: ‎08-16-2012
0

Re: Capital One Reconciliation

I wouldn't do it...
If you're approved, you'll most likely get a lower limit- it won't be a progression in your credir building... But that's my op.
My first card was C1 and after 7 years, I still have it. Lol
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Mega Contributor
Creditaddict
Posts: 19,675
Registered: ‎10-23-2007
0

Re: Capital One Reconciliation

Based on your 7 new accounts doesn't seem like another small card with capital one would be worth it at all unless you can link it for overdraft on your checking or something.  Otherwise I would not apply for anything.

 

Fico Scores: EQ 657 Cabelas, TU 662 Wally, EX 669 Chase(08-31-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Express $300
Over 45 Cards in between :smileytongue:
Moderator
09Lexie
Posts: 25,097
Registered: ‎09-13-2012
0

Re: Capital One Reconciliation

Yes, they triple pull. Your chances of approval for a secured cc is probably good. For a low limit unsecured- 50/50%. Should you do it? IMO, CA hit it on the head-7 new accts in 1 month plus your chances of getting a low limit cc seems like a waste of 3 inq's.
Established Contributor
Credit-hoarder
Posts: 508
Registered: ‎08-30-2013
0

Re: Capital One Reconciliation

Yeah, 3 INQ'S is a BIG-BIG HIT to take for a possible denial or a low limit. But was also thinking since I had 3 public actions with them within the last 8 or so years, If lenders saw I was back in with them again-even with a low limit-it MIGHT take some of the sting out of the old collections. That could almost make it worth if it did (take the sting off). Those 3  old collections with them are the MAIN items on my reports holding me back credit-wise as of right now-so I've been told. Thanks for your opinions everyone.

Community Leader
Senior Contributor
myjourney
Posts: 25,597
Registered: ‎02-07-2013
0

Re: Capital One Reconciliation


Credit-hoarder wrote:

Yeah, 3 INQ'S is a BIG-BIG HIT to take for a possible denial or a low limit. But was also thinking since I had 3 public actions with them within the last 8 or so years, If lenders saw I was back in with them again-even with a low limit-it MIGHT take some of the sting out of the old collections. That could almost make it worth if it did (take the sting off). Those 3  old collections with them are the MAIN items on my reports holding me back credit-wise as of right now-so I've been told. Thanks for your opinions everyone.


IMHO if you garden for the next 9-12 months you won't need any secured cards. You have started a relationship with Discover and Chase which if you prove yourself with them to be responsible you will be in a better position for all lenders

"Intelligence plus character--that is the goal of true education"
Cap1 EO link below
http://lmgtfy.com/?q=Capital+One+CEO+email+address+#seen
Last 5 apps 6/6/13
Established Contributor
Credit-hoarder
Posts: 508
Registered: ‎08-30-2013
0

Re: Capital One Reconciliation

[ Edited ]

@myjourney: Yes I am VERY-EXTREMELY greatful to be in with Discover, Chase, AND Citi (with Sears and Best Buy store cards). Although it would have been great if I would have been accepted by AMEX a few days ago also. I guess it's too soon for that-LOL

Community Leader
Senior Contributor
myjourney
Posts: 25,597
Registered: ‎02-07-2013
0

Re: Capital One Reconciliation


Credit-hoarder wrote:

@myjourney: Yes I am VERY-EXTREMELY greatful to be in with Discover, Chase, AND Citi (with Sears and Best Buy store cards).


Sit on what you have now and I think you will be good to go:smileywink:

"Intelligence plus character--that is the goal of true education"
Cap1 EO link below
http://lmgtfy.com/?q=Capital+One+CEO+email+address+#seen
Last 5 apps 6/6/13

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+