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I had a C1 card that was closed by grantor about 8 months ago due to a couple bounced payments due to a bank account I closed.
Since then — I've been making monthly payments to pay off the balance and just got pre-approved for a new PLATINUM card.
My question is — what are the chances I'll actually be approved for this card given I still have a balance with the original? I want to avoid unnecessary inquiries if I can, so should I wait until the balance is paid off to reapply?
Thank you!
Believe it is a year.. Least if you burnt Cap1 it is a year so possibly same if closed by credit grantor? Others might be more educated with regards to Cap 1 and them closing card policy
CapOne is 12 months before they would consider approval.
OK got it _ is that 12 months from closure or payoff date?
It looks like the account was closed in July/August 2019 so it has been about a year.
Could that be why it pre-approved me, because that time has lapsed?
& regardless of the time, do you think I'd get approved if I still have a balance on the old/closed card?
Yes and possibly. I personally would not apply if you still owe them on the closed card
So I was in a similar situation early last year with Cap1; I had an acct to close with a balance due. I paid off that balance in March of '19 and was approved for another card in. July of '19. Now the card was a crappy SL, but beggars can't be choosy and since then, my profile has grown exponentially. My advice is, if you're getting a pre approval from them, you'll likely be approved and bucketed. Count up the personal costs and go from there!