Capital One APPROVAL After Charge Off

bargerms · ‎03-27-2013

I really wanted a Capital One Secured Card and thought it would be impossible because of my paid charge off with them two years ago. I decided to take the chance and apply for it anyways. I found out news today that I was approved for the card although I do need a $49 security deposit. I am so happy!

Deltadog03 · ‎03-27-2013

Congrats!!!

EQ8: 646 EQ5: 652 V3.0: 665 **8/2015
TU8: 635 TU4: 700 V3.0 :663 **8/2015
EX8: 636 EX3: 670 V3.0: ? **8/2015
CCD Util 35%

RobertEG · ‎03-27-2013

Congrats!

A charge-off is their reporting of the fact that at that point in time, they considered the debt to have become "uncollectible," meaning they presumed that you were not going to pay, period. That permiitted them to write off the debt against income, and reduce their taxes.

By paying the debt, you effectively showed them that their prior presumption was incorrect. You made good on the debt.

That is almost assuredly what carried the day in their decision to do future business with you.

Epcot · ‎03-27-2013

Nice, Congrats on the approval!

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 849 EX 835 TU 841

Henchman21 · ‎03-27-2013

They're so forgiving. To err is human, after all. Congrats!

2/16/13 Scores EX: 594, TU:513, EQ:563 -- Cap One Secured: $200, Kay's: $400

GOAL #1: 625 -- CHECK!

3/31/15 Scores TU: 621 -- Cap One Secured: $750, Kay's: $900, CareCredit: $1000, Aerie $350, Fingerhut $1350

Goal #2: A travel card. REC ME!

Shogun · ‎03-27-2013

Very nice,, Garden well!

Starting Score: 504
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.