Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
Small indicators of success - preapproval from capital one

I recently paid off the remaining balance on a closed capital one and a discover card.  I still have a BofA card and a Chase card that were closed that I am paying down.  I will finally pay those off when my tax return arrives.  When those two are paid off, I'll be finished climbing out of a fairly deep hole.  At the worst of it, I was behind about $10K on my mortgage and had $35K in CC debt.  It's embarrassing just to type those totals.  It will feel incredible to have no more CC debt.

 

I checked Cap One's preapproval link today.  No interest in applying for one of their cards, but I check it every once in a while to see if anything pops up.  I normally get no prequal offers, but recommendations for one of their AF classic platinum cards.  I figured that even though my score had improved considerably, I was still not getting anything from them because of the old closed account that wasn't paid off yet.  Today, I received an offer for their Venture card with no AF.  There were also offers for two other no AF cards. 

 

I currently have two open cards.  An Amex PR Gold charge card and a Capital One platinum card with a $39 AF.  Once I pay off the closed BofA and Chase cards, and my reports update, depending on the score increase I see, I am considering the Amex SPG.  But my main goals right now are building emergency fund and saving for downpayment on a larger house.

 

Anyway, when I first started trying to climb out of this mess, it seemed like there was no way out.  Thank you to everyone here for all of the helpful advice. 


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Moderator Emerita
LilMirth
Posts: 3,091
Registered: ‎08-09-2008
Re: Small indicators of success - preapproval from capital one

CONGRATS!!! :smileyhappy:

 

These are some pretty big strides that you've made. Very inspirational, letting people know that there is hope, and it doesn't last forever. Thank YOU for paying it forward!

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Valued Contributor
tray
Posts: 1,513
Registered: ‎01-29-2008
Re: Small indicators of success - preapproval from capital one

Congratulatins, did you end up apping for the card.


Starting Score: EQ 546 TU 566
Current Score: EQ 693TU 08 729 EX 08 738Need to Garden/New Accounts
Goal Score: 800
Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
Re: Small indicators of success - preapproval from capital one

tray wrote:

Congratulatins, did you end up apping for the card.


No, I haven't applied for the SPG card yet.  I'm still waiting on the tax return.  I just filed, so I won't have it for another 10 days or so. And once I receive the return, I'll need to wait for my reports to update after I pay off the BofA and Chase balance.  So I'm a month or so out before I apply for the SPG card. 

 

Thanks to everyone for the continued encouragement.  Maybe if I feel like banging my head against the wall again, I'll try another round of GW letters to see if I can get any lates removed.  But it's looking like I am just going to have to wait for them to age off.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


Take the FICO Fitness Challenge