topic Re: Capital one approval after collections with them in 2016 in Credit Card Approvals

Capital one approval after collections with them in 2016

AspiringDink1991 — Thu, 14 Jan 2021 18:44:39 GMT

Today i was pretty shocked, I got approved for a CapOne Platinum card at $3k SL even though my account with them was a charge off in 2016.

after being declined for a Best Buy with Citi Bank

starting to feel like maybe I'm doing something right 🤷‍♂️
now to garden for another year and maybe I'll finally be able to get some better cards with more rewards and whatnot.

Re: Capital one approval after collections with them in 2016

AllZero — Thu, 14 Jan 2021 19:14:22 GMT

Congratulations on your approval!

Re: Capital one approval after collections with them in 2016

OmarGB9 — Thu, 14 Jan 2021 19:56:24 GMT

Congrats!

Re: Capital one approval after collections with them in 2016

Rebuild2019 — Thu, 14 Jan 2021 19:59:44 GMT

Congrats on your approval.

Re: Capital one approval after collections with them in 2016

cashorcharge — Thu, 14 Jan 2021 20:02:29 GMT

That's terrific!!! Congratulations on your approval!!

Re: Capital one approval after collections with them in 2016

gdale6 — Thu, 14 Jan 2021 23:17:07 GMT

Grats on getting back in with Cap-1 and a nice SL to boot

Re: Capital one approval after collections with them in 2016

Anonymous — Thu, 14 Jan 2021 23:29:11 GMT

Congrats!

Re: Capital one approval after collections with them in 2016

DebtStinks — Thu, 14 Jan 2021 23:58:05 GMT

Congrats! A 3k starting line is their max starting line on a "rebuilder card." It can grow in time. Just follow the process and know Cap1 LOVES to see large spend and large payments for several months consecutively before granting an increase. Good news is the CLI requests can be done daily with Cap1 and are soft pulls.

Best of luck!

Re: Capital one approval after collections with them in 2016

Anonymous — Fri, 15 Jan 2021 00:52:31 GMT

Congratulations on your approval!

Re: Capital one approval after collections with them in 2016

AspiringDink1991 — Fri, 15 Jan 2021 01:34:29 GMT

So my current daily spender is my NFCU Signature Rewards, big spend and big payments.

should I transition to Cap One for daily spend for the time being to improve my chances on CLI?

the SL with NFCU was $15k! That was my first ever unsecured since my accident in 2016.

Re: Capital one approval after collections with them in 2016

mrcraft — Fri, 15 Jan 2021 01:35:04 GMT

Congratulations on your approval!!

Re: Capital one approval after collections with them in 2016

CreditAggie — Fri, 15 Jan 2021 04:00:26 GMT

Congratulations on your Capital One approval!

Re: Capital one approval after collections with them in 2016

gingerflower — Fri, 15 Jan 2021 04:07:45 GMT

Congratulations!

Re: Capital one approval after collections with them in 2016

M_Smart007 — Fri, 15 Jan 2021 07:08:10 GMT

Congratulations!

Re: Capital one approval after collections with them in 2016

Credit4Growth — Fri, 15 Jan 2021 10:49:01 GMT

@AspiringDink1991 ...

That is a big win with C1. Your starting limit is their max starting line on a rebuilder card. 💥Congratulations on the approval!

Re: Capital one approval after collections with them in 2016

AspiringDink1991 — Fri, 15 Jan 2021 12:56:19 GMT

I noticed your mortgage scores and it reminded me, my mortgage scores are majorly suffering, tips to increase those?

607,607 and 654 are my mortgage scores.

@Credit4Growth wrote:
@AspiringDink1991 ...

That is a big win with C1. Your starting limit is their max starting line on a rebuilder card. 💥Congratulations on the approval!

Re: Capital one approval after collections with them in 2016

Credit4Growth — Fri, 15 Jan 2021 15:13:54 GMT

@AspiringDink1991 wrote:
I noticed your mortgage scores and it reminded me, my mortgage scores are majorly suffering, tips to increase those?
607,607 and 654 are my mortgage scores.
@Credit4Growth wrote:
@AspiringDink1991 ...

That is a big win with C1. Your starting limit is their max starting line on a rebuilder card. 💥Congratulations on the approval!

Honestly, I use AZEO (for both primary and AU CCs) in combination with addressing only the negative reasons given on reports pulled from MyFico...

The applicability of those 2 actions affects many underlying factors that determine the mortgage scores... based on what I read, have been told and experienced.

There are maybe a hand full of members here that seem to do in depth research on scores and what influences then. I have read several and communicated with 2 or 3 of them in Hope's of raising my EQ score.

Hope that simplicity of what I provided helps!

Re: Capital one approval after collections with them in 2016

Credit4Growth — Fri, 15 Jan 2021 15:26:27 GMT

P.s.

I have no idea as to what is going on with the TU mortgage score. I believe I have done what I could to increase it. Also, TU's algorithm's methodology seems to completely allude my thought path.

I will have a clean profile in about 2 years and at this point do not wish to spend a huge amount of energy in further understanding that particular algorithm.

9 out of 10 times I receive instant approvals and that feels pretty good! 😁☺

Re: Capital one approval after collections with them in 2016

AspiringDink1991 — Fri, 15 Jan 2021 16:06:32 GMT

Negative reasons given on report, so ie like my original Cap 1 which still shows as a derogatory.

doesn't seem like I'll be able to do much for my old OC Charge Offs. They seem to be stubborn, my highest mortgage shows 0, collections the two lower, show 2 collections, hoping i can get a SettleFD from Portfolio Recovery on the both of those 🤷‍♂️
literally only thing I can think of at this point

Re: Capital one approval after collections with them in 2016

Getty59 — Fri, 15 Jan 2021 17:54:27 GMT

Congratulations on the approval!