topic Re: Capital One long-term blacklist in Credit Card Applications

Capital One long-term blacklist

tentwentyfive — Sun, 21 Jul 2024 17:03:24 GMT

So I was fresh out of high school in 2008 and as a stupid kid would I unfortunately burned capital one for around $400.

Today I do have a checking account with capital one that has large monthly deposits, two of what I assume to be bucketed cards (QS1, and platinum both at $500 limits) that I've had for 9 years and I seem to be stuck in some kind of limbo where I'll never get fully in. Every pre approval check mentions a past charged off account (now 16 years old that I can't even find info on).

My scores are now all in the 800s and I have premium cards with every bank I could ever want with large limits... I just can't quite understand this one.

Anyone else experience this?

Re: Capital One long-term blacklist

JoeRockhead — Sun, 21 Jul 2024 17:11:43 GMT

Other than you just having a bucketed card, which is common. Kind of strange even for Cap One not to offer you a different card with a better limit. They might in fact be the most forgiving lender out there. However, I'd say no big loss to forget them and focus on other lenders.

Re: Capital One long-term blacklist

Zoostation1 — Sun, 21 Jul 2024 19:36:03 GMT

@tentwentyfive @JoeRockhead While Capital One will allow more than 2 cards (I have 4 with them), I have seen some posts in the past stating that 2 cards is the limit if they're both what they considerto be sub prime (QS1, Platinuim, Plat Secured, and QS Secured). It also appears that a sub prime card doesn't count as sub prime anymore if it's gotten a PC to a regular card (even if it still has the high apr and is bucketed).

Re: Capital One long-term blacklist

RebelRocket — Sun, 21 Jul 2024 19:40:48 GMT

Unless they have something that you're just dying to have that compliments your normal spending habits, they're not exactly a company that I'm jumping through hoops for if after 16 years there's been no budge to reward you for a successful rebuild.

Re: Capital One long-term blacklist

GZG — Sun, 21 Jul 2024 19:53:32 GMT

@tentwentyfive wrote:
So I was fresh out of high school in 2008 and as a stupid kid would I unfortunately burned capital one for around $400.

Today I do have a checking account with capital one that has large monthly deposits, two of what I assume to be bucketed cards (QS1, and platinum both at $500 limits) that I've had for 9 years and I seem to be stuck in some kind of limbo where I'll never get fully in. Every pre approval check mentions a past charged off account (now 16 years old that I can't even find info on).

My scores are now all in the 800s and I have premium cards with every bank I could ever want with large limits... I just can't quite understand this one.

Anyone else experience this?

if you have good cards, close out the subprime cards, you don't need them anymore, those old cards won't ever grow

you can also try calling and paying off the chargeoff, if they never sold it off to a debt collector

do the pre-approval for the savor one or venture x return different results than the generic one?

https://www.capitalone.com/credit-cards/preapprove/u/?landingPage=savorone

https://www.capitalone.com/credit-cards/preapprove/miles/?landingPage=venture

Re: Capital One long-term blacklist

tentwentyfive — Sun, 21 Jul 2024 20:27:51 GMT

I was mostly keeping them for the age of the account. It's the first cards I got when I rebuilt but at this point it probably would be best to get rid of them. I tried 2-3 months of very high usage where I paid them off immediately each usage to see if that would trigger something but it seems like it's just not in the cards. I think I will be switching my primary checking over to nfcu. Realistically I have more personal cards then I'll ever need but I've become kind of a collector at this point.

Re: Capital One long-term blacklist

Horseshoez — Sun, 21 Jul 2024 20:31:39 GMT

@tentwentyfive wrote:
I was mostly keeping them for the age of the account. It's the first cards I got when I rebuilt but at this point it probably would be best to get rid of them. I tried 2-3 months of very high usage where I paid them off immediately each usage to see if that would trigger something but it seems like it's just not in the cards. I think I will be switching my primary checking over to nfcu. Realistically I have more personal cards then I'll ever need but I've become kind of a collector at this point.

Close them, they will stay on your reports for up to ten years. Odds on bet within a few months CapOne will be begging you to apply for higher tier cards.

Re: Capital One long-term blacklist

IsambardPrince — Mon, 22 Jul 2024 07:52:39 GMT

@tentwentyfive wrote:
So I was fresh out of high school in 2008 and as a stupid kid would I unfortunately burned capital one for around $400.

Today I do have a checking account with capital one that has large monthly deposits, two of what I assume to be bucketed cards (QS1, and platinum both at $500 limits) that I've had for 9 years and I seem to be stuck in some kind of limbo where I'll never get fully in. Every pre approval check mentions a past charged off account (now 16 years old that I can't even find info on).

My scores are now all in the 800s and I have premium cards with every bank I could ever want with large limits... I just can't quite understand this one.

Anyone else experience this?

LOL

I burned them for over $30,000 and they gave me a card again 12 months later.

Today, 5 years after the burn, I have over $20,000 available credit on my Capital One cards, and normal non-bucket accounts. Including a QuickSilver for Excellent Credit.

Re: Capital One long-term blacklist

IsambardPrince — Mon, 22 Jul 2024 08:02:13 GMT

@JoeRockhead wrote:
Other than you just having a bucketed card, which is common. Kind of strange even for Cap One not to offer you a different card with a better limit. They might in fact be the most forgiving lender out there. However, I'd say no big loss to forget them and focus on other lenders.

Yeah, if he did something to make Capital One mad it was not just $400 back in 2008.

As my post said, I have over a $20,000 combined available credit limit with Capital One 5 years after a burn for over $30,000. And a QuickSilver for Excellent Credit.

That's how forgiving they are. They're not only that forgiving, they paid out $400 in SUBs, one $200 for a SavorOne and a $200 for a QuickSilver.

As soon as I got a letter from Capital One about them selling my larger account to Midland Credit Management, and Midland started soft pulling my credit, I panicked and filed bankruptcy figuring Midland would be on my credit report or suing me soon (or both).

Reading Midland's website later, I found out that they delay reporting to the bureaus for 6 months after contacting you so that they can offer you a "pay for never putting it there in the first place".

I certainly would have gone bankrupt (Capital One wasn't even my biggest problem) but that sped it along a lot.

It's just as well that Midland panicked me into pulling the plug. If I had waited several more months to file, that's just several more months the bk7 would be on my credit report. So I guess I should thank them into poking around so loudly.

Re: Capital One long-term blacklist

sjt — Thu, 25 Jul 2024 16:28:52 GMT

@tentwentyfive wrote:
So I was fresh out of high school in 2008 and as a stupid kid would I unfortunately burned capital one for around $400.

Today I do have a checking account with capital one that has large monthly deposits, two of what I assume to be bucketed cards (QS1, and platinum both at $500 limits) that I've had for 9 years and I seem to be stuck in some kind of limbo where I'll never get fully in. Every pre approval check mentions a past charged off account (now 16 years old that I can't even find info on).

My scores are now all in the 800s and I have premium cards with every bank I could ever want with large limits... I just can't quite understand this one.

Anyone else experience this?

In Capital One's Disclosure Statement, it states that your Capital One charge off has to be at least one year before you can apply for their cards.

Re: Capital One long-term blacklist

JustMeeeee — Thu, 25 Jul 2024 19:55:30 GMT

I also keep getting an old account reference when applying with Cap 1, even though the debt is 7-8 years old. But you did get the 2 others cards, so maybe just a limit on how many cards from them.

Re: Capital One long-term blacklist

LADave — Sat, 27 Jul 2024 18:15:10 GMT

@Horseshoez wrote:
Close them, they will stay on your reports for up to ten years. Odds on bet within a few months CapOne will be begging you to apply for higher tier cards.

Even though the closed ones stay on reports for 10 years, I'd close only the second-oldest Capital One card if the oldest one has no AF.

My credit history is about 11 years old on my reports, but my actual credit history goes back to the early '90s. There are times when I wish I had kept at least one of those decades-old accounts.

Re: Capital One long-term blacklist

IsambardPrince — Sat, 27 Jul 2024 22:02:22 GMT

@LADave wrote:
@Horseshoez wrote:
Close them, they will stay on your reports for up to ten years. Odds on bet within a few months CapOne will be begging you to apply for higher tier cards.
Even though the closed ones stay on reports for 10 years, I'd close only the second-oldest Capital One card if the oldest one has no AF.

My credit history is about 11 years old on my reports, but my actual credit history goes back to the early '90s. There are times when I wish I had kept at least one of those decades-old accounts.

When I closed the bankruptcy garbaaaaage from Capital One in favor of my newer C1 cards, my FICO score dropped a whopping 1 point the next month. Oh well.

I don't like a lot of old accounts hanging around. That crap can spook more desirable banks later on and it's not like driving up my account count is doing me any favors. Eventually banks say too many open accounts. Ditch the ****.

Re: Capital One long-term blacklist

Meanmchine — Thu, 01 Aug 2024 03:23:44 GMT

@JoeRockhead wrote:
Other than you just having a bucketed card, which is common. Kind of strange even for Cap One not to offer you a different card with a better limit. They might in fact be the most forgiving lender out there. However, I'd say no big loss to forget them and focus on other lenders.

Yup