topic Re: Cap. One does forgive!!!! in Bankruptcy

Cap. One does forgive!!!!

Amiashu12 — Thu, 04 Mar 2021 18:51:31 GMT

Hi all. At the title states. A year and a month out of BK 7 discharged, I checked for their prequal for my Wife and I. When I applied, I was approved for 2K and my wife was approved for 3k. I was shocked to see that. Thanks yall again.

Re: Cap. One does forgive!!!!

anniea4001 — Thu, 04 Mar 2021 19:04:42 GMT

Congrats on the approvals.

Did you guys include them on your BK?

Re: Cap. One does forgive!!!!

Amiashu12 — Thu, 04 Mar 2021 19:11:52 GMT

Yes, I burned them for 10k and my wife was for $3k.

Re: Cap. One does forgive!!!!

Ficoproblems247 — Thu, 04 Mar 2021 19:12:44 GMT

Congrats on a couple of decent approvals there! Cap1 is about the most forgiving lender out there. I hope they serve their purpose well in getting you moving onward and upward. Best of luck on your journey ahead.

Re: Cap. One does forgive!!!!

Amiashu12 — Thu, 04 Mar 2021 19:20:04 GMT

Thanks you all again. Quick question. I have penfed $3500 SL and cap. one at $2k and MissionLane at $300 SL. Would it hurt if I close my MissionLane card. Also, my wife has Mercury at $2k SL, Cap.One $3k, MissionLane at $500 SL. Which one should I cancel for my wife without hurting her credit score? Thanks

Re: Cap. One does forgive!!!!

AllZero — Thu, 04 Mar 2021 19:32:35 GMT

Congratulations on your and DW approvals!

Re: Cap. One does forgive!!!!

Ficoproblems247 — Thu, 04 Mar 2021 19:47:18 GMT

@Amiashu12 wrote:
Thanks you all again. Quick question. I have penfed $3500 SL and cap. one at $2k and MissionLane at $300 SL. Would it hurt if I close my MissionLane card. Also, my wife has Mercury at $2k SL, Cap.One $3k, MissionLane at $500 SL. Which one should I cancel for my wife without hurting her credit score? Thanks

You typically want at least 3 revolvers to allow you to maximize your FICO scores (more so mortgage scores.) I usually tell people to close fee harvester cards that they don't use. If they have no AF, there isn't any harm in keeping them open. If there are monthly/annual fees you may want to consider the big picture of what cards you want to try and add to your portfolio and when. Hopefully someone who has better advice about post BK strategies to maximize scores will chime in.

Re: Cap. One does forgive!!!!

masscredit — Mon, 08 Mar 2021 23:46:31 GMT

I've heard Cap1 can be forgiving. Is that based on how much they were burned for? I have 3 Cap1 cards and one Walmart store card. The total is over $50K.

Re: Cap. One does forgive!!!!

sarge12 — Tue, 09 Mar 2021 00:12:01 GMT

@Amiashu12 wrote:
Hi all. At the title states. A year and a month out of BK 7 discharged, I checked for their prequal for my Wife and I. When I applied, I was approved for 2K and my wife was approved for 3k. I was shocked to see that. Thanks yall again.

You want to know what is insane....about 6 months ago, I applied for a Capital One Walmart card. My fico 08 scores have been over 800 for at least 4 years, and over 760 for 10 years, and I had 2 inquiries. Not a single even tiny blemish on my file since 2010...nothing...notta. I was DENIED for too many recent inqueries. I already have a Capital One Quicksilver Signature Visa card for about 10 years with perfect payment history as well...maybe too perfect. I always PIF every card I use, so that means I have paid no interest on a card in 20 years at least. I suspect that is the real reason for the denial. If anyone tells you 800+ credit scores mean you will never be denied...do not believe it. Congratulations on the approval.

Re: Cap. One does forgive!!!!

Anonymous — Tue, 09 Mar 2021 03:17:24 GMT

Wow! 🤩 That's great news! So glad to hear for you! Congratulations to you both! Any other data points you care to share about you two?

Re: Cap. One does forgive!!!!

sarge12 — Tue, 09 Mar 2021 09:55:58 GMT

@Ficoproblems247 wrote:
Congrats on a couple of decent approvals there! Cap1 is about the most forgiving lender out there. I hope they serve their purpose well in getting you moving onward and upward. Best of luck on your journey ahead.

Keep in mind that Cap1 has the annoying habit of doing triple pulls though....even for those with very high scores. Thay are among the most forgiving, but they also are the absolute worse for how they handle hard pulls.