topic Re: Capital One preapproval reliability after BK7 in Bankruptcy

Capital One preapproval reliability after BK7

ficojonc1 — Fri, 02 Aug 2024 21:42:46 GMT

Hello, I am currently in the discharge stage of my BK, and from this forum I heard that capital one is very friendly with BK.

So then I tried the prepproval application and I was preapproved for 3 cards!

I probably won't officially apply until I get my full discharge notice, but I am just curious... just how reliable are the preapprovals post-bk?

EDIT: Forgot to include, Cap 1 was not included in BK, never had anything with them.

Re: Capital One preapproval reliability after BK7

Jnbmom — Fri, 02 Aug 2024 22:52:35 GMT

Cap one is probably the easiest to get after a BK. I would however advise as you stated to wait until you get your BK discharge contrary to what others have done .

Good luck on your rebuild .

Re: Capital One preapproval reliability after BK7

MissLiz — Sat, 03 Aug 2024 00:07:14 GMT

@ficojonc1 wrote:
Hello, I am currently in the discharge stage of my BK, and from this forum I heard that capital one is very friendly with BK.

So then I tried the prepproval application and I was preapproved for 3 cards!

I probably won't officially apply until I get my full discharge notice, but I am just curious... just how reliable are the preapprovals post-bk?

EDIT: Forgot to include, Cap 1 was not included in BK, never had anything with them.

I've never had a BK, so I can't speak for that, but I can tell you the CapOne prequalify tool has always worked for me.

Re: Capital One preapproval reliability after BK7

Zoostation1 — Sat, 03 Aug 2024 18:36:16 GMT

I waited several years to start rebuilding after I filed, with Capital One being my second card and first unsecured card in the rebuild (QS1 - 3months into the rebuild). I've found their preapproval tool to be pretty spot on. It's not a guarantee of approval but is a strong indicator. I'm 4 for4 on approvals when applying with preapproval. As others mentioned, I'd run the tool again after discharge and then make your decision on applying.

Re: Capital One preapproval reliability after BK7

IsambardPrince — Sun, 04 Aug 2024 20:34:43 GMT

@ficojonc1 wrote:
Hello, I am currently in the discharge stage of my BK, and from this forum I heard that capital one is very friendly with BK.

So then I tried the prepproval application and I was preapproved for 3 cards!

I probably won't officially apply until I get my full discharge notice, but I am just curious... just how reliable are the preapprovals post-bk?

EDIT: Forgot to include, Cap 1 was not included in BK, never had anything with them.

They're not only friendly about bankruptcy, they straight up lost thirty thousand dollars on me and handed me two new cards with SUBs for "Excellent credit" with over $20,000 between them a few years later. But you can get their crappy subprime cards in about a year if you burned them.

Re: Capital One preapproval reliability after BK7

IsambardPrince — Sun, 04 Aug 2024 20:37:53 GMT

@Zoostation1 wrote:
I waited several years to start rebuilding after I filed, with Capital One being my second card and first unsecured card in the rebuild (QS1 - 3months into the rebuild). I've found their preapproval tool to be pretty spot on. It's not a guarantee of approval but is a strong indicator. I'm 4 for4 on approvals when applying with preapproval. As others mentioned, I'd run the tool again after discharge and then make your decision on applying.

The only really bad thing about applying with Capital One is they're going to do a hard pull on all three credit files.

They're so lax about losing money on people that I'm amazed that they want to see all three reports.

If Citi loses a few dollars on you they'll never talk to you again, so I found Capital One's reaction to be mildly amusing.

Re: Capital One preapproval reliability after BK7

MileHigh96 — Mon, 05 Aug 2024 12:56:04 GMT

In all my dealings with them, the CapOne pre-approval tool is rock solid. If it says you're pre-approved, then you will get the card if you pull the trigger. But as was already mentioned, CapOne WILL pull all three credit reports. But of course when you are rebuilding, that's a minor thing to have to deal with.

Good luck going forward!