topic Re: Capital One --- Is Reconn an Option in Credit Cards

Capital One --- Is Reconn an Option

Anonymous — Tue, 03 Jul 2012 13:57:49 GMT

My boyfriend has no credit and many medical collections on his report that are anywhere from 2-6 years old. He was getting several offers from Capital One for a 0% interest card that would grow with him after he made ontime payments. He bit the bullet yesterday, called in and was denied. Does Cap 1 offer a reconn process? Can/will anyone suggest a company with a secured card? Thanks in advance.

Re: Capital One --- Is Reconn an Option

Anonymous — Tue, 03 Jul 2012 14:06:08 GMT

He shouldn't have any problems getting a secured card with Capital One that's how I started, my credit was a mess up to last year (August 2011) I got one I had to put $99 deposit and they give me $200 secured card. Ive come a long way since then, I've been approved for Amex Zinc, Chase Freedom, Chase Amazon Visa and a couple of store cards with GE, all this in less than a year. Good luck.

Re: Capital One --- Is Reconn an Option

Anonymous — Tue, 03 Jul 2012 14:47:52 GMT

I wouldn't bother. Only negative info on credit report=denials. Secured cc only options unless he can get his medical collections PFD. He should get 2 secured CC. Doesnt matter how much. Get ASAP.

Re: Capital One --- Is Reconn an Option

BreezyWe — Tue, 03 Jul 2012 15:18:46 GMT

or try a rebuilder card like these

orchard bank

credit one

merrick bank

Re: Capital One --- Is Reconn an Option

Anonymous — Tue, 03 Jul 2012 15:46:55 GMT

I rather do a secured card with a credit union(s) with no AF. Those AFs on those other cards are horrible. Better to save 250 and put in secured card that you will get back vs. paying 50/75/100 AF. Likely to have to work with crappy cards until those medical collections get old/fall off which means 2-3 years.

Re: Capital One --- Is Reconn an Option

Revelate — Tue, 03 Jul 2012 16:05:13 GMT

@Anonymous wrote:
I rather do a secured card with a credit union(s) with no AF. Those AFs on those other cards are horrible. Better to save 250 and put in secured card that you will get back vs. paying 50/75/100 AF. Likely to have to work with crappy cards until those medical collections get old/fall off which means 2-3 years.

Most secured cards don't have an eggregious AF, I'm just fine with BOFA's $39 that'll graduate even. If you have free cash flow and can afford to tie it up for call it 2 years (can be less) secured cards are the way to go I think. Easier approval, less AF, and these days better (read: more than zero) rewards.

Re: Capital One --- Is Reconn an Option

Anonymous — Tue, 03 Jul 2012 16:06:20 GMT

Don't think OP will even qualify for BofA Secured. If you can get BofA Secured, that is good card. I am comparing secured to ones like Credit One, First Premier, etc.

Re: Capital One --- Is Reconn an Option

Revelate — Tue, 03 Jul 2012 16:17:36 GMT

@Anonymous wrote:
Don't think OP will even qualify for BofA Secured. If you can get BofA Secured, that is good card. I am comparing secured to ones like Credit One, First Premier, etc.

Dunno, medical collections don't count the same as "standard," there's been numerous reports of Chase not evaluating them the same way, and I suspect BOFA would be similar in that case. I also think the full denial pictures people post about various cards aren't always accurate: I've received the BOFA secured card a total of 3 times (back in my stupid and cash-based days) with a laughable albatross open on my records... and the most recent was 2 open collections, and two tax liens, and a card closed by BOFA earlier even.

I think like any other approval, it's very much YMMV, but I'm not convinced that BOFA is necessarily harder to get than many others these days, perhaps *especially* these days with every lender wanting more deposits on record. I wouldn't rule out good secured cards for nearly anyone these days, open judgements appear to be the only really sticky issue.

Re: Capital One --- Is Reconn an Option

Anonymous — Tue, 03 Jul 2012 22:34:24 GMT

cap 1 seems to be getting a bit more unpredictable with their lending since taking on HSBC's cards.

Re: Capital One --- Is Reconn an Option

LS2982 — Tue, 03 Jul 2012 23:35:39 GMT

I would go the secured route with Cap1. Even FP, just use them wisely.