topic Re: HELP HELP!!! SHOULD I APPLY YES OR NO?? in Credit Cards

HELP HELP!!! SHOULD I APPLY YES OR NO??

Anonymous — Tue, 15 Jan 2013 22:13:32 GMT

Hello!,

I just checked my Transunion score- Today is 710 on Jan 15th 2013. I want to apply for Capital One Spark Business which is 2% cashback.. But I am afraid of being denied. I have a Chapter 7 Bankruptcy that was discharged in 2009. I dont want to waste my time.. Everything is on time and almost no debt.

Should I apply or wait?

Thanks,

Darren

Re: HELP HELP!!! SHOULD I APPLY YES OR NO??

chnceit — Tue, 15 Jan 2013 22:15:05 GMT

Cap One will pull all 3 reports and they will report the business line with debt on your personal credit resport.

I know because I have one and wished I didnt!

Re: HELP HELP!!! SHOULD I APPLY YES OR NO??

daybreakgonesXe — Tue, 15 Jan 2013 22:16:39 GMT

@Anonymous wrote:
Hello!,

I just checked my Transunion score- Today is 710 on Jan 15th 2013. I want to apply for Capital One Spark Business which is 2% cashback.. But I am afraid of being denied. I have a Chapter 7 Bankruptcy that was discharged in 2009. I dont want to waste my time.. Everything is on time and almost no debt.

Should I apply or wait?

Thanks,
Darren

Considering your scores look good and Capital One is pretty forgiving for BKs, you can give it a go I do believe the business cards ask for "excellent" credit, whatever they consider that, so since you're on time, have a low utilization, and hopefully have had a $5000+ CL or loan for approx 3 years (according to CapOne's qualification for excellent), you should be good to go

However, if you have burned Capital One in the past, I would wait on it until you verify with a CS on whether or not that matters, or if you should pay your debt to them!

Re: HELP HELP!!! SHOULD I APPLY YES OR NO??

Anonymous — Wed, 16 Jan 2013 00:34:34 GMT

Which one do you think is easier to get? The Freedom or Spark business? If it is the Freedom, I would say the BK is too fresh. But I was approved for the Cap1 Cash Rewards card in July with both a 7 and a 13 on my credit report with a score of 700+ but I applied for the one with a AF. And barely approved for the Freedom this month with just the 7 reporting and the 7 is 9 yrs, 4 mos old. I know Cap1 is BK friendly but I thought that was just for their average credit cards. OP, you can give it a shot and let us know how it goes. Typically with Cap1, a denial is a denial...they don't have a very good recon process as to recon, folks have had to email the EO.

Re: HELP HELP!!! SHOULD I APPLY YES OR NO??

nicholasyud — Wed, 16 Jan 2013 01:01:20 GMT

Why CApital One ??

There's ton of card with better benefit and rewards.....

Re: HELP HELP!!! SHOULD I APPLY YES OR NO??

Anonymous — Wed, 16 Jan 2013 01:07:14 GMT

WELL.. I applied online-- INSTANT DENIAL

I do 150k a month in purchases with my business and wanted a card that does the most cash back.

Any other suggestions or cards that i WOULD get approved with?

Re: HELP HELP!!! SHOULD I APPLY YES OR NO??

creditnocash — Wed, 16 Jan 2013 01:10:26 GMT

@nicholasyud wrote:
Why CApital One ??
There's ton of card with better benefit and rewards.....

they have a 4 year old bk.

@Anonymous @OP sorry for the denial. hopefully they didnt tripple pull.

Re: HELP HELP!!! SHOULD I APPLY YES OR NO??

Anonymous — Sat, 19 Jan 2013 16:27:49 GMT

That is what I figured, unfortunately. The Venture and Spark Business are Cap1's prime cards. I would try again in 2017 or 2018. Sorry for the denial OP. It will be awhile for the prime cards.