topic Re: How solid are Capital One pre approvals? in Credit Cards

How solid are Capital One pre approvals?

simi_go — Fri, 20 Jun 2014 17:37:06 GMT

So my BK should be discharged in 10 days, I am starting to look at preapproval sites, and today I get this from Captial One. What I am wondering is how solid are these Pre approvals? I have always gotten the we can not match you to a card message before today. Also it says pre-qualified, not pre-approved. Is that a difference with Captial One?

Re: How solid are Capital One pre approvals?

Anonymous — Fri, 20 Jun 2014 18:06:00 GMT

I would guess pretty strong. My credit score was in the 705-730 range and I can't get a preapproval due to minimal credit history.

Re: How solid are Capital One pre approvals?

simi_go — Fri, 20 Jun 2014 18:09:31 GMT

@Anonymous wrote:
I would guess pretty strong. My credit score was in the 705-730 range and I can't get a preapproval due to minimal credit history.

Thanks for the input. Your credit is probably too good for them lol. Anyone else wanna chime in?

Re: How solid are Capital One pre approvals?

ExplicitElicit — Fri, 20 Jun 2014 18:24:30 GMT

@simi_go wrote:
@Anonymous wrote:
I would guess pretty strong. My credit score was in the 705-730 range and I can't get a preapproval due to minimal credit history.
Thanks for the input. Your credit is probably too good for them lol. Anyone else wanna chime in?

I can't give input as far as approval but we have the same name and I find it rare I find someone with my name!

Re: How solid are Capital One pre approvals?

Anonymous — Fri, 20 Jun 2014 18:32:58 GMT

Take a look around the site for Capital One threads of CLI's. People seem to get angry when Capital One is weak on the approval for such credit line increases. Just realize this and take it into consideration for your decision.

Also, the offers are pretty true, as long as you haven't made any hard pulls against your credit report either right before or since the pre-qualify. At least that's my experience with other company pre-quals.

Re: How solid are Capital One pre approvals?

simi_go — Fri, 20 Jun 2014 18:37:03 GMT

@ExplicitElicit wrote:
@simi_go wrote:
@Anonymous wrote:
I would guess pretty strong. My credit score was in the 705-730 range and I can't get a preapproval due to minimal credit history.
Thanks for the input. Your credit is probably too good for them lol. Anyone else wanna chime in?
I can't give input as far as approval but we have the same name and I find it rare I find someone with my name!

Yep there aren't that many of us Bradley's out there.

@Anonymous wrote:
Take a look around the site for Capital One threads of CLI's. People seem to get angry when Capital One is weak on the approval for such credit line increases. Just realize this and take it into consideration for your decision.

Also, the offers are pretty true, as long as you haven't made any hard pulls against your credit report either right before or since the pre-qualify. At least that's my experience with other company pre-quals.

I understand that the starting CL is probably going to be crap, and that the CLI will be crap as well, but coming out of BK this is gonna be one of my best options if avaliable. So I can't wait to app for the Quicksilver in 10 days.

Re: How solid are Capital One pre approvals?

Anonymous — Fri, 20 Jun 2014 18:45:40 GMT

Cap One is BK friendly if you did nto burn them but you might want to wait until your bK is discharged and reporting

Re: How solid are Capital One pre approvals?

One7 — Fri, 20 Jun 2014 18:48:21 GMT

I agree with how crappy Cap 1 is overall. Usually low CLs and they pull all your CRs with HPs, but they do help. I'd say the pre approval must be pretty good, I try every month and have never gotten a pre approval from them. Good luck

Re: How solid are Capital One pre approvals?

Skye12329 — Fri, 20 Jun 2014 18:48:32 GMT

Personally i dont think they work for me, i have a card with them already, however i check the pre-qual. That one question of what your interested in or hows your credit i think screws up the results. I have tried all different answers and will get these are the cards you are pre-qual for.

Re: How solid are Capital One pre approvals?

coldnmn — Fri, 20 Jun 2014 18:54:44 GMT

When I tried when I first started rebuilding my offer was for a platinum card with an annual fee. At the time I didn't realize how difficult it would be getting a credit card and didn't apply. A month later they sent me a preapproval for a no annual fee and I applied and got it with a $300 CL. They must have sent it because of me checking that site as I never had one in the mail before. With that thinking you should have a chance. Good Luck!

Re: How solid are Capital One pre approvals?

Anonymous — Fri, 20 Jun 2014 18:58:49 GMT

A couple of good points here, especially the multiple hard pulls. Have you considered just trying to get a secure card for now? Honestly, my secure card got me my Sam's Club and Discover in just a matter of 2 months then the USAA, AMEX, and Citi, 3 months after that. Mine are all starters with the highest APR, with the exception of my USAA and AMEX which are middle tier APR %s

Re: How solid are Capital One pre approvals?

simi_go — Fri, 20 Jun 2014 18:59:46 GMT

Ok thanks everyone, my discharge should be on July 1st, and I have all my accounts cleaned up except 1 that just wont report correctly. So we will see.

Re: How solid are Capital One pre approvals?

simi_go — Fri, 20 Jun 2014 19:02:45 GMT

@Anonymous wrote:
A couple of good points here, especially the multiple hard pulls. Have you considered just trying to get a secure card for now? Honestly, my secure card got me my Sam's Club and Discover in just a matter of 2 months then the USAA, AMEX, and Citi, 3 months after that. Mine are all starters with the highest APR, with the exception of my USAA and AMEX which are middle tier APR %s

Amex won't touch me until about 9 years after the bk, Citi on average for 6, and USAA about 2. The secured route is gonna be the same as Capital One basically except that I don't have to put up my money. I won't completely discount secured cards, just don't like them in my situation. If I can't get approved for anything else then I will go the secured route. But I don't think that I will have to. I do have some old good accounts that were not included in the bankruptcy so that should help my situation.

Re: How solid are Capital One pre approvals?

Anonymous — Fri, 20 Jun 2014 19:15:03 GMT

Well, go for the CapOne preapproval as soon as you can then. To me, the high APR they offered shows that it is a legit offer. As long as there isn't a ton of surprises in the HP, I would guess you are good to go. Good luck!

Re: How solid are Capital One pre approvals?

TheBoss — Fri, 20 Jun 2014 20:04:36 GMT

I got the same prequal a few months back. Applied for the QS1 and got approved with pretty bad credit, so I'd say go for it.