topic Re: Cap One application data point after charge off in Rebuilding Your Credit

Cap One application data point after charge off

Anonymous — Wed, 24 Jul 2019 15:02:52 GMT

I have seen many posts lately claiming that Cap One usually considers your application exactly 1 year after charge off and I can confirm this now.

My CapOne was charged off on July 20th 2018 and I was getting denied every month with the same reason that I had previous charge off with them.

I applied this month on the 22nd which is exactly 1 year and 2 days after charge off and I have been approved for the platinum for $300. Never got the pre qualify to work.

One more thing to note is that if you have a Charge off CapOne will deny you without even a HP.

This will only work if you have paid the CO or IIB.
My ch7 was discharged in May 2019.

Re: Cap One application data point after charge off

gdale6 — Wed, 24 Jul 2019 15:54:35 GMT

Thanks for posting this info it will help out on others rebuilding.

Re: Cap One application data point after charge off

BallBounces — Wed, 24 Jul 2019 16:46:53 GMT

@Anonymous wrote:
I have seen many posts lately claiming that Cap One usually considers your application exactly 1 year after charge off and I can confirm this now.

My CapOne was charged off on July 20th 2018 and I was getting denied every month with the same reason that I had previous charge off with them.

I applied this month on the 22nd which is exactly 1 year and 2 days after charge off and I have been approved for the platinum for $300. Never got the pre qualify to work.

One more thing to note is that if you have a Charge off CapOne will deny you without even a HP.

This will only work if you have paid the CO or IIB.
My ch7 was discharged in May 2019.

@Anonymous ,

Thanks for the data. Congrats. May I ask a few questions?

1) Regarding: "I applied this month on the 22nd which is exactly 1 year and 2 days after charge off".

What are you using to define the date of the charge off? The date that the CO notation was placed on your credit report?

As an anecdote: I have a C1 account with a charge off dated January 2018. I currently get the immediate message "Previous or Current charge off" from them. I could easily say "Capital One will immediately deny you if you have an 18 month charge off", but I don't think is any more correct either - I think there are other variables unknown to us.

2) Prior to your success in applying today, did you run through the pre-qual check? Had you run through the pre qual in the past or were you cold apping?

Re: Cap One application data point after charge off

Anonymous — Wed, 24 Jul 2019 17:32:37 GMT

1 - In my report i did not have a specific date but i could see that it has been charged off since July 2018. so i called Cap One and asked what was the exact date my account was charged off and they said its July 20th, i also asked about their 1 year from Charge off polify and they said they will not confirm that but its the norm in most of the cases so YMMV sometimes.

This will only work if the CO account has been paid or was included in a discharged BK.

2 - Yes i did the pre qual before i cold apped and nting popped up. I just went ahead knowing that they will not do a HP anyway if its still in that Charge off phase.

Hope it answers your questions and

Re: Cap One application data point after charge off

BallBounces — Wed, 24 Jul 2019 17:44:12 GMT

Thanks!

1) Do you know if and to what degree Capital One was paid as part of the CH7? (I am ignorant on BK process, am curious if and when they received any payment prior to discharge, and if you know that. I expect the answer is no?)

2) Had you done the prequal in the past, and been told explicitly you were denied because of a pre existing charge off? Point here is, there are towo distinct types of prequal denials: A) No offers, try this card and B) You have an existing or recent capital one account delinquency.

One thing I am trying to determine is what date and data they may be using. It may be something other than "1 year from a CO, and the debt is paid".

Re: Cap One application data point after charge off

FireMedic1 — Wed, 24 Jul 2019 19:28:27 GMT

Congrats! I know you been hoping to get back in and you did!