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Cap One Platinum card approved prior to ch 7 discharge

New Contributor

Cap One Platinum card approved prior to ch 7 discharge

My wife just got her Cap One platinum card approved with a 3K SL. Our ch 7 objection to discharge due date is 2/20. She was pre-qualifed for this card. So we hit the apply button, and got an instant approval. Pretty excited to start credit rebuilding even though our schedule discharge is still 5 weeks away. She had a Cap One platinum card for about 10 years; but Cap One closed it with a "closed by credit grantor" comment right after we filed BK (didn't burn Cap One). Only derogs on her credit report are the BK and 5 tradelines that are in IIB and 0 balance status. Never missed any payment prior to ch 7 filing (BK is due to a business loss). The only active tradeline on her report right now is a student loan with College Avenue (she also has a Navient student loan but that one currently is in IIB/0 balance status). All other tradelines are closed. All her FICO 8 scores are in 550-560 range.


Cap One wouldn't pre-qualify me for anything. So I am going to wait till we get the discharge and then try again. I never had a Cap One card. Not sure if that makes any difference. Currently I don't have any active tradelines on my report. 7 of them are in IIB/0 balance. Rest 8 were closed prior to BK filing. I never missed any payment prior to BK filing either. All my FICO 8 scores are in 535 - 545 range.



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New Contributor

Re: Cap One Platinum card approved prior to ch 7 discharge

1/15 Update - DW got approved for a Discover it Secured card

 She had received a pre-qual for Discover it card in mail last week (I am pretty sure they had pulled her report for this pre-qual prior to our BK filing). Wanted to take a chance and see if Cap One success would continue. But nope - got declined due to BK ("serious delinquency and public record or collection filed"). It wasn't a surprise. Called their customer service and the nice lady suggested she apply for the secured card in stead. We were planning to apply for the secured card anyway till this pre-qual mail arrived last week. She went ahead and submitted the secured card application and got instant approval. It gave her the option to choose the security deposit (from $200 - $2500). We chose the $2500 option. Card should arrive in 2 weeks after they withdraw the security deposit from our bank account.


Our only concern was if Discover would do a new HP for this secured application on top of the HP's we got for the unsecured card application (the CSR couldn't give a definitive answer on this). But that doesn't appear to be the case. She got single HP on both EQ and EX, and those are from the unsecured app. 


Now we wait for the BK discharge Smiley Happy and then I will start my application spree (the same Cap One and Discover)

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