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Cap One Success Post Chap 7

Established Contributor

Cap One Success Post Chap 7

Cap One let me back in exactly 1 year after discharge, credit steps with a starting limit of $3k.  Burned them on 2 cards totaling $1400 in my Chap 7 filing in July 2015.  Never had more than $1k limit with them before.  Will be interesting to see what my limit goes up to after my 5th payment! 

Hang in there, be patient. Rebuild slowly and have faith.  It will all work out after bankruptcy! Smiley Happy

Chap7 discharge 7/29/15
Fico 6/18: TR:632(high util)
Cap1(Plat+QS) 3500+4500/Merrick 1400/Express 2100/Overstock 4100/VS 500.
Message 1 of 10
9 REPLIES
Community Leader
Super Contributor

Re: Cap One Success Post Chap 7

Great job on the approval and awesome SL!

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
740 EQ FICO 06/2018
750 TU FICO 06/2018
741 EX FICO 06/2018
$24k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 2 of 10
Established Contributor

Re: Cap One Success Post Chap 7

Congrats! I still can't get in with capital one -- 9 months post bankruptcy. First deliquency was September. 


Starting Score: MYFICO 12/30/15 -TU: 481, EQ:561, EX:532 - BK7 DISCHARGED 12/2015 - Current: 09/01/2016 TU:642 EQ: 651 EX: 646
NFCU cashRewards:$6200 QS:$1500 Merrick:$1200 Cabelas:$1000 SonyVisa: $500 JCrew:$850 Overstock:$850 Express: $1050 PaypalCredit:$2150 NAVCHECK:$10K
Message 3 of 10
Established Contributor

Re: Cap One Success Post Chap 7


kobe2012 wrote:

Congrats! I still can't get in with capital one -- 9 months post bankruptcy. First deliquency was September. 


I did say one year after bankruptcy. Smiley Happy  Try again in a few months. 

Chap7 discharge 7/29/15
Fico 6/18: TR:632(high util)
Cap1(Plat+QS) 3500+4500/Merrick 1400/Express 2100/Overstock 4100/VS 500.
Message 4 of 10
Valued Contributor

Re: Cap One Success Post Chap 7

I also burned them.

 

3 years later I have 50k CL between two cards and a 2.49% car loan for 72 months!

 

I have been very very loyal, use my cards every day and make several payments each month.  

 

They treat me like a king and I am very happy.

 

http://ficoforums.myfico.com/t5/Bankruptcy/Life-is-Good-After-Bankruptcy-7-Keep-the-Course-Keep-the-...

 

 

Credit rebuild started in 2014  -  $100k total unsecured credit in 2017  -  $200k total unsecured credit in 2018.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

10% Rotating - Discover                             5%-20% - Amazon & Lowes                                5% Gas & Sporting - Ducks Unlimited
4% Dining & Entertain - Savor                   3% Travel & Hotels - Propel & Uber                   2% Everything Else - Venture


    $ 30,000           $ 28,500          $ 25,750          $ 17,500            $ 7,500             $8,000             $ 7,500              $ 4,000              $ 3,500

                                                     
                                                                   $ 30,000           $ 10,000           $ 10,000           $ 4,000   
Message 5 of 10
Established Contributor

Re: Cap One Success Post Chap 7

Was merck your first card? Do you have an auto loan or did you get a credit builder loan?

Message 6 of 10
Valued Contributor

Re: Cap One Success Post Chap 7


SSH0126 wrote:

Was merck your first card? Do you have an auto loan or did you get a credit builder loan?


If you are talking to me...

 

Cap One was my first card after BK.  $3000 unsecured platinum.  Then another one for $3,000.  Then another one for $1000 (Sony).  Then Merrick or Barclays (can't remember.)

 

Car Loan is normal 2.49% for 72 months.  Never did any secured cards or credit rebuild loans.

 

I had a long history of high limit cards before BK and good income after BK so that may be why I sprung back so fast.  I also run $2k-$12k per month through Cap One cards.

 

YMMV

Credit rebuild started in 2014  -  $100k total unsecured credit in 2017  -  $200k total unsecured credit in 2018.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

10% Rotating - Discover                             5%-20% - Amazon & Lowes                                5% Gas & Sporting - Ducks Unlimited
4% Dining & Entertain - Savor                   3% Travel & Hotels - Propel & Uber                   2% Everything Else - Venture


    $ 30,000           $ 28,500          $ 25,750          $ 17,500            $ 7,500             $8,000             $ 7,500              $ 4,000              $ 3,500

                                                     
                                                                   $ 30,000           $ 10,000           $ 10,000           $ 4,000   
Message 7 of 10
Regular Contributor

Re: Cap One Success Post Chap 7

Cap One flung the doors wide open for me 8 months post Ch7 discharge.

 

I burned them on two old HSBC cards that had been recently sold to Cap One, about 2,500 total between the two. My Ch7 was discharged 03/2015 and Cap One financed a used car 11/2015 $19,000, zero down, 72 months, 4.09%. Two weeks later I got my QS Visa Signature card with a $5,000 limit, two months later I got my Venture Visa Signature card with a $15,000 limit. Both cards got $3,000 increases immediately after the third statement.

 

More recently I combined my QS in to my Venture for a $26k limit and opened a new Venture One with a $2k limit and 12 months 0%. I think Cap One has reached the limit of what they want to give me right now, but I can't complain, my next best card is my Barclay Cash Forward with a $3,000 limit.

BK CH7 Discharged 03/2015
FICO8 EQ-657 TU-657 EX-665
Revolving credit lines 125k.
Message 8 of 10
Established Contributor

Re: Cap One Success Post Chap 7

Well I'm sure your scores are high or you didn't not have bad credit before filing which makes for a much easier rebound..:/
Message 9 of 10
Highlighted
Established Contributor

Re: Cap One Success Post Chap 7


kobe2012 wrote:

Congrats! I still can't get in with capital one -- 9 months post bankruptcy. First deliquency was September. 


It took me 1 year post BK7 to get in with Cap1, I had 1 small balance card with them that was IIB.  Give it a few more months and you will be shown the luv.

" EX 687 EQ 701 TU 695 MMS 695"
Message 10 of 10