CapOne Platinum post-BK CLI / other questions

OKim · ‎05-17-2020

Hi everyone!

Got a Ch7 BK discharged in August of 2018. Burned all the major issuers: Amex, Chase, Citi, Discover, CapOne ($7k), PayPal Credit (Synchrony), TD Bank.

Was lucky to get unsecured CapOne Platinum in January 2019 with $1000, auto increased to $1500 few months later. Was maxing the card and paying it back several times per billing cycle and got an increase to $4000 on Nov 11, 2019.

I continued to use the card as much as I could, waited 6 months and called this morning to ask for another increase. Requested $10k, Declared income $160k, anticipated spend $10k, spend on other cards $5k (I don't have any others).

Got approved for an increase of $450 and the rep said there was no option for manual review on their end. Didn't accept the increase because wanted to ask this community first.

I have quite a few questions: Does that mean I am maxed with this particular card/account?
There is a pre-qualify for Quicksilver One. Should I take it or wait until I get prequalified for QS or Savor after 2 years post bk possibly?

Discover prequalified me for secured card. Should I take it?

Unfortunately I don't qualify for NFCU.

I am going to apply for secured with Citi in September ($2.5k max limit, has to be two years after discharge).
Any other advice to rebuild in expedited fashion?

Any feedback or advice is highly appreciated.

TU: 702, EQ: 795

FireMedic1 · ‎05-17-2020

@OKim wrote:
Hi everyone!

Got a Ch7 BK discharged in August of 2018. Burned all the major issuers: Amex, Chase, Citi, Discover, CapOne ($7k), PayPal Credit (Synchrony), TD Bank.

Was lucky to get unsecured CapOne Platinum in January 2019 with $1000, auto increased to $1500 few months later. Was maxing the card and paying it back several times per billing cycle and got an increase to $4000 on Nov 11, 2019.

I continued to use the card as much as I could, waited 6 months and called this morning to ask for another increase. Requested $10k, Declared income $160k, anticipated spend $10k, spend on other cards $5k (I don't have any others).

Got approved for an increase of $450 and the rep said there was no option for manual review on their end. Didn't accept the increase because wanted to ask this community first.

I have quite a few questions: Does that mean I am maxed with this particular card/account? Probably
There is a pre-qualify for Quicksilver One. Should I take it or wait until I get prequalified for QS or Savor after 2 years post bk possibly? Stay far away from the QS1 and their $39 AF.
Discover prequalified me for secured card. Should I take it? In a NY Minute. It will graduate with a CLI and you can ask for it to be the CB card shortly after approval.
Unfortunately I don't qualify for NFCU. Is there anyone that was in the military at all? Doesnt just have to be you.
I am going to apply for secured with Citi in September ($2.5k max limit, has to be two years after discharge).
Any other advice to rebuild in expedited fashion?

Any feedback or advice is highly appreciated.

TU: 702, EQ: 795 Credit Karma?

You can upgrade the Plat and get the QS with out the QS1 AF and get the same 1.5% CB.. https://verified.capitalone.com/sic-ui/#/esignin?Product=Card&Action=ProductUpgrade

I got the BB&T Spectrum and SunTrust CB card a couple yrs out of BK. Not a bad card. Single pull.

TWO MORE MONTHS NO BK! (on Eq/Ex)

Anonymous · ‎05-17-2020

Wait you're 700+ Credit scores less than two years out of BK 7?? You give us hope!!

I am in the same boat with a cap1 Platinum $1000 credit steps until $1500 in August. I got the card in February 2020 and a month later somehow got pre-qualified for a QS1 ($500 ugh that's a bucket) ...

I took the QS1 because I like to make my money work and wanted the 1.5%. but everyone here recommends the QS because it doesn't have an AF (though if you spend >$2000 in a year, you break even on the $39 AF). Maybe you can PC the Platinum to a QS?

The discover deal is excellent. Mine graduated as promised from $200 to $2000. Got it in August and it graduated in January I think.

Not sure what your rebuild goal is (like I said you are already post 700, so what's next for you?) But if it's to reduce your utilization with bigger limits, you might try to prequalify for Merrick double your line or mission Lane. They aren't too predatory and with your scores you might qualify for much higher limits than me and no AF.. you could sock drawer them until you get better cards

Good luck

FireMedic1 · ‎05-17-2020

@Anonymous wrote:
Wait you're 700+ Credit scores less than two years out of BK 7?? You give us hope!!

I am in the same boat with a cap1 Platinum $1000 credit steps until $1500 in August. I got the card in February 2020 and a month later somehow got pre-qualified for a QS1 ($500 ugh that's a bucket) ...

I took the QS1 because I like to make my money work and wanted the 1.5%. but everyone here recommends the QS because it doesn't have an AF (though if you spend >$2000 in a year, you break even on the $39 AF). Maybe you can PC the Platinum to a QS?

The discover deal is excellent. Mine graduated as promised from $200 to $2000. Got it in August and it graduated in January I think.

Not sure what your rebuild goal is (like I said you are already post 700, so what's next for you?) But if it's to reduce your utilization with bigger limits, you might try to prequalify for Merrick double your line or mission Lane. They aren't too predatory and with your scores you might qualify for much higher limits than me and no AF.. you could sock drawer them until you get better cards

Good luck

Upgrade your Plat also: https://verified.capitalone.com/sic-ui/#/esignin?Product=Card&Action=ProductUpgrade

When you see TU & EQ thats CK more than likely.

TWO MORE MONTHS NO BK! (on Eq/Ex)

Anonymous · ‎05-18-2020

No upgrades yet @FireMedic1 but I'll keep hitting that link until they show up

Anonymous · ‎05-23-2020

@FireMedic1 wrote:
@Anonymous wrote:
Wait you're 700+ Credit scores less than two years out of BK 7?? You give us hope!!

I am in the same boat with a cap1 Platinum $1000 credit steps until $1500 in August. I got the card in February 2020 and a month later somehow got pre-qualified for a QS1 ($500 ugh that's a bucket) ...

I took the QS1 because I like to make my money work and wanted the 1.5%. but everyone here recommends the QS because it doesn't have an AF (though if you spend >$2000 in a year, you break even on the $39 AF). Maybe you can PC the Platinum to a QS?

The discover deal is excellent. Mine graduated as promised from $200 to $2000. Got it in August and it graduated in January I think.

Not sure what your rebuild goal is (like I said you are already post 700, so what's next for you?) But if it's to reduce your utilization with bigger limits, you might try to prequalify for Merrick double your line or mission Lane. They aren't too predatory and with your scores you might qualify for much higher limits than me and no AF.. you could sock drawer them until you get better cards

Good luck
Upgrade your Plat also: https://verified.capitalone.com/sic-ui/#/esignin?Product=Card&Action=ProductUpgrade
When you see TU & EQ thats CK more than likely.

I did it yesterday! It worked! It's a 100-day rule it seems. 99 days, nope. 100 days since account open? Yes!

FireMedic1 · ‎05-24-2020

@Anonymous wrote:
@FireMedic1 wrote:
@Anonymous wrote:
Wait you're 700+ Credit scores less than two years out of BK 7?? You give us hope!!

I am in the same boat with a cap1 Platinum $1000 credit steps until $1500 in August. I got the card in February 2020 and a month later somehow got pre-qualified for a QS1 ($500 ugh that's a bucket) ...

I took the QS1 because I like to make my money work and wanted the 1.5%. but everyone here recommends the QS because it doesn't have an AF (though if you spend >$2000 in a year, you break even on the $39 AF). Maybe you can PC the Platinum to a QS?

The discover deal is excellent. Mine graduated as promised from $200 to $2000. Got it in August and it graduated in January I think.

Not sure what your rebuild goal is (like I said you are already post 700, so what's next for you?) But if it's to reduce your utilization with bigger limits, you might try to prequalify for Merrick double your line or mission Lane. They aren't too predatory and with your scores you might qualify for much higher limits than me and no AF.. you could sock drawer them until you get better cards

Good luck
Upgrade your Plat also: https://verified.capitalone.com/sic-ui/#/esignin?Product=Card&Action=ProductUpgrade
When you see TU & EQ thats CK more than likely.
I did it yesterday! It worked! It's a 100-day rule it seems. 99 days, nope. 100 days since account open? Yes!

Excellent. Congrats @Anonymous Now you can get more CB.

TWO MORE MONTHS NO BK! (on Eq/Ex)

OKim · ‎06-15-2020

@FireMedic1

Thank you very much for advice! I appologize for the delayed reply. I upgraded the card and sent in a request for manual review ($20,000 line). We will see how it goes. I will get a Discover secured, following your advice. Will shoot for $2,500 secured limit (their max), in hopes it will graduate with significant CLI. In August will try to get secured Citibank unless you advise me otherwise.

@Anonymous

Congrats on getting product change! My long term goal is to get credit back to 740s which I understand would require total availble limits of $15k+. Once that happens, I would love to get back in the door with major lenders (AMEX, Chase, Citi...)

Thanks for input guys. Much appreciated!

Anonymous · ‎06-15-2020

@OKim what makes you say $15k+ limit is needed for a 740 credit score? From my understanding it's 3+ cards and 1 loan with low utilization on the cards and just letting them age.

Anonymous · ‎06-16-2020

Congrats on the CLI and good to see a quick recovery from BK. I filed in 2017 and my scores are only just getting back up to 700ish. Capital One gave me a $3200 platinum card within the first year following BK and I had an old capOne $300 general motors card in my chapter 7. They have since only increased me to $3500 automatically and recently approved me for $300 Walmart card. They have denied all CLI requests I've made but converted my platinum card to quicksilver.