Capital One CC Restricted

moncsicsi · ‎05-27-2021

Good day All,

I filed CH7 April 19 and I had my MOC 3 days ago (May 25th) and everything has gone very smoothly and well so far. (Knock on wood) My lawyer said my case is simple and I should be discharged first week of August.

Prior to filing, I had C1 Quicksilver credit card with $5500 limit and $0 balance. A few days after filing my Capital One app showed "This account is currently restricted" under the card. But not "Closed" like another account that I accidentally opened in October of 2020, when I thought I was upgrading my card, but instead I was opening a brand new account. Even though I haven't received my discharge yet, Capital one has been sending me "you're pre-approved" emails for weeks.

My question: is it possible that C1 has kept my account open and I could un-restrict it with maybe just a phone call? Should I try that or should I wait until after discharge? I have no doubt that they will approve me again after DC, since I'm on good terms with them, but if I could have that card active again, I think it would give me a jump start on rebuild. No?

Thanks for all the advice.

EQ: 689 EX 613 TU: 690

Hex · ‎05-27-2021

When I filed for BK7 in March of 2016 I only had one credit card. It was a Cap1 QS1 that had been open for about 8 months. It started with 300 CL. I got an automatic CLI up to $3K and a week later I had to file for BK7. I had never spent more the $30 at a time on the card and I always would pay in full as soon as my statement cut. I made sure to cash in my rewards and pay it to zero before I filed. Since it was my only card and my balances were always so small I didn't need to worry about it looking bad if I paid it. Anyway about two days after I filed they restricted the card. I called and was basically told the card was never going to be unrestricted. They did let me open a new card a month later (even before my discharge). A Cap1 Platinum with a $300 limit. My first Cap1 card remained listed as a restricted account with my other accounts for about a year and then disappeared. I do not think you will be able to reopen that account. But I do think you could probably open a new one now. 1 year after they approved me for the post bankruptcy card they approved me for a $15K QS (since converted into a grandfathered Savor card and since CLD'd to $5K). And 6 months after that they approved me for a $30K Venture card which still has the same CL. I'm sure things have changed some after 5 years and after COVID but since you didn't burn them they could be very helpful in your rebuild.

Hex · ‎05-27-2021

Also should mention that the card they closed when I filed was reported as a closed paid account and closed by credit grantor. It was not listed as included in BK.

FireMedic1 · ‎05-30-2021

@Hex wrote:
Also should mention that the card they closed when I filed was reported as a closed paid account and closed by credit grantor. It was not listed as included in BK.

Thats good news.

BK Free Aug25

moncsicsi · ‎05-30-2021

Thank you! That pretty much answers my question. I'm a little disappointed, but what can I do. I will wait until after discharge to apply for a new card, because I've seen a lot of people suggesting to lay low while my case is active. Thanks again.