One Year Post...odd capital one denial

[Anonymous]

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[MP15_556]

I was approved 2 days post discharge (Ch. 13) for the same card with a $3,000 CL. My scores were very similar to yours. EX 612, EQ 609, TU 540. (TU seems to be ignoring my AU status on one of my wifes accounts) I had no other open accounts other than the AU. Opened a secured Discover the next week. Curious to see how my scores respond after new accounts post.

[audio-disabled]

Don't close any credit cards yet. 

Barclay Apple wouldn't approve me until I had 1 full year of rebuild. You may be 1 year post DC from BK, but you only have 10 months rebuild. Give it two more months, wait until 12 full months of credit history is reported, then try again.

In the meanwhile, you might wanna look up on AZEO method - pay off all credit cards except one. And if I were you, I would put all my expenses on Discover Card even though the balance is small, but PIF and keep using it for two months. Then you should graduate and be granted higher credit line. From here, you should be able to qualify for CapOne. 

I think your scores is too low especially 1-year post DC. I was up 650s 1-year post DC before I opened three credit cards last month.

Here's a link to support your rebuild steps: https://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/m-...

[MAZDA3]

Why not wait until NFCU graduates? You aren’t that far away as it is. Navy has some quality rewards card that a person with a BK can get. In fact, what does Cap 1 really offer to a rebuilder that Navy doesn’t? You aren’t going to get a premium Cap 1 card at this point in your rebuild, but you’ll get stuck with a card that doesn’t grow.

With Discover and NFCU, with responsible use you’ll see CLI in no time.

Credit rebuilding isn’t a race, it’s a journey. Slow down and let NFCU and Discover graduate, get those credit lines up with regular responsible use, then test the waters with other lenders.

I didn’t even have a credit card (unsecured or secured) until three years after my BK. I lived cash only and it worked fine.

[Yeliaba1]

I’ve seen Navy give big approvals to some with scores lower than yours while they still had a secured card.  Paying off some of the small balances to zero first might help. I stay away from CAP1 as well as I can not justify the 3 hardpulls for a low limit that frustrates many with slow growth.