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Post Bankruptcy Credit Card Approval!!

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New Contributor

Post Bankruptcy Credit Card Approval!!

I just wanted to post an FYI for anyone looking to rebuild their credit. Capital One is absolutely BK friendly. Long story short, I applied and was approved! Only a $500 CL, but it's a start and it's a Stepline Program with generous CLI's if you follow. I must mention though, I filed Bk 4/08, was discharged 8/08, applied and was approved for my first post BK credit card in 10/08 (Orchard Bank, $300), obtained 2 student loans=$9000 (federal/no credit check), charged the card every month and pif, therefore the card was reporting a $0-$5 balance every month which is equivalent to a 0-2% util, applied for and was approved for an auto loan 3/08,$20k ($5k down in cash), and then, after 5 mos of on time payments, applied for Capital One. I almost forgot to mention, I initially applied for Capital One in 10/08 before I had any reestablished credit and was turned down. In my opinion, they need to see some post BK payment history. Either that or I just applied to soon after Bk. My credit scores before Bk were low 500's, after high 400's or so. Hope this is helpful. And another FYI: Pay your credit cards in full as soon as you use them! Do not wait for the bill. I learned the date Orchard Bank reports and was able to make payments before they reported every month.

 

EQ-662 (8/09), TU-659 (8/09), EX FAKO-663 (7/09)


Starting Score: 662
Current Score: 652
Goal Score: 750


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Message 1 of 6
5 REPLIES 5
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New Member

Re: Post Bankruptcy Credit Card Approval!!

What are the dates that Orchard Bank reports???

 

Message 2 of 6
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New Contributor

Re: Post Bankruptcy Credit Card Approval!!

Hello,

     Orchard Bank always reports your balance on the last day of the month. Not the billing or statement date.


Starting Score: 662
Current Score: 652
Goal Score: 750


Take the FICO Fitness Challenge
Message 3 of 6
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Contributor

Re: Post Bankruptcy Credit Card Approval!!

That is helpful. Do you happen to know the date Capital One reports?

EQ 637,TU 575, EX FAKO 680 AS OF 4/19/09
EQ 640, TU 579 EX??? as of 5/15/09
EQ 645, TU 627 as of 6/2/09, EX ???
EQ 662, TU 632, EX ??? as of 9/4/09
EQ 676, TU 676 as of 5/6/10
EQ 678, TU 676, EXP 694(Lendor Pull) 7/24/10



What is cake for if not to eat?
Message 4 of 6
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New Contributor

Re: Post Bankruptcy Credit Card Approval!!

Actually, I do. They report the evening of your statement. I happen to have a card with them as well. The credit bureaus do however take a few days. Call Capital One and ask them for your statement date, not the due date. Whatever the date is, they will report that evening. Once the bureaus update, whatever your balance was the evening your statement was cut will be the amount that was reported.

Starting Score: 662
Current Score: 652
Goal Score: 750


Take the FICO Fitness Challenge
Message 5 of 6
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Contributor

Re: Post Bankruptcy Credit Card Approval!!

Thanks! :-)
EQ 637,TU 575, EX FAKO 680 AS OF 4/19/09
EQ 640, TU 579 EX??? as of 5/15/09
EQ 645, TU 627 as of 6/2/09, EX ???
EQ 662, TU 632, EX ??? as of 9/4/09
EQ 676, TU 676 as of 5/6/10
EQ 678, TU 676, EXP 694(Lendor Pull) 7/24/10



What is cake for if not to eat?
Message 6 of 6
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