Received Pre-qualification for Credit One

[nursepower]

with $75 annual fee first year and $99 after that. Not sure I can stomach the annual fees though. I'm due for DC in about 2 weeks. 

[CGeorge]

After I went through a forecloseure, and my credit was completely trashed - I was very grateful for Credit One. Yes, the AF is tough to swallow, but I considered it as my price to pay for my credit being so trashed. I never had any issues with Credit One. I charged, I paid - and they reported to the bureaus. They got me on my way.

[FireMedic1]

Wait until after DC. Some have a score change thats goes up a bit. Then try for the Starter cards with Cap1 prequal page. Try to aviod if at all possible secured cards and Cap1's QS1 card with annual fee. But depends on who got burned and other factors.

[CGeorge]

I agree. Stay away from secured cards. Even through all of my financial woes, I never, ever even applied for a secured card. I scratched my way back up - via lower level cards. Capital One was one of them - and the Marathon Visa issued by Comenity - gave me a $2000 SL only a few months after foreclosure. I don't even think that my score had gotten up to 600 by then.

[Anonymous]

Imho secured cards are a preferable option to predatory lending cards like Credit One. If you have not burned the major banks, a way to get back in with them is via the secured option. Both Capital One and Discover have secured cards with no annual fee that graduate. Bank of America and Citi I think have annual fees.

In truth you can make any card or situation work. As CGeorge said above, just look at it like the cost of repairing your credit. You only need it for a year or two maximum. That $175 will save you thousands of dollars in interest if you plan to finance a car or buy a house. But if you go the secured option it cost you $0 because there is no annual fee and you get your money back. But try the Capital One pre-qualification site. Your score may be high enough to get one of their starter cards.

I had a similar conversation on another site when I was researching "Self Lender". Its $50 in interest over a year and $15 fee up front. People were like  "omg that's 20% interest. Thats outrageous!" Me? I say "$5 a month  to get a trade line that also increase my credit mix score? Where do I sign?"

We (my BK is 1.5 years in the rear view mirror) screwed up. Its going to cost us some money to get back on top. Yes, take it slow, but  also take oppurtinites where you find them.

[MP15_556]

I applied for Capital One Platinum (Unsecured) the day after my Ch 13 discharge and was approved with a $3,000 CL. My score at the time of approval was 612 (EX FICO). The only other account I had was an AU on my wife's Cap One card. I also recently was approved for Discover It Secured (Used pre-qualifier)

[nursepower]

I burned EVERYONE. 

Cap 1 

Discover 

Chase

AMEX

Synchrony

Bank Of america

TD 

Merrick

I had cards with Comenity but they had no balance on them, so not sure if that counts. 

EVERYONE! My score on Credit Karma nd Credit Sesame are back in the 650's though and so far my report is correct for Equifax and TU. 

[MP15_556]

I burned Cap One also. Actually they filed a lawsuit against me (burned them for $1,200). My BK filing took care of the lawsuit.

[nursepower]

WOW...okay...good to know. Thanks!

Did you try the pre-qual first?

[FireMedic1]

Cap1 is forgiving after a year or so after DC. Kinda sad the ones you could have got a unsecured/secured with got burned. I didnt have to go the secured predatory route. I didnt burn any credit cards. There's others out there better than Crapit One. Maybe others can help ya out. i wish you the best. Good Luck and much success with your rebuild!