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What are my approval chances for a second/"unbucketed" Cap One CC?

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Anonymous
Not applicable

What are my approval chances for a second/"unbucketed" Cap One CC?

Hi Everyone,

Need some help in figuring out if Cap One would approve me for a second CC (one that is not bucketed).

 

Here is my credit profile:

- BK7 discharged in Feb 2018

- Current FICO 8's - EX - 651, EQ - 666, TU - 644

- Currently have 3 open CC's and 2 open secured installment loans.

- Inquiries - EX - 1, EQ - 2, TU - 1

 

The first credit card I opened after filing my bk is a Cap One Platinum card with a $3K CL in Jan 2018. In addition, I have two secured cards (one from Discover opened in Jan 2018, and the other one from a local CU opened in March 2018). I PC'ed my Cap One Platinum to a QS card a couple of months ago, and got $500 credit steps CLI last month bringing my current CL to $3500. From what I have read, this card is most likely bucketed and no scope of getting any significant CLI's in the future.

 

I would like to apply for another Cap One card that is not bucketed - a card with a higher SL with potential to grow. I have very good income. Cap One pre-qual gives me two offers - Platinum and QS One with a $39 AF. I believe both these cards are considered starter cards and would likely be bucketed, and that's what I am trying to avoid. What are my chances of getting approved for a QS or a Venture or a Venture One card at this stage in my rebuilding? I wouldn't mind the AF if that gives me a higher CL.

     

 

Message 1 of 5
4 REPLIES 4
pipeguy
Senior Contributor

Re: What are my approval chances for a second/"unbucketed" Cap One CC?


@Anonymous wrote:

Hi Everyone,

Need some help in figuring out if Cap One would approve me for a second CC (one that is not bucketed).

 

Here is my credit profile:

- BK7 discharged in Feb 2018

- Current FICO 8's - EX - 651, EQ - 666, TU - 644

- Currently have 3 open CC's and 2 open secured installment loans.

- Inquiries - EX - 1, EQ - 2, TU - 1

 

The first credit card I opened after filing my bk is a Cap One Platinum card with a $3K CL in Jan 2018. In addition, I have two secured cards (one from Discover opened in Jan 2018, and the other one from a local CU opened in March 2018). I PC'ed my Cap One Platinum to a QS card a couple of months ago, and got $500 credit steps CLI last month bringing my current CL to $3500. From what I have read, this card is most likely bucketed and no scope of getting any significant CLI's in the future.

 

I would like to apply for another Cap One card that is not bucketed - a card with a higher SL with potential to grow. I have very good income. Cap One pre-qual gives me two offers - Platinum and QS One with a $39 AF. I believe both these cards are considered starter cards and would likely be bucketed, and that's what I am trying to avoid. What are my chances of getting approved for a QS or a Venture or a Venture One card at this stage in my rebuilding? I wouldn't mind the AF if that gives me a higher CL.

     

 


IMO at this time considering your very recent BK I'd say your chances are very small. Frankly considering your 3-4-month-old BK, I think the $3500 CL is pretty good. Step by step, you'll get there but it takes more than a few months.

Message 2 of 5
pizza1
Community Leader
Super Contributor

Re: What are my approval chances for a second/"unbucketed" Cap One CC?

I would agree with pipe guy. I didn't start to get the high instant approvals...($10-20K) until 2 yrs post, and at the time my scores were 670's plus.. They also were very lienient a few years back. They have since then tightened the reigns. Give it a year, and then try.
Message 3 of 5
Anonymous
Not applicable

Re: What are my approval chances for a second/"unbucketed" Cap One CC?

Thank you Pipeguy and Pizza1. Appreciate your responses.

Message 4 of 5
Anonymous
Not applicable

Re: What are my approval chances for a second/"unbucketed" Cap One CC?

Yeah. I'd be over the moon to have a 3k CL on any card. lol. I couldn't even get that before I filed. My highest was $2500 on a Chase card.

Message 5 of 5
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