Capital 1's Memory

[Anonymous]

Hi all,
I am in the process of re-building and was wondering if anyone has any experience with Cap 1 after burning them?
Actually, they kind of burned me... I had one of their secured cards and defaulted but they said my balance was 2x my limit, and that's AFTER taking my security deposit into account. I was never over limit but was late and then let the account close. This was 5 years ago. It was a horrible experience but I'm hoping not typical.
My current score is around 640-ish + depending on which score you look at. 100% on time payments for all accounts. 1 baddie. Limited history of 5 years. 2 secured cards and a student loan.

[Medic981]

From what I understand, Cap1 is very forgiving and being 5 years ago, I think you are ok.

[Anonymous]

Hello and welcome, im knew to this as well. About 4 years aho i was you g and dumb lol i opened a secured cap1 with dep of $49. I defaulted and my account was sent to collections where it sat for about 3 years. amount owed was about ($200) not much none the less very bad for my credit. About a year ago i said you know what ima settle for less than full and did so. About a 6 months ago i applied for un secured with scores of around 520 denied. About a week ago applied again for their un secured with scores of 590 and was approved with a starting limit of $300.

i know its not much but its a start to make things right and its was UN SECURED at that haha. also my cap 1 still showing on my report as a closed acct (not in collections and not derog) showing paid less than full amount. so given that they still aptoved me.

i posted a cap 1 timeline on (credit app forum) if you wanna go check out how long it took for me to get my card.

hope this answers some of your questions.

[Anonymous]

Okay, so I applied and just got a letter saying that they denied me for an incomplete app.
They had requested copies of id, etc., and I sent it through their portal but maybe they didn't get it? I wasn't denied for a past negative account or poor credit. I don't know what to think. I will contact them again tomorrow, I guess...

[Nova5041]

Oh yeah, youre good! Capital one is very forgiving.

[Anonymous]

Denial.
Called and was told that my unit number did not match my driver's license. Tried to explain that I'm at same address in a different unit and that upload portal would only allow me to upload front copy of license even though address changes were on back.
CSR said I could try faxing in info, which I did today. We'll see...

[Anonymous]

I had them 2 yes ago.. I burned them, 2 of the cards were removed back in November I was approved for a secured card so far.

[Anonymous]

Approved. I guess their memory is fairly short.
I still have one derogatory from them on my CR.
Interestingly, by the time that I learned of the approval I realized that I didn't want/need the extra account because I had gotten approved for a NFCU card in the meantime.
This will make the 4th card in my portfolio. I'm done. Four cards and a student loan are plenty for my needs. Will still do a SSL at the beginning of th year and that's it. 😊

[csl1]

I stopped paying on 2 Cap1 cards totaling $10k in April of 2017; included both cards in a chapter 7 in July 2018 (discharged 10/2018) and was approved for their QS1 this month with a $1k CL. They are very forgiving.