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Hi all,
So I know that cap one states it has to be 1 year from charge off to open a new account. When I applied, I had no pull and got this denial "
Based on your application information, there are too many delinquent past or present Capital One credit obligation(s)". Now that its been over a year, i still get no pulls but a different message "
Based on your application information, we observed activity on a prior Capital One account that is not consistent with our expectations for account usage or the terms of the account agreement". I called and was on the phone for an hour with a supervisor and found out that apparently its due to a returned payment on the account even though it was discharged in bankruptcy. I was told the only way to clear the balance would be to voluntarily pay then I could open a new account. Since the account was closed due to the returned payment its marked as fraud. As a side note, before the one year mark I was denied their store cards for the same reason, however I was just approved for their Neiman Marcus card instantly. Does anyone have any idea what I can do about this?
Offer to PIF for the charge off account ? Actually was able to get someone a new Cap1 card a month after paying off the chargeoff that happened a year earlier... Know its not ideal but its probably the only way your gonna get traction...
Could try asking in the rebuilding forums.... But thats what id do (if i could afford to do so)
-J
It's a little over 6k so that's not my first choice. The EO actually reached out to me this morning. She said it was unusual and opened a case. I'll update once I know more. She did state that she didn't see why it was an issue since the 1 year since charge off has passed. She also stated that, paying it definitely isn’t the only option, especially since it was discharged. She saw my recently submitted app and said she'll dig deeper.
If they are unable to help I'll wait a few months and try to apply again, there wasn't a HP so I'm not worried about re applying until they pull. I was able to get a little traction opening 2 store cards issued by cap one. Prior to my 1 year mark it seemed I was blacklisted for those too and I never had them previously. Hopefully if cap one sees the good history over the next few months w/ the store cards they'll open up a little more.
We are no longer blacklisted since we filed our BK last December and it's been over a year since a charge off but they still deny us with "too many inquiries".
hm interesting. eo called back. different person, he's going to look into it. But heres the thing, he said I had 4 charged off accounts with them. I've only had 3 accounts ever opened. 2 opened on the same day that I combined and then one more that was opened 6 months after. He confirmed the last 4 of both accounts I did have, the 3rd that was combined wasn’t listed. However he said there are 2 more. These aren’t mine and don’t show on my reports. He said he's looking into it and will call back in a week. I’m interested to see what these other 2 accounts are because I believe that is the issue I’m having. He said he was familiar with the 1 year post charge off and doesn’t see why I’m having the issue. Also couldn’t open the account details since it was so old. I’m wondering whose accounts these are…?
@Anonymous wrote:We are no longer blacklisted since we filed our BK last December and it's been over a year since a charge off but they still deny us with "too many inquiries".
As a DP, How many inq do you have? and how many are recent?
@CreditInspired wrote:
OP
If I’m reading this correctly, you’ve opened 3 store cards. IMHO, if this is accurate, refrain from opening any more store cards because in the end it won’t look good to prime lenders when you start applying to them.
GL2U
I only open store accounts that benefit me and that I know I'd use monthly, if not every few months! But thank you!