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Capital One Platinum APPROVAL!

Boribori
Valued Member

Capital One Platinum APPROVAL!

I haven't posted on here for some years, and I never really do, but I wated to restart my credit journey with everyone here being so supportive. Back in July/August of 2019 I was in a bad financial time as well. I had a lot of really good cards that I let go bad & I feel so stupid for doing. Tarnished my credit report. I hate it, But back in May I decided to take charge and get my credit back in line. I opened an OpenSky secured card back in May of 2020 with a poor score of around 447( Fico 8). Since then My credit has jumped up to 533 which is still very bad, but it's a step in the right direction so I can't beat myself up too bad. It's a step in the right direction. I also realize and have come to terms with that credit rebuild takes a very long time to get better. So after about 10 months of having OpenSky I did the prequalification for Capital One and was pre-qualified for the Cap One Plat and Cap One Quicksilver. I didn't think I'd get approved because I had a secured card with them since back in 2014 & and Quicksilver with a $1650 limit since 2015. I burned them on both accounts. But surprise to me they approved me with a $500SL! I didn't care about the limit because it's for rebuilding. It's a chance! I don't know why they would approve me but I'm so friggin happy. I've learned my lesson and will NOT be making mistakes like I have in the past. I'm more educated on credit now and I really wasn't back them. I'm a statistic, but that's okay! Any tips will be greatly appreciated. I dont know if I should keep my OpenSky or close it because of the $35 AF. I have a $12 subscription on it with a $200 limit. I don't use it. I just let it ride. Or should I try for another card in 6 or so months? I burned discover so i can't do that secured card. I tried. My Burn list pulled from Experian.

 

BARCLAYS BANK DELAWARE$3,775
Closed
16 charge-offs
Closed
16 charge-offs
Closed
2 charge-offs
Closed
14 charge-offs
Closed
Exceptional payment history
Closed
11 charge-off
KAY JEWELERS/GENESIS$0
Closed
2 charge-offs
Closed
19 charge-offs
Message 1 of 11
10 REPLIES 10
M_Smart007
Epic Contributor

Re: Capital One Platinum APPROVAL!

Congratulations on your approval! ...

Message 2 of 11
CreditAggie
Senior Contributor

Re: Capital One Platinum APPROVAL!

Congratulations on your Capital One approval!

Current Cards (in order of approval):


Current FICO 8 | 9:

Credit Age:

Inquiries (24 month):

Banks & CUs:

Goal Cards:



Currently: 2/6, 2/12, 5/24
Message 3 of 11
M_Smart007
Epic Contributor

Re: Capital One Platinum APPROVAL!

@Boribori, Personally I would ditch the OpenSky card , just because of the annual fee. (it should still report for up to 10 years)

You might check Discover's Pre-Qualification web page?  .. To add, would even opt for Discover secure card, as it would un-secure.

All JMHO ..and you may get some better advice than mine!

 

Edited:, Because I missed the last part about Discover.

Message 4 of 11
AllZero
Super Contributor

Re: Capital One Platinum APPROVAL!

Congratulations on your approval!
Message 5 of 11
gdale6
Moderator

Re: Capital One Platinum APPROVAL!

Grats on your Cap-1 platinum approval Smiley Happy

Message 6 of 11
coreyb80
Valued Contributor

Re: Capital One Platinum APPROVAL!

Congrats on the approval!  Only way to go is up from here!

Message 7 of 11
Boribori
Valued Member

Re: Capital One Platinum APPROVAL!

I've thought about it, I've even heard that if you call to cancel the card that they may offer the AF. Wouldn't having 2 cards open making on time payments be better than one? Maybe I'm wrong and you can shed some light on this? I figured having 3 revolving accounts would be optimal for rebuilding credit

Message 8 of 11
Heatt99
Regular Contributor

Re: Capital One Platinum APPROVAL!

congratulations. Way to go to take time to restart your credit journey. It's always tuff when starting from the the bottom with current negatives.

 

* Could you possibly make SECU whole so they can extend credit again.

* look for credit unions that look past your negatives--might be a neddle in a hay stack

* Fintechs that don't do credit pulls that grant credit

* aged AU tradelines that fight the negatives, and boost your score higher

 

GL

Message 9 of 11
mrcraft
Valued Contributor

Re: Capital One Platinum APPROVAL!

Congratulations on your approval!!

 

One consideration might be to join a local credit union and open a secured card with them.  You'll build your credit and relationship with the CU.






Message 10 of 11
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