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Capital One Platinum Approval! Shocked

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Established Member

Capital One Platinum Approval! Shocked

Hello all, so ive actually been reading alot of peoples post on here for a while now, in hopes of trying to gain some knowledge.

I am currently rebuilding my credit. A little back story. Out of highschool i decided to open credit cards that eventually closed and went to collections due to obviously no income. about two years ago had furniture, very small medical bills ($200 total) and att account go to collections. All small anounts and all paid of for less than full amount. I had a capital one secured card close about 2 years ago as well and sent to collections (also paid for less than full). NO COLLECTIONS at the moment

No degrogs, 100 payment history for 8-9 months low inq.

About 6 months ago i applied for Capital one Plat unsecured card and was denied. Shortly after, I open a car loan with perfect payment history for 8 months now. CS jumped from mid 400’s to low 500’s with just my car loan.

I would check every CC pre approval site on the internet and would not have any luck on any. I read somewhere about first progress SECURED and decided to go with them to beuild some positive credit (200) even though it does not graduate.

Then to my surprise i checked Discovers pre qual page and i was matched for their Secured card. From what i read on here Discover is actually not as easy to get, even in the Secured card. So i went for it and applied and GOT IT! super stoked! (200)

A few weeks went by and i had read that ideally youd like to have 3 revolving credit lines with 1 or two installment loans to maximize your Fico scores. So i had been checking Cap1 pre qual page every day with no luck! I really liked Cap1 and i really wanted to get back in with them as a rebuilder. So my CK stated my approval odds for the unsecured platinum was “very good” but since i had been denied about 6 months ago i was very hesitant. But i filled out the app and took the leap. Approved for $300!! i know its bot alot but its definitely a start to a good healthy rebuild!

So what do you gus recomend me go from here.

thanks for the feed back in advance.

FICO

Ex 575
TU 574
Eq 593


CK scores

Ex610
Tu 620
Eq 639
Message 1 of 9
8 REPLIES 8
Valued Contributor

Re: Capital One Platinum Approval! Shocked

Congratulations on your approval....keep grinding....Smiley Happy

 

oh yeah....WELCOME....Smiley Happy

American Express Business Gold(NPSL 10k) Chase CSP (25k) Pier 1(23.5k) BofA CR Siggy (20.8k) BofA BBR (22.1k) Amex BCP(18k) Overstock (21.1K) Lowes (17K) NFCU CLOC (15K) NFCU VS Cash (15K) Care Credit (15k) J Crew( 11.9k)Venture WMC (10.25k) Amex Everyday (10k) Chase Slate (10k) Walmart MC(10k) BB Visa (10k) Discover(9.5k☝️) PayPal Cashback Mastercard (8k) Chase FU (7.4k) Citi AAdvantage Gold World Elite (9.5K) Citi Double Cash (8.5k) Fidelity® Rewards Visa Signature® Card (6.5K) PenFed PCR (5K) PayPal Credit (4550)Discover (4.5k✌️) Kohls (3k) Chase Freedom (1500)

Mortgage May 2017 - 2 auto loans (1 PenFed and 1 Navy) Aug 2018=98K
Gardening until Aug 2020

FICO 8 Scores EX 693(7) EQ 687(9)TU 708(10)
AAOA 4yrs TCL=332,600
Message 2 of 9
Valued Contributor

Re: Capital One Platinum Approval! Shocked

Congrats on the approval and your journey so far! I would recommend either FingerHut or Opensky. That should give you 3 secured/unsecured cards. Also, I would add an SSL loan in to help maximize your scores.


Scores - All bureaus 750 +/-
TCL - Est. $275K
Message 3 of 9
Established Member

Re: Capital One Platinum Approval! Shocked

Thanks !!

I have a First Progress Secured card $(200), Discover It Secured ($200) and now Cap1 Platinum Unsecured ($300)

I have been thinking about fingerhut for some time now, would that be a smart move?

I just recently opened a Self Lender to add that to my profile with positive payment history even though i already have an open car loan IN GOOD STANDING. not sure if the self lender will actually hurt my profile.

what are your thoughts?
Message 4 of 9
Valued Contributor

Re: Capital One Platinum Approval! Shocked


@luna_scout123 wrote:
Thanks !!

I have a First Progress Secured card $(200), Discover It Secured ($200) and now Cap1 Platinum Unsecured ($300)

I have been thinking about fingerhut for some time now, would that be a smart move?

I just recently opened a Self Lender to add that to my profile with positive payment history even though i already have an open car loan IN GOOD STANDING. not sure if the self lender will actually hurt my profile.

what are your thoughts?

i wouldn't get fingerhut since you just pick up some cards or self lender since you have already have a auto loan on your reports you only need one installment loan Smiley Happy. edit i didn't see you already opened a self lender loan. it willn't hurt i would paid it down some if you could it will help your score Smiley Happy You will be able in about a year to get some better cards Smiley Happy if you just let things ride Smiley Happy

Message 5 of 9
Senior Contributor

Re: Capital One Platinum Approval! Shocked

Congratulations on your approval!

Starting Scores FICO 8 (Feb '18):
EX- 519, TU- 530, EQ- 545

Current Scores



Message 6 of 9
Valued Contributor

Re: Capital One Platinum Approval! Shocked

Congrats on the approval! With time, things will keep getting better!
                               

Total Credit: $240,100Credit Utilization: 1%AAoA: 5 years, 7 monthsInstallments: Car Lease, Marcus LoanNegatives: 0

LOWES-35k | BOA-32.5k | AMEX-30k | DISC-27.1k | ALLIANT-25k | NFCU-25k | BARC-15k | BBUY-12k | CHASE-10k | WAL-10k | CITI-9.7k | PENFED-9.7k


Message 7 of 9
Regular Contributor

Re: Capital One Platinum Approval! Shocked


@luna_scout123 wrote:
Hello all, so ive actually been reading alot of peoples post on here for a while now, in hopes of trying to gain some knowledge.

I am currently rebuilding my credit. A little back story. Out of highschool i decided to open credit cards that eventually closed and went to collections due to obviously no income. about two years ago had furniture, very small medical bills ($200 total) and att account go to collections. All small anounts and all paid of for less than full amount. I had a capital one secured card close about 2 years ago as well and sent to collections (also paid for less than full). NO COLLECTIONS at the moment

No degrogs, 100 payment history for 8-9 months low inq.

About 6 months ago i applied for Capital one Plat unsecured card and was denied. Shortly after, I open a car loan with perfect payment history for 8 months now. CS jumped from mid 400’s to low 500’s with just my car loan.

I would check every CC pre approval site on the internet and would not have any luck on any. I read somewhere about first progress SECURED and decided to go with them to beuild some positive credit (200) even though it does not graduate.

Then to my surprise i checked Discovers pre qual page and i was matched for their Secured card. From what i read on here Discover is actually not as easy to get, even in the Secured card. So i went for it and applied and GOT IT! super stoked! (200)

A few weeks went by and i had read that ideally youd like to have 3 revolving credit lines with 1 or two installment loans to maximize your Fico scores. So i had been checking Cap1 pre qual page every day with no luck! I really liked Cap1 and i really wanted to get back in with them as a rebuilder. So my CK stated my approval odds for the unsecured platinum was “very good” but since i had been denied about 6 months ago i was very hesitant. But i filled out the app and took the leap. Approved for $300!! i know its bot alot but its definitely a start to a good healthy rebuild!

So what do you gus recomend me go from here.

thanks for the feed back in advance.

FICO

Ex 575
TU 574
Eq 593


CK scores

Ex610
Tu 620
Eq 639

Congrats






Message 8 of 9
Valued Contributor

Re: Capital One Platinum Approval! Shocked


@luna_scout123 wrote:
So what do you gus recomend me go from here.

I suggest three things, in order of import: 

 

1) Ignore CK scores & never speak of them again;

2) Take a break from apping -- I've heard there's a lovely garden around these parts;

3) Start a GW letter writing campaign. Up-post you say "no derogs" yet you also say "paid for less than full." That's a derog. You say there's several. Those settled accounts are having a major negative impact & need be addressed. 

 

And Congratulations! on your Cap1 approval. Your foot is in the door. 

 

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (11/11/2019): FICO 08 EXP: 747; TU: 749; EQ: 747
2019 Goal Score: 800 across the board


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Message 9 of 9
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