Capone going nuts??????

[Anonymous]

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@creditwraith wrote:

I burned them on a platinum in my CH7 that had a 600 limit. A month after discharge they approved a new platinum for 1000. Today, three years later I have almost 25k in revolving with them. They just have great tiered products, and fantastic service. My favorite lender by far, as they are there in the bad times too.

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Wow.

[Anonymous]

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@SouthJamaica wrote:

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@Anonymous wrote:
Wife just got 3k Capone plat and 3k quicksilver instantly... She burned them a year ago with a bk. weird part here, she has 650 tu 660 eq and ex frozen on credit karma...my fico had her tu and ex fico 8 in mid 500s, and mortgage and fico 4 in 670-680. This is her first type of credit, a year after bk.

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We should all be nuts like Capital One.

The safest time to grant credit to someone is during the 7 years subsequent to bankruptcy, because they can't file again for bankruptcy during that time period.

Capital One is just being smart, as opposed to vindictive.

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True, but the debtor can still default by using and not paying. Then it becomes a collection and a charge-off rather than being discharged. It's still a risky strategy on Cap One's part.

[SouthJamaica]

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@Anonymous wrote:

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@SouthJamaica wrote:

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@Anonymous wrote:
Wife just got 3k Capone plat and 3k quicksilver instantly... She burned them a year ago with a bk. weird part here, she has 650 tu 660 eq and ex frozen on credit karma...my fico had her tu and ex fico 8 in mid 500s, and mortgage and fico 4 in 670-680. This is her first type of credit, a year after bk.

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We should all be nuts like Capital One.

The safest time to grant credit to someone is during the 7 years subsequent to bankruptcy, because they can't file again for bankruptcy during that time period.

Capital One is just being smart, as opposed to vindictive.

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True, but the debtor can still default by using and not paying. Then it becomes a collection and a charge-off rather than being discharged. It's still a risky strategy on Cap One's part.

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All lending is risky, but lending during that time is less, rather than more, risky.

[Anonymous]

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@SouthJamaica wrote:

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@Anonymous wrote:

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@SouthJamaica wrote:

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@Anonymous wrote:
Wife just got 3k Capone plat and 3k quicksilver instantly... She burned them a year ago with a bk. weird part here, she has 650 tu 660 eq and ex frozen on credit karma...my fico had her tu and ex fico 8 in mid 500s, and mortgage and fico 4 in 670-680. This is her first type of credit, a year after bk.

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We should all be nuts like Capital One.

The safest time to grant credit to someone is during the 7 years subsequent to bankruptcy, because they can't file again for bankruptcy during that time period.

Capital One is just being smart, as opposed to vindictive.

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True, but the debtor can still default by using and not paying. Then it becomes a collection and a charge-off rather than being discharged. It's still a risky strategy on Cap One's part.

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All lending is risky, but lending during that time is less, rather than more, risky.

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Except that somebody who has declared bankruptcy has already demonstrated difficulty with managing credit, particulary when that bankruptcy is so fresh that there is very little new history on which to make a decision. 

[Anonymous]

http://www.wsj.com/articles/credit-card-lenders-pursue-riskier-borrowers-1403807505

There's tons of money in the sub prime biz.

[OmarGB9]

Grats

[Anonymous]

Congrats! I feel the same way. We burned them in our BK and now we are back in with them a lot deeper than I thought they would allow.

[alextercero]

Congrats

[taxi818]

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@Anonymous wrote:
Wife just got 3k Capone plat and 3k quicksilver instantly... She burned them a year ago with a bk. weird part here, she has 650 tu 660 eq and ex frozen on credit karma...my fico had her tu and ex fico 8 in mid 500s, and mortgage and fico 4 in 670-680. This is her first type of credit, a year after bk.

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That would make sense seeing how the use fico 04 most of the time. Its good they don't hold a grudge.

[NICKI183]

I am glad to hear that they are very forgiving to you.  I too have gone back and forth with CapOne.  I now have three cards and missed a payment on one card so they refuse to increase any credit on that one.  I think it will always be stuck at $500.00.  Maybe one day they will forgive me and continue increase my limits with the cards that I have.  I am happy for you favor.