Capital One - closed account, re-applying - feedback

[Anonymous]

About 7-8 months ago, CapitalOne closed my account due to having more than 2 returned payments. I was going through financial issues due to a lawsuit and my bank account overdrafted a few times. 

Whent they closed my account, I had a balance of $6,200 on the card.

I have since paid off the balance and the account is now gone. On my credit report, I noticed they changed the status to "loan paid" or something like that which i thought was interesting.

I went on the Cap1 website and did the credit card pre-approval application and they pre-approved me for Venture Rewards, VentureOne Rewards and some others.

My question, however, is that because the pre approval was with a soft inquiry, how likely am i to actually get approved once they do an HP and see that i had an account closed with them in the last year? It wasnt a charge off or anything like that and its been paid in full. 

Input appreciate. Thanks

[Anonymous]

I would say your chances are pretty good considering I have 800+ scores and can't get them to pop anything other than a Platinum.  My issue is that I want their $500 offer on Savor but open too many accounts for them to stomach to give me their free money.

[DebtJoe]

Cap1 is very forgiving. It's not like your account was a charge off, or you were seriously delinquent.

I'm gonna say you're good to app.

[Anonymous]

I would apply if I was in your situation. I think the preapproval is a good sign. Let us know what ends up happening!

[Anonymous]

I agree with the posters above. Cap 1 tends to be forgiving. Included them in BK7. They gave me another chance and my CL is higher than what I burned them for in BK7. 

[Anonymous]

Lenders see the exact same information when they soft pull and hard pull you. So they already know. Plus they have internal records.

The only asterisk is that the Cap1 soft pull is off one bureau (sorry I can’t remember which one). So as long as the closed account is on all three they already know.  When you apply then they will triple pull.

[AverageJoesCredit]

I think you could standup Cap Ones Mom on a date and theyd still forgive you

[Anonymous]

I had 2 CapOne cards that were charged off in 2012. I think the charged off balances were $1K and $1.5K. The charge-offs continued to update monthly on all 3 major credit reports until I paid them in full in early 2014. I applied for the Platinum (I didn’t know about this site or to check for ore-approvals) in mid 2014 and was instantly approved for $1K. I’m certain that my charge-offs were known/visible when I applied. I hope that helps.

Edited to add that they were the first lender to give me a credit card after my financial crisis in 2012. The only accounts that survived unscathed were my car note and my student loans. All revolving credit was charged-off so I think they may be forgiving with you. Of course every situation is different though.