Does Cap One forgive past?

[Breakthecycle2]

If you've burned them before, do they "forgive" and if so what should the waiting period be?

[Anonymous]

Yes they forgive.

Not sure of waiting period.

[Jannelo]

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@Breakthecycle2 wrote:

If you've burned them before, do they "forgive" and if so what should the waiting period be?

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I'm living proof.  When I had a FICO score in the 520s, they gave me an unsecured Platinum Mastercard $300 SL (credit steps of $200 CLI) while having a charge-off of a Platinum Mastercard for $140 (which ballooned to $600 because a CA bought it) and also while owing them $3966 on a Quicksilver1.   The charge-offs were only a few years old.  I tried the pre-qual button as a lark, not expecting anything, and certainly not expecting anything but secured.   

Anyway, once they approved me and I saw the smaller charge-off had been bought,  I paid that off (well, settled with the collection agency, not PIF), and I got busy and called Cap One to start payments on the larger QS1 charge-off before that debt was bought.  They accepted my offer of paying $200 a month.  Six months later, while still paying on the charge-off, I applied for a new Quicksilver 1, and they gave me a $1000  SL, with credit steps of $500 CLI in five months.  Two months later they gave me a car loan with a surprisingly low interest rate, considering my FICO scores in the 580s to 590s.

Cap One is beyond forgiving and don't seem to hold grudges for past charge-offs.

[gdale6]

One year is the typical period from the previous CO. If the CO is a result of BK sometimes one can get right back in depends on the amount of the CO and no there is no set in stone figure.

[Shooting-For-800]

They are probably the most forgiving!

I burned them and now have $84k in unsecured credit cards and a 2.49% APR car loan.

GL!

[Breakthecycle2]

Thanks everyone. My CO are from about 7-8 years ago.

[Shooting-For-800]

Check prequal page.

[BallBounces]

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@Shooting-For-800 wrote:

Check prequal page.

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Interesting personal anecdote:

I do have a satisfied C1 charge off.  I had been checking the prequal page, for the sake of curiosity.  Five times, I received the typical "No offers found, perhaps you could apply for the Platinum card".

Last week, that changed to more specific wording,  "There are too many delinquent past or present Capital One credit obligation(s)"

It is interesting to me that it went from no offers to blacklisted.  Now I will be testing to see if it reverts back.  (It didn't today)

[iced]

It sounds like this is YMMV.

I went 90+ days late with them on a card in 2012. When I realized what had happened, I called in to make a payment for the entire balance of the card, which they accepted, but then when I asked if I could use the card again, the CSR informed me that the card would never work again and that I should not waste my time ever seeking credit with them again. 

Appeals were an exercise in pounding sand.

It's 7 years later, and for a few more months anyway, they're the lone blemish on my report.

[Anonymous]

7-8 years CO. You should be fine. I was able to get a Capital Platinum within 12 months of CO in 2015.