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I filed bankruptcy against a capital one credit card and in march 2011 the bk ch 7 was discharged. I owed capital one approximately 10,000.00 when I filed. The card was never sent to third party, infact I was never even late on the card once. Just hit rough times and had to file bankruptcy to get a fresh start. Now, I'm not expecting them to give me a card because obviously I burned them in my bankruptcy...But a close friend of mine had 2 credit cards with them that both charged off, one of which they sued him for. He also had a car loan that he was constantly late with and he ended up filing bankruptcy as well. Car was repossessed due to the bankruptcy. two days after his discharge he got a car loan from capital one again!! I was shocked. And then about a week or two after that he got 2 credit cards with them. **bleep**?! Are they stupid? Anyhow, after hearing about his good luck with getting a second chance with capital one I decided I would give it a try and apply for a credit card with them just a few weeks ago. Well, It instantly declined me. I got a letter in the mail that said I was declined due to a past account and that no credit check was performed. I just don't understand why they would give my friend a car loan and 2 cards after he burned them with both charge offs and bankruptcy...then I paid them on time up until the day I filed and they refuse to even consider it? I was really just looking for a card that doesnt have as many fees as credit one, first premier, ect. Does anyone know how long you stay on their black list for?
How much did your friend have charge off? I would guess there is different treatment for $10,000 lost in your BK versus say a couple hundred charged off.
Blacklisting is not typical with them. I would expect that if you got another tradeline (say a secured card) and it reported for a few months, they would approve you.
Just to share my experience....we filed Ch 7 in July 2010 and dischared the very end of Sept 2010. About 3 months ago (9 months post bankruptcy) I started trying to get a credit card to help me and my husbands credit score. I could not even get a secured card from Capital One. My husband and I both BK them for about 2K each. I applied for several different cards, even the more subprime and could not get approved. Something must have *clicked* with our credit at the beginning of this month and my husband and I both got pre-approved offers from Capital One in the mail. For now, we are waiting to get a Capital One card. I also got a Discover card letter in the mail that week that I was approved ($750 cl) for. It has been a huge relief actually, trying to get back on your feet is tough and discouraging at times. I think if you wait a little longer, maybe close to a year post bankruptcy, you may have better luck.
The trick that I have learned after applying 3 times in the last 5 years since BK.... check pre-approval site and DONT apply to Cap1 if not pre-approved.
My friend has a charge off and got approved.
I have a charge off but Cap1 is still handeling account and got denied... I think once they release out of Cap1 as a company they will issue new card, but again check pre approval
I discharged ~$1500 of a $2000 CL in Ch. 7 (filed 6/30/2010, discharged 9/30/2010), and today (10/25/2011) was approved for a $2000 Platinum MC. 0% interest until 7/2012, 22% thereafter (which is better than anything else I've received post-BK).
Please feel free to contact me with any questions via MyFico PM. Thank you!
@IantoJones wrote:I discharged ~$1500 of a $2000 CL in Ch. 7 (filed 6/30/2010, discharged 9/30/2010), and today (10/25/2010) was approved for a $2000 Platinum MC. 0% interest until 7/2012, 22% thereafter (which is better than anything else I've received post-BK).
Please feel free to contact me with any questions via MyFico PM. Thank you!
do you mean 2011?
I agree with checking the Cap One pre-approval site.
DH and I both included CapOne in CH 13 BK (where we paid them back), and we are both still blacklisted 6 1/2 years later. It's definitely a YMMV type of thing.
I've lost my desire for a CapOne, so I don't much care anymore.
OP, when Cap One rejected DH and I for cards post-BK, we both went with Orchard for rebuilding. They have AF's but they are reasonable, they're super easy to manage online. They are far superior to FP. I like 'em a lot for rebuilding. I kept my Orchard account open for a year - it opened the door for other no AF cards with higher CL's.
I do indeed mean 10/25/11 (re: the approval date, as highlighted). I have just corrected it above, and I thank you for calling this to my attention.
Maybe the discrepancy in blacklisted vs. not has something to do with Ch. 7 vs. Ch. 13? Or history with previous account (prior to BK) ?
I know that the offer arrived almost exactly a month after my 1-yr. anniversary of discharge, if that might have something to do with it.
All the best, to everyone in their rebuilding efforts.