My CH7 will be discharged within a few days. I already opened an OpenSky card with $250 and it started reporting earlier this month with a $27 balance. My current FICO scores (from CCT) are 598, 594, and 620. I currently have a reaffirmed auto loan and a student loan on my credit report.
I have received a ton of offers for financing from dealerships, but I have no interest in buying a car right now. I have also gotten a few CreditOne offers which had annual fees so they were promptly shredded. The first two offers I got from Capital One both had annual fees so those were shredded as well.
In the last few weeks I have gotten four additional offers for the Cap1 Platinum card with 0% APR until 6/2019 and no annual fee. I thought about jumping on that offer right after my discharge is granted and hits the reports. Do you think I should do that, or hold out a few more months to see if Cap1 sends better offers?
Replying to my own post to better reflect what I'm asking....Basically I would like to know if anyone has gotten better offers by ignoring the initial "We see you filed BK" offers and waiting a few months? The reason I ask is that I am pre-approved for the Platinum, but the Quicksilver One says "pre-selected" and has a $39 AF.
@Anonymous wrote:
Have you tried checking pre qualification offers on capital one website and discover website? They are typically near 100% success rate if you get that pre approved/qualified offer
The Capital One site says I am pre-approved for the Platinum with no AF and pre-selected for the Quicksilver One with a $39 AF. I prefer the cash back the Quicksilver One offers, but I would have to put an average of $216.66 per month or $2,600 total spend on the card yearly just to offset the AF.
(Just a side note...A few months before I filed for BK7, I closed a zero balance Quicksilver Visa Signature with 10k limit and 12.99% fixed APR.)
I burned Discover in my BK, so they are not an option.
@RobertEG wrote:Do any of the offers for credit indicate that they are being made based on a listing obtained from a CRA?
Yes. The offer for the Platinum is firm. I am hoping to get an offer for the Quicksilver One or actual Quicksilver with no annual fees. I'm just not sure if that is an option for BK filers even if I wait. Or should I just bite the bullet and get the no AF Platinum and hope they upgrade it to a QS eventually?
Check the forum. There are plenty of people on here who was approved with Capital One Right after discharged. Some were even approved for $3,000 limits or approved for the Quicksilver card. You just have to make sure your reports are updated correctly first and if you have a previous charge off with Capital One you will have to wait a year.
Based on what I read on this forum I think your chances of approval are good.
@kiea wrote:Check the forum. There are plenty of people on here who was approved with Capital One Right after discharged.
Took your suggestion and did a little more digging on the forums. Seemed like a lot of people were talking about product changes. Went ahead and did another $1 trial on Credit Check Total and noticed that my discharge reported and my scores jumped up a little. I decided to go ahead and accept the pre-approval for the Platinum with the intention to eventually PC to a Quicksilver. Got a $3,000 starting limit. Thanks for everyone's input.
TU 604
EQ 642
EX 618
Wow... that is awesome...Congratulations. I plan on applying in January and I hope to get the same credit limit.
You are welcome. Happy rebuilding
You are welcome. Happy rebuilding
@gorgon wrote:
@kiea wrote:Check the forum. There are plenty of people on here who was approved with Capital One Right after discharged.
Took your suggestion and did a little more digging on the forums. Seemed like a lot of people were talking about product changes. Went ahead and did another $1 trial on Credit Check Total and noticed that my discharge reported and my scores jumped up a little. I decided to go ahead and accept the pre-approval for the Platinum with the intention to eventually PC to a Quicksilver. Got a $3,000 starting limit. Thanks for everyone's input.
TU 604
EQ 642
EX 618
I started the same way as you just did. I didnt burn any CCC's. Yes upgrade to QS when it comes available. Stay away from the QS1, not worth it, and its the hardest card to get PC'ed or anything else. Just for a combine. Good luck on your journey.! Three yrs ago Cap1 gave me a 2k SL. Now its over 65K in total CL's. Play it right and rread and learn from here. You'll be fine.
