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I have been rebuilding for a good six months now and have been paying a lot off and getting things removed. I currently have 2 Capital One CC's in unpaid charge off status. I was shocked a few months ago when I was approved for a secured card.
Today, I will feeling liketaking a risk so I applied for a Capital One unsecured QUickSilver Ones Rewards card totally expecting to get denied.
HOLY CRAP! I was just approved online with a $500 CL. I am freaking out right now.
It's all because of this forum!! Thank you all!!!
A lot depends upon how thorough a review a given creditor conducts.
A huge advantage to using only FICO scoring in making a determination on relatively low CL or low principal new credit is that it is quick and easy for the creditor, and thus cheap.
If score alone meets their criteria and the risk is low, it may be a prudent business risk not to invest in a manual review.
As an aside, that is also a reason why having AU accounts can foster app for relatively low CL or secured cards.
However, as the amount of credit being sought rises, so does their potential risk, and manual review is more likely to be part of their determination.
Seeing an unpaid CO or credit history of another on your report might then bring into play additional factors that might lead to decline of credit.
@sharriel wrote:I have been rebuilding for a good six months now and have been paying a lot off and getting things removed. I currently have 2 Capital One CC's in unpaid charge off status. I was shocked a few months ago when I was approved for a secured card.
Today, I will feeling liketaking a risk so I applied for a Capital One unsecured QUickSilver Ones Rewards card totally expecting to get denied.
HOLY CRAP! I was just approved online with a $500 CL. I am freaking out right now.
It's all because of this forum!! Thank you all!!!
Congrats! There will be more to come.
@sharriel wrote:I have been rebuilding for a good six months now and have been paying a lot off and getting things removed. I currently have 2 Capital One CC's in unpaid charge off status. I was shocked a few months ago when I was approved for a secured card.
Today, I will feeling liketaking a risk so I applied for a Capital One unsecured QUickSilver Ones Rewards card totally expecting to get denied.
HOLY CRAP! I was just approved online with a $500 CL. I am freaking out right now.
It's all because of this forum!! Thank you all!!!
Congrarts
Log into your account check statements and documents
In the documents section you may have another surprise
A letter saying you're enrolled in the credit steps program with a possible future CLI if you follow the terms set
Good luck and keep up the good work