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Approved for a Cap one card Wife and I

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  • Approved for a Cap one card Wife and I

    I applied for a Cap one card today. My wife and I were discharged 8-31-10, Working on my credit now.

    I was approved for a $750.00 credit line. Very excited. Was a little worried to his the Submit Button 0% APR till June 2011. of course will only charge a third or under of the available Credit line or under 250 per month, Just Gas, Food.... and pay in full every month.

    My wife all so applied and got the same 750.00. 0% APR till June 2011 ( both APR after the 1 year of Zero will go to 15.49%) Annual fee $39.00

    That is good for now . Do not want to push my luck. will apply for a Hooters card in a few months .

    very cool that you can start to rebuilt so quick after Discharge.
    Last edited by pathfinders; 09-25-2010, 06:38 PM. Reason: wrong wording
    Filled 5-2010
    7-2010 341 Meeting (Chapter 7 No Asset)
    8-2010 Discharged/Case closed!

  • #2
    I am not even filed (October 4th) yet AND I owe them money and they sent me a pre-approved app in the mail today. They never stop
    Filed Chapter 7 October 5, 2010 -341 held Nov. 8, 2010- Report of No Distribution Nov. 12th, 2010- Discharged 1-10-2011 Closed 1-28-2011

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    • #3
      Don't get anymore credit cards. Credit is what caused your bankruptcy. Why would you want to go right back into that? But its better to have no balance on your card.
      Last edited by ironpirate; 09-26-2010, 01:11 AM.
      Filed Ch 7 8/12/10
      341 Meeting 9/15/10
      Discharged 11/15/10

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      • #4
        Originally posted by ironpirate View Post
        Don't get anymore credit cards. Credit is what caused your bankruptcy. Why would you want to go right back into that? But its better to have no balance on your card.
        Not sure why someone who is not even through their discharge should be coming to this thread to give advice on post bk credit rebuilding, but to the OP, the Cap One cards will be great rebuilding cards. They increase your credit limit regularly and they have helped me rebuild my credit post bk.
        You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

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        • #5
          Originally posted by ironpirate View Post
          Don't get anymore credit cards. Credit is what caused your bankruptcy. Why would you want to go right back into that? But its better to have no balance on your card.
          Unless you know the specifics of these people BK...I would be careful with the statement "Credit is what caused your bankruptcy".
          Went into financial rehab 8/30/09
          Celebrated legal financial sobriety 12/9/09
          On The Road To Rebuilding
          5 active accounts in good standing

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          • #6
            I don't know if it's possible to rebuild without a credit card but I don't want to find out the hard way. But nope credit cards didn't cause my bk.
            Filed: 6-7-2010 341: 7-15-2010 DISCHARGED: 9/17/2010

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            • #7
              Originally posted by nc73 View Post
              I don't know if it's possible to rebuild without a credit card but I don't want to find out the hard way. But nope credit cards didn't cause my bk.
              It is a perfectly sound and positive choice to try to rebuild post bk without obtaining credit, but it is also a sound and positive choice to rebuild post bk by obtaining credit. Rebuilding credit will make the post bk transition easier if you have to buy a house or a car in the near future.
              You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

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              • #8
                I do have to say, that I got a notice in the mail the other day from my home owners insurance that let me know my rates are going up, based on my credit score. Credit does matter in this instance I guess. I hate that it does. If I have to get a credit card to rebuild to get lower insurance rates then so be it. I cannot pay these outrageous rates.
                Filed Chapter 7 October 5, 2010 -341 held Nov. 8, 2010- Report of No Distribution Nov. 12th, 2010- Discharged 1-10-2011 Closed 1-28-2011

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                • #9
                  Originally posted by tyson24 View Post
                  I do have to say, that I got a notice in the mail the other day from my home owners insurance that let me know my rates are going up, based on my credit score. Credit does matter in this instance I guess. I hate that it does. If I have to get a credit card to rebuild to get lower insurance rates then so be it. I cannot pay these outrageous rates.
                  My credit score has gone up over 80-90 points since discharge and rebuilding my credit. My car insurance rates came down over $250 a year due to my higher credit score, and that is for a more expensive car. (I just got a new car) My renters insurance is now half of what it was right at discharge. The savings on my insurance is money that can go directly into my savings account.
                  Last edited by backtoschool; 09-26-2010, 01:53 PM.
                  You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

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                  • #10
                    Yeah saving money is the name of the game. More money to have and pay bills with. Hell, with that money I could maybe take a long overdue vacation with my kids to Disney or something in the future. Saving for that vacation of course...not not paying my bills to go on vacation.

                    At least my insurance isn't going up until after I file.
                    Filed Chapter 7 October 5, 2010 -341 held Nov. 8, 2010- Report of No Distribution Nov. 12th, 2010- Discharged 1-10-2011 Closed 1-28-2011

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                    • #11
                      credit cards didn't cause my bk:
                      Filled 5-2010
                      7-2010 341 Meeting (Chapter 7 No Asset)
                      8-2010 Discharged/Case closed!

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                      • #12
                        I just checked my credit scores last night as I hadn't checked them in awhile. They are all around 695 (thats a fico score, except for experian where you can't get a fico score). I am almost 11 months post discharge. Although my scores kept going up and down as I obtained my new credit, my scores were all around 600 at filing bk and 620-630 immediately afterwards. When I got my first cap one card 3 weeks post discharge, my scores went up to 650-660 a month later. Time, and showing a positive credit history has raised them another 30-45 points. It would be interesting to see how my scores compare with someone who filed and was discharged around the same time I was, but did not get credit cards to rebuild. My guess is that my scores would be higher at this point.
                        You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

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                        • #13
                          Cap one will be the first card I will have my husband try post discharge even though I'm going thru a nasty court case with them now.....LOL Not to sure what his luck will be with them
                          "I DECLARE BANKRUPTCY!" Ch 7 Filed 7/15/11 * 3 Minute 341 8/19/11 * Discharged 10/20/11

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                          • #14
                            I used one of those credit simulators and it says my score will go up 22 points once I get a new credit card. So theoretically my score will be 618. We'll see how true that is once the credit limit shows up on my credit report.
                            Filed: 6-7-2010 341: 7-15-2010 DISCHARGED: 9/17/2010

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                            • #15
                              Originally posted by nc73 View Post
                              I don't know if it's possible to rebuild without a credit card but I don't want to find out the hard way. But nope credit cards didn't cause my bk.
                              CC's are not what caused my BK either. Too many people who post here assume a lot. You will see that.
                              Chapter 7 filed 2/26/2010
                              341 meeting 4/18/2010
                              Discharged 6/14/2010-On our way back up the ladder from a rough patch.
                              FICO score goal by June 2011:720+

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