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Target vs' Capital One

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    #1

    Target vs' Capital One

    Hi. I was approved for a hooters card right out of BK7. My husband would now like to get a cc card to start rebuilding, but his TransUnion report is the worst... so, I don't think he should try for Hooters yet.

    We are thinking maybe Target or Capital One. Which card do you think is easier to get? If you have either of these cards, could you please post what report they pulled and what your credit score was at the time.

    Also, are Target and Capital One their own banks or are they affiliated with other banks?

    Thank you so much for your help!
    Last edited by ugh; 09-13-2006, 08:43 AM.

    BK7 Filed: 05/11/06, Discharged: 08/31/06, Closed: 09/14/06
    03/07/07 TrueCredit: EQ 603, TU 591, EX 596
    Credit: $1000 Hooters MC, $200 Target Red, $750 Victoria's Secret (Authorized User), $500 AirTran Visa
    Denied: Wal-Mart, CareCredit, WaMu
    Tags: None
    #2
    Capital One is BK friendly but by invitation only.

    If you apply directly, they will pull all three credit reports.

    I applied about 10 days ago, they pulled all three reports and declined me based on "recent Bankruptcy". That is a direct quote from the turn down letter.

    My fico scores are high 500's to low 600's.

    I don't know about Target.

    Your best bet is to get him an Orchard Bank Card. They may or may not charge higher interest and they may change it in the future, but it's a place to start and if you don't carry a balance, then you won't pay interest.

    Their fees are $39-$59 per year, no monthly fees, etc.

    Comment

      #3
      Originally posted by JusticeForAll View Post
      Capital One is BK friendly but by invitation only.
      Not true. Capital One approved me same month out of bk, no invitation no questions asked. Target I had to apply for several times, denied twice, then only given a redcard (store card) once approved.

      Comment

        #4
        Originally posted by FilingOnMyOwn View Post
        Not true. Capital One approved me same month out of bk, no invitation no questions asked. Target I had to apply for several times, denied twice, then only given a redcard (store card) once approved.
        Do you remember your score at the time and which report they pulled? I wonder why they often pull them all? So, hard pulls would show on each report?

        BK7 Filed: 05/11/06, Discharged: 08/31/06, Closed: 09/14/06
        03/07/07 TrueCredit: EQ 603, TU 591, EX 596
        Credit: $1000 Hooters MC, $200 Target Red, $750 Victoria's Secret (Authorized User), $500 AirTran Visa
        Denied: Wal-Mart, CareCredit, WaMu

        Comment

          #5
          That is interesting what you wrote about CrapOne FOMO!

          It appears there is no method to their madness, since they specifically denied my application based on a "recent bankruptcy".

          Did they also pull all three of your credit reports??

          Comment

            #6
            Yes! I have 3 hard pulls, one on each report.

            But apparently, each individual's results may vary!

            Originally posted by ugh View Post
            Do you remember your score at the time and which report they pulled? I wonder why they often pull them all? So, hard pulls would show on each report?

            Comment

              #7
              Capital One Doesnt report

              I found out that Capital One doesnt report your credit ratings when you have a credit card with them. That is so wrong! I don't ever want to get anything from them.

              BK7 Filed: 10-15-05
              Discharged: 2-22-06
              Closed: 2-22-06
              EQ>587
              EX>517
              TR>607

              First Premier: $200.00
              Last edited by nessa30; 09-19-2006, 06:26 AM.

              Comment

                #8
                Hi Nessa30!

                What does Capital do to your credit ratings?? Could you elaborate?

                Thanks!

                Originally posted by nessa30 View Post
                I found out that Capital your credit ratings when you have a credit card with them. That is so wrong! I don't ever want to get anything from them.

                Comment

                  #9
                  Originally posted by nessa30 View Post
                  I found out that Capital your credit ratings when you have a credit card with them. That is so wrong! I don't ever want to get anything from them.
                  I'm not really sure what that meant. They do report fast and accurate to all 3 bureaus. The only thing they don't report is your credit limit, which is not a big deal if you have more than just their card reporting.

                  They pulled all 3 of my credit reports, I don't know what my scores were at the time, but it was one month out of bk so probably in the 500 +/- range.

                  Comment

                    #10
                    First off, thank you for all of your responses.

                    We have not yet applied to Target or Capital One. However, my husband called Victoria's Secret (World Financial Network National Bank) and asked them to re-open an account that he had closed in 2002 (before our finanical downfall). They were very nice and opened it without question. They are sending new cards (he added me as an authorized user) right away. I know a $750 credit line from Victoria's Secret isn't the greatest, but it's a start on our rebuilding journey. Hey, I need some new underwear anyway. Thank you Victoria's Secret!

                    I just realized... the only cards we have now are Victoria's Secret and Hooters.

                    BK7 Filed: 05/11/06, Discharged: 08/31/06, Closed: 09/14/06
                    03/07/07 TrueCredit: EQ 603, TU 591, EX 596
                    Credit: $1000 Hooters MC, $200 Target Red, $750 Victoria's Secret (Authorized User), $500 AirTran Visa
                    Denied: Wal-Mart, CareCredit, WaMu

                    Comment

                      #11
                      Hi everybody,
                      When I was typing my concern on the subject of Capital One I was typing tooo fast!!! But i just copied&paste an article on Capital One from Clark Howard website. I don't know if any of you have heard of him. But he gives you a lot of info on credit, personal finance, etc.
                      Check this out:

                      Jul 05, 2006 -- How to turn things around on Capital One
                      You’ve probably heard about the Capital One lawsuits going on. Clark has talked about the system Capital One has to damage your credit. Well, now Capital One has stubbornly refused to modify its position. What happens is Capital One does not report the credit limit on your card. Why? It lowers your credit score and therefore destroys your credit image with other potential credit card companies. So, you’re more likely not to get approved for another card and will continue to use the Capital One card. By not reporting your limit, the credit bureaus guess your limit and that makes you very risky. Now a new lawsuit has been filed against the credit bureaus for reporting erroneous information on our reports. TransUnion, Equifax and Experian have some responsibility here, for sure. But it would be simple if Capital One just behaved itself. Clark has given Capital One the chance to come on air and talk about this, but they haven’t responded. So, you have to decide if you want to be their customer. If you’re currently a customer and you want to stay with them, you should charge a bunch of stuff to the card and pay it off. Then, moving forward, the credit bureaus will see and use that credit limit, sending your score back up. Clark will keep trying to come up with ways to manipulate the system, but for now that’s the only way you can turn the situation around.

                      Attention Required! | Cloudflare
                      http://clarkhoward.com/shownotes/category/7/40/

                      Attention Required! | Cloudflare
                      http://clarkhoward.com/


                      I Don't want a card with them.! See ya

                      BK7 Filed: 10-15-05
                      Discharged: 2-22-06
                      Closed: 2-22-06
                      EQ>587
                      EX>517
                      TR>607

                      First Premier: $200.00
                      Last edited by nessa30; 09-19-2006, 06:25 AM.

                      Comment

                        #12
                        Is Target credit card hard to get after BK? Just wondering.


                        BK7 Filed: 10-15-05
                        Discharged: 2-22-06
                        Closed: 2-22-06
                        EQ>587
                        EX>517
                        TR>607

                        First Premier: $200.00
                        Last edited by nessa30; 09-19-2006, 06:25 AM.

                        Comment

                          #13
                          Originally posted by nessa30 View Post
                          Is Target credit card hard to get after BK? Just wondering.

                          It seems that they are BK friendly. However, I have not yet applied. They usually only give a $200 or $300 cl to start.

                          BK7 Filed: 05/11/06, Discharged: 08/31/06, Closed: 09/14/06
                          03/07/07 TrueCredit: EQ 603, TU 591, EX 596
                          Credit: $1000 Hooters MC, $200 Target Red, $750 Victoria's Secret (Authorized User), $500 AirTran Visa
                          Denied: Wal-Mart, CareCredit, WaMu

                          Comment

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