my first Credit card

[dumbdumb]

Hey
I just got my first credit card after my ch 7 bk .... Capital One no anual fee, 14.9% with a credit limit of $5000. not bad eh?

[CindyLou]

Wow! Thank GREEEEEEAAATTTTT!!!!!!! Good work. You are well on your way to a new start. Now remember, keep that balance below $500!

[Jeremy]

Very nice. I love CapOne's "no fee" setup.

[cap350z]

Congrats. What was your FICO score prior to filing and before CapitalOne approved you? That is awesome.

[dumbdumb]

Congrats. What was your FICO score prior to filing and before CapitalOne approved you? That is awesome.

its been a little over a month since my discharge . FICO score is 670. i dont plan on using the card but its nice to know its there if i need it.

[FLBK7]

Congratulations! But let me offer a bit of advice about Cap1 since I learned the hard way!

You should use the card at least twice a year - just buy something small or a tank of gas, and then pay it off in full. I too got a no-fee Cap1 Master Card ($2,000) and a no-fee Cap1 Visa ($2,500) shortly after my discharge, and never used the cards. As a result, Cap1 started charging me a $39 fee on the MC!! When I called to complain, they told me quite bluntly that an inactive account costs them money, hence the fee. They refused to waive the fee as well. This made me really mad and so I asked them to close that account. I got a confirmation number over the phone but when I check my Cap1 activity online, 3 months later, the MC is still there, with the $39 fee apparently waived and zero balance. I already cut up that card, so there's no way on earth I'm going to use it again.

So now I charge something small to my Cap1 Visa every couple months, just to avoid this situation. I also have a $5K WAMU Visa which I used for Christmas presents and am now paying off in two payments.

Just my $0.02.

[dumbdumb]

Congratulations! But let me offer a bit of advice about Cap1 since I learned the hard way!

You should use the card at least twice a year - just buy something small or a tank of gas, and then pay it off in full. I too got a no-fee Cap1 Master Card ($2,000) and a no-fee Cap1 Visa ($2,500) shortly after my discharge, and never used the cards. As a result, Cap1 started charging me a $39 fee on the MC!! When I called to complain, they told me quite bluntly that an inactive account costs them money, hence the fee. They refused to waive the fee as well. This made me really mad and so I asked them to close that account. I got a confirmation number over the phone but when I check my Cap1 activity online, 3 months later, the MC is still there, with the $39 fee apparently waived and zero balance. I already cut up that card, so there's no way on earth I'm going to use it again.

So now I charge something small to my Cap1 Visa every couple months, just to avoid this situation. I also have a $5K WAMU Visa which I used for Christmas presents and am now paying off in two payments.

Just my $0.02.

wow thanks for the info.... i have had capital one for many years but used it maybe once or twice prior to bk. i will be sure to buy something with it then

[crazydebt]

i applied for capital one and got denied i had them in my bk of creditor so I was still in there system. They sent a letter and was like, we denied you because of past credit and didn't look up your credit so no inquires were submitted which was nice but no CC so boo hoo.

[stljohn]

weird. cap turned me down i think cause my recently discharged bk didn't show discharge in TU from where they pulled. disputed with TU to get it marked discharged and called cap to confirm that was the problem prior to resubmitting. the csr said they don't issue cards to people with recent bk!

whatever. i think my local cu is going to give better card and cli anyway.