Just got approved for Cap1 CC!

[zpbk13]

I would try Capital One as well. I can't hurt. I was so surprised they approved me less than 30 days out of bk and even though I didn't bk a card with them, we did bk a car loan with them. I'm still in shock. I really didn't even want credit but they kept sending me these applications and I thought well try it for a lark just to see what happens. So you just never know.

[RBisDebtFree]

I disclosed rent/mortage and wages. Also, I am making more than 30 times the credit limit I asked, so I doubt income is an issue.

I would definitely try CapOne! Let us know how it goes!

[CCsAreEvil]

HSBC and Orchard denied me in a blink of an eye and I never BKed them...

I'm wondering what caused them to deny you. Don't you disclose your wages and rent/mortgage costs and such? Could how much your making be the factor?

I include CapOne in mine and just got dc'd. I'm wondering if I should dare even try to apply with them.

[RBisDebtFree]

HSBC and Orchard denied me in a blink of an eye and I never BKed them...

[Amy26]

Capital One won't give me any credit after BK'ing them. The only reason they site on the denial letter is "excessive deliquency with capital one" or something like that. It was only like 1,100 I BK'd on them.

I got a Hooters card last month with a 1,100 limit and no fee and I just got approved for an HSBC Reward Zone Mastercard with a 500 dollar limit. So, I'm very pleased.

[RBisDebtFree]

I think some of the members reported that they have been approved by Cap1 even though they included them in their BK filing. It would be really interesting to know what really makes the decision at Cap1 and other banks...

As for credit traps, etc. if I could rebuild my credit without ever using a credit card, I would do just that. In fact, I am thinking about that more and more and may it is possible with those secured loans against your savings, almost every credit union does that, I am not sure if it is as good as a credit card but if it is, then maybe it's the way to go for me! It costs about $15 in interest over 2 years on $500 so that's about $0.70-0.80/mo. credit rebuilding service!

[zpbk13]

I think one of the reasons they approved us is because we did not include them. I had a card with them but paid it off 2 years ago. What does surprise me is that I co-signed for a vehicle for my son that we surrendered so I am quite shocked that they gave me the card. Oh well, as I said, our goal is not ever to get caught in the credit trap again.

[whipster1]

Congrats! Although many people dislike "CAPONE" they were always generous to me before my BK and was sorry I had to include them.

[zpbk13]

Just wanted to post that we received a Capital One card in the mail the other day. I only applied as a joke because I knew they would not approve us so soon out of bk. But of course they want to get you in their clutches again! Ha! Anyway, our limit is $500, the annual fee is 0% until 12/10 and then 18.9% with the annual fee of $39. We plan only to use the card when we travel or purchase something on-line and ONLY if we have the cash ready to pay it off. I had an American Express card for years so I am quite familiar with the pay it off when you get the bill deal.

[aces67]

Nice, I'll let you know what I got when I received the actual card and details. Do you have any rebuilding tools in place?

Also, I think you were able to get a auto loan, how many months after discharge did you apply?

We just got our auto loan last month and we got the Cap One card 3 to 4 months ago. I guess we got it right after we were discharged.

Congrats on receiving your card! We've paid on time every month and we got our first increase last month. Just keep yours paid on time and you'll see it grow!

[RBisDebtFree]

I apologize for ressurecting an old thread but I promised to post the details... So I received the card in mail today, credit limit is $300 with 0% for 6 months. As everyone else, I was auto enrolled in CreditSteps... Activated my card, added my wife, bought post stamps for $9.80 as I needed them, that'll be my only purchase for this month

[RBisDebtFree]

I see, thanks a lot for your information. I had a good auto loan history, all loans that I had have been paid off. I had three loans total ($3000, $18000, $32000), and I had good history with chase that's why they were the only one that approved me at the dealership, though for a 22% interest rate with about 40% down payment. So thanks but no thanks!

Good thing I didn't stop, I went applying on my own, and... got approved by a local state employees credit union, 8.84% praise God, I really wanted to get a loan to rebuild my history but wouldn't go anywhere above 15%. Anyways, my payment will be about $200 a month and I will do my best to pay it off within 1.5-2 years, I plan on paying $500 a month to pay it off quick but still saving though...

[Amy26]

Well, my score is in my signature... that is what it was when I got approved. I had good credit before my bankruptcy though and very good auto loan history with no repos or lates.

I got a 72 month loan at 17.9% on a brand new car and I think we paid about 26,000.

I found the rates on new cars were more favorable than a used one. Used car rates were getting me like 24-27% rates.

[RBisDebtFree]

Amy26, I don't mind getting answers from people that I didn't ask a question it's nice, information is important so thank you!

Do you know what your credit score was when you applied? What terms did they give you if you don't mind me asking?

[Amy26]

I know you didn't ask me but I got an auto loan about a week after discharge. Ford was able to get me a loan through AmeriCredit.