Captital one credit limits

[tradewiz50]

Would it be a good idea to get a card with capital one before filing? & go in with a couple of payments but a zero balance? so that they are not listed on a BK...

OR- is it better to wait because they will just cancel you anyway?

Did anyone get to keep using their capitol one card after BK?

Wait till after your discharge to apply for any new credit. I Bk'd with Cap One on 1 Visa for over $18K. After my discharge I was approved for a Cap One Visa for $6000.00

[Bandit]

I got my cap one 2 months after discharge. I think you'd be better off to go that route so you know they wouldn't cancel it. Just my opinion.

Wait till after your discharge to apply for any new credit. I Bk'd with Cap One on 1 Visa for over $18K. After my discharge I was approved for a Cap One Visa for $6000.00

lostinmich and tradewiz50, Thank you both so much for sharing the experience & the hope. I don't know why I toss this stuff around in head. It can get so silly. I am in agreement & I will wait. Glad that it worked out for both of you.

[FLBK7]

About 5 months before filing chapter 7 I got an Orchard Bank Card with $500 limit and a $39 fee. I used it for gas purchases and always paid it in full every month. It had zero balance when I filed so I didn't include it in the creditor matrix. Well, Orchard canceled my credit card exactly 3 days after I filed, even though it had zero balance and wasn't included in the BK.

If I were you I would wait until after discharge to apply for any credit card.

[tinroofrusted]

Wait until after discharge!

[SinkingFast]

Wait until after discharge!

Ditto!

We had several zero balance accts going into BK. Only 1 survived. And at that, they reduced our credit limit by half.

[debtjumper]

Capital One was the only creditor that let me "keep" a credit card after I was discharged from Chap. 7. I had the card for about a year before the bk with a $500 limit. About two months ago (about 15mos from discharge) they raised my limit to $3000 without me even asking. I just applied for another CapOne card and got approved. A mortgage broker told me that several of the investor banks we inquisitive on why I didn't have more than 3 lines of credit.

[planemechanic]

I had a grand total of one credit card with a zero balance going into BK four years ago. A Chase MasterCard with a $13,500 limit. I did not include them in the case and they never blinked an eye. Of course they have never reduced my interest rate below 23% nor have they increased my limit. But neither is a problem since I pay them off every month and never carry a balance.

Since then I have been approved for a Cap1 MC for $1,000, a US Airways MC for $6,800, a WaMu MC for $2,500. So I am pretty happy. Debt free for the last four years and putting money in the bank.