Just got 2 CC offers.. Thoughts??

[njbk]

Hi all, this is my first post here. Great site with great information and support.
I filed in September, had 341 in October and was discharged on the 21st of December!
Should all the included accounts change from a deragatory status to closed? About half did and half didn't, so should I dispute or wait? Any advice would be great.

As for the cards, I got an offer from Capital One (I bk'd 2 loans and a credit card with them) and it's actually not bad. 12 months 0% $39 annual and 18.9% after the first year. Minimum $300 limit with increase in 90 days.

The other is a Credit One card minimum $200 start, $69 annual, $69 enrollment and 23.9%.

Thoughts? and thanks in advance for the help..

[Logan]

Hi all, this is my first post here. Great site with great information and support.
I filed in September, had 341 in October and was discharged on the 21st of December!
Should all the included accounts change from a deragatory status to closed? About half did and half didn't, so should I dispute or wait? Any advice would be great.

As for the cards, I got an offer from Capital One (I bk'd 2 loans and a credit card with them) and it's actually not bad. 12 months 0% $39 annual and 18.9% after the first year. Minimum $300 limit with increase in 90 days.

The other is a Credit One card minimum $200 start, $69 annual, $69 enrollment and 23.9%.

Thoughts? and thanks in advance for the help..

Do you want to pay $39 a year for a credit card or $69 a year for a credit card?

[Flamingo]

Just because you received offers doesn't mean anything as you could be on mailing lists. Even it marked "pre-approved." Once they check your credit reports and see the BK, you would probably get denied. However, Capital One is BK friendly. There is no guarantee that if you apply for either of these cards that you will be accepted. i would toss the Credit One offer in the trash, work hard to clean up your credit over the next few years and not be late with anything watsoever, including utilities, and your chances for better offers will be higher at that time.

[CCsAreEvil]

I would be shocked if CapOne accepted you especially since you BK'd them on multiple accounts. Definitely shred the credit one. If you actually pursue CapOne, report back to us what happens.

[BBW]

I would also try the capital one. I personally don't think you'll get it but it's worth a shot. If you can't take anything else get the credit one as a last resort but they are one of the worst I've seen. I just got one from them and they are a rip off.

[DebtHater]

As other said just because you receive the "pre-approved" offers doesn't mean your eligible for the cards.

I would wait it out a year or two. If you do apply now and are denied it could have a negative impact on your credit report as it will show up as a hard inquiry.

[CCCrazy]

If he applies for a Cap One and gets denied it would not be a hard inquiry. They would not approve him before that point because of the old accounts. I bk'd one credit card with Cap One and they have denied me twice because of "outstanding debt" with them. And they say a hard inquiry was not done. So he might as well go ahead and try Cap One.

[DebtHater]

If he applies for a Cap One and gets denied it would not be a hard inquiry. .......

And they say a hard inquiry was not done.

Who said a hard inquiry wasn't done? Cap One? They're not the one's to ask. Being the majority of rep's at Cap One are incompetent, coupled with the fact that they lie every time their mouth moves, they would be the last one's to ask. The only way to know for sure is to check your credit report yourself!

A hard inquiry by definition is a voluntary inquiry or an inquiry that you initiate in order to obtain credit. Regardless if the credit request was approved or not is academic. It's not the approval or denial that shows on your report, it's the fact that a voluntary request for a company to obtain your credit report was made.

The only difference between an approval or denial is that an approved credit application will show up on your credit report as an account. If the loan wasn't granted then there will be no account. Again, regardless of the outcome of a loan application, it will still show as a hard inquiry.

Prior to us filing BK we attempted to get a consolidation loan that was denied and it shows on both mine and my wife's credit report as a hard inquiry (the application was for a joint loan).

The only inquiries that don't affect your credit are soft or involuntary inquiries. They do not affect your score as these were initiated by either lenders to offer promotions or monitor your credit, or prospective employers for a job consideration.

Soft inquiries will show up on your copy of a credit report but is not on copies obtained by third parties.

[njbk]

Well I applied for the capital one and the Hooters card and by no surprise I was denied on both accounts.... The capital one did not hit my report, but the hooters card did.. So back to the drawing board!!

[BBW]

I'd apply to orchard bank (HSBC)

[njbk]

Even if I bk'd them? Well HSBC I did.

[DebtHater]

Even if I bk'd them? Well HSBC I did.

My suspisions are that you will not be approved for an Orchard Bank card as HSBC is the underwriter.

[Amy26]

I advise you to apply for the Hooters card again in a month. I was dicharged in September and in October, I applied for the hooters card... I was instantly denied. I tried again in December and then I was approved. They check TransUnion so, make sure your transunion report is nice and clean.

Perhaps they have better approval rates if you wait a few months post discharge.