Just Approved for Cap1 classic card

[JessMN]

$500 limit, $39 annual fee, 17.9% APR
CreditKarma score: 580

I have no intention of carrying a balance on it - but I' hoping it will help rebuild my credit if I use it for one "normal" monthly purchase and pay it off each month - actually I was thinking I would prefer to pay it off pretty much immediately, like the day I charge it (or within a few days) - or do I have to wait for my statement to come for it to reflect on my credit report?

[iswmle]

I think it depends on the institution. I know with USAA they do not let you pay pending charges on the website (has to be posted to the account). But the other day I called Barclays and was able to make a payment for over the amount of what I owed. So YMMV.

Congratulations, btw! I was approved for the same card recently with the same limit. I am retiring the Orchard and switching to this one. I had Cap1 in the past and they were not included in my BK, I honestly never had a problem with them. Actually, I really liked them. I am hoping I will be enrolled in the credit steps program. Considering I BK'ed all of the big boys (Citi, USAA, Chase) and the ones I did not BK won't poke at me with a stick (BofA, U.S. Bank) I think I will be sticking with Cap1 for years to come. Which I don't mind as long as I am treated fairly.

[JessMN]

Thanks! I'm just hoping in a few years I will be in a position to negotiate taking off the annual feel - I hate those!

[jetsfan2010]

Congrats!

[brokeincmch]

Congrats! My wife and I were both just approved for the Cap1 Platinum MasterCard. We each got a card with a $500 limit and a $19 annual fee which is waived for the 1st year. We applied exactly two weeks after our discharge was filed by the court. Pursuing the same strategy as most people here...just buying all the things that I normally buy (and need) like gas, diapers, milk, etc.

We applied online and expected to be denied but we were both plesantly surprised to be approved. My score was 590 (EX) and my wife's was 570 (EX). I personally am working to get over 600 by the end of the year.

[LadyInTheRed]

You need to wait until you get the statement to pay the balance. Otherwise, your credit report will not show any usage.

[jetsfan2010]

You guys truly give me hope. I didnt BK cap 1 and hope after discharge they will be as nice to me.

[jjones227]

Cap1 approved me in less than two months after discharge. $3000 limit, no annual fee, 0% APR for the first year. I had a 0 balance (and a $24,000 credit limit) with them when I filed BK.

[GHG7F0]

Capitol One approved me and I'm post 341, but not discharged. My credit did pretty well since I had no lates. They gave me $500 on the rewards card, which is plenty for me. I never will be in this situation again.

[msm859]

You need to wait until you get the statement to pay the balance. Otherwise, your credit report will not show any usage.

Well I have a secured visa from a credit union, no annual fee, but also no grace period and I refuse to pay interest - 17% so I pay if off (and more) as soon as I make a charge so I am actually caring a negative $300+ balance. My account will still age and at some point should be eligible for unsecured. Kind of funny have to secure it with a savings account at 1 1/2 times and they charge 17% with no grace period.