Capital One

[Helpful1]

We got a pre-approved offer from Capital One right after our chapter 7 was discharged in October 2010. We got 0% interest for 10 months with a 3K limit and they raised it to $3500 after 6 months. It was unsecured. After the initial 0% period the interest rate was 24.99%. We never had a Capital One before. We also got a Household Bank with similar terms, except $500 limit and 16.99% after the initial 0%. We keep them for emergencies and always pay before the due date and have had to use them and carry a balance when my husband had a substantial pay cut.

[Mayo]

99/100 the "7-10 day message" is a "no."

I had good luck with a reasonable interest rate (low LOC - $600) with Orchard Bank. No one else would touch me with a ten foot pole. Orchard has my loyalty now.

--13for60

I applied for this card 2 weeks ago, thought it was time to try and get a 3rd card to rebuild my post 13 credit. Anyways I got the 7-10 message. The letter came and all they wanted was me to give my street address not my po box. I called and gave them this info, the operator said it would be another two weeks for my decision. I assumed this to be a no. Well I got an email today that said I was approved and my card is in the mail. I don't anything about the limits but I was pleasantly surprised.

[pamkev]

I applied for this card 2 weeks ago, thought it was time to try and get a 3rd card to rebuild my post 13 credit. Anyways I got the 7-10 message. The letter came and all they wanted was me to give my street address not my po box. I called and gave them this info, the operator said it would be another two weeks for my decision. I assumed this to be a no. Well I got an email today that said I was approved and my card is in the mail. I don't anything about the limits but I was pleasantly surprised.

Same thing with me and we got a 2,000 limit and if we keep payments current for 5 months a 1000.00 increase after that.

[ScoobaSteve]

I got my discharge letter on Monday. So I decided it was time to get a credit card and start rebuilding my credit. I read about the Barclay's card on here on Tuesday, so I went to their website and filled out the online app and got the "we'll let you know in 7-10 days" message. When I got home from work last night there was a Capital One Platinum Card offer in the mailbox. I just filled out their online app and got an unsecured card with a $500 limit, no annual fee, and no interest on purchases until May 2014. I'm pretty stoked about this. I still hope to get the Barclay's card as well. Then I will just buy 1 tank of gas on each card each month and pay it off. I really really want to get my credit rating back up, for some reason its really bothering me that it's now so bad. I had really good credit right up until I filed for bk.

[tobee43]

barclay has been the best for us, i think we up to over 8k in credit now at 12.99%. we started with orchard (horrible) because after 1 year then never reported to the cc agencies. when i called them they said yes we do and i know others on the forum say they do as well, but for some reason they were not reporting ours. PLUS it was $29 a year for the card with a whopping 300 limit. i think it was two years when i called and they said we will up your limit to $400 i said close the card.

barclay on the other hand did regular credit line increases without asking. we only use the cards for food and service type situations where i may need to stop payment and want to make sure i can. also we have the virgin american one and we use them to fly all the time so i earn points. cap one is another good one. they don't increase your lines often but they at least extend the credit and now they gave us 36k blank check for our car in about 2 seconds. we already got the package in the mail yesterday. so they have been excellent to work with as well.

we also just got wells fargo and then are 0% then go to i think about 14%. while i hate them i want their money lol! 3 is more than enough!!! but i have one more merrick with a 7k line. again, only because nowadays with our type of life situation i don't know when i need money for meds, or emergency anything. our bank is closed on saturdays. i have two kids out of state in case they need us for something, but then i pay them right off!

[blockhead]

3 years after discharge (including zapping 20K of Capital One cc debt) Capone approved a cc with 2k limit -ok

[Fallonedward]

2 Years after discharge and Cap One just upped my credit to $3,500

[overthedebt2]

I've had a great experience with CapOne. Received my unsecured regular platinum card with $3500 credit line less than 6 months after discharge. 0% interest for 6 months. I pretty much either carry a super small balance (>$100) or pay it off each month. They recently increased my limit to $4500. No intent on ever using it but nice to have a card for gas stations, rental cars, etc. Very pleased with them in general. Constantly get "How are we doing?" service emails, too.

[markdel16]

Just got approved for the unsecured platinum.. 22.9% variable, 0% int until 7/2014. $3000 credit limit. 8 months out of discharge. Cap One was one who was included in the discharge.

Quite surprising considering I got turned down by GE for a $1600 loan 2 days earlier. Need to replace a leaky skylight.

[CCsAreEvil]

I can't figure CapOne out.. I'm 4 years post BK. I started on the baby steps program. They increased the CL to $750 (one time over 2 years ago). It's been stuck there ever since.. They always decline my CL increase requests since. I will probably be closing it soon even though it may slightly hurt my AAoA. I don't get it because my DCU limit is $7,500.. and the balance is zero. My FICOs are currently within 693-715. Never paid any accounts late, etc since the BK.

CapOne will probably join my other "retired" account: Orchard Bank who refused to remove the annual fee. I will say that in the end, these accounts did help re-establish credit.

The odd thing is I still hold onto this $300 toy limit CC that was originally a Hooters card, but is now owned Merrick bank.. it has no AF so why close it?

[Jmaddox79]

Hello, Just got approved for the Cap One platinum... 24.9% variable, 0% for the first year. $2000 credit limit. Just got discharged last week.

[stevie2012]

We got a pre-approved offer from Capital One right after our chapter 7 was discharged in October 2010. We got 0% interest for 10 months with a 3K limit and they raised it to $3500 after 6 months. It was unsecured. After the initial 0% period the interest rate was 24.99%.

That's pretty close to my scenario. My Ch 7 was discharged 8/13. Right after that, I got a secured Visa with my credit union for $250, secured MC with Cap 1 for $200 ($49 deposit) and then pre approval came for UNSECURED card with Cap 1. I thought it was some joke. I applied anyway and they gave me 3K credit limit and then will be raised in 6 months, same terms as you described. I could NOT believe it. Rest assured, nothing is going on any of my cards that I cannot pay off in full every month.

[iswmle]

Fiancé was approved for an Everyday Cash Amex card and he is STILL using his Venture Visa. Capital One has been the one consistent credit card that he has used since he was 18 years old. His credit score is excellent, btw, and 750+, but he is so brand loyal. It is like my mother, with her USAA credit card... She also has excellent credit and a high income, could get a much better rewards program, but she has had her USAA card 10+ years and has no desire to change.

Honestly, I have been so pleased with Cap1 I have toyed with the idea of switching my banking to them. Their no fees approach is very appealing, if they had a brick and mortar where I live I would go to them in a heartbeat.

[IBroke]

I can't figure CapOne out.. I'm 4 years post BK. I started on the baby steps program. They increased the CL to $750 (one time over 2 years ago). It's been stuck there ever since.. They always decline my CL increase requests since. I will probably be closing it soon even though it may slightly hurt my AAoA.

Just FYI: Closing an account does not hurt your AAoA - only if you open a new account as "replacement".