Approved for $2,000 Captial One card just days after discharge

[TXskyblue]

Chapter 7 was discharged 3 days ago.

Went on Capital One's preapproval website and they preapproved me for a card with a $19 annual fee. That is probably the lowest AF I've ever heard of, but I still don't like AFs so I declined. Looked around their website and they listed a $0 AF student card that google told me had pretty loose application standards. Although I'm middle-aged, I actually am a student so I decided to apply.

Instant approval, $2,000 limit. It's the Journey Student Reward card, 19.8% APR, 1.25% cash back on all purchases. Oddly, the application never asked me if I was a student. It would appear that anyone could apply.

I'm a bit surprised at both the instant approval and the relatively high credit limit. $500 territory was what I was figuring. My income probably played a part in determining the $2,000 limit.

Good and surprising news! Perhaps rebuilding won't be as tedious as I thought it would be.

[pamkev]

Congrats. I got the same offer and now after 5 months my CL was increased to 3000.00

[magic13]

Chapter 7 was discharged 3 days ago.

Went on Capital One's preapproval website and they preapproved me for a card with a $19 annual fee. That is probably the lowest AF I've ever heard of, but I still don't like AFs so I declined. Looked around their website and they listed a $0 AF student card that google told me had pretty loose application standards. Although I'm middle-aged, I actually am a student so I decided to apply.

Instant approval, $2,000 limit. It's the Journey Student Reward card, 19.8% APR, 1.25% cash back on all purchases. Oddly, the application never asked me if I was a student. It would appear that anyone could apply.

I'm a bit surprised at both the instant approval and the relatively high credit limit. $500 territory was what I was figuring. My income probably played a part in determining the $2,000 limit.

Good and surprising news! Perhaps rebuilding won't be as tedious as I thought it would be.

What are your credit scores? They must be better than you think. How was your credit history up until you filed Chapter 7, I think those are the factors they look at more than your quoted income because they can't instantly verify your income.

[angel7821]

Cap One seems to be very BK friendly. I also got approved for 2 cards 5 weeks after discharge from Cap One.

[TXskyblue]

What are your credit scores? They must be better than you think. How was your credit history up until you filed Chapter 7, I think those are the factors they look at more than your quoted income because they can't instantly verify your income.

My credit leading up to chapter 7 was pristine for years until I suddenly stopped paying all my credit cards because I couldn't afford to any more. The only issue I had was very high utlization.
On the day of filing, my credit was terrible. At least 10 credit cards had not been paid for more than 6 months. Most probably charged off.
Today, a few days post-discharge, I checked credit karma. It's a FAKO, but it says 707. I highly doubt my FICO is actually 707 with a fresh bankruptcy, but that's what it says.
Credit sesame last updated a month ago and its FAKO says 641.

[magic13]

My credit leading up to chapter 7 was pristine for years until I suddenly stopped paying all my credit cards because I couldn't afford to any more. The only issue I had was very high utlization.
On the day of filing, my credit was terrible. At least 10 credit cards had not been paid for more than 6 months. Most probably charged off.
Today, a few days post-discharge, I checked credit karma. It's a FAKO, but it says 707. I highly doubt my FICO is actually 707 with a fresh bankruptcy, but that's what it says.
Credit sesame last updated a month ago and its FAKO says 641.

Credit Karma is running Transunion and Credit Sesame is running Experian. While they may not be totally accurate, they are in the ballpark. You didn't get those credit card acceptances for nothing when others are being denied or offered low low amounts. Try Quizzle, see if it is close with Credit Sesame, they are running Experian too

[TXskyblue]

Thanks for the heads up about Quizzle. Hadn't heard of it, but I signed up and my Quizzle FAKO is 630 which is close to my Credit Sesame FAKO of 641.

I looked at my credit report and my mortgage is still reporting even though I'm doing a stay and pay and did not reaffirm. Also, two credit cards are still reporting as open. One has a 10K limit and the other a bit over 5K. These two cards were the ones I thought may survive my BK. I just went out to fill up my car and both cards worked at the pump - did half a tank with each card. No way to know if they'll stay open, but they're open now.

I think I won't push my luck. Will wait for statement to cut and not use them again until then.

[ccmisery]

They list my Transunion 688, Vantage Score 538, I just discharged chap 7 today. I read you need to give it 30 days before everything updates, but I still have over 25 years of credit history on my credit report with one of my cards, going back that far my score actually went up after I filed 7.