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169 Contributions 318 People Helped Top Contributor

Member Since: March 2017

Most Helpful Contribution

Capital One® Platinum Credit Card

May 18, 2018
$3000 Credit Line Increase at 5 Months!!
Helpful to 54 out of 59 people

This is information that I believe will help you obtain a greater CLI than promised by Capital One on their Platinum Card.  Capital One will notify you by email shortly after opening the MasterCard that they will give you a $500 credit line increase after five months of responsible account activity.  I had an initial credit line of $3000.  At five months with a ZERO balance, Capital One increased my credit line as promised to $3500.  My FICO score averaged 698 at the time.  In comparision, my wife was given a $2000 initial credit line with a promise of a $500 credit line increase at five months.  At five months my wife's balance was $1500 and her credit line increase was $3000 for a total credit line of $5000!  Her average FICO score at the time was 670.  I have read in other threads that Capital One will give you a greater credit line increase after five months IF you are carrying a high balance.  My theory is because Capital One and other creditors prefer a 30% max on usage, Capital One increased her credit line to reflect just that ($1500 is EXACTLY 30% of $5000).  Okay, here are our particulars...we are 20 months fresh from a Chapter 7 BK, four hard inquires in the last 12 months, always pay-off statement balances each month, haven't been late on any accounts since BK, more than $100K in combined student loans, and a combined adjusted gross income of $48K.  Hope this helps!

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Capital One® Platinum Credit Card

May 18, 2018
$3000 Credit Line Increase at 5 Months!!
Helpful to 54 out of 59 people

This is information that I believe will help you obtain a greater CLI than promised by Capital One on their Platinum Card.  Capital One will notify you by email shortly after opening the MasterCard that they will give you a $500 credit line increase after five months of responsible account activity.  I had an initial credit line of $3000.  At five months with a ZERO balance, Capital One increased my credit line as promised to $3500.  My FICO score averaged 698 at the time.  In comparision, my wife was given a $2000 initial credit line with a promise of a $500 credit line increase at five months.  At five months my wife's balance was $1500 and her credit line increase was $3000 for a total credit line of $5000!  Her average FICO score at the time was 670.  I have read in other threads that Capital One will give you a greater credit line increase after five months IF you are carrying a high balance.  My theory is because Capital One and other creditors prefer a 30% max on usage, Capital One increased her credit line to reflect just that ($1500 is EXACTLY 30% of $5000).  Okay, here are our particulars...we are 20 months fresh from a Chapter 7 BK, four hard inquires in the last 12 months, always pay-off statement balances each month, haven't been late on any accounts since BK, more than $100K in combined student loans, and a combined adjusted gross income of $48K.  Hope this helps!

Capital One® Platinum Credit Card

Sep 06, 2017
Second Chance after CH 7 BK
Helpful to 27 out of 31 people

My Chapter 7 bankruptcy was discharged in July 2016, included were two Capital One credit cards totaling more than $9K.  I reaffirmed my auto loan balance of $11K and a $1,500 MC (obtained in 9/2015) with my credit union remained open.  I use the MC all the time and pay it off at the end of each month building a two-year history of no late payments along with my auto loan.  After reading dozens of posts about CO issuing credit cards to applicants who included CO in their BK, and were relatively fresh out of bankruptcy, I felt more confident in applying for a credit card with CO.  I completed the pre-qual online and a CO Platinum MC was recommended, I moved forward and applied.  My 60 second result was CO will notify me by mail of their decision within 7-10 days.  Immediately I thought DENIED!!!  Four days later CO's Fraud Department called me to verify that I indeed applied for a credit card account and that I would receive notification of their decision again in 7-10 days by mail.  I called their application status phone number three days later to find out that I was APPROVED!  I anxious awaited my new card to reveal my credit line.  Four days later II received an email that my card was on its way, the next day it had arrived.  To my surprise a credit line of $3K was granted to me with the possibility of a credit line increase in 5 months!  Living on cash and paying off my MC at the end of each month since filing my BK in March 2015 has taught me to budget wisely, never carrying a credit card balance.  I hope this information helps others in making the decision whether or not to move forward in applying for a Capital One credit card.

My credit scores at the time of application in August 2017 were EQ 699, TU 684, and EX 671.  Salary at $54K with no mortgage, one state tax lien currently making payments.

Costco Anywhere Visa® Card by Citi

Aug 14, 2018
Helpful to 28 out of 34 people

Do you know how to read? Costco accepts ALL VISA credit cards regardless of the bank that issues them. Furthermore Costco accepts ALL debit cards! The interest rate is commensurate to your credit profile, so fair credit equals high interest. Remember, you agreed to the terms and agreements BEFORE you accepted the card. Why are you complaining again?!!!

Merrick Bank Double Your Line™ Visa® Credit Card

Aug 02, 2018
Helpful to 12 out of 14 people

"They over the limit and late charge fees kept me in the cold ground". Wow, you just admitted to being an irresponsible card holder! Sure, blame it on Merrick and don't take responsibility for YOUR actions!

Capital One® Venture® Rewards Credit Card

Sep 07, 2018
Helpful to 3 out of 3 people

I went for it because the online pre-qual came back as pre-approved, I applied with FICO's averaging 660 (lower than the OP). I've had a SAVOR Card with them for one year PIF each month. I received the 7-10 day notification, under further review after I hit submit. After six days I called and was APPROVED for a SL of $15k, so YES it is possible! Furthermore, I'm 26 months out of a BK7!!!

Capital One® Venture® Rewards Credit Card

Sep 05, 2018
Helpful to 3 out of 3 people

Finally, some who acknowledges that they were aware of the high interest rate on a credit card before accepting it! Stay in your lane and you will rebuild your credit profile relatively quickly. Capital One should give you an unsolicited credit line increase (CLI) after 5-6 months, then at 12 months you can successfully request one online. Overall at 24 months post BK, you'll realize more credit opportunities. Furthermore, Capital One has a great auto financing program with extremely competitive interest rates.

Two cards I would recommend 12 months post BK are Target REDcard and Discover it. These are both easy qualifying cards for post BK applicants and offer frequent CLI's if used often and paid in full monthly. Not to mentioned the Target REDcard has the potential of being converted into a MasterCard with modest rewards. Manage your credit profile responsibly and within a few years you'll feel the affects of bankruptcy fade away. Good luck!

Costco Anywhere Visa® Card by Citi

Aug 14, 2018
Helpful to 3 out of 3 people

Based on your post, it sounds like you've been applying for cards like crazy. Chase Bank has an unpublished "5/24 Rule," I imagine Citibank has something similar. Bottomline you're probably high risk. I'd like to see your credit profile, most likely plenty of hard inquiries and new accounts in recent years.

Merrick Bank Double Your Line™ Visa® Credit Card

Jun 21, 2018
Helpful to 15 out of 19 people

Why are you still bound to mailing checks?!! Fraud is MUCH GREATER when you have a check with all your account information floating around than a payment made via mobile app or online. Furthermore with electronic payments you have a record to prove payment was made and it will post within ONE business day. With a check what proof do you have?!! If you are savvy enough to post here on Credit Karma, you have NO solid reasoning for not making payments electronically.

Merrick Bank Double Your Line™ Visa® Credit Card

Jun 21, 2018
Helpful to 5 out of 6 people

Having this card may have helped your FICO more than anything. I'm not certain why you would have to make three payments in three weeks. Either you're motivated to pay your account in full before it cycles, or you're simply being pretentious and can't afford to. You need to exercise patience, and stop acting in haste. Closing the account most likely lowered your FICO score, unless you're being untruthful and Merrick closed it for you! Deja Vu lol

Merrick Bank

Jun 21, 2018
Helpful to 2 out of 2 people

Your rant just explained the problem. Utilization at max, then making a payment in hopes of freeing up credit so that you can max it out again! The problem is NOT Merrick, I think you will find the answer next time you look in the mirror. Live within your means, live better!

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