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Old debt from Cap one charged off 6 years ago. Would I get approved for new Cap one card?
So about 6 years ago I ran into quite a bit of financial hardship and trashed my credit score. I'm finally back into the 660's on FICO bankcard 8 score and I'm looking to get an unsecured card to help continue boost my credit score. I'm in the process of purchasing an Engagement ring and don't want to screw up any potential financing/payment plans for that. In any case I'm now financially secure and haven't missed any payments in over 3 years on anything (score was in the mid/low 500's two years ago) and I'm ready to start having a decent credit line.

So back to the meat of my question. I had a Cap one platinum card back in 2010 when I experienced the hardship and had $700 charged off and in collections. I could easily pay the debt now but I've been advised to let it fall off my credit report next year since paying it would reset the 7 year clock. Now I also have about another $1000 in charged off credit from two other cards about to fall off at the same time next year. Credit Karma is telling me my odds are good to get 3 various Cap one cards. I'm wondering if I have any chance of that happening with the charged off debt from 6 years ago? I would rather not put a hard inquiry on my credit report if I'm only going to be rejected.

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Congrats on the upcoming Engagement.


Few things first, just in case you weren't aware, that scoring model goes upto 900 instead of normal 850... Paying a collection dose NOT restart the 7 year reporting period, what it "might" restart is the Statue Of Limitation of being sued for that debt, that's if you took ownership of the debt and or enters a firm payment agreement then don't or stop paying it... Do NOT give the CK's approval odds any consideration when applying, if any end results matched? It's pure coincidental, as saying goes, "even the broken clock gets time right twice a day"... CapOne pull all three bureaus each time you apply, so you get one inquiry with each bureaus rather than the norm of just one.


CapOne is very forgiving recently, although approval isn't guaranteed but they won't hold your past with them against you, I would use their pre-qualify page and see what comes up for you... Following is some of their terms and conditions regarding applying their cards...



  • I understand that I am not eligible for this offer if:
  • I have applied for a Capital One credit card 2 or more times in the last 30 days.
  • I have 5 or more open credit card accounts with Capital One.
  • I have a past due Capital One credit card account.
  • I am over my credit line on a Capital One credit card.
  • I have had a Capital One credit card that charged off within the past year. <-----------
  • I have a non-discharged bankruptcy (one that is still unresolved).

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