credit application

Posted Thu July 28, 2011 9:38 pm, by anthony h. written to Capital One Financial

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I am writing in response to a letter I received informing me I was denied for a capital one credit card. The reference number on the letter is 11914910840080.

I applied for credit shortly after my discharge from bankruptcy. I applied not realizing that my credit report did not accurately reflect all of my debts being discharged. I have corrected all 3 reports to the point where there are only a few errors. With that being said My credit score has gone up about 100 points since you pulled my credit.

I do have several inquiries. I have been shopping for an auto loan and have also been putting in apps with creditors to see who would give me a second chance. The way I see it a short time ago (2008) a lot of major banks were on the ropes and in danger of collapse or being bought out. The taxpayer was their to bail them out. I would like a second chance as well.

I fully understand that to not repeat the mistakes that led up to the crisis in 2008 you have to manage risk. Yes I have been bankrupt. But on the other hand I am largely debt free. I have an HSBC credit card that I have had for 3 months with a $300 limit. This card is at a zero balance and in good standing.

As you know, I cannot file bankruptcy again for another 7 year legally, nor would I ever want to. I have been at my current job for 2 years and have established job security. Our business is funded by medicaid dollars so it does not rely on economic conditions.

Considering overall I am debt free, I have established some credit since bankruptcy and I have secure employment I believe this makes me a good risk to your bank.

I would ask that you overturn your denial of my application. I would be willing to start at a low credit limit and prove myself with your bank by exhibiting positive payment history and responsible use.

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Re: credit application by Lisa H. Posted Fri July 29, 2011 @ 5:16 PM The bailout and second chances really isn't relevent. The issue is if you are a good risk, and on paper it doesn't look like it. Please don't take this personally, I'm not either. Being debt free is great, but not really indicative of risk level, you haven't had enough time to really establish credit again after a major "Ops". And seeing all the inquires, esp. if you are turned down, isn't helping. The best thing you could do is to slow down your applications. It's like you just got out of the fire and are looking to jump back in, leading creditors to probably wonder if you have had time to learn anything. Reply thanks by anthony h. Wed August 3, 2011 @ 11:26 AM Re: credit application by RedheadwGlasses Posted Fri July 29, 2011 @ 2:11 PM YOu went through bankruptcy and now you want more credit cards? Did you not learn anything from your previous mistakes? This is just... wow. Reply wow... by anthony h. Wed August 3, 2011 @ 11:13 AM Re: credit application by Alicia W. Posted Fri July 29, 2011 @ 11:29 AM if you have a bankruptcy showing on your credit then it's doubtful that you will get a credit card anytime soon. if you really want one though you might try a secured credit card from a bank. Reply Thanks by anthony h. Wed August 3, 2011 @ 11:16 AM