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Bogdan Roberts, Credit Cards Moderator
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Yes, you can get a Capital One credit cardafter Chapter 7 bankruptcy. A good option is the Capital One Platinum Secured Credit Card, thanks to its $0 annual fee and the potential for a credit limit higher than your deposit.
Most importantly, having a Chapter 7 bankruptcy on your credit report doesn’t make you ineligible. The only stipulation is that your bankruptcy case must be resolved by the time you apply for the Capital One Platinum Secured Card. Applicants must also be at least 18 years old, have a Social Security Number, and a checking or savings account to be eligible for approval.
Things to know if you have a Chapter 7 bankruptcy:
Most of the credit card options you’ll have after a Chapter 7 bankruptcy will besecured credit cards. Secured credit cards require you to pay a refundable security deposit that sets your credit limit. Despite the deposit requirement, secured credit cards are one of the easiest ways to rebuild your credit after bankruptcy.
However, waiting a few months after a bankruptcy discharge and pulling your credit report before applying is a good way to increase your chances of approval for an unsecured card, too. You can get a free credit report along with your score for free,right here on WalletHub.
This answer was last updated on 01/09/24 and it was first published on 03/12/21. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
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marcy_walsh, Member
@marcy_walsh
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I read through the small print and you can get a Capital One card after Chapter 7 bankruptcy UNLESS you charged off a Capital One card in your bankruptcy. In that case you're not eligible until a year after charge off.
This answer was first published on 12/12/19. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
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been almost 2 years since discharge and still unable to get card from capital one.
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Katie Duress, Member
@katieeduress
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well I am here to tell you that I found bankruptcy approximately 2 to 3 weeks ago and I charged off to capital one cards the quicksilver and the platinum but I received a credit wise email today saying that I had new eligibility criteria so it said that I was very good chances of being approved of capital one unsecured platinum card so I went ahead and applied and got approved for the $300 credit limit unsecured and I just found bankruptcy couple weeks ago in credit capital one was on my bankruptcy matter of fact when I download the app it shows my new account and it also shows my two charge off account under my capital one my new car was just shipped out so you can get a capital one card on secured immediately after bankruptcy obviously in certain case
This answer was last updated on 09/15/22 and it was first published on 05/24/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
People also ask
How long after a bankruptcy will my credit score go up?
It can take anywhere from one month to two years for your credit score to go up after bankruptcy. Maintaining positive habits for at least a year could even bring your score up to the "fair" range. A recent study found that within a year of filing for bankruptcy, 43% of individuals had a credit score of 640 or higher. Within two years, 65% of people had a score above 640.
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How long after bankruptcy can I get a credit card?
You can get a credit card as soon as your bankruptcy is fully discharged. Once the bankruptcy is finalized, you can start exploring options such as secured credit cards in order to begin rebuilding your credit. Though some secured cards won’t approve people with recent bankruptcy, many will, such as the Capital One Platinum Secured Credit Card (see ) and the OpenSky® Plus Secured Visa® Credit Card.
If you filed for Chapter 7 bankruptcy, you should be able to get a secured card as soon as your bankruptcy is discharged....
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Can anyone tell me what will happen to my credit score after chapter 7 discharge?
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