Add Captcha
Enter the text shown above:
Added August 3, 2011 from: Joe Taylor Jr.
Rate now
Average Rating
Answered By Joe Taylor Jr.:
Congratulations on surviving your first year after bankruptcy. It's a hard process to get through, but it sounds like Capital One's "second chance" program helped you re-establish your credit. Now, it's time to decide how to round out your credit card portfolio.

At this stage of the credit rebuilding process, you don't want to damage your credit score by completing too many applications. Every new offer you submit generates a "hard pull" against your credit report, which can make banks worry that you're trying to boost your borrowing too quickly. That's why it's important to look for credit cards that fit your profile.

If you really just want to extend your overall credit limit or reduce your interest rate, consider talking to Capital One. Since you already have an account there, your year of on-time payments could qualify you for a second credit card with enhanced features or with a lower APR. Capital One even lets you check their website for pre-qualified offers without requiring that hard pull.

1 Responses to "I had a Chapter 7 discharge a year ago. Capital One gave me zero percent interest for 12 months. Should I apply for another card now?"
  1. James August 03, 2011 at 6:23 pm

    Hello, I have a six or seven year discharged chapter 7. I have a secured Orchard card and a regular checking account. I would like a regular credit card. Last time I checked I had about a 680 Transunion score but not sure about Equifax. Any advice


Leave a Comment
Related Questions:
Most Recent Questions:
Most Popular Questions:
Related Articles:
How to find the best Cash Back credit card?
Top articles from Joe Taylor Jr.