I like your chances, having that high masters GPA will certainly show you turned things around. My interviewer pointed out how bad my first undergrad semester was and when I told him I didn't plan on going back to that state, he told me he believed me and I was later accepted at that school (I have a high master's GPA) . It'll give you a great interview answer I'm sure, you always want to be positive. If you have to talk about something negative it's always best to spin it in a positive fashion that's true, like how you've been working really hard and have come so far from that low point.