Bank credit card

[Anonymous]

Is it easier to get approved for a new card if you go through your bank and get a bank credit card?  Or is it all the same? Over 2 years post BK.

[Anonymous]

If you have a good history with the bank, you may have better odds that way. It can also depend on whether it is a major bank or a local one. Have you checked any of the major prequalification sites like Cap1 or Barclays? Good luck.

[Anonymous]

Yeah I do have a cap one that I have had over a year now and they just upgraded it to Quicksilver.  I also have a Paypal credit account that they just increased the limit on.  I would like to add a third card just to increase my available credit (I don't have a high income so every little bit helps) but was stupid and tried for an AmEx a couple months ago and got denied.

i just switched from a small community bank to a large branch bank this week and wondered if the card approval process was any different.

My BK had nothing to do with personal loans.  It was because of a business where we had to personally sign for the loans.  The only things even on my BK were a Best Buy card that we paid off, and the business loan.  (I had to file BK to protect myself against further possible issues like the building lease or lawsuits from partner).  But evidently nobody cares why you went BK or who you burned, because I haven't noticed any different treatment. 

[Scupra]

What bank are you thinking of applying for? If you have one Cap1 card you are pretty much golden for another.

[Anonymous]

I decided to just get an Amazon store card instead.  I use Amazon all the time.  It stinks that the Amazon Visa is strict against All bankruptcies.  :-/

[Scupra]

Amazon store card is a great card, especially if you have prime and get the 5% CB. It is easier to to grow the card and is always a SP for CLI!

[DaveInAZ]

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@Anonymous wrote:

I decided to just get an Amazon store card instead.  I use Amazon all the time.  It stinks that the Amazon Visa is strict against All bankruptcies.  :-/

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Just to be sure folks understand - the Amazon Visa is issued by Chase, and Chase is is not bankruptcy friendly at all, usually an automatic decline if a BK is on your credit report. So if you see "issued by Chase Bank" on an application and have a recent BK, don't waste the HP inquiry on your CR.

Amazon store card is issued by Synchrony Bank (formerly GE Capital), and they are pretty forgiving of a BK, even if you include them in a BK.

[2peaches2oranges]

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@DaveInAZ wrote:

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@Anonymous wrote:

I decided to just get an Amazon store card instead.  I use Amazon all the time.  It stinks that the Amazon Visa is strict against All bankruptcies.  :-/

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Just to be sure folks understand - the Amazon Visa is issued by Chase, and Chase is is not bankruptcy friendly at all, usually an automatic decline if a BK is on your credit report. So if you see "issued by Chase Bank" on an application and have a recent BK, don't waste the HP inquiry on your CR.

Amazon store card is issued by Synchrony Bank (formerly GE Capital), and they are pretty forgiving of a BK, even if you include them in a BK.

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This is good advice. I filed/discharge a BK7 in 2009 and have applied with Chase twice (2014 and 2016), both times denied. I burned them with a WAMU turned CHASE CC in the BK7.

Today, I called for reconsideration of the CHASE SAPPHIRE denial from 2016.  The rep told me that the denial was based on the BK and that not enough credit has been established since the BK.

Since discharge in Dec 2009, I have had:

2 paid off car loans - Wells Fargo (open 2011 $11,000 high bal/paid off 2013) and BECU (open 2008 $18,000 high balance/paid off 2012)

1 paid off lease - Ford Motor Credit (open 2013 $10,000 high balance/paid in 2016).

1 current lease with American Honda Finance (open 2015 $8000 high balance/$2600 paid).

1 current lease with Lexus Financial Services (open 2016 $10,000 high balance/$0 paid - new 2016)

2 credit cards  - Capital One credit card (open 2011 $500.00 high balance/don't use much) and 1 credit union credit card (open 2013 $5,000 high balance/paid off monthly)

2 store cards - Nordstrom and Firestone (opened 2014 and 2011 respectively, don't use much).  

1 student loan - Sallie Mae (open 2012 $3,200 high balance/paid 2014)

I have also been pre-approved by underwriting for a mortgage of $300,000, in 2012 but did not find a house to buy after being outbid several times.  

I currently have a 717 TransUnion, 737 Equifax and 731 Experian.  

Been with same employer for almost 15 years, income $90K. 

Same address for 5 years.

Since the denial by Chase, I added salt to the wound by applying to AMEX EveryDay today.

Another automatic denial due to BK. They denied in 2014 for the Costco AMEX too.

I burned them on the BK7 with a DELTA AMEX for $25K.

But in my little spree today, I got the Discover It approval for $11,500 and Capital One Quicksilver for $10,000. These were recomendations with a good chance on CreditKarma or CreditSesame.

I am not sure what they are looking for but I have learned my lesson to stay away from Chase and AMEX. Not worth the hard pulls!