cancel
Showing results for 
Search instead for 
Did you mean: 

Bankruptcy Friendly Credit Cards Pt.2

Community Leader
Valued Contributor

Re: Bankruptcy Friendly Credit Cards Pt.2

Thanks, Scupra for starting a new BK friendly CC thread. Smiley Happy

 

Yeah, is Discover all over the place. I've seen folks post they were approved 1 yr post BK, I apped almost 4 yrs post BK7 w/668 FICO and they flatly rejected me, recon a waste of time.

 

I wonder about Bank of America/FIA card services? They're generally not BK friendly, and very, very touchy on any derogs with them. I want a Fidelity Amex for the 2% rewards when credited back to a Fidelity account, I have an IRA with them and would get the rewards as IRA contributions. I read Fidelity Amex threads in the CC forum and have seen folks rejected for a CO 13 yrs ago when they were a student in college! I have a BoA CC included in my BK7 and everyone says don't waste a HP apping, no way they'll approve me. I've actually been considering apping for their secured card to see if that can get me back in their good graces even though I'm way past needing a secured card to rebuild. But I'm not sure it's worth the effort for just one card, nothing else I want from BoA/FIA.


Fico 08: 720/721/719 TU/EX/EQ
Message 11 of 952
Moderator

Re: Bankruptcy Friendly Credit Cards Pt.2

I have Citibank info - I tried 6 years post d/c for a Citi Diamond Preferred and they declined me. When i called for a recon i was told that it is auto declined until 7 years. They said the rest of my profile was fine. it was only the Bk.

 

Tried Chase at about 4 years post d/c IIRC and Chase said no dice until 10 years. To be fair, I had quite a bit IIB with Chase in my Bk. I still have a Chase savings and checking and auto loan, no issues. But no cc's.

Message 12 of 952
Contributor

Re: Bankruptcy Friendly Credit Cards Pt.2

I can vouch and say that if you are ok with a discover secure IT card i was approved 1 month after discharge. and it does graduate to a unsecure card after a year of good history.

Filed BK7: 09/2014 - Discharge 01/2015
632 EQ FICO 06/2016
636 TU FICO 06/2016
638 EX FICO 06/2016
$4k NFCU Cash Rewards | $5k NFCU LOC| $400 Discover IT Secured| $3k Macy’s CC | $1200 Firestone CC | 2 $500 Cap1 Quick Sliver CC’s | $1500 PenFed Thirfty Line of Credit | $200 Express CC | $200 NY & Company CC | $200 The Limited CC
Message 13 of 952
Community Leader
Senior Contributor

Re: Bankruptcy Friendly Credit Cards Pt.2

Dave: no problem! The other thread was kind of old but I did like the idea of it. I have not given Bank of America a thought. When I was very young I had a CO for about $500 with them. 

 

StartingOver: Thanks for the Citi info! I had no idea on that one Smiley Happy 

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
730 EQ FICO 11/2017
750 TU FICO 11/2017
735 EX FICO 11/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 14 of 952
Community Leader
Senior Contributor

Re: Bankruptcy Friendly Credit Cards Pt.2


Alexanderia wrote:

I can vouch and say that if you are ok with a discover secure IT card i was approved 1 month after discharge. and it does graduate to a unsecure card after a year of good history.


Are you able to apply directly for Discover IT secured? 

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
730 EQ FICO 11/2017
750 TU FICO 11/2017
735 EX FICO 11/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 15 of 952
Established Member

Re: Bankruptcy Friendly Credit Cards Pt.2

I don't post much, but I enjoy reading threads like this one.  After BK a lot of people don't know where to turn for rebuilding and threads like this really helped me with which cards/companies to stay away from.  My rebuild purpose was to get a home loan, now that I have that I'm just shooting for 700 scores like everyone else.

 

Here's my post-BK story with Discover and Chase:

 

Last year, January 2014, I applied for and was declined for the Discover IT.  When I called to recon I gave my very convincing reason for BK, was put on hold for almost 5 minutes, but still denied.  The rep told me the BK wasn't an issue, just they wanted to see more tradeline variety.  She advised me to get a credit rebuilder loan and to reapply after a year.  My BK was discharged Oct 2011 and at the time of this Discover application I only had one cc, a Cap 1 Platinum with $2,000 limit opened May 2013.

 

I never got the rebuilder loan.  After the Discover denial I paid off my car loan and got a Target store card.  The car loan dropped my score for a moment while the Target card increased it.  Closed on mortgage in July 2014 with mid-score at 661.  Then immediately increased CL on Cap 1 to $4,000 and approved for Barclay $1,300.  It took a while for the mortgage to report, but I'm pretty sure that and my credit card usage finally helped me get approved for Discover IT in March 2015, $1,400 limit.  I had to take the counteroffer though which has no 0% intro period and is 22.9% apr.  High, but I'm in the door right?

 

I'm done applying for anything for probably the next 2 years.  Just gonna continue nurturing what I have through CLI's, PC's, and utilization.  I have absolutely no interest in applying for any Chase or Citi cards as so many don't get approved.  March 2015 I accidentally applied for the Chase Amazon card when I was simply trying to get the Amazon store card and Chase denied me.  The only reason for denial on the letter was bankruptcy.  I didn't recon.

 

I am interested in applying for AMEX far down the road.  We'll see how that goes when the time comes.

 

Good luck to all on your rebuilds!  It will be so awesome when our BK's fall off!


BK7 DC 10/2011 | 1st Mortgage 7/2014
Save the best for last!
Message 16 of 952
Contributor

Re: Bankruptcy Friendly Credit Cards Pt.2

Nope it's not advertised at all. I actually read on a money blog about it. What you'll have to do is apply for the actually unsecure Discover IT card and they will counter offer the secure card. I have heard people not get the offer and then that's when you call the recon line and ask about it. It's just like the unsecure card with rewards and all and NO Annual fee!! :-)
Filed BK7: 09/2014 - Discharge 01/2015
632 EQ FICO 06/2016
636 TU FICO 06/2016
638 EX FICO 06/2016
$4k NFCU Cash Rewards | $5k NFCU LOC| $400 Discover IT Secured| $3k Macy’s CC | $1200 Firestone CC | 2 $500 Cap1 Quick Sliver CC’s | $1500 PenFed Thirfty Line of Credit | $200 Express CC | $200 NY & Company CC | $200 The Limited CC
Message 17 of 952
Community Leader
Senior Contributor

Re: Bankruptcy Friendly Credit Cards Pt.2

I applied for the unsecured IT card w/ an EQ FICO of 680 at 22 months post d/c. Declined and not offered secured card. Called to recon 4 different times and nothing. I'm not sure what makes them offer the secured version to some but not all.
Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
730 EQ FICO 11/2017
750 TU FICO 11/2017
735 EX FICO 11/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 18 of 952
Senior Contributor

Re: Bankruptcy Friendly Credit Cards Pt.2


Scupra wrote:
I applied for the unsecured IT card w/ an EQ FICO of 680 at 22 months post d/c. Declined and not offered secured card. Called to recon 4 different times and nothing. I'm not sure what makes them offer the secured version to some but not all.

Weird...

 


TRC_WA wrote:

 

AmEx denied 55 months post filing 6 months post discharge... approved $5k revolver 68 months post filing 19 months post discharge.

 

Same with Discover.

 

 


Discover approval was $1500 and is now $2k... EQ was about 690.  My lowest limit but I'm in the door.



2015 Dodge Challenger RT @ 4.49% opened: 1/15 $5k in student loans opened: 3/01 AAoA: 5.5 years
myFICO 5-5-16 EQ: 730 EX: 738 TU: 733 / CC UTI: 32% / Gardening since: 3-25-15
Message 19 of 952
Contributor

Re: Bankruptcy Friendly Credit Cards Pt.2

Yea that is weird. I just applied and they denied me for the unsecure but then asked if I wanted the secure. You didn't burn them in BK right?

Filed BK7: 09/2014 - Discharge 01/2015
632 EQ FICO 06/2016
636 TU FICO 06/2016
638 EX FICO 06/2016
$4k NFCU Cash Rewards | $5k NFCU LOC| $400 Discover IT Secured| $3k Macy’s CC | $1200 Firestone CC | 2 $500 Cap1 Quick Sliver CC’s | $1500 PenFed Thirfty Line of Credit | $200 Express CC | $200 NY & Company CC | $200 The Limited CC
Message 20 of 952