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New Member
ColoradoKid
Posts: 7
Registered: ‎04-18-2013
0

Chapter 13 discharged and need some advice for CC's

Hello,

 

  I filed chapter 13 in May 2010, I discharged from 13 last month.  I'm currently a 709 ex score, dunno what my TU and EF is.  I have a income just over the six digit mark.  I got a low limit secured card in Oct of 2010 that I maintained and is still active.  I closed on my house in Oct 2011 and my mortgage is in good standing.  I had no late payments on a car loan that I paid off early in Feb. of 2012.

 

With all that I applied for a Chase United Explorer card about a week ago and was turned down.  They said that my lack of stability with unsecured debt since my bankruptcy was the sole reason they declined me.  I would like a some advice about where to go from here.  My secured card and over draft protection is the only unsecured credit that I have, it's not enough to bail me out or really show that I can handle a good CC.

 

Anyone with some experience in these matters that can put forward some input, it would help me out a lot.

 

Thanks,

ColoradoKid

Frequent Contributor
shols44
Posts: 398
Registered: ‎11-03-2012
0

Re: Chapter 13 discharged and need some advice for CC's

Welcome Colorado kid. 

 

First things first, do not apply to BOA, Chase, Discover, Amex , wellsfargo or any other routine "prime" only bank. What was your score when Chase denied you?

 

Have you reviewed your three reports since your discharge? If not, do that and make sure everything is correctly reporting. 

 

If you are member of a credit union go talk to them first and see if they will offer anything. 

 

Now as for national banks that will give you a look:

 

Capitalone: Apply for the platinum or average credit cash rewards. If they don't approve you go for their secured card. I think you will easily be approved for an unsecured product. They will pull all three reports. 

 

Barclays: Apple financing, NFL Visa or Rewards mastercard. Be preparred to "recon". You will definitely get approved unless you really throw red flags at recon. 

 

GE: Walmart card or other store card. Not a sure deal but certainly worth trying since you are several years out of BK. 

 

Comenity: Shopping cart trick-No hard pulls. 

 

You only need three cards to optimize your credit file so capone, barclays and your current card should do. 


Starting Score: 501
Current Score: 706 EQ,TU 689,EX 686
Goal Score: 720

New Member
ColoradoKid
Posts: 7
Registered: ‎04-18-2013
0

Re: Chapter 13 discharged and need some advice for CC's

My score when Chase pulled it, it was 717.  Perhaps I was misleading with the time frame of BK.  I filed in 2010.  I was only discharged a month ago.  My chapter 13 was a 100% repayment, it took me till February of this year to pay it off.  Got my discharge paper work a few weeks ago.  Dunno if that changes things???

Frequent Contributor
shols44
Posts: 398
Registered: ‎11-03-2012
0

Re: Chapter 13 discharged and need some advice for CC's

Have your reports reflected your discharge? If so I don't see how you do not get approved for the cards I mentioned with a 717 Fico. Barclays will pull TU as will GE. Capone will pull all 3. 

 

Also don't forget about your local CU. But talk to them first as to what their policy is before you join and apply. Let us know if and when you apply for above, how it goes. Remember Barclays often requires recon even for perfect credit do be prepared for that. 

 

 


Starting Score: 501
Current Score: 706 EQ,TU 689,EX 686
Goal Score: 720

New Member
ColoradoKid
Posts: 7
Registered: ‎04-18-2013
0

Re: Chapter 13 discharged and need some advice for CC's


shols44 wrote:

Have your reports reflected your discharge? If so I don't see how you do not get approved for the cards I mentioned with a 717 Fico. Barclays will pull TU as will GE. Capone will pull all 3. 

 

Also don't forget about your local CU. But talk to them first as to what their policy is before you join and apply. Let us know if and when you apply for above, how it goes. Remember Barclays often requires recon even for perfect credit do be prepared for that. 

 

 


Thanks for the input, I did have a conversation with a guy from CapOne via online chat after I was told by Chase that I was a long way off from qualifying.  That man from CapOne said that since I was declined for a card within the last three months that the only thing that I can get is a secured card with them.  So my plan for that avenue was to wait the three months and try to apply with them.  My secured card I got is with my CU that I have my checking/savings with.  I will have to go down there and speak with a loan officer. 

Frequent Contributor
shols44
Posts: 398
Registered: ‎11-03-2012
0

Re: Chapter 13 discharged and need some advice for CC's

Capone reps can be notoriously uninformed. Did you app with capone and get denied? If not, with a 700+ score, you it is highly unlikely you dont get either the cash rewards or platinum. You can try using their prequal tool to see if anything pops up. 


Starting Score: 501
Current Score: 706 EQ,TU 689,EX 686
Goal Score: 720


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