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So I applied for an unsecured card after getting a solicitation from NFCU in the mail, inviting me to apply. Was denied. Asked for reconsideration - denied.
Then I applied for a secured card - Denied.
- Lots of money in savings and checking
- High income
- 10,500 unsecured credit with 1% util
- Credit Karma equifax = 691
- FICO 8 equifax = 668
- BK7 discharged 8 months ago
- Perfect payment history before and after BK
- Did not burn them
Why do they hate me?
yep. Credit Unions get WAY too much praise on this forum. I was a member of Navy Federal for 6 years. USAA gave me better offers back in those days. just sayin so you don't feel as though you're alone here. There's thing a credit union will shoot down for instantly. I'm not sure exacty what that entails though. its frustrating.
I noticed you didn't have Transunion score listed. Here's why I ask. My transunoin score is 100 points lower than all my other scores! Thats going to be a huge issue if it doesn't go back up after my discharge (tomorrow). May as well check your transunion, maybe?
- just to clarify, I'm no expert at ALL. In fact, I'm pretty much an idiot with credit, and the do's and don'ts. for example, I tried a capitol one auto loan pre approval application 2 days before my discharge out of impatience. (tomorrow is the official discharge). yeesh. I was denied. No credit union will touch me for auto loans. I asked - or credit cards, othere than secured cards. Although a secured card is the best way to start back to recovery so I've been told.
the point is, check, and re-check your records with an advisor and keep positive. - Hoping your scores go up, and no more denails. best of luck sir.
I believe that you have to wait a year past bankruptcy. I think I read that somewhere on here.
@Anonymous wrote:I believe that you have to wait a year past bankruptcy. I think I read that somewhere on here.
You're correct - I don't remember the exact threads but several people have pointed that out. As with anything else in credit, it's not a 100% hard-and-fast rule, as I've come across one or two cases of people being approved sooner, but one should indeed take this as a general rule of thumb and wait a year, or longer, after filing bankruptcy at least and possibly after BK discharge, before applying for new credit. In my case, I waited nearly 13 months after my BK discharge before applying for my Cap 1 secured card, and over 2 years before going to Penfed for my car loan, and was immediately approved in both instances.
@Anonymous wrote:So I applied for an unsecured card after getting a solicitation from NFCU in the mail, inviting me to apply. Was denied. Asked for reconsideration - denied.
Then I applied for a secured card - Denied.
- Lots of money in savings and checking
- High income
- 10,500 unsecured credit with 1% util
- Credit Karma equifax = 691
- FICO 8 equifax = 668
- BK7 discharged 8 months ago
- Perfect payment history before and after BK
Why do they hate me?
Have you called to ask why you were declined? I have been away from the boards for a bit and don't know if the 1 year rule is new, but I was approved the day I was discharged. As always YMMV. I would be very curious to hear the reasoning behind your denial though
I was just referring to NFCU. I applied for Capital One and Discover (both unsecured) the day mine was discharged and was approved.
@Anonymous wrote:I was just referring to NFCU. I applied for Capital One and Discover (both unsecured) the day mine was discharged and was approved.
I was also referring to the NFCU secured nRewards card.
Oh , sorry.