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Discharged, denied for cards out of the gate...now what

Established Member

Discharged, denied for cards out of the gate...now what

Hello everyone!

 

So I found this place while doing some searching on repairing ones credit post bankruptcy, and it seems there are a LOT of knowledgeable and helpful people on here so I'm hoping you can tell me what to do next.

 

A snapshot of my current situation:

 

- I just received my chapter 7 bankruptcy discharged on 9-19-15. It was a combination of credit card debts: Old Capital One, Discover cards w/ judgements against me, a few past due medical bills, and some recent cards that I had to include from CreditOneBank, and Walmart.

 

- Currently, the only bills showing on my credit report are my student loans, which are all current, and no late or missed payments

 

- I tried re-applying for a unsecured card @ Capital One, Credit One, and my PSECU credit union a few weeks ago.  I was denied for all 3.  I burned Capital One and Credit One in my bankruptcy so I wasn't surprised I got denied, even though some people here had said they had gotten cards post bankruptcy no problem.  The denial from the unsecured card at PSECU said my credit score from Experian was reported to them as 614, and the reason for the denial was:  the applicant has filed for bankruptcy.  The denial from Captial One states: "there are too many delinquent past or present Capital One credit obligations".  I didnt get a letter yet stating why I was denied from CreditOne

 

I applied for all 3 cards in the same day so hopefully they can show up as 1 hard pull on my score.  My credit union (PSECU) has an option for a secured card, with no credit check required, but I don't know if thats the best option for me to go with.  

 

I ordered all 3 of my credit reports.  It seems everything there is in order.  All accounts listed in the bankriuptcy show they were included w/ $0 balances.  My equifax score is 611, Transunion is 601.  For some reason I didnt get my Experian Score w/ my report so I just ordered that, and its 668?  Is that normal to have such a big variance?  I checked all 3 reports, and nothing is showing on Experian, that isn't showing on TU or Equifax.  I ordered my TU and Equifax report a week ago and just today got my score for Experian, could it have changed that much in a week?  Something just doesn't seem right.

 

 

 

I guess my main questions are:

 

1) Is it normal for the Experian Vantage score to be so much higher than the other 2 agencies?

 

2) Are there are some other "lower tier" unsecured cards people might recommend I try?  Or should I just wait a few months, and then re-apply for any of the above cards?  Or should I just go secured for now?

 

3) Any other suggestions on where I should go from here?

 

 

Thanks in advance

Message 1 of 59
58 REPLIES
Community Leader
Valued Contributor

Re: Discharged, denied for cards out of the gate...now what


byronsru23 wrote:

Hello everyone!

 

So I found this place while doing some searching on repairing ones credit post bankruptcy, and it seems there are a LOT of knowledgeable and helpful people on here so I'm hoping you can tell me what to do next.

 

A snapshot of my current situation:

 

- I just received my chapter 7 bankruptcy discharged on 9-19-15. It was a combination of credit card debts: Old Capital One, Discover cards w/ judgements against me, a few past due medical bills, and some recent cards that I had to include from CreditOneBank, and Walmart.

 

- Currently, the only bills showing on my credit report are my student loans, which are all current, and no late or missed payments

 

- I tried re-applying for a unsecured card @ Capital One, Credit One, and my PSECU credit union a few weeks ago.  I was denied for all 3.  I burned Capital One and Credit One in my bankruptcy so I wasn't surprised I got denied, even though some people here had said they had gotten cards post bankruptcy no problem.  The denial from the unsecured card at PSECU said my credit score from Experian was reported to them as 614, and the reason for the denial was:  the applicant has filed for bankruptcy.  The denial from Captial One states: "there are too many delinquent past or present Capital One credit obligations".  I didnt get a letter yet stating why I was denied from CreditOne

 

I applied for all 3 cards in the same day so hopefully they can show up as 1 hard pull on my score.  My credit union (PSECU) has an option for a secured card, with no credit check required, but I don't know if thats the best option for me to go with.  

 

I ordered all 3 of my credit reports.  It seems everything there is in order.  All accounts listed in the bankriuptcy show they were included w/ $0 balances.  My equifax score is 611, Transunion is 601.  For some reason I didnt get my Experian Score w/ my report so I just ordered that, and its 668?  Is that normal to have such a big variance?  I checked all 3 reports, and nothing is showing on Experian, that isn't showing on TU or Equifax.  I ordered my TU and Equifax report a week ago and just today got my score for Experian, could it have changed that much in a week?  Something just doesn't seem right.

 

 

 

I guess my main questions are:

 

1) Is it normal for the Experian Vantage score to be so much higher than the other 2 agencies?

 

2) Are there are some other "lower tier" unsecured cards people might recommend I try?  Or should I just wait a few months, and then re-apply for any of the above cards?  Or should I just go secured for now?

 

3) Any other suggestions on where I should go from here?

 

 

Thanks in advance


I am one year post discharge.  However, right after discharge I applied for Capital One and was denied as well without any hp.  I had to go the secured route in the begining and it opened up so many other doors for me.  I opened a secured card with a local credit union I became a member the same day.  I allowed that card to report for about 4 months with other cards I obtanined during that time.  I opened a fungerhut account, verve MC (high fee's) stupid of me now I look back over it, and an Express credit card.  Then after about 4-5 months I reapplied with Capital One and they approved me for the Platimum and QS1.  About a month or so later I obtained the Sony card as well.  The limits was small in the beginning but they have grew with me substantially.

 

Good Luck, I hope this adivce helps you out.

Barclay Reward MC 750|Cabela's 1k|Capital One QS1 3.4k|
|Sony Card 3.5k|
Message 2 of 59
Established Member

Re: Discharged, denied for cards out of the gate...now what

Thanks, I appreciate the feedback

Message 3 of 59
Established Contributor

Re: Discharged, denied for cards out of the gate...now what

I think your best bet will be to go with a Secured card. I went with the OpenSky Visa. No credit pull at all and only a $200 deposit to open. They also report very quickly to the CRAs. Good luck with your rebuild! Remember, it is not a sprint, it is a marathon.

Ch7 Discharge 3/15: Goal: 700 Current FICO:Equifax: 674(608) Tranunion: 664(585) Experian: 679(590)
Message 4 of 59
Established Member

Re: Discharged, denied for cards out of the gate...now what

Thanks again everyone.   It looks like ill be waiting till after the holidays when I have some spare cash to put aside and I'll get the OpenSky Card.  Hopefully after 4-6mos I'll be able to qualify for an unsecured card.

Message 5 of 59
Established Contributor

Re: Discharged, denied for cards out of the gate...now what

I would check to see if your credit union has a credit rebuilding loan.

 

It works similar to a secured credit card.  You take the money in your savings account and use it as collateral.  The good thing about the loan is that you get access to the money right away.  With a secured CC you are always trying to keep the balance down to help your credit rating.  So you wont want to use the CC for holiday expenses.

 

This gets you started with another TL and a good mix of your accounts.

Message 6 of 59
Established Member

Re: Discharged, denied for cards out of the gate...now what

Same to me . Discharged on 08/15/2015 ( burned Cap1 on my file , too ) . Apply for Cap1 QS and declined right away. By that time , all my credit report are clear and everything got Discharged by BK 7 . 

 

2 days ago , I did apply for Cap1 again and got approved with QS for $500 CL , and did apply for Cap1 Plantium and approved for $500 , too . Both application same day and both got approved . Now I'm waitting for both card arrived in my mailbox and start fresh with new credit life . 

 

Just wait few more months after discharged .....

Message 7 of 59
Valued Member

Re: Discharged, denied for cards out of the gate...now what

I was approved today with Capital One after going the Secure route with Open Sky. I was previously denied by capital one 3x. I decided today was the day. $2,000 credit limit too. SO there is hope. Don't give up
Message 8 of 59
Established Member

Re: Discharged, denied for cards out of the gate...now what

Congrats on the cards in your siggy!

Filed: 9/15 | Meeting: 10/15 | Discharged: 12/15
Auto Loan: 12/15 - $21,500 | Cap1Plat: 01/16 - $1K
Message 9 of 59
Valued Member

Re: Discharged, denied for cards out of the gate...now what

Two years ago I had every high credit limits cc's with all of the prime banks. Due to business failure had to file bk this past June and was discharged this monitth. Applied for secured for a Cap One card and was denied without a pull. Discouranging but not totally unexpected since I burned them with Venture and Spark. Went to Credit Karma that indicated I had 601 Tu score and suggested to apply for the Cap One Quicksilver One so I did and was approved for 2k and with my circumstances was not bad. Perhaps if you apply thru a third party site and get redirected you may have a better chance for whatever reason. Have to start somewhere so good luck.

Message 10 of 59