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

Regular Contributor

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


markhs777 wrote:

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.


 

Just curious.... how long after discharge did you apply and were denied?  And what card were you denied for? Finally, how long did you wait after that initial denial to apply for the QS1 that you were approved for?

 

Thanks for the info!

Message 11 of 59
Valued Member

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

Bk was discharged 2 weeks ago. Applied for secured card a couple of days ago, instant denial with no pull. Later in the day went to Credit Karma and for what's it worth the site said I had fair odds for the quicksilver one, so figured why not. Instant approval for $2k. Pulled all three, go figure.

Message 12 of 59
Established Member

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

Thanks again for all the feedback guys.  I think I'll probably just wait till after the holdays and try the preapproval site w/ CapitalOne and see if I get approved then.  I'd rather get a non secured card from them, then say CreditOne w/ all the fees, etc.  If after the holidays I still can't get approved w/ CapitalOne then I"ll go the secured route and take it from there.  I'll be sure to check back and let you all know if anything changes.

Message 13 of 59
Established Member

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

Just an update...

I ended up getting an auto loan through Ally financial for a used car in 1/2016. My fiance consigned w me but her credit was worse than mine. We got approved w a 10.2% interest rate. Not great I know but only being 4mo post discharge I was happy.

I've been trying the capital one pre-approval monthly and still get the auto decline message (from what I understand I'm blacklisted for a year post bankruptcy discharge...so I should be good to apply in September )

The bad...I got approved for a Walmart store card with a 750 credit limit but I transposed 1 of the numbers on my checking account and had a payment returned. I ended up fixing it and paid the balance to 0 but walmart closed the card....damn! I plan on waiting ato least 6mos then reapply for it.

More bad....tried for a Barclay's card....got denied...called the recon line...still denied...they want to see an unsecured card with at least 6mo of payment history...I said "well how can I do that if no one will approve me?" Lol

The Great news is I joined Penfed due to reading good things about them on this forum months ago...I just have the savings act with them...said what the hell, try for a card with them...called in and BAM...APPROVED FOR their unsecured Visa w a $1000 limit! I am so happy!

I plan on trying the capital one after my 1yr anniversary date in September...then it's to the garden for me for awhile.

I just wanted to say THANK YOU for this forum
Message 14 of 59
Frequent Contributor

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

You could see if PenFed will approve an auto loan refinance. They have your credit on file it might be worth a shot. They have aquired a lot of other credit unions and have grown more than any credit union in history this year alone. They are um short staffed, and sort of sloppy right now so a lot of stuff is getting through their risk based lending.. JSn

Ch7 BK filed 7/5/16, DC 10/12/16
Message 15 of 59
Established Member

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

I thought about that..they said the pull was good for 90 days...but I'm thinking maybe go 6mos with the card plus adding hopefully the Capital One on there then go for the refinance.

Either way I'm just really happy to finally be back on the road to recovery!
Message 16 of 59
Frequent Contributor

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


byronsru23 wrote:
I thought about that..they said the pull was good for 90 days...but I'm thinking maybe go 6mos with the card plus adding hopefully the Capital One on there then go for the refinance.

Either way I'm just really happy to finally be back on the road to recovery!

byronsru23 wrote:
I thought about that..they said the pull was good for 90 days...but I'm thinking maybe go 6mos with the card plus adding hopefully the Capital One on there then go for the refinance.

Either way I'm just really happy to finally be back on the road to recovery!



Byronsru23, what was you EQ score when you applied for Penfed?

BK Discharged 06/02/2016 SCORES AROUND 475

Current scores:
EXP-667
EQ-654
TU-653
Message 17 of 59
Established Contributor

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


byronsru23 wrote:
I thought about that..they said the pull was good for 90 days...but I'm thinking maybe go 6mos with the card plus adding hopefully the Capital One on there then go for the refinance.

Either way I'm just really happy to finally be back on the road to recovery!


Congratz on enduring this past (hard) year.


Congratz on your successes, to include Pen Fed.


* with Pen Fed, use it, pay in full, give it 6 months as you stated, and then ask for more!


As this is a process which fluctuates up & down, continue to hang tuff!

05/03/16 Fico 8 Scores: EQ 546, TU 501, EX 548
09/01/16 Fico 8 Scores: EQ 662, TU 628, EX 657
10/04/16 Fico 8 Scores: EQ 692, TU 665, EX 686
01/15/17 Fico 8 Scores: EQ 706, TU 670, EX 687 * all Yellow / Good
Message 18 of 59
Established Member

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

Equifax was 665
Message 19 of 59
Established Member

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

I will thanks!
Message 20 of 59