@starry1 wrote:
When I spoke to a disco underwriter last summer I was told minimum 24 months after bk. They aren't that bk friendly even after 24 months though.
Pretty close. I was approved for IT 4/12. 22 months out of BK7 post discharge. Did not included in IIB.
@grassfeeder wrote:
@Mads8 wrote:Darn, even to do a balance transfer? You would think when we want to give them our business it would be smart to at least hear us out. She wouldn't even discuss it with me.
yeah, you're not nearly far along enough in your rebuilding efforts to look at Discover. I would to eliminate some of those un-needed store cards and look to get credit line increases on your un-secured credit cards to have those lines of credit higher than what they are, they're still quite entry level. Better to have fewer good cards with good credit limits than a bunch of meaningless cards all with small entry level limits. It shows that you haven't grown. At this point you should have no secured credit.
I'd work on this in the next year, get your scores around the 670 range and try and revisit.
I have a strong feeling that, this is what helped me get approve for IT on 4/12/2014.
I have closed cap1 secure card on 11/13. after 11 months.(200)
closed smart connect on 2/14 after 8 months. (300)
closed target card 2/14 after 11 months.(started 200 to 400)
@Mads8 wrote:Because I have been reading horror stories of Capital one and never increasing your limit...Im enrolled in credit steps in both capital one cards and at the 6 month mark, they raise your limit to 750.00...& from what I have read, never again. That doesn't sound like my forte, and I do have an annual fee on both for 39.00...My best buy Citi card has an annual fee for 59.00....The only reason I accepted was to get my foot in the door with CITI....Probably wasn't a good idea. & then the Ann Taylor & Buckle came from the shopping cart trick. I really didn't need them. It was all about the rush of being approved without a hard pull....But I do not need them and will not use them.
My Cap1 platinum card started 500 on 11/12, On 5/13 got bumped to 1500, And on 11/13 got upgraded to QS1 with annual fee perm removed.
My Sony Visa started with 500 4/13, and on 9/13 bumped to 750, and on 2/14 bumped to 2250.
So YMMV........
@09Lexie wrote:I wouldn't worry about your current line up now. Shiw that you can handle credit again before applying to lenders like Discover.
Discover is a more conservative lender, moreso than Chase when it comes to bk IMO
You would need upwards of 5-6 years before Discover would say yes.
Capital One has gotten better this year and their Credit Steps program has been good to a lot on the Credit Card Forum.
Bottomline is a bk is a major derog and assuming a lender will accept your new credit and not look at the bk is a bit naive. Now, ypu can improve your credit by getting some time in between the bk and any future apps. You've started the key strips in rebuilding with an array of credit cards. Good for you in getting a national bank cc (Barclays) that will help with your new foundation.
Approved for IT on 4/12/14. only 22 months out of post discharge. bk 7. thank you.
@Ciscoford wrote:I was approved with BK discharged 5/12 with CL $2000. I got the 7-10 message then they called in a few days to ask for more information and was approved over the phone. Took their first offer..lol.
I received counter offer online and approved for 1600. Didnt have to call or nothing. fast and easy.
@Scupra wrote:
@pokerpro wrote:I got approved for discover card 8 years post BK with no reco or any other issues
I tried for a CLI, but the analyst said no way, you basically got your approval cause of the time that had passed since the BK
Congrats on the instant approval! I wish we had more info as to what Discover is looking for when approving people with BK. Obviously you are far enough out, shoot even for AMEX as long as you didn't burn them. Reallyyyyyy want "IT"
For me, I made all the payments(obviously).
Really didnt use none of my credit heavily per say. I think the time took care of everything for me in my situation.
@EndlessRoad wrote:
@09Lexie wrote:I wouldn't worry about your current line up now. Shiw that you can handle credit again before applying to lenders like Discover.
Discover is a more conservative lender, moreso than Chase when it comes to bk IMO
You would need upwards of 5-6 years before Discover would say yes.
Capital One has gotten better this year and their Credit Steps program has been good to a lot on the Credit Card Forum.
Bottomline is a bk is a major derog and assuming a lender will accept your new credit and not look at the bk is a bit naive. Now, ypu can improve your credit by getting some time in between the bk and any future apps. You've started the key strips in rebuilding with an array of credit cards. Good for you in getting a national bank cc (Barclays) that will help with your new foundation.
I'd have to disagree with Lexie on this one. I was denied for Discover at 2 years post BK7 and 2 years 9 months. I tried again at 3 years and got instant approval, Chase however will not bat an eye at me. I called to recon a Chase Freedom card 3 times, it just wasnt happening. Chase and Citi are the two most conservative lenders I've dealt with since my BK, neither is willing to budge even after almost 3.5 years post.
Congrats on the Barclay card, it grows fast! I got mine when I thought they were a credit card like First Premiere. After I got the card I realized they are a big bank and their rewards are pretty nice (my first ever rewards card). At 6 months my CL went from 1300 to 2600 automagically! Just keep gardening and let that Barclay card grow, once Discover sees you treat that one well apply again (I'd try to hit the 3 year mark though). Good luck to you!
There's a thread on CC from a user ( http://ficoforums.myfico.com/t5/Credit-Cards/Discover-Denial-due-to-Bankruptcy/td-p/3056908 ) who was denied 8 yrs post discharge. With any app, it's a YMMV but to be safe, the farther away from bk the better your odds of approval
@09Lexie wrote:
@EndlessRoad wrote:
@09Lexie wrote:I wouldn't worry about your current line up now. Shiw that you can handle credit again before applying to lenders like Discover.
Discover is a more conservative lender, moreso than Chase when it comes to bk IMO
You would need upwards of 5-6 years before Discover would say yes.
Capital One has gotten better this year and their Credit Steps program has been good to a lot on the Credit Card Forum.
Bottomline is a bk is a major derog and assuming a lender will accept your new credit and not look at the bk is a bit naive. Now, ypu can improve your credit by getting some time in between the bk and any future apps. You've started the key strips in rebuilding with an array of credit cards. Good for you in getting a national bank cc (Barclays) that will help with your new foundation.
I'd have to disagree with Lexie on this one. I was denied for Discover at 2 years post BK7 and 2 years 9 months. I tried again at 3 years and got instant approval, Chase however will not bat an eye at me. I called to recon a Chase Freedom card 3 times, it just wasnt happening. Chase and Citi are the two most conservative lenders I've dealt with since my BK, neither is willing to budge even after almost 3.5 years post.
Congrats on the Barclay card, it grows fast! I got mine when I thought they were a credit card like First Premiere. After I got the card I realized they are a big bank and their rewards are pretty nice (my first ever rewards card). At 6 months my CL went from 1300 to 2600 automagically! Just keep gardening and let that Barclay card grow, once Discover sees you treat that one well apply again (I'd try to hit the 3 year mark though). Good luck to you!
There's a thread on CC from a user ( http://ficoforums.myfico.com/t5/Credit-Cards/Discover-Denial-due-to-Bankruptcy/td-p/3056908 ) who was denied 8 yrs post discharge. With any app, it's a YMMV but to be safe, the farther away from bk the better your odds of approval
With so many approvals around the 2-3 year mark I think there is more going on there. I couldn't agree more that EVERY app is YMMV and everyone should know that before hitting submit We all share our stories here to help, just because one person was approved at 2 years doesnt mean everyone will be. Thanks Lexie!!
@bk510 wrote:
@starry1 wrote:
When I spoke to a disco underwriter last summer I was told minimum 24 months after bk. They aren't that bk friendly even after 24 months though.Pretty close. I was approved for IT 4/12. 22 months out of BK7 post discharge. Did not included in IIB.
My Ch 13 was discharged 5/13 And falls off my report 4/16... 7 years from filing date. I suppose I could try Discover next year but might as well wait till 2016 when my report will be free of both BK and inquiries.
Never had a Discover...
