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New Contributor
Posts: 62
Registered: ‎07-27-2008

Kohls Credit Card Approval 2 months after discharged

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I filed on 4/4/17 and I was discharged on 7/10/17.  A week before I was scheduled to get discharged I applied and was approved for a Credit One card with a 300.00 limit.  I'm not happy about the fees but I'm not complaining because of my situation.  Then in July I received a great job offer but I needed a car.  I went to a few dealerships and I was getting turned down left and right...mainly because my credit report payment history was completely erased on TU and EQ and the banks wanted me to build my credit history up again before approval.  So I ended up going to Drivetime and thankfully they approved me the same day.  

 

Fast forward to now I needed some clothes for work so I decided to try my luck and apply for a Kohls card since they have great deals and nice clothes.  I was approved in minutes.  It's only a 300.00 limit but I'm happy to get approved so quickly after the year that I had.  I'm unable to get approved for Capital One because of too many inquiries during the car shopping process.  I plan on waiting a couple months to try with them again and then cancel Credit One.

Contributor
Posts: 77
Registered: ‎08-20-2017
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Re: Kohls Credit Card Approval 2 months after discharged

Hey, congrats! Good luck with the new job. It sounds like you are taking things slowly as you should be. 

 

Question, For the seasoned folks on board, will canceling CreditOne at this point in keia's rebuild cut their age of oldest account? (age of any account, really) By a few months, really, so it might just be a cost of doing business but something to keep in mind? Or does it stay on report as a closed account in good standing. 

2015 EX794. Filed Ch7 in Jun 2017. EX494, EQ486, TU483.
Most recent 9/24/17. EX561, EQ570, TU501
Burned in bk: PSECU, BoA, Chase, Synchrony (CareCredit).
Discharge in Oct 2017 - begin rebuilding then. Currently in planning mode.
Regular Contributor
Posts: 154
Registered: ‎05-13-2017
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Re: Kohls Credit Card Approval 2 months after discharged

Closing Credit One won't hurt average of account. Since it's the only bank card he has right now. and he has already taken the hit for new account and inquiry, I would keep it open at least until a year and he can get better cards. It's helping his score at this point.

Regular Contributor
Posts: 154
Registered: ‎05-13-2017
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Re: Kohls Credit Card Approval 2 months after discharged

Just to add, my zero balance  Kohl's card survived my BK, it was issued through Chase at the time. They did, however, reduce my CL from $1000 to $200.

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Senior Contributor
Posts: 5,563
Registered: ‎07-12-2012
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Re: Kohls Credit Card Approval 2 months after discharged


capabk wrote:

Hey, congrats! Good luck with the new job. It sounds like you are taking things slowly as you should be. 

 

Question, For the seasoned folks on board, will canceling CreditOne at this point in keia's rebuild cut their age of oldest account? (age of any account, really) By a few months, really, so it might just be a cost of doing business but something to keep in mind? Or does it stay on report as a closed account in good standing. 


Closed accounts would remain for 10 years and continue to be a factor in AAoA. It just wouldn't continue to age.

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
735 EQ FICO 09/2017
744 TU FICO 09/2017
737 EX FICO 09/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $17k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
New Contributor
Posts: 62
Registered: ‎07-27-2008
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Re: Kohls Credit Card Approval 2 months after discharged

Thank you Capabk.  I am trying to take things slow because I also have a lot of school loans on my credit report that I will like to focus on paying.  But you made a good point...closing the card too early might hurt me more.  I'll try to keep it open for a least a year.  Thanks

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