@android01 wrote:
@LS2982 wrote:
@Berkster wrote:Hi everyone, I am curious to what credit card I would have the best chance to qualify for with the score that I have. The only debt that I have is a student loan $119 per month. My debt to income ratio is 6% utility bills, insurance and student loan(bankrate.com), I own my home. The only negative I have is a 7 year old bankruptcy. Annnual income is a little over $47k. I have a Cap One with a 2K CL/ 0 BAL, HSBC 1500 CL/ 0 BAL, 5/3rd BANK 750CL/ 0 BAL. I bank with USAA and 5/3rd Bank (checking and savings at both. Any insight will be great.
You may want to wait for the BK to drop off (which should be 6 months or sooner) from now to apply for anything else. AMEX would be a good shot (charge card).BK's remain on your report for 10 years, I believe.
It could be up to 10 years, but from 7.5 to 10 years. Hoping its 7.5 for you!
It could be up to 10 years, but from 7.5 to 10 years. Hoping its 7.5 for you!
It's allowed to remain on for up to 10, they can pop it at anytime they want though (but usually 10).
Poking around these forums, though, there are quite a few people here who've gotten AMEX @7 years post BK, w/ the BK still reporting. It's as though their internal algorithm doesn't care once it's 7+. YMMV.
If you have an INQ to burn, I'd try an AMEX.
-SM
Thanks guys. I haven't applied for anything in over a year now. I'm optimistic but cautious because I don't want to burn an inquiry if the chances are not favorable for a good card. Not that I am asking for a multi million dollar credit card but I am looking for something with a little bit more bite to it. Now what is the likely hood that a BK will fall off in 7.5 years? It would be great if it was to happen for me but realistically I will plan for 10 but if it goes at 7.5 I am going to be glad.
Typically how long does a discharged BK Chapter 7 stay on. I know this is the wrong board to ask that question but I am asking in response to the previous post.
UPDATE, UPDATE, UPDATE, I took the plunge for the USAA card and it was approved!!! I applied for the USAA Rewards World MasterCard and they gave me a $8k starting limit. I was nervous when I hit the submit button but I am better now I stopped shaking. Thanks guys for the advice on the USAA card.
@Berkster wrote:UPDATE, UPDATE, UPDATE, I took the plunge for the USAA card and it was approved!!! I applied for the USAA Rewards World MasterCard and they gave me a $8k starting limit. I was nervous when I hit the submit button but I am better now I stopped shaking. Thanks guys for the advice on the USAA card.
That's wonderful! Congrats!!!!!!!!! 
Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k