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Good Credit but 8 yr old Bankruptcy

Regular Contributor

Good Credit but 8 yr old Bankruptcy

My FICO credit scores are just over 700. I do have a bankruptcy from 03/2003 (8 yrs old now) still on my reports. Does this eliminate me from getting the better credit cards? I got a home loan easily just last dec. 4.5% rate.

Message 1 of 8
7 REPLIES
Moderator Emerita

Re: Good Credit but 8 yr old Bankruptcy


Settemio wrote:

My FICO credit scores are just over 700. I do have a bankruptcy from 03/2003 (8 yrs old now) still on my reports. Does this eliminate me from getting the better credit cards? I got a home loan easily just last dec. 4.5% rate.


Hi Settemio!

 

It depends on the lender. Some lenders will blacklist with a banruptcy (w/o regard for how long ago, or the good credit history established since), and some are not nearly as restrictive. And, frequently enough, there are exceptions to the known practices of each lender.

 

Where are you thinking of applying? Maybe some of our fellow members can offer some BTDT advice.

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Message 2 of 8
Regular Contributor

Re: Good Credit but 8 yr old Bankruptcy

I was thinking of applying for:

 

USAA

Citi

Wells Fargo

Local Credit union - DATCU

Message 3 of 8
Regular Contributor

Re: Good Credit but 8 yr old Bankruptcy

usa maybe about 50/50 shot not really bk friendy,if approved sm limit.

 

citi  not bk friendy

 

wlls fargo maybe i think you got to have an relationship with.

 

datcu dont know

Message 4 of 8
Frequent Contributor

Re: Good Credit but 8 yr old Bankruptcy

you might be able to start with a secured card with your cu then a year from now try to get it unsecured to get your deposit back. cu's will try to work with you to help you establish your credit history or further improve it

amazon
Message 5 of 8
Regular Contributor

Re: Good Credit but 8 yr old Bankruptcy

My credit is fine since BK, one late. I just have to wait to have it fall off. I have reestablished credit in many ways in the last 8 years, so I really dont need more reestablishing accounts, that is why I am seeking out these 'normal' CCs...

Message 6 of 8
Valued Contributor

Re: Good Credit but 8 yr old Bankruptcy

I have a BK form 10/02 (just over 8 yrs). I have had no lates since BK, and currently have around 4% Untilization, Latest scores are 706EQ, 725 TU. I have had no problem with Alliant CU (Visa w/5K limit, Car Loan @ 4% int); AMEX (Gold Premier Rewards, Gold Delta Skymiles - I would have applied for the Plat Delta, but thought they would say no); UMB Gide Dog Visa 7.5K limit; and HSBC Reward Zone Plat (5K limit), plus a variety of GEMB Store cards with decent limits (3-5K).

 

In my experience, Citi definitely does not like BK, USAA denied me for too many recent inquiries/too many new accounts (AMEX, plus recent Car loan did me in). I think you probably have a fair shot with local credit Union, especially if you have an established relationship, and I have no experience with Wells Fargo.


CC's: AMEX (4), Alliant Visa, PenFed AMEX, Pen Fed Promise, Citi (3), Chase (5), US Bank Cash+, Huntington Voice, UMB Visa, Nasa Plat Cash Visa, Barclay's Visa, Discover IT, Cap One QS, BOA (2), BMW Visa, 5/3 Real Life Rewards MC; FNBO Amex; Comenity Visa/MC (4), Ebates Visa Siggy, Nordstrom Visa, Walmart MC, Sam's Club MC; A few assorted store cards.

Current Scores (09/2017): EQ My Fico: 801; TU MyFico: 799; EX (My Fico): 797
Message 7 of 8
Contributor

Re: Good Credit but 8 yr old Bankruptcy

Barkley credit card is bk friendly, my bk is 10/03 and they gave me 2500 to start, small but better than capital one.

Message 8 of 8