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Contributor
Karunch
Posts: 93
Registered: ‎01-31-2008

Subaru Chase MC After BK!

Holy cow! I had been looking at Subaru's website and I saw that there was a Subaru MasterCard offered by Chase, it offers 3% back in Subaru Rewards Dollars up to $500 per year which can be used for a new car, parts, or service at the dealer.  There also is no AF.  It also offers 0% on BT's & Purchases for the first 6 months.  So on a whim I figured that I would apply for it.  I honestly did not think that there was a snowball's chance in h*ll that I'd be approved, since I had a CH7 BK that was discharged in 08/2008 and 2 Chase CC's were IIB.  But I figured that it wouldn't hurt to try.

 

After I applied I got a 7-10 message, and I ended up getting a letter saying that because my TU was frozen that they could not review my application.  I went and unfroze my TU report and I called back tonight to let them know.  The CSR put me on hold for about 3 minutes and came back saying that my application was approved for $3,000!!!  Surprisingly he never asked me any questions, didn't ask about my BK, etc.  I did log into my Chase online account and the new card is showing up already, and it shows the $3k for the CL and my APR is 16.24%.  This is one of my lower CL's but I'm just glad to have my foot in the door with Chase.

 

I'm just absolutely shocked that I got approved since I thought that Chase blacklisted and weren't BK friendly.  I don't know if it makes any difference or not but I do have my auto loan for my Subaru through JP Morgan Chase that has been open since 02/2011.  Since my BK discharge my credit has vastly improved (my score is higher now then it ever was before BK), I have not had any late payments, and my income has doubled.  Right now my current UTL is 11%. 


Starting Score: 686 EQ (8/9/12), 668 TU (WalMart 8/8/12), 685 EX (3/25/14)
Most Recent Score: 684 EQ (3/26/14), 688 TU (3/25/14), 685 EX (3/25/14)
Goal Score: 700+


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Moderator
Revelate
Posts: 8,335
Registered: ‎12-30-2011

Re: Subaru Chase MC After BK!

Congrats, that is definitely an interesting datapoint.

 

It could be a mix of both being a co-branded card, and also the relationship you've built.  I dropped a broad hint in my recent Freedom recon about Chase being my primary depository institution for the last half year, and when the CSR came back after a bit with an approval, that was one of two datapoints he specifically mentioned as reasons why they changed their decision.

 

Mainline Chase cards though, Freedom et al, I still think 8 years post BK is sorta a magic number though granted it's YMMV.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012

Re: Subaru Chase MC After BK!

I barely got a Freedom 9 yrs, 4 mos after BK. Chase mainline cards are not BK friendly. Congrats OP!
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Valued Contributor
BearsAndTurtlesRtheBest
Posts: 3,247
Registered: ‎10-02-2012

Re: Subaru Chase MC After BK!

WOW I was roaming around for credit cards, and i also noticed that subaru had a MC. WOW SUBARU OUTBACK IS ON MY SISTERS AND I CHECKLIST WHEN WE TOUCH OUR 20s, and defintely getting that credit card. SUBARU AND LAND ROVER FOR LIFE:smileyhappy: Congrats on approval according to info you provided it can be an esay card to get hmmmm will look into once I can apply for cards under my name. AGAIN CONGRATS!!!


$600$800$1,000$500(AU) $2,500
EQ FICO---, EX FICO---, TU FICO---, AAOA 5 months, Utilization 70%, No delinquencies of any sort.
Inquiries on EQ: 19, Inquires on EX: 30, Inquiries on TU: 21, Gardening Since 06-25-14
Frequent Contributor
LionLaw
Posts: 258
Registered: ‎06-10-2012

Re: Subaru Chase MC After BK!

This story is very interesting to me, as we are in very similar situations.  Though I've never had a BK, Chase did charge off a CC for about $7500, which I eventually paid after it had gone to collection.  My scores are roughly the same as yours, and like you, I have a car loan on a Subaru with Chase, which I opened in April of 2012.  I tried apping for an Amazon Visa in September and a Freedom in December, and was denied both times because of the CO.  Maybe I'll give this Subaru card a try; I'd really like to get back in with Chase, as they seem to have the best Visa/MC offerings around.  I have very few inquiries on EX, so it would be worth a try (though for my last app with Chase, for some reason they double pulled EX and TU, and I already have more HPs than I'd like on TU). I've still got some high balances reporting from Christmas, but when those are paid off next month, I should be in good shape.  I hope I have as much luck as you did!


Starting Score: 617 (EQ 6/10/12)
Current Score (8/28/13): EQ: 691 EX: 706 TU: 700
Goal Score: 700

Discover it $4,500 (02/2001); Amex PRG (Backdated to 01/2006); Amex ZYNC (Backdated to 07/2006); Wells Fargo Cash Back Visa $5,500 (12/2011); Citi Diamond Preferred MC $2,000 (07/2012); B of A Cash Rewards Visa Signature $5,000 (02/2013)

Valued Contributor
BearsAndTurtlesRtheBest
Posts: 3,247
Registered: ‎10-02-2012

Re: Subaru Chase MC After BK!

^^^^ keep us posted!! will be waiting. :smileywink:


$600$800$1,000$500(AU) $2,500
EQ FICO---, EX FICO---, TU FICO---, AAOA 5 months, Utilization 70%, No delinquencies of any sort.
Inquiries on EQ: 19, Inquires on EX: 30, Inquiries on TU: 21, Gardening Since 06-25-14
Contributor
Karunch
Posts: 93
Registered: ‎01-31-2008

Re: Subaru Chase MC After BK!

Good luck to you LionLaw, hopefully you can get approved for a card.  Part of the reason that I even tried for the card in the first place was that I was hoping that my car loan through JP Morgan Chase/Subaru would help me.  I assume that's part of what helped me get approved, but I can't say for sure since the guy I spoke to didn't mention it.


Starting Score: 686 EQ (8/9/12), 668 TU (WalMart 8/8/12), 685 EX (3/25/14)
Most Recent Score: 684 EQ (3/26/14), 688 TU (3/25/14), 685 EX (3/25/14)
Goal Score: 700+


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New Contributor
jumpinjax
Posts: 72
Registered: ‎02-15-2012

Re: Subaru Chase MC After BK!


Karunch wrote:

Holy cow! I had been looking at Subaru's website and I saw that there was a Subaru MasterCard offered by Chase, it offers 3% back in Subaru Rewards Dollars up to $500 per year which can be used for a new car, parts, or service at the dealer.  There also is no AF.  It also offers 0% on BT's & Purchases for the first 6 months.  So on a whim I figured that I would apply for it.  I honestly did not think that there was a snowball's chance in h*ll that I'd be approved, since I had a CH7 BK that was discharged in 08/2008 and 2 Chase CC's were IIB.  But I figured that it wouldn't hurt to try.

 

After I applied I got a 7-10 message, and I ended up getting a letter saying that because my TU was frozen that they could not review my application.  I went and unfroze my TU report and I called back tonight to let them know.  The CSR put me on hold for about 3 minutes and came back saying that my application was approved for $3,000!!!  Surprisingly he never asked me any questions, didn't ask about my BK, etc.  I did log into my Chase online account and the new card is showing up already, and it shows the $3k for the CL and my APR is 16.24%.  This is one of my lower CL's but I'm just glad to have my foot in the door with Chase.

 

I'm just absolutely shocked that I got approved since I thought that Chase blacklisted and weren't BK friendly.  I don't know if it makes any difference or not but I do have my auto loan for my Subaru through JP Morgan Chase that has been open since 02/2011.  Since my BK discharge my credit has vastly improved (my score is higher now then it ever was before BK), I have not had any late payments, and my income has doubled.  Right now my current UTL is 11%. 


Hello OP,

 

What did you do to these three questions on App? -

 

 
Yes, my credit history is clear of bankruptcy.
 
Yes, my credit history is clear of seriously delinquent accounts.
 
Yes, I have NOT been denied credit by Chase within the last 6 months.
 
Just curious..
 
 
Valued Member
Jkusa
Posts: 38
Registered: ‎10-15-2012

Re: Subaru Chase MC After BK!

Congrats!!

I've kinda given up on getting another Chase CC as they were included in my BK7 in '08. I do have a checking account with them since its free checking throught my employer.

src="http://ficoforums.myfico.com/fico/i/custom/FFC_Icon.gif">Starting Score: 652
Current Score: EQ 685 TU 683 EX 699 (their sites FAKO) all as of 03/02/13
Goal Score: 700


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Established Contributor
thankfulheart
Posts: 619
Registered: ‎09-26-2011

Re: Subaru Chase MC After BK!

I didn't know there was a Subie Card! Ruh-roh...I feel the temptation at the garden gate...must wait until my mortgage reports and UTIL drops more.  Mama wants a new Subie in a few years when I give my Forester to my girls!

 

Congrats on the nice CL!

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)


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