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Established Contributor
MountainHiker
Posts: 651
Registered: ‎08-07-2012
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Re: Which CC company is more forgiving 4 past collections & new approval?


Madman94044 wrote:

I had a prior CO w/ Chase got aproved today for a Freedom Card w/ $4000 limit.

 

Theres only one way to find out :smileyhappy:


Was the collection unpaid or paid off? Thanks

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured
Valued Contributor
trumpet-205
Posts: 2,494
Registered: ‎11-11-2010
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Re: Which CC company is more forgiving 4 past collections & new approval?


MountainHiker wrote:

trumpet-205 wrote:

Cap 1 is very forgiving. Chase can be forgiving, but any unpaid debt must be first paid.

 

AMEX is not forgiving if you burned them in the past. Either AMEX blacklist you or you will be stuck with a low limit.


What about BofA? Are they forgiving?


Nope.

 

Honestly, with 4 COs currently on your credit report (not to mentioned unpaid), you will be turned down for credit card beside Capital One.

 

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
Established Contributor
MountainHiker
Posts: 651
Registered: ‎08-07-2012
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Re: Which CC company is more forgiving 4 past collections & new approval?


trumpet-205 wrote:

MountainHiker wrote:

trumpet-205 wrote:

Cap 1 is very forgiving. Chase can be forgiving, but any unpaid debt must be first paid.

 

AMEX is not forgiving if you burned them in the past. Either AMEX blacklist you or you will be stuck with a low limit.


What about BofA? Are they forgiving?


Nope.

 

Honestly, with 4 COs currently on your credit report (not to mentioned unpaid), you will be turned down for credit card beside Capital One.

 


I have only ONE collection on my credit report and that is from a cell phone provider and is 6.4 years old. Will drop off in april.Everything else is current in good standing. That is why my scores are in the low 700's. Still might be a huge problem till then. I'm still learning the do's and don't's about credit when there is a blimish on the report.

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured
Established Contributor
MountainHiker
Posts: 651
Registered: ‎08-07-2012
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Re: Which CC company is more forgiving 4 past collections & new approval?

Based on the general opinion on this site the Chase Freedom seems to be the easier premium Chase card to get.Which other Chase reward card is possibly a easier get for a person with a unpaid 8 year old Chase card, and 1 older(6.4 year cell phone bill) collection account?

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured
Valued Contributor
trumpet-205
Posts: 2,494
Registered: ‎11-11-2010
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Re: Which CC company is more forgiving 4 past collections & new approval?


MountainHiker wrote:

Based on the general opinion on this site the Chase Freedom seems to be the easier premium Chase card to get.Which other Chase reward card is possibly a easier get for a person with a unpaid 8 year old Chase card, and 1 older(6.4 year cell phone bill) collection account?


Chase Freedom is entry card to Chase these days. So I think you should start at Freedom.

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
Regular Contributor
Madman94044
Posts: 142
Registered: ‎07-01-2012
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Re: Which CC company is more forgiving 4 past collections & new approval?


MountainHiker wrote:

Madman94044 wrote:

I had a prior CO w/ Chase got aproved today for a Freedom Card w/ $4000 limit.

 

Theres only one way to find out :smileyhappy:


Was the collection unpaid or paid off? Thanks


charge off by Chase, sold to collection agency, I settled with th CA.

Staring Score:EQ 649 TU 647 EX 644
Current Score: EQ 786 TU 699 EX 746
Goal Score: 800
Wallet: SF Fire CU $5000 CL Chase Freedom 4000 CL, Chase MP $5000, WellsFargo $6000 CL, Amex Gold NPSL, Cap1 CashRewards $2500 CL, Amex BCP $12000 Discover More $1200 CSP 18000
Contributor
jetsfan2012
Posts: 208
Registered: ‎05-28-2012
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Re: Which CC company is more forgiving 4 past collections & new approval?

Cap 1 and HSBC were the most forgiving, but now HSBC has been absorbed by Cap 1, that might be your only route.

Credit Karma - 636 8-12-12 USAA
Credit Rebuilding Mode - Cap 1 Plat(500CL) SHOW MC(300CL)
Clean Up Mode - Goal - No New Apps till 6/2013
Valued Contributor
Crashem
Posts: 3,098
Registered: ‎01-26-2012
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Re: Which CC company is more forgiving 4 past collections & new approval?

Mountain hiker,

 

What cards do you have right now and limits?  Also, can you tell us what happened with each of old collection accounts (ie paid settled etc)?  Here is the reality, most of big lenders can be tuff but some are tougher than others.  But it isn't as bad as you think.  The reason is that if you are blacklisted, you will likely not even get a hard pull on credit as you will trigger their internal flag.  As such, I think it is worthwhile to app the everything else looks okay.  However be prepared to take the hard pull.  But it is worth it IMO to find out where you stand.

               LIMITS IN CARD DESCRIPTIONS
Established Contributor
MountainHiker
Posts: 651
Registered: ‎08-07-2012
0

Re: Which CC company is more forgiving 4 past collections & new approval?


Crashem wrote:

Mountain hiker,

 

What cards do you have right now and limits?  Also, can you tell us what happened with each of old collection accounts (ie paid settled etc)?  Here is the reality, most of big lenders can be tuff but some are tougher than others.  But it isn't as bad as you think.  The reason is that if you are blacklisted, you will likely not even get a hard pull on credit as you will trigger their internal flag.  As such, I think it is worthwhile to app the everything else looks okay.  However be prepared to take the hard pull.  But it is worth it IMO to find out where you stand.


Crashem

I have read several of your post you are very informed. I have only one credit card. A secured Wells Fargo started at $500 and have increased it to $2K. I can add more money and max it out to $10K. No hard pull btw when increasing my limit.  Wells Fargo has said they will make the card unsecured in december.By then my Wells Fargo visa will be 14 months young. All my old delinquint credit card accounts have fallen off the three credit bureau. Sadly,they all went unpaid, and eventually expired based on the seven year rule. Only negative remaining is a unpaid collection with a cell phone company.That falls off in march 2013. I am concern about that one collection, that it might stop me from getting a premium card. I appreciate that you said my idea of collection accounts may be more servere than credit reality.

 

I do know a friend that was able to get an American Express blue with good credit but low FICO scores (660). However, he didn't have a bad debt with AE. But maybe still there is hope for me considering all three of my scores are in low 700's.EQ-FICO-708,TU-FICO-710,EX PLUS-705. I just don't have a regular credit card at the moment and I miss having a premium card. Thankfully, I do have excellent auto credit history reporting to two of the credit reporting companies.I'm in communication with Nissan attempting to get them to place my auto history on Experian. I will say this.Last night I found a website that gave information on how to register for pre-selections with only a soft pull.I actually got up the nerve to sign up on the American Express site.Gave them all my info including SS to see if I could qualify for any card and to see if I'm blacklisted.After doing so, the system sent me the message that the website was not working properly and it then gave me three system cards to apply for.Blue,Gold and Platinum.Didn't pull the trigger.Good thing is, my information is now available for possible mailing.Hopefully the good kind:smileyhappy:

P.S. Nissan has informed me that my credit score and previos auto history with them is good enough for a premium tier lease.I can't help but wonder if car credit is different than credit card credit? If I can get a lease which is more difficult than a purchase, then why not a premium credit card?

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured
Established Contributor
MountainHiker
Posts: 651
Registered: ‎08-07-2012
0

Re: Which CC company is more forgiving 4 past collections & new approval?


Crashem wrote:

Mountain hiker,

 

What cards do you have right now and limits?  Also, can you tell us what happened with each of old collection accounts (ie paid settled etc)?  Here is the reality, most of big lenders can be tuff but some are tougher than others.  But it isn't as bad as you think.  The reason is that if you are blacklisted, you will likely not even get a hard pull on credit as you will trigger their internal flag.  As such, I think it is worthwhile to app the everything else looks okay.  However be prepared to take the hard pull.  But it is worth it IMO to find out where you stand.


Just wanted to let you know I appreciate your response.

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured

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