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Established Member
mikey4833
Posts: 90
Registered: ‎01-26-2013
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Re: Why do banks decline people for credit cards that have bankruptcy?


Gunnar419 wrote:

People (including me at one point) have been giving this guy advice for weeks and never once has he shown a sign that he's interested in taking any of it.

 

He just comes back and posts contradictory rants about the nature of his problem. Can't get cards after BK. Can only get crap cards. Has tons of cards he's proud of. Has a wife who's ruining his credit with her crazy debts. Has almost no debt. Etc.

 

@Mikey, why don't you slow down now that you've gotten all this very good advice and tell us what your plan is for getting out of the fix you're in, whatever that fix involves?


Hi Gunnar419 to answer your question I tried to answer everyones' question in that BIG long paragragh. My plan for getting out of the situation? I am gardening! no more applications as of right now today... I got a Lowes Card last night.... I stated that up there..I will keep it because I closed out a worthless QVC card that I had no use for and I replaced it with Lowes I can use it cause I shop there alot but no more apps that is a promise to everyone who gave me the advice. I thanked every one for their advice I said I have way more than enough cards I learned my lesson through BK and through all the good people on here who given me advice and all the rebuilding info I read. My motto is this... I'm going to be in gardening for 2-3 years from now at least to 2014 July 5 years after BK and all the inquiries will be gone in 2015... My wife doesn't have access to my cards anymore nore to hers I locked them up all her access cards.  I said I may lose my job because of health issues but I still will be ok even on just my wife's little $15,500 a year I pay my cards in full all except 1 business card balance of $580. I still got my business to back me up too I had a mini stroke at 29 years of age the Dr believes. I'm on a inhaler, heart medication, had a cat scan of my head done. I'm frightened and on edge about that just like that after my bday april 10 when I turn 29 I get all these health problems.  As far as bankruptcy goes I agree there should be no law so I am discontinuing that petition.


Starting Score: TU:599 EXP: 596 EQ: 595 Starting Year 2009
Current Score: TU:715 (685 FAKO) EXP:647 (673 FAKO) EQX: 637 (FAKO 615) - All on 04/24/13 In the garden until 05/2014 because too many inq and low AAoA 1.4 mo. My BK chap 7 will be 4 yrs old July 2013
Goal Score: 760+ across the board by next year July 2014 5 yrs after BK


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LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Why do banks decline people for credit cards that have bankruptcy?


mikey4833 wrote:

Gunnar419 wrote:

People (including me at one point) have been giving this guy advice for weeks and never once has he shown a sign that he's interested in taking any of it.

 

He just comes back and posts contradictory rants about the nature of his problem. Can't get cards after BK. Can only get crap cards. Has tons of cards he's proud of. Has a wife who's ruining his credit with her crazy debts. Has almost no debt. Etc.

 

@Mikey, why don't you slow down now that you've gotten all this very good advice and tell us what your plan is for getting out of the fix you're in, whatever that fix involves?


Hi Gunnar419 to answer your question I tried to answer everyones' question in that BIG long paragragh. My plan for getting out of the situation? I am gardening! no more applications as of right now today... I got a Lowes Card last night.... I stated that up there..I will keep it because I closed out a worthless QVC card that I had no use for and I replaced it with Lowes I can use it cause I shop there alot but no more apps that is a promise to everyone who gave me the advice. I thanked every one for their advice I said I have way more than enough cards I learned my lesson through BK and through all the good people on here who given me advice and all the rebuilding info I read. My motto is this... I'm going to be in gardening for 2-3 years from now at least to 2014 July 5 years after BK and all the inquiries will be gone in 2015... My wife doesn't have access to my cards anymore nore to hers I locked them up all her access cards.  I said I may lose my job because of health issues but I still will be ok even on just my wife's little $15,500 a year I pay my cards in full all except 1 business card balance of $580. I still got my business to back me up too I had a mini stroke at 29 years of age the Dr believes. I'm on a inhaler, heart medication, had a cat scan of my head done. I'm frightened and on edge about that just like that after my bday april 10 when I turn 29 I get all these health problems.  As far as bankruptcy goes I agree there should be no law so I am discontinuing that petition.


Great to hear!!!

 

Hope to see you posting frequently in the Garden threads, let us know of any score increases!!! Think positively and you'll get though this!




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Established Member
mikey4833
Posts: 90
Registered: ‎01-26-2013
0

Re: Why do banks decline people for credit cards that have bankruptcy?


LS2982 wrote:

mikey4833 wrote:

Gunnar419 wrote:

People (including me at one point) have been giving this guy advice for weeks and never once has he shown a sign that he's interested in taking any of it.

 

He just comes back and posts contradictory rants about the nature of his problem. Can't get cards after BK. Can only get crap cards. Has tons of cards he's proud of. Has a wife who's ruining his credit with her crazy debts. Has almost no debt. Etc.

 

@Mikey, why don't you slow down now that you've gotten all this very good advice and tell us what your plan is for getting out of the fix you're in, whatever that fix involves?


Hi Gunnar419 to answer your question I tried to answer everyones' question in that BIG long paragragh. My plan for getting out of the situation? I am gardening! no more applications as of right now today... I got a Lowes Card last night.... I stated that up there..I will keep it because I closed out a worthless QVC card that I had no use for and I replaced it with Lowes I can use it cause I shop there alot but no more apps that is a promise to everyone who gave me the advice. I thanked every one for their advice I said I have way more than enough cards I learned my lesson through BK and through all the good people on here who given me advice and all the rebuilding info I read. My motto is this... I'm going to be in gardening for 2-3 years from now at least to 2014 July 5 years after BK and all the inquiries will be gone in 2015... My wife doesn't have access to my cards anymore nore to hers I locked them up all her access cards.  I said I may lose my job because of health issues but I still will be ok even on just my wife's little $15,500 a year I pay my cards in full all except 1 business card balance of $580. I still got my business to back me up too I had a mini stroke at 29 years of age the Dr believes. I'm on a inhaler, heart medication, had a cat scan of my head done. I'm frightened and on edge about that just like that after my bday april 10 when I turn 29 I get all these health problems.  As far as bankruptcy goes I agree there should be no law so I am discontinuing that petition.


Great to hear!!!

 

Hope to see you posting frequently in the Garden threads, let us know of any score increases!!! Think positively and you'll get though this!


Thank you. I do think positively. I will post when ever I can in the gardening section my scores at TU go up my scores at other 2 bureaus go down theres some kind of mistake going on at TU sometimes my 15 bankruptcy accounts listed on my credit file come through while other times it doesn't. Like my Walmart Fico is 660 yet on this myfico quarterly monitoring only 1 on of my bk account comes through and my score jumps through the roof to 718-730. I don't have a split file there either its so weird. Its to my benefit though it hides all them accounts. Oh well in 3 years most will be gone anyways from all 3 bureaus and my scores on fico estimator show in 12 months I should be at 760-790 at Transunion but all my other will be in mid 600's or close to 699 range.  My father's credit mixes with mine sometimes. 12 years afo my father had a BK it came on my report at TU and it never wnt back on his he lost a bk way before its time to come off. I had some strange credit incidents over 12 -13 years since age 16 with my first Capital One Highschool teenager credit card co/signed by my mother. Now I just need to get my wife's credit cards paid off $2,000 a loan or just save $300 for 6 months and add a couple hundred bucks and payem all off.. I'm going to do that after summer is over save and tell my wife no to the loan at 26% APR for 5 years for a little $2000. I told her if you want that just pay the minimums for 5 years its cheaper interest then that. She wants some money to go crazy with  for her 50th bday, 


Starting Score: TU:599 EXP: 596 EQ: 595 Starting Year 2009
Current Score: TU:715 (685 FAKO) EXP:647 (673 FAKO) EQX: 637 (FAKO 615) - All on 04/24/13 In the garden until 05/2014 because too many inq and low AAoA 1.4 mo. My BK chap 7 will be 4 yrs old July 2013
Goal Score: 760+ across the board by next year July 2014 5 yrs after BK


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CreditScholar
Posts: 2,300
Registered: ‎01-22-2012
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Re: Why do banks decline people for credit cards that have bankruptcy?

Gunnar, sometimes it's just best to let people figure out stuff on their own. This thread is one long amusing joke to me, and it can be quite entertaining (if not painful to read at times). People need to sort their own mess out.
FICOs: EX: 826, EQ: 817, TU: 810
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Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012
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Re: Why do banks decline people for credit cards that have bankruptcy?

CreditCrusader: I just adored your last post on page 7. "I will keep asking Discover to dance until she says yes". Beautiful!

After going through a BK 7 & 13 and as I am now finally emerging and my ticket to primeville is being printed and being delivered this August. August 2013 will be when I am completely BK free! It will be a joyous day to not have any BKs on my report.

I look back on those times. They were rough but I made it to the other side. Unfortunately, the last place fresh BKers need to be is on the credit card forum. There is so much competition on this forum that folks with fresh BKs can not compete with and is causes anger, resentment, and even depression. When I was fresh out of BK, I was taking my son to the zoo, thankful I had the debit card I had to buy him a day with the animals. It's okay to come here every now and then to see what folks are getting approved for and their limits so you have an idea of what you want but spending a lot of time here with folks that have zero BKs, credit scores of 700-800, etc. is not healthy. It is like someone hanging out at the mortgage board with a score of 580. Not good. Or someone who obsesses over the lives of millionaires and billionaires...not good.

Focus on you OP. Focus on family and life and be grateful that you have so many cards so soon out of BK.

Don't get me wrong. We are all a team here but we must realize that when we say to others with likewise credit that the Freedom or Discover It should be approved, there are folks reading that were just denied for the Cap1 secured card. There are tiers that folks fall into on these boards and that acceptance that some folks are no where your status is a beautiful thing! We congratulate $500 approvals as much as we congratulate $5000 approvals. But we must never forget that there are folks reading that can't get approved for anything and that are reading to seek out the magic formula or quick fix to their credit woes when the only true quick fix is TIME. On this board, time is devalued with approvals and credit score increases that come in by the hour negating why a particular person was truly approved. The answer is TIME. Using the tools offered here over TIME leads to great credit. Folks with $20K limits have them because they used the right tools over an extended period of time. For folks with BKs, time somewhat freezes for them as they are rejected the foundation on which to use their tools, and that foundation is credit. Folks with BKs need to let the concrete dry before adding trade lines. That means the credit card forum is often premature. It is good to know what you can have once the foundation dries but to spend all of their time here is not good as it leads some people to obsess about credit. When I had 2 fresh BKs on my credit report, I knew that the last thing I should think about is credit cards. I begged subprime lenders to give me a loan for a car I desperately needed to get me back and forth to work so I could make the money needed to tend to my garden but I knew I was not unsecured prime material yet. I monitored my reports, paid my bills on time, and did other things other than reading online about folks getting prime cards with enormous limits or reading about folks closing on mortgages. Instead I engaged in things that I would be successful at as credit card denials just make you feel worthless. After getting denied a few times, I told myself I was done for awhile and that I was engaging in things outside of my league that were making me feel depressed and hopeless. Engage in things that are on your level and that bring worth to your life! As you graduate levels, you will be in the league of others here with prime cards. But after so many denials, I feel it is time for some of these folks to focus on other things.
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
Super Contributor
enharu
Posts: 7,132
Registered: ‎02-27-2013
0

Re: Why do banks decline people for credit cards that have bankruptcy?


mikey4833 wrote:

Gunnar419 wrote:

People (including me at one point) have been giving this guy advice for weeks and never once has he shown a sign that he's interested in taking any of it.

 

He just comes back and posts contradictory rants about the nature of his problem. Can't get cards after BK. Can only get crap cards. Has tons of cards he's proud of. Has a wife who's ruining his credit with her crazy debts. Has almost no debt. Etc.

 

@Mikey, why don't you slow down now that you've gotten all this very good advice and tell us what your plan is for getting out of the fix you're in, whatever that fix involves?


Hi Gunnar419 to answer your question I tried to answer everyones' question in that BIG long paragragh. My plan for getting out of the situation? I am gardening! no more applications as of right now today... I got a Lowes Card last night.... I stated that up there..I will keep it because I closed out a worthless QVC card that I had no use for and I replaced it with Lowes I can use it cause I shop there alot but no more apps that is a promise to everyone who gave me the advice. I thanked every one for their advice I said I have way more than enough cards I learned my lesson through BK and through all the good people on here who given me advice and all the rebuilding info I read. My motto is this... I'm going to be in gardening for 2-3 years from now at least to 2014 July 5 years after BK and all the inquiries will be gone in 2015... My wife doesn't have access to my cards anymore nore to hers I locked them up all her access cards.  I said I may lose my job because of health issues but I still will be ok even on just my wife's little $15,500 a year I pay my cards in full all except 1 business card balance of $580. I still got my business to back me up too I had a mini stroke at 29 years of age the Dr believes. I'm on a inhaler, heart medication, had a cat scan of my head done. I'm frightened and on edge about that just like that after my bday april 10 when I turn 29 I get all these health problems.  As far as bankruptcy goes I agree there should be no law so I am discontinuing that petition.


Ok I have a question regarding the part I underlined, bolded and put in blue.

Earlier, you said you re-established your business and make about 15k a year now, with your wife being unemployed.

Now you're saying your wife makes 15.5k a year, with you being jobless.

HOW AND WHY are you applying for any kind of credit if you are jobless? I am very confused.

Is it a joint app with your wife?

Whose income are you putting on the application?

And just to be sure, you did not lie or fudge anything on the credit apps, did you? If the banks one day decide to ask for your tax or other documents, will you be able to provide them? 

I'm just worried that you might be digging yourself into a whole new hole that you don't even realize.

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: Why do banks decline people for credit cards that have bankruptcy?


enharu wrote:

mikey4833 wrote:

Gunnar419 wrote:

People (including me at one point) have been giving this guy advice for weeks and never once has he shown a sign that he's interested in taking any of it.

 

He just comes back and posts contradictory rants about the nature of his problem. Can't get cards after BK. Can only get crap cards. Has tons of cards he's proud of. Has a wife who's ruining his credit with her crazy debts. Has almost no debt. Etc.

 

@Mikey, why don't you slow down now that you've gotten all this very good advice and tell us what your plan is for getting out of the fix you're in, whatever that fix involves?


Hi Gunnar419 to answer your question I tried to answer everyones' question in that BIG long paragragh. My plan for getting out of the situation? I am gardening! no more applications as of right now today... I got a Lowes Card last night.... I stated that up there..I will keep it because I closed out a worthless QVC card that I had no use for and I replaced it with Lowes I can use it cause I shop there alot but no more apps that is a promise to everyone who gave me the advice. I thanked every one for their advice I said I have way more than enough cards I learned my lesson through BK and through all the good people on here who given me advice and all the rebuilding info I read. My motto is this... I'm going to be in gardening for 2-3 years from now at least to 2014 July 5 years after BK and all the inquiries will be gone in 2015... My wife doesn't have access to my cards anymore nore to hers I locked them up all her access cards.  I said I may lose my job because of health issues but I still will be ok even on just my wife's little $15,500 a year I pay my cards in full all except 1 business card balance of $580. I still got my business to back me up too I had a mini stroke at 29 years of age the Dr believes. I'm on a inhaler, heart medication, had a cat scan of my head done. I'm frightened and on edge about that just like that after my bday april 10 when I turn 29 I get all these health problems.  As far as bankruptcy goes I agree there should be no law so I am discontinuing that petition.


Ok I have a question regarding the part I underlined, bolded and put in blue.

Earlier, you said you re-established your business and make about 15k a year now, with your wife being unemployed.

Now you're saying your wife makes 15.5k a year, with you being jobless.

HOW AND WHY are you applying for any kind of credit if you are jobless? I am very confused.

Is it a joint app with your wife?

Whose income are you putting on the application?

And just to be sure, you did not lie or fudge anything on the credit apps, did you? If the banks one day decide to ask for your tax or other documents, will you be able to provide them? 

I'm just worried that you might be digging yourself into a whole new hole that you don't even realize.

 


This is too complicated......

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Established Member
mikey4833
Posts: 90
Registered: ‎01-26-2013
0

Re: Why do banks decline people for credit cards that have bankruptcy?


LS2982 wrote:

enharu wrote:

mikey4833 wrote:

Gunnar419 wrote:

People (including me at one point) have been giving this guy advice for weeks and never once has he shown a sign that he's interested in taking any of it.

 

He just comes back and posts contradictory rants about the nature of his problem. Can't get cards after BK. Can only get crap cards. Has tons of cards he's proud of. Has a wife who's ruining his credit with her crazy debts. Has almost no debt. Etc.

 

@Mikey, why don't you slow down now that you've gotten all this very good advice and tell us what your plan is for getting out of the fix you're in, whatever that fix involves?


Hi Gunnar419 to answer your question I tried to answer everyones' question in that BIG long paragragh. My plan for getting out of the situation? I am gardening! no more applications as of right now today... I got a Lowes Card last night.... I stated that up there..I will keep it because I closed out a worthless QVC card that I had no use for and I replaced it with Lowes I can use it cause I shop there alot but no more apps that is a promise to everyone who gave me the advice. I thanked every one for their advice I said I have way more than enough cards I learned my lesson through BK and through all the good people on here who given me advice and all the rebuilding info I read. My motto is this... I'm going to be in gardening for 2-3 years from now at least to 2014 July 5 years after BK and all the inquiries will be gone in 2015... My wife doesn't have access to my cards anymore nore to hers I locked them up all her access cards.  I said I may lose my job because of health issues but I still will be ok even on just my wife's little $15,500 a year I pay my cards in full all except 1 business card balance of $580. I still got my business to back me up too I had a mini stroke at 29 years of age the Dr believes. I'm on a inhaler, heart medication, had a cat scan of my head done. I'm frightened and on edge about that just like that after my bday april 10 when I turn 29 I get all these health problems.  As far as bankruptcy goes I agree there should be no law so I am discontinuing that petition.


Ok I have a question regarding the part I underlined, bolded and put in blue.

Earlier, you said you re-established your business and make about 15k a year now, with your wife being unemployed.

Now you're saying your wife makes 15.5k a year, with you being jobless.

HOW AND WHY are you applying for any kind of credit if you are jobless? I am very confused.

Is it a joint app with your wife?

Whose income are you putting on the application?

And just to be sure, you did not lie or fudge anything on the credit apps, did you? If the banks one day decide to ask for your tax or other documents, will you be able to provide them? 

I'm just worried that you might be digging yourself into a whole new hole that you don't even realize.

 


This is too complicated......

 


FYI I still am working not full time at my current job where I made previously $44k a year I said I hope I don't lose my job because of my health. I make now about $1000 clear a month because I had to cut down Dr orders (no more salary because I'm under 40 hours a week and I make $500-$1000 a month from my business in profits there plus my wife gets $1269 a month in social security disability. I have use both our incomes on apps. Remember though I said I am not appying no more for credit not for at least 1 year and that is only for a business credit card. Yes I have all my tax documents I had to send those in to get that Applied Bank Visa Business Card it says under the patriot act you must be able to prove business existence and some cards ask for income info Cap 1 asked me for pay stubs and since I was self employed they wanted a copy of my personal bank account what I get in profit goes in there and they wanted proof of my wife's disability income. I hope I can get my business back up where it used to be or I'm going to find a light job somewhere else to make up the loss of my current job. Maybe my tests will come back ok enough to get back up to my old position 60-65 hours a week and see if I will be paid by the hour as now or back on salary pay. What I stated above was to show I never run up debt I cannot afford to repay. I could live absolutely jobless and live on my wife's income only if my health ever gets worse I won't get no ssi because my wife gets SSD and I don't have but 34 work credits I need 8 more 2 more years of work I'm trying to work at least 2 more years on my health I will always continue my business and its growing.


Starting Score: TU:599 EXP: 596 EQ: 595 Starting Year 2009
Current Score: TU:715 (685 FAKO) EXP:647 (673 FAKO) EQX: 637 (FAKO 615) - All on 04/24/13 In the garden until 05/2014 because too many inq and low AAoA 1.4 mo. My BK chap 7 will be 4 yrs old July 2013
Goal Score: 760+ across the board by next year July 2014 5 yrs after BK


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