Question about applying for cards

[Anonymous]

I tried searching on google and on the forums but couldnt find what I was looking for, my question is if I had a charge off for a certain credit card, after paying the charge off will that bank consider giving me a credit card ever again? I had a Discover student card in 2010 it was charged off in 2011 or 2012 I cant remeber, I put off paying it, but Discover sued me in December of 2014 and I setteled with them. I was reading that some people would apply for the Discover Student card and be offered a Discover Secured card and I am fine with that, but do you think they will offer that to me? Or reject because of the poor history with them. Do you think I should apply?

my Fico scores EX: 609, TU 595, EQ 609. Two accounts in collections paid in full. 5 Derog accounts charged off and settled (including Discover). 3 active cards one is 7 month old, Cap1 Secured, 4 months old Cap1 QuickSilver, and 1 month old Cap1 BuyPower Card. All with balances under 5 dollars.

[Anonymous]

I can tell you what my wife and I are currently going through - in that regard.

Due to a whole myriad of things - my wife took down about 100K in credit cards from various banks about 6 years ago.

We are fine financially again - but her scores are decidedly better than mine (close to 700)... mine are 660-680s...

Her credit is in mortgage and cars - she has good pay history there - and the credit card take down has mostly fallen off her report.

However, she can't get credit cards to save her life - I think she's got 4. Small limits (like $250 store cards- and a merrick bank secured etc).

I have a worse score - and $20K in limits spread across 28 cards.

She can't begin to get cards because she took down each of the major issuers... and her denial letters state as much.  

It may come off your credit report after 7 years - but that doesn't mean that the BANKS FORGET!

YMMV.

[Anonymous]

Most of the CCCs do carry an internal list.

Some of them will let you back in if you have settled with them.

Amex, for one, is very notorious for not letting you back in unless you have PIF.

I am in a similar position, but with smaller numbers.  My COs will roll off in 2016 and I will be testing the waters with my past after that.

I have heard that Cap1 is very forgiving if you have settled with them.

hth

[Anonymous]

I know I am blacklisted with Barclays, and assume I am with AmEx and Discover. After a few years a couple of banks might forgive, but they definitely never forget. Good luck.

[Anonymous]

I was hoping that wasn't the case, thanks for the replies. I have settled with Citi, Barclay's, Discover. Anyone had any luck getting a card from either of these three after settling?

[Anonymous]

In 2004 I settled with Discover for "less than full amount"   I think I paid about $7k on a $12K debt.   Anyway - last week I was able to get a DiscoverIT card.   Low limit $500 - but I got in the door.

Also - I took a HUGE settlement withc Chase at the same time - I think I paid $9K on amost $18K - I haven't tried to get back in on a CC - but I was given an auto loan with Chase almost 3 years ago - I don't know if the divisions cross referenced - but I was shocked I got a car loan with them at the time.

I currently have 2 Cap Ones and the Discover card - trying to rebuild since most everything is off my CR.....Just a few more little things to go.

[Anonymous]

Ok - and just to see what would happen - I decided to apply with CHASE this morning - figured what the heck.....I had to call in and verify info - but I got a card with $500 limit! I couldn't believe it. 

At least they took a chance on me again!

[Anonymous]

Congrats! 

[Anonymous]

That's great!

[Anonymous]

Thats great! congrats good to see that chase gives second chances.

I called Discover Executive Office of Customer Advocacy to see if they could assist me in getting a secured card, they said it only appears if you are declined for there normal card and meet certain elegibility requirements, nothing they have control of. And that people that have settled in the past with Discover do come back to the Discover family, all depends on your current credit report if there has been no recent delenquiences etc. I think im going to wait on applying, CitiBank was reporting late because it was charged off every month until June when I settled I sent them a goodwill yesterday hopefully something happens.