topic Re: Chase Southwest Visa after bankruptcy in Credit Card Approvals

Chase Southwest Visa after bankruptcy

Anonymous — Mon, 25 Mar 2013 15:49:07 GMT

I am about 2.5 years out of bankrupcty, and would like to get a Southwest Airlines visa from Chase. I travel a lot for work, and could really benefit from the free flights.

I got remarried 1 year ago, and my husband has excellent credit. He added me as a user to another credit card (Amex) and we charge everything to it and pay it off in full every month. We charge between $7000-$9000 a month to it, and I pay on it twice a month to keep the balance looking like it is more like $3500-$4500 (don't let it get up to $9000 at any point i n time.)

The Amex does show up on my credit report and my credit score was 705 in Feb when I last checked. Does anyone know if the Chase Southwest Visa automatically rejects anyone with a bankruptcy? I don't want to risk lowering my credit score by applying if it is an automatic rejection....

Thanks!

Re: Chase Southwest Visa after bankruptcy

Anonymous — Mon, 25 Mar 2013 15:54:16 GMT

Chase does not consider AU credit history. AFAIK, the application asks if your cr history is free of bk. Also Chase likes to review apps based on the internal applicant score. Have you received any credit since your bk?

Re: Chase Southwest Visa after bankruptcy

Anonymous — Mon, 25 Mar 2013 15:55:38 GMT

Did you have past history with Chase? If you have any recent negative history with them, they seem to decline and don't really recon based on what I've read.

Re: Chase Southwest Visa after bankruptcy

Anonymous — Mon, 25 Mar 2013 16:01:52 GMT

No, I have not opened any new credit since bankruptcy. I figured AU wouldn't buy me anything, although my credit score does seem to be rising steadily. I don't need any credit, but I should probably do something to build my credit history back up. I'd just rather it be a card I would gain additional benefit from.

Re: Chase Southwest Visa after bankruptcy

Anonymous — Mon, 25 Mar 2013 16:03:23 GMT

Yes, I looked at the app online - and it does ask if your credit history is free of BK. I didn't know if that meant that it was an automatic disqualifier.

Re: Chase Southwest Visa after bankruptcy

Anonymous — Mon, 25 Mar 2013 16:07:05 GMT

Since you have not established any new credit IMO, your chances for approval would be 0%. Even without the bk, Chase likes to see 6-12 mos of revolving credit. I would start with a secured cc, a GE backed card and/or Cap 1. Assuming of course, you did not burn any of them in your bk.

Re: Chase Southwest Visa after bankruptcy

Anonymous — Mon, 25 Mar 2013 16:13:42 GMT

SInce it sounds like Chase is looking at Experian, I just checked my score there -- it's at 740. To try or not to try?

Re: Chase Southwest Visa after bankruptcy

Anonymous — Mon, 25 Mar 2013 16:18:06 GMT

Let me say it again, Chase does not look at the FICO score when approving a cc. chase is not that bk friendly. You need to have 6-12 mos revolving credit ( your own credit) and even more after filing a bk. you indicated that you do not have any credit, have not re-established your own credit and filed for bk.

Ultimately it is up to you but based on your cr- you will be wasting a Hp.

Re: Chase Southwest Visa after bankruptcy

Anonymous — Mon, 25 Mar 2013 16:18:52 GMT

Also, you cannot buy/obtain a real EX score- unless its provided by a lender.

Re: Chase Southwest Visa after bankruptcy

Anonymous — Mon, 25 Mar 2013 16:33:36 GMT

Thanks for the advice!

Re: Chase Southwest Visa after bankruptcy

Rhaeny — Mon, 25 Mar 2013 16:57:47 GMT

I tend to agree with everyone who says that you need to have new CL's established on your on for Chase, especially after a bk. Now a bk doesn't necessarily mean a bk except I believe on the automatic computer generated decisions. I was just approved for a Chase Freedom and my bk is 6 years old. It was initially denied strictly due to the bk but on recon approved. With you not having any established credit you don't have anything for them to judge your own creditworthiness. Actually the Chase agent told me that if I hadn't done so well restablishing that he couldn't have approved it.

Now the length of time after the bk I'm not sure of, but with prime players like Chase I don't think 2.5 years is long enough. What about Barclay's? I think you have an excellent chance with them and they have a great rewards card.

Re: Chase Southwest Visa after bankruptcy

Anonymous — Mon, 25 Mar 2013 17:09:15 GMT

Thanks for the suggestion. My credit union has pre-approved me for a mastercard, so I might just go with that to re-establish my own rev credit.

Re: Chase Southwest Visa after bankruptcy

Anonymous — Mon, 25 Mar 2013 17:11:24 GMT

Excellent idea. Chase is not out of reach- just a little down the road.

Good luck.

Re: Chase Southwest Visa after bankruptcy

Rhaeny — Mon, 25 Mar 2013 17:11:33 GMT

@Anonymous wrote:
Thanks for the suggestion. My credit union has pre-approved me for a mastercard, so I might just go with that to re-establish my own rev credit.

Make sure they report to all 3 credit bureaus. If it is a smaller CU it may not. In that case I would still go for a Barclay's whether the CU reports or not.

Re: Chase Southwest Visa after bankruptcy

Anonymous — Mon, 25 Mar 2013 17:14:58 GMT

Rhaeny, Barclays for a first card after bk? I know they are bk friendly but wasn't sure it would be that friendly. I know some people dislike Cap 1 but they are good for post bk too.

OP, I just wouldn't apply to anyone you filed on.

Re: Chase Southwest Visa after bankruptcy

Rhaeny — Mon, 25 Mar 2013 17:20:31 GMT

@Anonymous wrote:
Rhaeny, Barclays for a first card after bk? I know they are bk friendly but wasn't sure it would be that friendly. I know some people dislike Cap 1 but they are good for post bk too.

OP, I just wouldn't apply to anyone you filed on.

I though Allstar had 2.5 years since bk? I only had 1 month out of dishcarge last year and they approved me for $2K. Allstar's scores are higher now than mines was at app time so that's why I thought it was a good suggestion. Maybe I'm an oddball...LOL!!

Re: Chase Southwest Visa after bankruptcy

Anonymous — Mon, 25 Mar 2013 17:24:23 GMT

Sorry, I was asking the question not implying you were wrong. I know they are bk friendly and with her AU history she has a good shot. I just didn't know how 'friendly' they were...which is why I love this forum! Always someone with experience and useful knowledge.

Re: Chase Southwest Visa after bankruptcy

Rhaeny — Mon, 25 Mar 2013 17:29:18 GMT

@Anonymous wrote:
Sorry, I was asking the question not implying you were wrong. I know they are bk friendly and with her AU history she has a good shot. I just didn't know how 'friendly' they were...which is why I love this forum! Always someone with experience and useful knowledge.

Oh no, I didn't think you were implying anything at all. That's the problem with this type of communication and how the words that we choose can be misconstrued. I felt absolutely nothing at all negative from you. We are good Lexie!

Re: Chase Southwest Visa after bankruptcy

Anonymous — Mon, 25 Mar 2013 17:30:41 GMT

I'm not as knowledgeable as all of you about what the differences are between what I can see on my credit report vs what the lender sees. But my 3 scores today ar 736, 740, 736. The Amex I use and pay off monthly does not say anything about AU on it. I think it's kind of crazy my scores have gone up that significantly. I have not applied for ANY credit in years (and certainly not since BK). I don't want to apply for anything -- but I know I SHOULD. Maybe it's just a reporting mistake.

Re: Chase Southwest Visa after bankruptcy

Anonymous — Mon, 25 Mar 2013 17:53:02 GMT

On your cr report how does it list the 'responsibility' for American Express?

Rhaeny- yes, we are all good!