topic Re: AMEX + more after BK! in Credit Card Approvals

AMEX + more after BK!

lizabeth — Fri, 22 Apr 2016 03:02:19 GMT

Just to give hope to others who went through ch 7 BK. (note: zero lates in 4 years with cap one credit cards & cap one auto loan)

April 2016 app spree this past weekend with scores in the 660-680's, 5 years discharged.

Discover - DENIED
Barclays Ring - approved $5,000
Capital One Quiksilver Rewards - approved $3,000
Capital One Venture One- processing (being manually reviewed due to double app)
AMEX Everyday - approved instantly $500 (what?)
AMEX Blue Cash - approved $5,000 (yes!!) (after being manually reviewed due to double app)

+ Auto Loan 3 weeks old with Teachers Credit Union - 4% APR! (my previous capital one auto loan opened shortly after BK was 11%!)

I am DONE for many years and look forward to gardening!

p.s.

Can anyone tell me why AMEX gave me such a puny $500 limit on the Everyday card, and just 3 days later $5,000 on the Blue Cash??? Any ideas? I don't plan to close that card but I was stunned when I saw such a small opening credit line.

Re: AMEX + more after BK!

Anonymous — Fri, 22 Apr 2016 02:27:01 GMT

Nice. Conrats

Re: AMEX + more after BK!

lizabeth — Fri, 22 Apr 2016 02:51:46 GMT

thanks! excited to have a good set of cards to move forward with. I wouldn't wish the circumstances of BK on anyone (I was young and dumb) but it def jump started the desire to learn how to better manage credit. so ecstatic to be heading toward 700's!

Re: AMEX + more after BK!

wachme — Fri, 22 Apr 2016 02:59:53 GMT

I concur with your last statement. I'm 7+ years removed and I've been clawing my way back ever since. My SL with Amex was pretty favorable as my scores were a bit higher than yours at the time. However, I know for a fact Amex will grow with you as you treat them right and continue to enhance your overall credit. I pretty much doubled my CL with them in one shot. Keep at it and congrats!

Re: AMEX + more after BK!

RonM21 — Fri, 22 Apr 2016 03:14:22 GMT

Congrats on all of the approvals!

Re: AMEX + more after BK!

Anonymous — Fri, 22 Apr 2016 06:07:12 GMT

Congrats! Nicely done!

Re: AMEX + more after BK!

alextercero — Fri, 22 Apr 2016 06:33:22 GMT

Congrats

Re: AMEX + more after BK!

TXinandout — Fri, 22 Apr 2016 14:31:19 GMT

Well done!

Re: AMEX + more after BK!

Anonymous — Fri, 22 Apr 2016 19:24:06 GMT

Just curious.

Has anyone here who's been approved by Amex, post discharged BK 7 or 13, burned Amex in your proceedings?

thanks

Re: AMEX + more after BK!

lizabeth — Fri, 22 Apr 2016 19:35:29 GMT

This is my first time with AMEX so I cannot shed light. However I did sadly burn Discover in my bk and they just burned me with a denial.

Re: AMEX + more after BK!

Anonymous — Tue, 07 Jun 2016 13:04:06 GMT

congrats! when was your BK discharge? Did you burn amex?

Re: AMEX + more after BK!

lizabeth — Tue, 07 Jun 2016 13:10:00 GMT

Thanks! My BK discharged in 2011, so I'm 5 years in and I did not have Amex prior to BK.

Re: AMEX + more after BK!

aussiesareforever — Tue, 07 Jun 2016 14:34:21 GMT

Congrats. Love to read happy BK stories.

I was also young and stupid but it did spur me towards being a lot more financially responsible.

Re: AMEX + more after BK!

Andy77 — Tue, 07 Jun 2016 16:02:22 GMT

Congrats !!

How old was your ch 7 bk tradeline when you got approved for the Amex?

Mine was about 6 yrs old when they denied me, twice

It is now 7 years old...if you got approved when yours was 7 years old, I might wait until 7.5 and try again

Re: AMEX + more after BK!

lizabeth — Tue, 07 Jun 2016 16:23:20 GMT

I was 5 years into my discharged BK when I went for Amex and was approved. I had flawless credit history since BK and had an auto loan w/capital one and two credit cards w/capital one within those 5 years that were in good standing. I'm clueless as to why they approve some and deny others but it seems it wasn't due to the length of time out of a BK.

Re: AMEX + more after BK!

Andy77 — Tue, 07 Jun 2016 16:40:51 GMT

Yes that is a mystery to me, too. So at 5 years out you did still have all the negative accounts on your CR, as I did

I just got off the phone from them, the denial reasons the lady read me were:

-Judgement or collection on file (I had the ch 7 bk tradeline and all my negative accounts associated when I applied, like you did)

-Length of time accounts have been established (my oldest account was 6 years old)..opened two months after bk discharge

-Balances in relation to credit limits too high (this I am going to fix)

None the less Congrats to you...this gives me a lot of hope to reapply again.

Re: AMEX + more after BK!

Anonymous — Sun, 17 Jul 2016 21:29:14 GMT

Amex starting lines were based on minimum starting product limit for Amex. All of the non reserve/preferred limits can go as low as $500. Preferred is $5000+ similar to visa signature, can't get one under.

Re: AMEX + more after BK!

northface28 — Sun, 17 Jul 2016 23:58:10 GMT

I'm surprised you didn't get a Discover but got not 1 but 2 Amex? Wow, nice job.

Re: AMEX + more after BK!

nrm — Mon, 18 Jul 2016 00:18:37 GMT

Congrats, OP!

Re: AMEX + more after BK!

grillandwinemaster — Mon, 18 Jul 2016 01:45:50 GMT

Amex after bk, wow!!

Congrats!