topic Re: Discover It after bankruptcy in Credit Card Approvals

Discover It after bankruptcy

Anonymous — Sat, 20 May 2017 15:40:56 GMT

My bankruptcy was discharged almost two years ago. Since then I've opened 3 credit cards : credit one 300
Capital One Quicksilver one 1550 and newly upgraded Capital One Quicksilver from Platinum 750. According to credit karma I had fair approval odds for Amex everyday blue cash. So I applied and got denied because of bankruptcy. My fico now is a 620 and all other scores are around 635. I just did the discover prequalify tool and it didn't not say that i pre qualified. It also didn't say there were no offers. Instead the Discover it card popped up being compared to a capital One Quicksilver with all the features. Should I apply? I'm so nervous, because of my denial from Amex. Before the Amex app I didn't apply for credit for almost a year. I also plan to finance a car next month with the help of capital One Auto Navigator. Should I wait until financing is done? I'm really in no rush. I just want more credit lines to boost my score past the 650 mark.

Re: Discover It after bankruptcy

CreditCuriosity — Sat, 20 May 2017 15:46:03 GMT

Disocver tends to like people out of BK's from the 100's of posts I have read on this forum with BK approvals w/regards to Disocver.. Maybe it is because they can't file again for x years or they think a person will be loyal.. Alot of very good success stories about Dsiccover approving out of BK usually about 8 months to a year after discharge. Will let some of the BK people ring in on this one, but IMO it is part of their business model is to approve people with fairly recent BK discharges. I personally think you have a pretty dang good change being two years out. Obviously make sure your DTI and utilization are good before considering applying, etc.

Re: Discover It after bankruptcy

Anonymous — Sat, 20 May 2017 21:50:49 GMT

I was approved for a $2500 Discover It in March, about 2 years and 4 months after being discharged from Chapter 7 BK. Not only did Discover seem to consider me a good prospect as a customer, they aggressively pursued me. I was getting mailers from them literally every week offering their best available terms, a solid single-figure 23.49% APR plus 0% APR for the first calendar year on purchases and balance transfers. As a matter of fact, I was still getting mailers from them for several weeks after I'd applied and been approved!

Re: Discover It after bankruptcy

Anonymous — Sun, 21 May 2017 04:07:22 GMT

I was 8 months discharged when Discover email me an offer. i had a capital One Secured card at the time in which i was approved in January with 251 SL but I applied for the offer by Discover on April 26 and was approved for 1600SL. At the time applied my FICO 8 was EQ: 650 TU: 611 EX: 637

Re: Discover It after bankruptcy

Anonymous — Sun, 21 May 2017 04:39:56 GMT

I would wait to apply, keep checking the pre approvals ever so often. You will know when you are pre approved for discover when you get a specific apr.

Re: Discover It after bankruptcy

kberly69 — Sun, 21 May 2017 13:59:18 GMT

I'm biding my time for a Discover too. I learned to ignore Credit Karma and the like - they tell me Chase and Amex would want me but I know that's not true for a few years at least.

Re: Discover It after bankruptcy

JR_TX — Sun, 21 May 2017 15:26:53 GMT

Discover took me back in exactly 2 years ago in 2015 4 years out of my BK7 in 2011. My EQ F8 was in the 650s with about 3-4 INQs and Although I already have a few positive TLs when they approved me, they still gave me a 2nd chance considering I burned them for about $6K on my bk. So yeah Discover is not so sensitive when it comes to bk IMO but YMMV of course. I think you should give it a shot OP especially if you're not that worried about 1 hp.

Re: Discover It after bankruptcy

creditmonger — Sun, 21 May 2017 15:33:16 GMT

Pull the trigger and apply.

BK13 DC in 12/15 (NOT IIB) and approved for $6K SL in 2/16. Current limit is $10.5.

No CLI's for the past six months tho.

Good luck.

Re: Discover It after bankruptcy

Anonymous — Mon, 22 May 2017 18:09:25 GMT

I'm 2 months post DC on a chapter 13. Was just approved for a Disco for $800 (IIB), mine was a cold app. Hubs was declined, interesting as his scores are higher.

Re: Discover It after bankruptcy

Anonymous — Mon, 22 May 2017 18:25:12 GMT

@kberly69 wrote:
I'm biding my time for a Discover too. I learned to ignore Credit Karma and the like - they tell me Chase and Amex would want me but I know that's not true for a few years at least.

The mere fact that CK keeps telling me I have a "good chance" of getting a Chase card when I know for a fact that they won't even look at my application past the bankruptcy item on the report for seven years or more yet is just proof that their recommendations are for the birds. As for Discover, you'll know they seriously want you as a customer when they start sending you mailers - as they did me - with small-range or single-figure APR's.

Re: Discover It after bankruptcy

Anonymous — Mon, 22 May 2017 21:01:49 GMT

So I applied today and got approved!! $2600 sl. I'm so excited! Although I have Capital One cards none at that credit limit. It feels good to have a discover! How often is the CLI's every 6 months?

Re: Discover It after bankruptcy

CreditCuriosity — Mon, 22 May 2017 21:09:33 GMT

Congrats.. Figured you would get it! CLI's is anyones guess as discover is going through a weird time.. Typically 1-3 months, but lately hasn't really followed that pattern and not a lot of people are getting them.

Re: Discover It after bankruptcy

Anonymous — Mon, 22 May 2017 21:42:22 GMT

Either way I'm super happy to be apart of the family! I'm not going to try for a CLI until over 6 months anyway.

Re: Discover It after bankruptcy

AverageJoesCredit — Mon, 22 May 2017 23:34:14 GMT

Well done Mekhail, Welcome to the Discover family . Great way to rebuild your credit

Re: Discover It after bankruptcy

Anonymous — Thu, 25 May 2017 17:17:25 GMT

I am 10 months post discharge this month and got approved for Discover it card for $1000 limit. My Fico score at that time was 651,646, 658. I think you have a pretty good chance. Good luck

Re: Discover It after bankruptcy

Anonymous — Tue, 04 Jul 2017 15:59:51 GMT

I am 1 year, 3 months out of bk. I have a pretty good rebuild. Discover is also not saying yay or nay on the prequal site. Just offering me 0% for 14 months and the 11-23 variable after that. They denied me a few months ago. Should I wait? My scores are EX 653, TU 636, and EQ 646.

Re: Discover It after bankruptcy

austinguy907 — Tue, 04 Jul 2017 16:25:20 GMT

THat's going to be a no.

If you get the response with a single APR or even the 3% spread then you're chances are a lot higher than the full monty.

Re: Discover It after bankruptcy

Anonymous — Tue, 04 Jul 2017 17:00:16 GMT

@Anonymous wrote:
I am 1 year, 3 months out of bk. I have a pretty good rebuild. Discover is also not saying yay or nay on the prequal site. Just offering me 0% for 14 months and the 11-23 variable after that. They denied me a few months ago. Should I wait? My scores are EX 653, TU 636, and EQ 646.

I would wait at least 6 months from last denial. Last June, I was denied for the secured Discover 🙁. In December, I apped for the regular Discover and was approved. I did not receive any mailers or a prequalified offer (I had the wide range).

I think in my case, that 6 months worth of history with my other cards, made the difference.

Re: Discover It after bankruptcy

Anonymous — Tue, 04 Jul 2017 21:57:09 GMT

@Anonymous wrote:
Either way I'm super happy to be apart of the family! I'm not going to try for a CLI until over 6 months anyway.

Congratulations - you scored $100 higher than I did when I got my own Discover! Don't get too set in stone about waiting 6 months to ask for a CLI. I was expecting Discover to do its auto-CLI this month, but they surprised me and gave it to me on June 10th, only about 80 days after I'd been approved. I took the chance and hit the luv button, getting an extra $300 to tack on to the $500 auto-CLI and bringing my line to $3300.

Discover has been really wonky about CLI's lately since a March 29th software update that was supposed to address CLI problems with formerly secured cards which had graduated (but I hear that problem has apparently cropped up again). However, the way it's supposed to work is that you can apply for (and theoretically usually get) CLI's on a 30/31, 60/61, or 90/91-day schedule starting from your first CLI. The only way to know for sure is to hit the button on the anniversary date and see what happens. For me, that's June 10/11, so let's hope I have something good to report next week even if it's only a few hundred dollars extra.

Re: Discover It after bankruptcy

Anonymous — Sun, 23 Jul 2017 16:38:02 GMT

Hi there.

I'm 3 months post Ch. 7 BK discharge and was just approved for a $2,400 CL on the Discover IT card. I'd say go for it.

@Anonymous wrote:
My bankruptcy was discharged almost two years ago. Since then I've opened 3 credit cards : credit one 300
Capital One Quicksilver one 1550 and newly upgraded Capital One Quicksilver from Platinum 750. According to credit karma I had fair approval odds for Amex everyday blue cash. So I applied and got denied because of bankruptcy. My fico now is a 620 and all other scores are around 635. I just did the discover prequalify tool and it didn't not say that i pre qualified. It also didn't say there were no offers. Instead the Discover it card popped up being compared to a capital One Quicksilver with all the features. Should I apply? I'm so nervous, because of my denial from Amex. Before the Amex app I didn't apply for credit for almost a year. I also plan to finance a car next month with the help of capital One Auto Navigator. Should I wait until financing is done? I'm really in no rush. I just want more credit lines to boost my score past the 650 mark.