topic Re: Can I ever have a Chase, Citibank BofA, Amex, again post Chapter 7? in Bankruptcy

Can I ever have a Chase, Citibank BofA, Amex, again post Chapter 7?

Anonymous — Thu, 26 Mar 2015 20:33:22 GMT

Frustrated here!

I filed Chapter 7 and was discharged in August of 2009. I did include debts on Chase, BofA and Amex. Is it true that I will never be able to have accounts from them again, even when the filing falls off in 2019? I have heard stories that they never reapprove you if you have defaulted in the past.

Also, when do things really start improving? I have been stuck with $5,000 limits on my cards even as I approach year 6. Is there a magic time, say 7 years out or 8 years out? I'm assuming both the delinquent payments and the bankruptcy drop off at 10 years, is that correct?

Thanks fot the help.

Re: Can I ever have a Chase, Citibank BofA, Amex, again post Chapter 7?

Scupra — Thu, 26 Mar 2015 21:07:34 GMT

@Anonymous wrote:
Frustrated here!

I filed Chapter 7 and was discharged in August of 2009. I did include debts on Chase, BofA and Amex. Is it true that I will never be able to have accounts from them again, even when the filing falls off in 2019? I have heard stories that they never reapprove you if you have defaulted in the past.

Also, when do things really start improving? I have been stuck with $5,000 limits on my cards even as I approach year 6. Is there a magic time, say 7 years out or 8 years out? I'm assuming both the delinquent payments and the bankruptcy drop off at 10 years, is that correct?

Thanks fot the help.

With the lenders you listed it will be hard to get back in once burning them. As far as limits go, it isn't all about time. Plenty of things go into deciding a limit.. lender, usage, payment history, income, amount of avail credit, etc...

Re: Can I ever have a Chase, Citibank BofA, Amex, again post Chapter 7?

RaiseMyScoreASAP — Thu, 26 Mar 2015 21:14:44 GMT

Which cards do you currently have and what are the limits on each?

I ask myself this question: if a friend borrowed $5,000 from me six years ago and didn't pay it back and then showed up today asking to borrow another $5,000, what would I say? I probably would not lend/give the person the money. Even though old charge offs and late payments drop will eventually drop off your credit report, they won't in general drop off of the creditor's internal computer.

A few weeks ago I was pre-approved for all the Bank of America cards and have banked with them since 1988. However, I had a charge off from 1990 from a bank that Bank of America later acquired. BOA denied my application based solely on the bad relationship with the acquired bank. I can however voluntarily pay back the money to BOA and they would approve me for a card.

With AMEX, they took me back into the fold after they closed two of my accounts in 1995. So if you are willing to wait 20 years, then you can probably get back the AMEX although there is no guranatee. I was prepared to pay back the original amounts owed to AMEX, but wasn't required to do so. I was approved for a charge card. However, it is very likely I would pay off those amounts before I would apply for a revolving credit card with them. AMEX is a great card, but the magic of that card is the back dating to your original member date. In my case, an additional 28 years of age is added to my AAOC with each "new" AMEX. I consider myself very fortunate that AMEX forgave me and welcomed me back to the family.

So, I would find out the amounts you owed and if you really want to do business with these companies then voluntarily pay what you owe and request forgiveness. It's a total cost/benefit analysis. I can tell you, however, that there is a very positive carthartic feeling that comes with acceptance.

Re: Can I ever have a Chase, Citibank BofA, Amex, again post Chapter 7?

Scupra — Thu, 26 Mar 2015 21:57:55 GMT

RaiseMyScore: How do you pre qualify for Bank of America cards? thanks!

Re: Can I ever have a Chase, Citibank BofA, Amex, again post Chapter 7?

shols44 — Thu, 26 Mar 2015 23:37:08 GMT

@Anonymous wrote:
Frustrated here!

I filed Chapter 7 and was discharged in August of 2009. I did include debts on Chase, BofA and Amex. Is it true that I will never be able to have accounts from them again, even when the filing falls off in 2019? I have heard stories that they never reapprove you if you have defaulted in the past.

Also, when do things really start improving? I have been stuck with $5,000 limits on my cards even as I approach year 6. Is there a magic time, say 7 years out or 8 years out? I'm assuming both the delinquent payments and the bankruptcy drop off at 10 years, is that correct?

Thanks fot the help.

Short answer-Yes......but it takes time.

Chase-The absolute wait is anywhere from 9-10 years or 3 years! There is at least one report of a successful ap within 2.5, and soulmaster on this very board at 3 years. It will involve recon. I burned chase and reapplied at 3 years. I reconned and was told "I already have too much credit,"but i was very close to landing the CSP. 2nd call desperately wanted to approve me but cited I had 0.1% util on almost 60K at the time, and that I didn't have any other business relationship with chase.

Amex- Standard is 10 years, but reports of approval at year 8 with BK reporting. Paying and going to oasis route may accelerate re-entry.

Citi- 10-12 years.

BOA- as early as 7 years per blacklist thread.

As always YMMV. Income, business relationships and credit performance since IIb will make a difference.

Google master blacklist thread and subscribe.

Re: Can I ever have a Chase, Citibank BofA, Amex, again post Chapter 7?

Anonymous — Fri, 27 Mar 2015 01:55:57 GMT

@Anonymous wrote:
Frustrated here!

I filed Chapter 7 and was discharged in August of 2009. I did include debts on Chase, BofA and Amex. Is it true that I will never be able to have accounts from them again, even when the filing falls off in 2019? I have heard stories that they never reapprove you if you have defaulted in the past.

Also, when do things really start improving? I have been stuck with $5,000 limits on my cards even as I approach year 6. Is there a magic time, say 7 years out or 8 years out? I'm assuming both the delinquent payments and the bankruptcy drop off at 10 years, is that correct?

Thanks fot the help.

Never say never.. But it will depend on how much you burn them for. How much where each debts for this companies if you don't mind me asking. These companies have loooooong memories. It you didn't burn them much, then there is a chance you will get in after a few years...

Re: Can I ever have a Chase, Citibank BofA, Amex, again post Chapter 7?

jim44 — Fri, 27 Mar 2015 18:28:59 GMT

OP.. All good answers here and I agree YMMV. I was 6 months out of CP7 and needed a car. WF was IIBK, however WFDS did finance a car for me at that time. My secured card with BOA just graduated after 9 months. I was denied with Chase after recon when the primary reason was bankruptcy. The CA told me that I had a high utilization with one card that was the reason for the 2nd denial. Both Discover and Citi told me that after time BK becomes less and less a reason for denial. Stay on course, and the best of luck with your journey.

Re: Can I ever have a Chase, Citibank BofA, Amex, again post Chapter 7?

somotao — Mon, 15 Jun 2015 17:42:16 GMT

This is a very intersting thread to read and thanks OP for initiating it.

Here's my case BK7 Filed in 2010. I Included Bank of America, City Chase and Wells Fargo in my BK (mind you these were all real estate loans) no Credit card loans in my BK. I did have very bad usage of credit cards before filing for BK...they were all settled before the filing. I have also been banking with Wells fargo and Bank of America for over 10 years. Everytime I go into the bank they keep asking me if I want a credit card. Knowing my BK would be a hinderance I usually decline.

I walked into Bank of America last month to apply for their rewards credit card, did not get a response immediately, I was told I would get something in the mail. A few weeks pass and I have a letter here statingThanks for applying but they are unable to approve my original request, However I have been preselected to receive the BankAmerica Rewards Platinum Visa card with a $500 Credit Limit. There's even a note at the bottom of the letter stating that they based the decision on previously filed BK.

I currently have Cap1 Quick Silver, Barclays Reards Visa and Discover with very decent limits. Also have amazon store card and Walmart card. I recently paid of a two year lexus financial car loan. I was trying my luck at the prime guys. I most probably will accept the Bank of America offer and shoot for Chase and Amex in December when i will be 5 years post BK7.

Re: Can I ever have a Chase, Citibank BofA, Amex, again post Chapter 7?

DaveInAZ — Mon, 15 Jun 2015 18:30:51 GMT

@somotao wrote:
This is a very intersting thread to read and thanks OP for initiating it.
Here's my case BK7 Filed in 2010. I Included Bank of America, City Chase and Wells Fargo in my BK (mind you these were all real estate loans) no Credit card loans in my BK. I did have very bad usage of credit cards before filing for BK...they were all settled before the filing. I have also been banking with Wells fargo and Bank of America for over 10 years. Everytime I go into the bank they keep asking me if I want a credit card. Knowing my BK would be a hinderance I usually decline.

I walked into Bank of America last month to apply for their rewards credit card, did not get a response immediately, I was told I would get something in the mail. A few weeks pass and I have a letter here statingThanks for applying but they are unable to approve my original request, However I have been preselected to receive the BankAmerica Rewards Platinum Visa card with a $500 Credit Limit. There's even a note at the bottom of the letter stating that they based the decision on previously filed BK.

I currently have Cap1 Quick Silver, Barclays Reards Visa and Discover with very decent limits. Also have amazon store card and Walmart card. I recently paid of a two year lexus financial car loan. I was trying my luck at the prime guys. I most probably will accept the Bank of America offer and shoot for Chase and Amex in December when i will be 5 years post BK7.

Holy thread resurection! Well, not that old a thread and it does have alot of useful info. My 2010 BK7 was almost entirely CC debt and that definitely holds me back with prime CCs. I have 9 IIB derog accounts, 1 is my mortgage that I didn't reaffirm & was discharged but I'm still paying & never a late, just no one knows except me & therm. The others are all CCs, Chase x2 to the tune of $18k+, I don't expect to ever do biz with them again. Cap One x2 to the tune of $18k+, I avoided them for several years, then after joining MyFico and seeing how BK forgiving them I apped last fall and netted a QS sig Visa w/$10k SL. Citi x3 to the tune of $22k , I'd put them in the same category as Chase but I actually have a card from them, through the "back door" - Best Buy MC originally issued as a sub prime card by HSBC which Citi acquired, and they even approved a $1k CLI last fall. Their pre-qual site still say 'we go nothin' for you', Maybe in a couple more years .....

I'm doing great with Cap One, Barclays Rewards MC & NFL Visa, and Synchrony Walmart & Lowes. I've never done any biz with BoA but did burn them for one card which they acquired from another lender. I really want a Fidelity Amex so I recently apped & was approved for a secured CC to start working my way back into their good graces. Discover hates me for some reason even though I've never done biz with them either; well, I'm not going to waste time & effort chasing the least accepted card. US Bank also hates me even though we've never done any biz. A recent check on their pre-qual site resulted in them offering me a secured card, previously they always said 'nuthin fer you'; sorry fellas, you're no Bank of America and aren't worth it.

Re: Can I ever have a Chase, Citibank BofA, Amex, again post Chapter 7?

somotao — Thu, 18 Jun 2015 16:55:39 GMT

I still haven't accepted the offer. $500 credit limit seems just too low for me......Not sure it is worth it just to get back in with Bank of America......at the same time I really don't want to waste my inquiry. End of this year will be 5 years post BK7 so will be looking to try for Amex and Chase.

Re: Can I ever have a Chase, Citibank BofA, Amex, again post Chapter 7?

morgacj2004 — Tue, 30 Jun 2015 23:07:34 GMT

My hx with those banks is as follows: My Chapt 7 BK was discharged in Nov 2012. I included 1 Bof A CC but did not include any of my AX cards. I did have a piece of real estate included thru Citibank but have not yet tried applying for anything with them. BofA recently approved me for a Secured card and told me that within 6mo-1y of good payment hx I would be approved for an unsecured card. AX told me to wait until my BK was 5 yrs old and to re-apply at that time. CHASE keeps telling me they need to see a little bit more payment hx on some of my newer accts (CO, BC and DS). I have written EO another letter today and am waiting on a reply. I have a current auto loan and student loans all with perfect payment hx thru CHASE.

Re: Can I ever have a Chase, Citibank BofA, Amex, again post Chapter 7?

somotao — Wed, 15 Jul 2015 10:21:24 GMT

Just to update you guys on BoA. I decided to take them up on their offer. 4.5 years post CH7 BK and after buring them for a 1st and 2nd mortgage, I am back in with them. I was approved for a $500 limit Cash rewards credit card. This is by far my lowest credit limit. I have had a banking relationship with them for over 15years, I have no Idea if that helped my situation. It did cost me two pulls on my EX.So the question is BoA BK friendly? I strongly believe so. Now I will wait till I hit the 5 year mark in Dec to apply for Amex and Chase. With regards to Citi I have no plans to apply for them until my BK hits 7 years or falls off my credit reports completely.

Re: Can I ever have a Chase, Citibank BofA, Amex, again post Chapter 7?

Anonymous — Wed, 15 Jul 2015 10:55:49 GMT

@somotao wrote:
I still haven't accepted the offer. $500 credit limit seems just too low for me......Not sure it is worth it just to get back in with Bank of America......at the same time I really don't want to waste my inquiry. End of this year will be 5 years post BK7 so will be looking to try for Amex and Chase.

Bank of America was the second creditor to offer me an opportunity after my Chapter 13, along with Capital One. Now I have high end cards with both of them. Now Chase - that's a whole other entity. Maybe someday...

Re: Can I ever have a Chase, Citibank BofA, Amex, again post Chapter 7?

somotao — Wed, 15 Jul 2015 10:57:08 GMT

It sure feels good to have a Prime credit card again

Re: Can I ever have a Chase, Citibank BofA, Amex, again post Chapter 7?

Anonymous — Tue, 29 Mar 2016 15:38:25 GMT

Chase can be done! I filled for BK in 2012 and it has been just 4 years last month. The first 3 years were pretty rough. I instanly got an unsecured card a couple months after the BK with capital one witth a very very low 300$ limit. The next 2 years I got increases and applied for some store cards, Some denied some approved. I added another capital one card to the mix in the meantime. In January of 2015 I appiled for the capital one venture card. At the time I had 2 capital one cards with 2500 limits and a target card, amazon store card (not the chase one), sams club, target, sears mastercard, a barlcay rewards mastercard and bestbuy Mastercard and my highest limit was the 2500 capital one card. Everything else was 1000 or less. I appied for venture card becasue at the end of the year we were going to go to mexico and I figured the 400$ bonus and points would help pay for the trip. Also I asked capital one for a limit increase and they denied me, I applied for the venture card and got a 22,000$ limit. I was shocked, I called the number to verify becuase I thought it was a mistake. They told me on the phone I was approved and my limit was 22,000$. I just told them the webpage froze becuase I didnt want to explain to them I didn't belive it, haha. Before I got the venture card I felt like I was stuck, No one would give me a limit incrase and every other card I appiled for I got denied. I really thought it was the end of the road. I felt that It would be this way until the BK fell off my credit report and I would have to go through this for another 6 years. I read post saying hang in there and felt hopeless. My goal was to get back my chase and American Express. I had and have nurmerous inquieries on my report. Like I think 12 or 13 which I know is not good but I just figured they would fall off in a year or 2 anyway and there is nothing I NEED in that time frame. So anyway when I got the venture card after the first statement I got auto incrases from half of my cards, my amazon went from 800-5,000 and sams went from 1250-3500. So idecided to go on a credit limit increase rage I got an increase from everycard I had expect target. I asked amazon for an increase even though a month before they bumped me from 800-5000 and they gave me another 5000 to a total 10,000 limit, I had only had this store card for about 8 months at the time and went from 800-10,000. Sams club also bumped me from 3500-7000 Things started to look upwards. Besides target my lowest card was 5000 sears card. It was like the banks said oh Capital one gave him 22,000 lets follow close but behind them, haha. I still wanted my Chase Sapphire Preferred card back. I applied in Feb and was denied. I didnt really follow up or anything just figured to be greatful for what I do have and give it sometime. So I just waited a little while, added a victoria secert credit card and apple store card when the watch came out. In October of 2015 I decided to give it another try to get back with Chase. At this time I prob had like 15 or 16 hard pulls on my credit, some from the increases I did in the spring and some for the new cards I applied for. I applied and got the message that I would have to wait 7-10 days. I have tried to call and ask for reconsider before with other cards and even with CLI but never had any luck but I tried again with Chase and told them the truth. The whole time I have been reading forms but ignoring the advice, You can tell by how many hard pulls I have, People think I am crazy. I told them since I filled BK all I wanted is to get back together with chase and she came back on the phone after putting me on hold and approved for 5,000$. So it can be done, Just under 4 years and I got back with chase. After I got my card in the mail, I figured I already had a crazy amount of hard pulls I mind as well see if I can get anything else. I applied for discover and got an it card with 800$ limit. I also appiled for Citi double cash and american express but got denied for both of them, 60 days after I had my discover I got a CLI to 1200 from 800. So keep your head up it is a lonley long road but time goes by and things get better. I dont have any car loans or morgages, but we have a 2013 honda polit that my mother in law signed for us to get. We only owe like 10,000 on it and have 2 years left on the loan. I applied for capital one auto refinance just to see if we could get it out of her name and if I could get the good credit history of an auto loan payoff. I got approved with a 2.99% rate to refinacne the auto loan. So things are deff getting better. There prime rate is 2.49. Hang in there, If you have any questions let me know.