topic Re: Amex or Discover Post BK not burned in Bankruptcy

Amex or Discover Post BK not burned

Anonymous — Tue, 07 Jun 2016 10:17:14 GMT

Hey everyone! I have been stalking my fico forum for a couple of months now and finally decided it is time to ask a question. Thanks in advance for your input.

So here is my situation, I was BK7 discharged in 02/14, Did not Burn Amex (Green) and never had Discover, came out of it keeping my AU Amex blue(2008), and my 5 student loans.

Got my first card a capital one platinum card 11/14 $3000 SL, CK showed 682 Score (high limit probably due to Existing AU Amex history and Student loan History.)

Jan 2016 credit dropped due to High utilization and major situation with student loans 5 90 day lates (11/15)....Was always on Autoapy since day 1, fedloan had the wrong contact info for me from my school and i didnt realize that i changed my bank account, long story short I found out when I saw them report to bureaus and had heart attack. Tried every thing they wont budge to remove, Other than that always on time.

Got a Quicksilver one card 1/16 SL $1000. CK showed 580 score

4/22/16 EX Fico 8 653 Utilization down to 45% applied for CL increase on quicksilver one via phone Instant Increase +$2000=New CL $3000, FIgured let me try with my old cap one master card, same thing Instant Increase +$2000=New CL $5500.

Then a couple of days ago CB Cards to Quicksilver and Venture regular not One.

5/1/16 Added as AU to another AMEX Blue (unfortunatley they dont backdate History)

Sorry for the History lesson just want best opinion of my situation, I applied for AMEX PRG May 31, and was denied, even after 2 recon they cited BK obviously, But maybe I overshot with applying for the PRG and should have applied for Amex Green Charge card. Also how is Discover as far as BK freindly? again i never had one before.

Thanks again everyone for all your feedback, Love this Forum, learned so much.

Re: Amex or Discover Post BK not burned

daveg38 — Tue, 07 Jun 2016 11:55:07 GMT

Well, it definitely sounds like things are looking up for you! One suggestion I would have is making sure your student loans are affordable for you. The 90 day lates can be explained away in a recon, but you don't want too many of them.

Discover is all over the place. Some can't get in until 5 years post-BK, some have gotten in as little as 6 months.

Amex, well, they normally decline until 5 years post-BK. There is one person here that gone one 7 months post-Ch13, but that's a completely different chapter and scenario.

The BCE and charge cards should be a good place to start. Your current scores are about in line (maybe a hair lower) with the approvals I'm seeing over at the Credit Pulls database.

Re: Amex or Discover Post BK not burned

Anonymous — Tue, 07 Jun 2016 12:45:35 GMT

Thanks daveg38 i appreciate your feedback, yea im on top of my payments, everything is on time, payments are affordable for me, the problem with fedloan student loan is that its 5 loans bundled into one payment, so when the mishap with my bank account happened, instead of one late it showed up as 5...As soon as i found out i paid the whole back balance i owed them to bring it current. never been late since 8 months down the line.

Amex declined me on the PRG, gonna give it a couple of months before i try for the green charge card with them, fingers crossed.

How about Chase, have you heard how they are post BK? I had burned two chase cards in my BK. Is it even worth the INQ to try before its at least 5 years post?

Re: Amex or Discover Post BK not burned

daveg38 — Tue, 07 Jun 2016 14:41:44 GMT

Chase will probably need 4 years at least from discharge.

Discover sounds like your best play right now.

Re: Amex or Discover Post BK not burned

Anonymous — Tue, 07 Jun 2016 21:59:51 GMT

+1....let us know if you decide for DISC....

Re: Amex or Discover Post BK not burned

Scupra — Wed, 08 Jun 2016 19:01:53 GMT

@daveg38 wrote:
Well, it definitely sounds like things are looking up for you! One suggestion I would have is making sure your student loans are affordable for you. The 90 day lates can be explained away in a recon, but you don't want too many of them.

Discover is all over the place. Some can't get in until 5 years post-BK, some have gotten in as little as 6 months.

Amex, well, they normally decline until 5 years post-BK. There is one person here that gone one 7 months post-Ch13, but that's a completely different chapter and scenario.

The BCE and charge cards should be a good place to start. Your current scores are about in line (maybe a hair lower) with the approvals I'm seeing over at the Credit Pulls database.

Solid info right here! You are definitely too early for American Express as stated above they require 5 years post BK. The person approved after Chap 13 is technically 5 years post if they rode the full plan out. AMEX has the same approval criteria for all of the charge cards Other than that Delta is known to be easier.

Discover...I will never understand haha. I do think this is your best option out of AMEX, Chase and Discover. Good luck!