topic Re: Post-discharge: Why can't I get approved for the same cards everyone else? in Bankruptcy

Post-discharge: Why can't I get approved for the same cards everyone else?

jmcmillan — Sat, 09 Jan 2021 03:40:22 GMT

I did a lot of research waiting for this moment, and I'm getting denied for everything.

Discover denied me due to my bankruptcy.

Capital One denied me due to delinquent past credit obligations (I thought Capital One was forgiving?)

US bank denied me. (still waiting for the letter)

I guess I'm applying for OpenSky while everyone else gets to enjoy their prime CCs

Re: Post-discharge: Why can't I get approved for the same cards everyone else?

Jnbmom — Sat, 09 Jan 2021 03:50:48 GMT

@jmcmillan wrote:
I did a lot of research waiting for this moment, and I'm getting denied for everything.

Discover denied me due to my bankruptcy.

Capital One denied me due to delinquent past credit obligations (I thought Capital One was forgiving?)

US bank denied me. (still waiting for the letter)

I guess I'm applying for OpenSky while everyone else gets to enjoy their prime CCs

When was your BK discharged?

Re: Post-discharge: Why can't I get approved for the same cards everyone else?

Anonymous — Sat, 09 Jan 2021 05:33:40 GMT

I too got denied for most of the credit cards that were advetised as "easy." What cards did you apply for specifically?

Discover IT (secured) denied me (but I burned them pretty hard) along with many of the others. If you're not getting approved for cards don't keep applying for them (hard inquiries don't help). Do a lot of research before applying for any card when possible.

I ended up with 2 OpenSky credit cards for about a year post bankrupcy. Fees suck so don't keep them forever. Fingerhut was my other line that got approved right away. I bought a few cheap things off the site and haven't touched it since but I'm leaving it until they inevidibly close it due to inactivity. I can't see anyone NOT getting approved for these guys so I'd start there.

After about 6 months post bankrupcy I got approved for the Capital One platinum (wanted to avoid fees). Use the preapproval thing before applying always. I am currently sitting with that and the Tomo Credit card (love it but the waitlist sucked). Still won't qualify for major cards though so need to be patient (and I'm about 1.5 years post ch7).

The options aren't "great" but I'd still avoid some of the scam options (like Credit One). Best of luck. Time heals all wounds.

Re: Post-discharge: Why can't I get approved for the same cards everyone else?

jmcmillan — Sat, 09 Jan 2021 05:43:56 GMT

My bankruptcy was dishachrged on Dec 24. My reports shows discharge and they are only showing my auto loan with one late payment, and a private student loan.

The cards I applied for are mentioned in my original post. I did a lot of research, so I didn't just apply out of ignorance.

Re: Post-discharge: Why can't I get approved for the same cards everyone else?

Jnbmom — Sat, 09 Jan 2021 06:00:32 GMT

@jmcmillan wrote:
My bankruptcy was dishachrged on Dec 24. My reports shows discharge and they are only showing my auto loan with one late payment, and a private student loan.

The cards I applied for are mentioned in my original post. I did a lot of research, so I didn't just apply out of ignorance.

Your discharge isn't even a month old. It takes times you have to be patient, not everyone has the same experiences rebuilding. Cap One is forgiving, but again your discharge is fresh. You may have to go the secured card route. I suggest you spend sometime reading in the rebulding forum.

Re: Post-discharge: Why can't I get approved for the same cards everyone else?

Bankrupt2019 — Sat, 09 Jan 2021 13:08:34 GMT

You say that you're not "applying out of ignorance" I hate to be that guy, but you shouldn't be applying. You should be trying the soft pull pre-qualifications before wasting a hard pull. That being said, there are credit unions that will give secured cards the day after discharge.

Don't get discouraged. Get motivated. Stop applying, start researching. A few clicks and phones calls can save a lot of disappointment.

As an example I got a Discover card a couple months after BK. But they won't touch my wife because she burned them.
She got an Ollo offer, I didn't.

Calital one let her in the day discharge reported but it took me a month.

everything is YMMV.

Re: Post-discharge: Why can't I get approved for the same cards everyone else?

angelofmusic86 — Tue, 12 Jan 2021 15:39:12 GMT

Who did you burn during your BK? Cap 1 likes to wait a year post delinquency whether it was a chargeoff or BK filing. Always, always do a pre-qual. Personally, Discover probably won't let me in for a few years because I burned them pretty hard.

I will say that Credit One isn't a scam card unlike the other person posted. It's an equally terrible subprime card for those of us that are rebuilding. I didn't want to apply, but I did the pre-qual for their reward card with 1.5% cashback and was pre-qualled at $500 which I took because paying $95 a year for a visa was a cost of rebuild to me. I will be cancelling before the next $95 fee because while it was good to start, I don't think it's worth it long term. The think with them is that they charge fees for stupid stuff like authorized users - but that can be all managed with proactive management.

Anyway, rebuild is a long marathon. I get we all want to jump back into things, but it takes time and discipline to do that.

Re: Post-discharge: Why can't I get approved for the same cards everyone else?

jmcmillan — Sat, 16 Jan 2021 05:15:52 GMT

@angelofmusic86 wrote:
Who did you burn during your BK? Cap 1 likes to wait a year post delinquency whether it was a chargeoff or BK filing. Always, always do a pre-qual. Personally, Discover probably won't let me in for a few years because I burned them pretty hard.

I burned Amex, Bank of America, Barclays, Capital One, Citi, and Navy Federal.

I did end up applying for Capital One, and they denied me without even pulling my credit.

I had a chat with US Bank, and the underwriter told me the only reason they couldn't approve me is because of my student loan balances... which I'm currently working on. He said bankruptcy was not a factor, so I should be good for approval once the student loans are resolved.

Since I posted this, I became a SDFCU member and got approved for their secured card, and I also applied for OpenSky. The latter is not ideal, but I really just wanted two open CCs while I'm dealing with the student loans, so I'm feeling better. Hopefully I can get approved for something else in a year so I can close OpenSky before the next annual fee.

Re: Post-discharge: Why can't I get approved for the same cards everyone else?

angelofmusic86 — Wed, 20 Jan 2021 16:38:50 GMT

@jmcmillan wrote:
@angelofmusic86 wrote:
Who did you burn during your BK? Cap 1 likes to wait a year post delinquency whether it was a chargeoff or BK filing. Always, always do a pre-qual. Personally, Discover probably won't let me in for a few years because I burned them pretty hard.

I burned Amex, Bank of America, Barclays, Capital One, Citi, and Navy Federal.

I did end up applying for Capital One, and they denied me without even pulling my credit.

I had a chat with US Bank, and the underwriter told me the only reason they couldn't approve me is because of my student loan balances... which I'm currently working on. He said bankruptcy was not a factor, so I should be good for approval once the student loans are resolved.

Since I posted this, I became a SDFCU member and got approved for their secured card, and I also applied for OpenSky. The latter is not ideal, but I really just wanted two open CCs while I'm dealing with the student loans, so I'm feeling better. Hopefully I can get approved for something else in a year so I can close OpenSky before the next annual fee.

Congrats on your approvals. Where you delinquent on CapitalOne before filing? If not, you'll have to wait until a year from filing before they let you back in - just check their pre-qual site a few times around that time.

However, with all those hard inquires I'd try to hold off as long as possible before applying for anything else.

Re: Post-discharge: Why can't I get approved for the same cards everyone else?

jmcmillan — Thu, 21 Jan 2021 00:30:05 GMT

@angelofmusic86 wrote:
Congrats on your approvals. Where you delinquent on CapitalOne before filing? If not, you'll have to wait until a year from filing before they let you back in - just check their pre-qual site a few times around that time.
However, with all those hard inquires I'd try to hold off as long as possible before applying for anything else.

I was not ever delinquent on my Capital One account. I actually made my minimum payment a couple days before I filed (I burned them for about $250, as advised by my lawyer).

I'm not worried about a few inquiries (I have 3 on EX and 1 on TU) because I'm making educated decisons when applying, and I will be gardening until I get my student loan mess cleaned up.

Re: Post-discharge: Why can't I get approved for the same cards everyone else?

Anonymous — Thu, 21 Jan 2021 03:51:32 GMT

I got denied from discover...heck I got denied 1 year after discharge again too and I bank with them! Idk why I just kinda gave up on them.

I had good luck with Capital One (platinum). Its unsecured, no fees, and they approved me right out of bankruptcy even after burning them. Just be sure to pay off things right away and don't spend money you don't have. I am hoping that near the end of this year or so that I can get approved for some better cards.

Re: Post-discharge: Why can't I get approved for the same cards everyone else?

angelofmusic86 — Thu, 21 Jan 2021 15:35:36 GMT

@jmcmillan wrote:
@angelofmusic86 wrote:
Congrats on your approvals. Where you delinquent on CapitalOne before filing? If not, you'll have to wait until a year from filing before they let you back in - just check their pre-qual site a few times around that time.
However, with all those hard inquires I'd try to hold off as long as possible before applying for anything else.
I was not ever delinquent on my Capital One account. I actually made my minimum payment a couple days before I filed (I burned them for about $250, as advised by my lawyer).

I'm not worried about a few inquiries (I have 3 on EX and 1 on TU) because I'm making educated decisons when applying, and I will be gardening until I get my student loan mess cleaned up.

I might have confused you with someone else who I saw had a ton of applications/hard inquiries. Sorry about that. That sounds like a great plan about gardening.

CapitalOne will let you in about a year after you filed since that was the "delinquency" date, which hopefully by then, you'll have the student loan mess cleaned up. Good luck with everything!

Re: Post-discharge: Why can't I get approved for the same cards everyone else?

jmcmillan — Thu, 21 Jan 2021 17:14:02 GMT

@angelofmusic86 wrote:
CapitalOne will let you in about a year after you filed since that was the "delinquency" date, which hopefully by then, you'll have the student loan mess cleaned up. Good luck with everything!

Hopefully by then I'll be eligible for their mid-tier cards rather than the rebuilder cards. I'm just confused why other people burned them in BK and CapitalOne let them back in right away? And it's a bummer because I wasn't planning on burning Capital One, but on the day of my filing, my lawyer said they had to be included ☹️

Re: Post-discharge: Why can't I get approved for the same cards everyone else?

anniea4001 — Thu, 21 Jan 2021 23:10:26 GMT

I filled on Dec 2020, currently waiting on my discharge.

Today I got approved $1000 with a company called TomoCredit.

No HP, no credit check. Approval is based on the balances of your bank account(s) at the time of applying.

This is a charge card thou. They require you to link you bank for autopay as the balance must be paid in full every month.

But I figured I would be a good way to start rebuilding without a HP or giving a deposit. Probably will not keep for the long run but the plan is that by the time I get my discharge I can wait a few months and apply for something better like Cap One or Discover and have better chances since I would already have some credit history by then.

This card reports to all 3 bureaus and has a 1% cash back. No AF either

Re: Post-discharge: Why can't I get approved for the same cards everyone else?

angelofmusic86 — Fri, 22 Jan 2021 17:04:54 GMT

@jmcmillan wrote:
@angelofmusic86 wrote:
CapitalOne will let you in about a year after you filed since that was the "delinquency" date, which hopefully by then, you'll have the student loan mess cleaned up. Good luck with everything!
Hopefully by then I'll be eligible for their mid-tier cards rather than the rebuilder cards. I'm just confused why other people burned them in BK and CapitalOne let them back in right away? And it's a bummer because I wasn't planning on burning Capital One, but on the day of my filing, my lawyer said they had to be included ☹️

Because it's based on date of first delinquency. For me that was ~5-6months prior to filing and my whole process took a little over 5 months (long story why it took so long lol), so when I was DCed, I was only ~1-2 months away from being approved by Cap1 since they want 12 months after first delinquency. And believe me, I pre-qualed almost daily the first two weeks of December because I knew my 12 months were right around there - and voila, on the 14th, I was approved.
My guess it that the people who you've seen ge in right away had at least 12 months since first delinquency immediately after DC.

Re: Post-discharge: Why can't I get approved for the same cards everyone else?

jmcmillan — Sat, 23 Jan 2021 02:20:15 GMT

@angelofmusic86 wrote:
Because it's based on date of first delinquency.

I was never delinquent on any Capital One account I've ever had.

Re: Post-discharge: Why can't I get approved for the same cards everyone else?

angelofmusic86 — Sat, 23 Jan 2021 02:55:20 GMT

@jmcmillan wrote:
@angelofmusic86 wrote:
Because it's based on date of first delinquency.

I was never delinquent on any Capital One account I've ever had.

Exactly which is why you have to wait 12 months post filing before they let you back in. The bankruptcy IS the date of first delinquency in their eyes.

Re: Post-discharge: Why can't I get approved for the same cards everyone else?

ToofDoc — Sat, 23 Jan 2021 10:49:33 GMT

I've been discharged for 14 months now and I'm still unable to get any of those major credit cards that I burned. I'm on their permanent internal "black lists" for many years I'm afraid. That's alright, I can wait since I did get myself a secured card with OpenSky and some credit rebuilding loans (Self and Credit Strong).

Re: Post-discharge: Why can't I get approved for the same cards everyone else?

jmcmillan — Sat, 23 Jan 2021 15:19:16 GMT

@ToofDoc wrote:
That's alright, I can wait since I did get myself a secured card with OpenSky and some credit rebuilding loans (Self and Credit Strong).

Don't forget to get a secured card through SDFCU!

Re: Post-discharge: Why can't I get approved for the same cards everyone else?

Anonymous — Sat, 01 May 2021 02:53:46 GMT

I don't understand why you think these companies should give you a second chance when you burned them. Don't get me wrong people deserve second chances, but they have to be earned. I would believe keeping a secured for a couple years and showing them you can be responsible will get you back on the right track. Best of Luck!