topic Re: 13 Months post Ch 7 discharge and looking.... in Bankruptcy

13 Months post Ch 7 discharge and looking....

AustinOriginal — Tue, 21 Mar 2023 20:20:33 GMT

Hello all,

This is my first post on here so go easy on me. I am 13 months post Ch 7 discharge. I currently have FICO scores of 685, 675, 700. 15% overall utilization and 3 inq. per bureau in the last year.

I have great relationships with several credit unions that I joined after filing the Ch 7. I would like to try to obtain a couple of "non-starter credit cards. I am looking at applying with NFCU, PENFED, and First Tech as they all pull from different bureaus so it would only add 1 inq. to ea.

I have been a member of penfed for 8 years but never really used their products and just joined First Tech a few months ago. I opend the NFCU account right after filing the ch 7 (Nov 2021) and have done the secured card that graduated in excatly 6 months and I have two pledge loans with them. I have about 100K/yr in DD going into that account and have small DD's going into the others bi-weekly.

I am looking for experiences with these particulr credit unions post BK and how you fared with CC applications 1 year post BK.

I am also a member at Langley, PSECU, UNFCU, DCU, and Andrews so I would also be very interested in experiences with these (especially if they seem more BK friendly than the three I was targeting)

I am just really gunshy about applying as I do not want worthless inquiries for a denial.

I really appreciate all input.

Thank you!

Re: 13 Months post Ch 7 discharge and looking....

FireMedic1 — Tue, 21 Mar 2023 20:29:02 GMT

If you do banking with NFCU. Why not go with the More Rewards AMEX. SP CLI's. PENFED is HP's. I dont have experience with the others. Also who got burned? You dont have to stay with only CU's. There's better out there. Plus you only need 1 loan reorting. Pay off the other to release your funds back in savings. @TRC_WA is about the same time since 13 DC. Maybe you guys can compare notes.

Re: 13 Months post Ch 7 discharge and looking....

TRC_WA — Tue, 21 Mar 2023 20:48:15 GMT

Good advice @FireMedic1 .

@AustinOriginal

My 13 was discharged March '22. I joined PenFed and NFCU a few months later. PenFed gave me a $2500 Gold card with scores around 650. That card has a 0% BT offer that I am on thru the end of 2023. I was recently denied for the PenFed PCR card with an EQ near 670.

I can't really recommend PenFed. They just don't seem all that BK friendly and their website is complete garbage. They do appear to be overhauling it though. Not a fan of their HP for CLI policy either. Once the BT offer is paid off I have no further interest in PenFed.

NFCU on the other hand has been great. I also went the secured route and recently graduated. I plan to go after a CLI after 6 months and also plan to refi my auto loan. Nothing bad to say. Definitely relationship based. They were pretty stubborn when I first joined but things have gotten better now that I've put some time in and have all my DD's going there.

I burned BECU in my 13 and have no plans to pay them back. I'm not a member of any other CU's at the moment.

Re: 13 Months post Ch 7 discharge and looking....

Horseshoez — Tue, 21 Mar 2023 20:58:11 GMT

I joined PenFed about 8 months after my Chapter 13 discharge and a couple months after that I applied for their Platinum Rewards Visa; immediately approved with a $6,000 limit; by far my hightest limit at the time. The thing about PenFed, as I understand it at least, is they do not do any auto-CLIs, and any requested CLIs result in a hard pull. All of my other starter cards are now well beyond my PenFed card, so it has essentially been sock drawered at this point.

Re: 13 Months post Ch 7 discharge and looking....

TRC_WA — Tue, 21 Mar 2023 21:52:07 GMT

@Horseshoez wrote:
All of my other starter cards are now well beyond my PenFed card, so it has essentially been sock drawered at this point.

@Horseshoez

... and mine will be going in the drawer as well. Actually it's already in the drawer I'm just paying off the BT by the end of the year and then I'm done with PenFed.

Re: 13 Months post Ch 7 discharge and looking....

AustinOriginal — Tue, 21 Mar 2023 22:09:58 GMT

@FireMedic1

I am really wanting to see if anyone has been approved for an unsecured card with a limit over 5K 1 year post discharge with NFCU.

As far as who got burned in the BK....EVERYONE that isnt a credit union. AMEX, CITI, Chase, Discover, Cap 1, Synchrony, Commenity.

however, Cap 1 just gave me a $1K Savor Card last month. I have two NFCU pledge loans because one will pay off next month after 1 year so I opened another one to keep the a line open with them. I Also did not mention that I have a mortgage and two auto loans that were unaffected by the BK (reaffirmed) and I have got another car loan since the BK.

@TRC_WA

I am interested in the data on the WF reflect Card you have listed and the Verizon Visa. How long after your DC did you get those and what were your data points at that time? So you have not applied for an unsecured NFCU card since your one nRewards graduated? I am also wondering if creditors look at Ch 7 different than they do Ch 13. Did you apply for any credit while in the Ch 13 (before your DC)? I take is AMEX was not included in your BK?

@Horseshoez

Thank you for your input on PenFed. Whats the story on the TD Ameritrade card you have listed?

I really apprecite all of your comments, I am really just looking at where to go from here. I have several of the "started cards" that have helped me rebuild my score to around 700 in 1 year post BK. I just do not want to apply for any more cards with sub 5K limits. But I also want to be smart about it. I would like to get 1 good card per bureau HP and then garden for about 18 months. Thanks again!

Re: 13 Months post Ch 7 discharge and looking....

Horseshoez — Tue, 21 Mar 2023 23:51:42 GMT

@AustinOriginal wrote:
@Horseshoez
Thank you for your input on PenFed. Whats the story on the TD Ameritrade card you have listed?

I really apprecite all of your comments, I am really just looking at where to go from here. I have several of the "started cards" that have helped me rebuild my score to around 700 in 1 year post BK. I just do not want to apply for any more cards with sub 5K limits. But I also want to be smart about it. I would like to get 1 good card per bureau HP and then garden for about 18 months. Thanks again!

My TDCash card from TDBank was my first real card after my discharge (I say "real" because for six weeks or so I had a secured CapOne Platinum but it didn't meet my needs and I closed it); the TDCash card started as a secured card with a $5,000 limit in July of 2020, it graduated to an unsecured Visa Signature card in January of 2021, still with the $5,000 limit. Since it graduated I've been given two auto-CLIs which bumped my credit limit to $8,500 and then to $11,500; suffice to say, I am quite pleased with TDBank.

Re: 13 Months post Ch 7 discharge and looking....

Lurker22 — Wed, 22 Mar 2023 00:23:09 GMT

@AustinOriginal wrote:

@TRC_WA
I am interested in the data on the WF reflect Card you have listed and the Verizon Visa. How long after your DC did you get those and what were your data points at that time? So you have not applied for an unsecured NFCU card since your one nRewards graduated? I am also wondering if creditors look at Ch 7 different than they do Ch 13. Did you apply for any credit while in the Ch 13 (before your DC)? I take is AMEX was not included in your BK?

I have a small checking account with WF (where a portion of my paycheck is deposited but I do not keep a large balance in this account, typically it's less than $50), my 13 discharged 12/28, on 1/2 WF approved me for Active Chase with a $3K limit (should note nothing showed on their pre approval site), Synchrony approved me same day for a Verizon Visa with a $4K limit (that did show up on their preapproval page) .... I did the NFCU secured card, opened during my 13 (2/22) - everything went according to the schedule of others and graduated 8/22, in February of this year I ask for a CLI and it was granted (nothing shows on NFCU's pre approval page)...I did a product change and now have a Flagship card

Re: 13 Months post Ch 7 discharge and looking....

AustinOriginal — Wed, 22 Mar 2023 00:27:22 GMT

@Lurker22

What bureau does WF pull from for CC?

Thanks for sharing that info.

Re: 13 Months post Ch 7 discharge and looking....

Lurker22 — Wed, 22 Mar 2023 00:59:22 GMT

I've read WF can use any of the 3 for credit cards....it hasn't been long ago but I can't remember which they pulled for me

Re: 13 Months post Ch 7 discharge and looking....

CH-7-Mission-Accomplished — Wed, 22 Mar 2023 01:43:18 GMT

@AustinOriginal wrote:
Hello all,
This is my first post on here so go easy on me. I am 13 months post Ch 7 discharge. I currently have FICO scores of 685, 675, 700. 15% overall utilization and 3 inq. per bureau in the last year.
I have great relationships with several credit unions that I joined after filing the Ch 7. I would like to try to obtain a couple of "non-starter credit cards. I am looking at applying with NFCU, PENFED, and First Tech as they all pull from different bureaus so it would only add 1 inq. to ea.
I have been a member of penfed for 8 years but never really used their products and just joined First Tech a few months ago. I opend the NFCU account right after filing the ch 7 (Nov 2021) and have done the secured card that graduated in excatly 6 months and I have two pledge loans with them. I have about 100K/yr in DD going into that account and have small DD's going into the others bi-weekly.

I am looking for experiences with these particulr credit unions post BK and how you fared with CC applications 1 year post BK.
I am also a member at Langley, PSECU, UNFCU, DCU, and Andrews so I would also be very interested in experiences with these (especially if they seem more BK friendly than the three I was targeting)
I am just really gunshy about applying as I do not want worthless inquiries for a denial.
I really appreciate all input.
Thank you!

FWIW, from everything I've read over the past 10 years, First Tech is not BK friendly. They are used to the high paid techies although some of the glitz is off that field with the recent SVB failure. DCU requires 24 months post BK to approve credit. I would definitely do PenFed and if they approve you for one card, immediately apply for a second. They use the same pull. They gave me a $25K card instantly and then instantly a $20K card. You are doing great, BTW. Those are very good scores for where you are in time since filing.

Re: 13 Months post Ch 7 discharge and looking....

AustinOriginal — Wed, 22 Mar 2023 10:21:38 GMT

@CH-7-Mission-Accomplished

Thank you

Re: 13 Months post Ch 7 discharge and looking....

MileHigh96 — Wed, 22 Mar 2023 13:17:47 GMT

@AustinOriginal wrote:
I am really wanting to see if anyone has been approved for an unsecured card with a limit over 5K 1 year post discharge with NFCU.

I have a love hate rel;ationship with PenFed. I opened a savings account with them 3 months pst BK discharge and then 4 months post discharge I cold app'd for one of their cards and was instantly approved for a $6K SL which was my best card at the time by far. However, as has already been mentioned, I hate the fact that the HP for any CLI's which really sucks.

As for NFCU, I was finally able to get my membership started with them a couple of months ago and opened a savings account. I was going to wait until a few more inquiries dropped of my reports before applying for a card, but this past Friday I got an email invitation from them to apply for their cashRewards card. I still was leaning towards waiting but the invitation was too enticing and I pulled the trigger. I was instantly approved for the card with a $12.5K SL which is more than double the limit on my next highest card (PenFed). Of course YMMV, but I was blown away by the great SL they gave me, so you definitely can be approved with a limit higher than $5K with NFCU.

Re: 13 Months post Ch 7 discharge and looking....

AustinOriginal — Wed, 22 Mar 2023 13:25:00 GMT

@MileHigh96

thank you for that information. However, it looks like you are two years plus post discharge when you applied for the Navy Federal card. Is that correct? I am just barely over one year post discharge and was wondering how navy federal would look at that given my otherwise great relationship with them.
and when you applied for the Navy Federal card that you received what options did it show that you were pre-qualified for on their prequalification tool? It is still showing me only a secured card.

Re: 13 Months post Ch 7 discharge and looking....

AustinOriginal — Wed, 22 Mar 2023 13:31:27 GMT

How do you set up your profile with your data points info and cards like you have?

Re: 13 Months post Ch 7 discharge and looking....

Horseshoez — Wed, 22 Mar 2023 13:35:02 GMT

@AustinOriginal wrote:
How do you set up your profile with your data points info and cards like you have?

https://ficoforums.myfico.com/t5/SmorgasBoard/THIS-IS-HOW-YOU-ADD-CREDIT-CARD-PICS-TO-YOUR-PROFILE/m-p/2262839?search-action-id=247016603632&search-click-category=promoted&search-result-uid=2262839

Re: 13 Months post Ch 7 discharge and looking....

AustinOriginal — Wed, 22 Mar 2023 13:38:11 GMT

Thanks!!

Re: 13 Months post Ch 7 discharge and looking....

MileHigh96 — Wed, 22 Mar 2023 14:43:50 GMT

@AustinOriginal wrote:
@MileHigh96
thank you for that information. However, it looks like you are two years plus post discharge when you applied for the Navy Federal card. Is that correct? I am just barely over one year post discharge and was wondering how navy federal would look at that given my otherwise great relationship with them.
and when you applied for the Navy Federal card that you received what options did it show that you were pre-qualified for on their prequalification tool? It is still showing me only a secured card.

I won't be 2 years post discharge until July. And I didn't go through their pre-qual tool. I just got an "invitation to apply" by email from them. It didn't say that I was prequalified or anything, it just invited me to apply for the card. And at this point, I've only been with them for a couple of months when I got that email.

Not sure if that info is worth you cold app'ing for one of their cards or not. Maybe they would take your longer relationship with them into account. Plus, your scores are higher than mine are right now when I pulled the trigger on Friday.

Re: 13 Months post Ch 7 discharge and looking....

TRC_WA — Wed, 22 Mar 2023 15:26:44 GMT

@AustinOriginal wrote:

@TRC_WA
I am interested in the data on the WF reflect Card you have listed and the Verizon Visa. How long after your DC did you get those and what were your data points at that time? So you have not applied for an unsecured NFCU card since your one nRewards graduated? I am also wondering if creditors look at Ch 7 different than they do Ch 13. Did you apply for any credit while in the Ch 13 (before your DC)? I take is AMEX was not included in your BK?

@AustinOriginal

Yes I applied for credit while still in my 13. I got my Verizon Visa in July 2020 and my Reflect in November 2021... I was discharged March 2022. I was lucky with one of those trustees that you never heard from... my payments were always on time and in 5 years I didn't hear from him a single time until the very end when my final payment had to be adjusted. I also got the WF Platinum and a few other cards while in my 13.

Correct... I have not applied for an unsecured Navy card yet. I'm waiting till later this year when all my baddies fall off.

Not sure if creditors look at a 7 different than a 13 but you would think they would... I mean with a 13 they do get some of their money back.

AmEx was not included in my 13. I made it a point to pay off and close my $1k card prior to filing... and it was a strategy that worked because 5 years later they gave me the same card with a $10k limit.

Re: 13 Months post Ch 7 discharge and looking....

AustinOriginal — Wed, 22 Mar 2023 15:36:21 GMT

Great info!

what bureau did WF pull on your apps with them?

Thank you!