topic Re: Any of these companies forgiving ? in Credit Cards

Any of these companies forgiving ?

Red1Blue — Wed, 13 May 2020 19:29:43 GMT

Is any of these companies forgiving after having a charge off with them ?

Chase

Citi Bank

Barkley

Comenity

Synchrony

NFCU

PenFed

Amex

US Bank

Capital One

Re: Any of these companies forgiving ?

Anonymous — Wed, 13 May 2020 19:42:18 GMT

Not a good list to burn unfortunately. Capital One and Synchrony tend to be very forgiving. CUs blacklist you for life until they are repaid as does Barclays and the rest will put you in time out for a long time.

Re: Any of these companies forgiving ?

wasCB14 — Wed, 13 May 2020 19:46:52 GMT

Amex and Chase have very long memories. Chase will also remember accounts with banks they acquired, like WaMu.

The amount of a charge off can matter. A bank is more willing to give a customer another chance after a $2k loss than a $200k loss.

Cap1 is very forgiving.

Re: Any of these companies forgiving ?

Gmood1 — Wed, 13 May 2020 19:55:19 GMT

Citibank is forgiving. I agree with others, Cap One and Synchrony are also.

Re: Any of these companies forgiving ?

NRB525 — Wed, 13 May 2020 20:30:08 GMT

No mention of Wells Fargo or BofA?

Re: Any of these companies forgiving ?

Ficoproblems247 — Wed, 13 May 2020 21:46:09 GMT

Of the lenders on that list, 8 years ago I burned Cap1, Citi, and AMEX. I now have cards with all three of those lenders again. I echo what others said about Cap1 definitely being the most forgiving. They let me back in after about 2 years, the others were more like 7 before I started seeing prequalifications again.

Re: Any of these companies forgiving ?

Remedios — Wed, 13 May 2020 21:59:43 GMT

Capital One will sue you while at the same time approving for a new card.

In fact, them and Discover are amongst most litigious lenders.

There is no "forgiveness", just a different business model.

Re: Any of these companies forgiving ?

Anonymous — Wed, 13 May 2020 23:03:26 GMT

@Remedios wrote:
Capital One will sue you while at the same time approving for a new card.
In fact, them and Discover are amongst most litigious lenders.
There is no "forgiveness", just a different business model.

But this is MyFico. All the matters is the approval, the rest is just some sort of noise!

Re: Any of these companies forgiving ?

Anonymous — Wed, 13 May 2020 23:15:15 GMT

Capital One will give you plenty of rope-it's up to you whether you chose to hang yourself. If you do, after you've been cut down, they will agree to reanimate your body, and will give your more rope. It's the great circle of Capital One life. I'm not a hater, just an observer. I actually find Capital One to be an extremely interesting company.

Re: Any of these companies forgiving ?

coreysw12 — Thu, 14 May 2020 07:24:15 GMT

From what I've read or experienced:

Chase: Yes, if you have a good established relationship with them. They gave me two new cards only a couple months after settling the charged off card I had with them before. Very much a YMMV situation though.

Citi Bank: Yes, but use the pre-qual tool to check before applying.

Amex: No personal experience, but what I've read says they have a 10-year blacklist if you burn them.

Capital One: Probably the most forgiving bank there is. I burned them in the 2000's, they forgave and gave me two more cards in the 2010's. Burned them both (again) in 2016. They gave me another new card in 2019 shortly after I paid off the two previous ones. Definitely not planning to burn them a 3rd time, but if I did I bet they'd still give me another one

Re: Any of these companies forgiving ?

coreysw12 — Thu, 14 May 2020 07:29:50 GMT

@Remedios wrote:
Capital One will sue you while at the same time approving for a new card.
In fact, them and Discover are amongst most litigious lenders.
There is no "forgiveness", just a different business model.

LOL, so true.

Can vouch firsthand that Discover is very sue-happy, they are the only creditor to ever sue me, and it happened after only 4 months of late payments. Forgiving, though, they are not. Seriously doubt they'll ever give me another card - and I've tried.

Cap1, I have never been sued by, despite burning them 3 times before. In the first instance they never even got paid, I waited 7 years for it to fall off my reports. I settled for less on the second 2. Then they gave me a 4th card 3 months later.

Re: Any of these companies forgiving ?

joltdude — Thu, 14 May 2020 15:02:01 GMT

Echoing others with Cap One and Synch, Not entirely agreeing with Disco not eventually forgiving, Citi on their own cards can be hit or miss, do look into @pizza1 posts on getting back with them if i recall.. Discover *can* be forgiving when the mood strikes....Folks with BKs have gotten cards with them though they keep moving the goalposts and sometimes its a secured card... At times its 2 years post... and at others its much shorter or longer... though right now I wouldnt bother with Miss Disco because shes in an off mood with the whole pandemic situation.. I would like to give them props... Proportedly they are not currently slashing CLs for established customers... and so far that seems to be accurate....

-J

Re: Any of these companies forgiving ?

GoldenloveNY — Thu, 14 May 2020 21:33:37 GMT

I burned both Capital one and Amex about 4 years ago. I settled with capital one and Amex (had two charged offs with Amex: A BCE that I paid in full later and then an Amex Zync Charged Card that I settled for 80% of the balance). I am currently holding two capital one cards and one Amex

Re: Any of these companies forgiving ?

Anonymous — Fri, 15 May 2020 08:25:21 GMT

@Red1Blue wrote:
Is any of these companies forgiving after having a charge off with them ?

Chase
Citi Bank
Barkley
Comenity
Synchrony
NFCU
PenFed
Amex
US Bank
Capital One

cap one is *very* forviving, but I will echo what was said above - they love to sue. I got sued for $800 CO and got garnished for about 2-3k.

I had a card when I was younger and dumber when that happened. I also had an auto loan with them (2007-2013) that got CO (2014) which was dumb on my part because it was a wrong final payment amount, so I had a small remaining balance that ballooned from fees and interest, and I didn't find out about it for a year. I will spare you that story. It is due to fall off my CR in a few months. The CO fell off my CR years ago and I had a judgement too, but then that fell off when the CRAs wiped the slate clean of judgements.

I cold app'd in 2017 for a CC and they offered me a secured card with deposit, but I was only using a reloadable prepaid card at the time, so let it pass since I couldn't fund it. Yup, 3 HPs and didn't go through with it.

I did the prequal this year in Feb (the previous HPs had fallen off at this point and I had a clean slate, as I didn't app for anything else since) and got an offer of unsecured plat or QS on steps program. I went w/ plat since it seemed from reviews to be easier to upgrade down the road. Kinda glad I didn't go the secured route, but I believe accounts in 2017 were actually graduating. Oh well!

How long ago did you burn cap one? Do you still owe them?

Re: Any of these companies forgiving ?

pizza1 — Sat, 16 May 2020 16:19:55 GMT

@Anonymous wrote:
@Remedios wrote:
Capital One will sue you while at the same time approving for a new card.
In fact, them and Discover are amongst most litigious lenders.
There is no "forgiveness", just a different business model.

But this is MyFico. All the matters is the approval, the rest is just some sort of noise!

@Anonymous LOLOL!!!

Re: Any of these companies forgiving ?

pizza1 — Sat, 16 May 2020 16:31:20 GMT

@Red1Blue wrote:
Is any of these companies forgiving after having a charge off with them ?

Chase eventually....years later. Their internal memory is very long
Citi Bank see chase
Barkley see chase
Comenity yes. I burned them good in my BK, and was able to get back in a year later with the same cards. YMMV
Synchrony see Comenity
NFCU no. The have to be PIF, and even then you have to go thru big time red tape to get yourself removed from the internal list
PenFed see NFCU
Amex too a point. They require PIF back, and if you BK them and dont PIF back, many many years later. Internal memory is long.
US Bank intermal memory is also long. many years later down the road...
Capital One is the most forgiving. They were in my BK, and turned around and approved a CC 1 month later.

@Red1Blue ... While YMMV with companies, BK's and CO's are treated a little differently because in a BK the companies can never come back ever and try to sue for an account that was IIB. CO's, if the original lender was unsuccessful in collecting, they can sell the account to a CA and keep trying. If the CA was unsuccessful, they can re-sell to a differnt one, and keep it going. Above, I just hit the highlights.

Re: Any of these companies forgiving ?

Anonymous — Sun, 17 May 2020 05:33:43 GMT

My experience with Discover being forgiving has been great. They sued me for an over due balance. They garnished my checks up until early 2018. Late 2018 I checked their pre-qualification and I was approved for a secured card. I deposited my 200, just to see how things went. My card graduated at either 6 or 7 months and I got a 2000 credit limit. I also got my 200.00 back.

My mom on the other hand has never burned them, has a 775+ score and has been denied multiple times

Re: Any of these companies forgiving ?

coreysw12 — Sun, 17 May 2020 17:22:56 GMT

@Anonymous wrote:
My experience with Discover being forgiving has been great. They sued me for an over due balance. They garnished my checks up until early 2018. Late 2018 I checked their pre-qualification and I was approved for a secured card. I deposited my 200, just to see how things went. My card graduated at either 6 or 7 months and I got a 2000 credit limit. I also got my 200.00 back.

My mom on the other hand has never burned them, has a 775+ score and has been denied multiple times

I had the same experience with Discover, except they still won't pre-qual me even for just a secured card. Been 18 months since I settled with them, my scores are getting close to 700's, and even Chase who I also settled at the same time has given me $14k worth of tradelines. It feels like Discover just really doesn't want my business anymore, and that's fine I guess, but I was hoping for an It Cashback card at some point.

Re: Any of these companies forgiving ?

Red1Blue — Sun, 17 May 2020 20:28:54 GMT

@coreysw12 wrote:
I had the same experience with Discover, except they still won't pre-qual me even for just a secured card. Been 18 months since I settled with them, my scores are getting close to 700's, and even Chase who I also settled at the same time has given me $14k worth of tradelines. It feels like Discover just really doesn't want my business anymore, and that's fine I guess, but I was hoping for an It Cashback card at some point.

I settled with Discover in June 2019. Since then they would not even consider me for a secured card. At the advice of Discover folks I applied twice for secured card and ended up with two hard inqs on EX and also declines. I have no desire to pursue the Discover for next few years. I have other major cards and I can survive with out Discover. I paid my dues and paid what I owed, that is all it matters at the end of the day. Time to move on with life.

Re: Any of these companies forgiving ?

DaveInAZ — Mon, 18 May 2020 21:56:05 GMT

@Red1Blue wrote:
Is any of these companies forgiving after having a charge off with them ?

Chase
Citi Bank
Barkley
Comenity
Synchrony
NFCU
PenFed
Amex
US Bank
Capital One

I have a Sept. 2010 BK7, I got an early exclusion from TU right at 6 months, will try for an EE with EX in July and let EQ take its time and remove in Sept. From that list I included Chase, Citi Bank, Synchrony, & Capital One.

Synchrony was one of my first post BK approvals, Walmart store card in Feb. 2012. Also have PayPal Cashback MC + Lowes

I had been avoiding creditors I included in BK until I found MyFico. I app'd for Cap One Quicksilver in Oct. 2014 and almost fell out of my chair at the instant approval w/$10k CL. I now have $45k in CLs with Cap One between Quicksilver, Spark One biz, Savor One and now Walmart store card.

Chase is an automatic denial with a BK on your credit report, but you used to be able to recon that. I tried for a Chase AARP card in 2018, instant denial as expected but when I tried recon the rep seemed inclined to approve but when she checked with a supervisor I was denied for too many new accounts - bad timing, I had just gotten a Home Equity LoC, PayPal MC & Amex BCE.

I tried Citi Simplicity in 2019, instant denial I expected and planned to try a recon, until the letter arrived - reason included BK but also "unsatisfactory prior relationship".

I don't plan to try for Chase or Citi again even after my BK is gone from my CR, I'm good with what I have. I need to update my siggy, I got a US Bank Cash+ in March. I remember trying US Bank's pre-qual a few years after BK, they offered me a pre-paid debit card.