topic Re: Blacklist in Credit Cards

Blacklist - Which cards?

Anonymous — Sat, 01 May 2021 19:39:16 GMT

Hey everyone, I had a question and was hoping I could get some insight. A while back I had a good credit profile and held a few credit cards. (Cap1, Barclay, Commerce, Comenity, Chase).

I went through some dark times financially after my divorce and an auto accident and ended up having most cards closed and/or CO'd. I started working on fixing my credit in January 21 and resolved all debts/collections and got my finances back on track. Currently going through underwriting for a mortgage!

I have been receiving credit card offers in the mail now that my credit is improving. My question is whether or not I'm going to be blacklisted from say Cap1 or any of the other big companies due to COs and/or closed accounts? I really would like to get my CSP card back at some point. I'm hoping that since I did pay off the balances of what was owed that I might get another chance later on. I have got Capital One platinum offers and I figured I wouldn't have a chance to go back to Cap 1 for a long time.

Im hoping once I sign the dotted line for closing on mortgage that I can start building my credit profile again.

thanks in advance for any assistance.

Re: Blacklist

yoshee08 — Tue, 20 Apr 2021 14:16:30 GMT

As long as your accounts are paid, you can usually begin a relationship with them. I would start with a pre-qualification link. This will tell you if you have a better chance of being approved for the account.

If you are getting the offer from them directly, then you are already on their target list, so there is a good chance you would be approved for that (of course no guarentee). Usually once you've paid off the accounts they open the door again.

Watch out for applying while going through a mortgage though. They dont like to see new debt or inquiries etc.

Re: Blacklist

Anonymous — Tue, 20 Apr 2021 14:41:11 GMT

Thank you for the quick reply. I am definitely being cautious about opening any new accounts during the mortgage process. I plan to apply after the loan has been funded to avoid any concerns.

Do you know if settling on accounts would be reason to decline any new relationships? I paid most in full in hope to obtain the mortgage etc but I know I did settle on 1 or 2 of them. Hopefully that doesn't hurt my chances of establishing a relationship again.

thanks again!!!

Re: Blacklist

yoshee08 — Tue, 20 Apr 2021 15:06:48 GMT

I personally do not have experiance, but that may hinder the process, but may not. It usually depends on the creditor. Lets see if someone with experiance replies.

Length since charge off would also be a factor. So If you are rebuilding 3-5 years later, less likely to hurt then if it was 6 months ago.

Re: Blacklist

coldfusion — Tue, 20 Apr 2021 15:18:56 GMT

I would not worry too much about BarclayUS or Commerce Bank. While they both have some nice co-branded cards that can fill a specific niche they don't have much if anything that most people would see as must-have cards.

If you burned Chase it will be tough going to get a CSP again even if you eventually did make them whole. They have a very long memory and aren't known for being forgiving of what they see as past transgressions.

Cap 1, you shouldn't have a lot of trouble getting back in. It may take a while to get much beyond toy-limit stage but they're usually pretty amenable to giving second chances.

Re: Blacklist

Jannelo — Tue, 20 Apr 2021 15:33:22 GMT

I still owed Cap One on one charge-off when I was approved for their Platinum cc. I had two charge-offs with them. Maybe I owed on both when I app'd. I can't remember for sure. It was a low SL of $300, with credit steps to $500. But I was just thankful as my FICO 8 was 528. I did work out a payment plan after that. Six months later, while still paying on the charge-off, I even received another cc with Cap One, the QuicksilverOne, with a SL of $1,000, with credit steps to a $1,500 CL after five months. I also received an auto loan from them a month after that. They are very forgiving. They were instrumental in my rebuild efforts in the beginning. Did you check their prequal feature to see what you are pre-qualified for?

Re: Blacklist

jcooks — Tue, 20 Apr 2021 15:48:15 GMT

I had an old CO with Chase roughly 10 years ago. Settles with CA for less. It is no longer on my report. I just recently was applied for a Chase Freedom Flex after instant denial, failed recon, and approved on 2nd recon. Albeit a very low SL of $700, I was just happy to get back in the door with Chase. I did eventually get the denail, they did list previous relationship as part of the denial.

Re: Blacklist

Anonymous — Tue, 20 Apr 2021 16:32:07 GMT

Thank you again for the replies!! Yeah I'm not necessarily concerned with Barclay or Commerce, more so about rekindling my relationship with Chase and Cap1.

I had a decent CL ($15k) with my CSP and the rewards were great. Hopefully I haven't burned the bridge and won't be on the "deny-radar".

In any case, If I am "blacklisted" by Chase, is there any comparable cards that would be worthwhile? I was looking at the Amex Platinum/Gold.

My goal is to establish credit with 2-3 cards and work on CLI over time. I'm hoping to obtain a travel and a cash back card that will fit my needs.

Re: Blacklist

coldfusion — Tue, 20 Apr 2021 16:44:47 GMT

It may take a while before your profile has reached the point where you can qualify for a travel-centric card. If you can qualify for NFCU membership their Flagship Rewards card might be a good fit.An AMEX Platinum or Gold or Cap1 Venture might also be worth looking at.

Re: Blacklist

Anonymous — Tue, 20 Apr 2021 17:38:17 GMT

Thank you! That makes sense. My wife is a permanent resident and when she arrived to the U.S we got her the Cap1 Platinum (which is the current card offered to me due to my current credit standing) after a year+ they increased 2x CLI and then recently they offered her to upgrade to the VentureOne. I imagine that will be my scenario as well before I qualify for any travel related cards.

I do have the Gold and Platinum Amex showing up in my CK recommendations, though I have "fair approval odds". I guess I will wait and see once my closing is complete to see where I stand.

once again thank you for sharing your knowledge!!

Re: Blacklist

Anonymous — Tue, 20 Apr 2021 19:34:35 GMT

@Anonymous wrote:
Hey everyone, I had a question and was hoping I could get some insight. A while back I had a good credit profile and held a few credit cards. (Cap1, Barclay, Commerce, Comenity, Chase).

I went through some dark times financially after my divorce and an auto accident and ended up having most cards closed and/or CO'd. I started working on fixing my credit in January 21 and resolved all debts/collections and got my finances back on track. Currently going through underwriting for a mortgage!

I have been receiving credit card offers in the mail now that my credit is improving. My question is whether or not I'm going to be blacklisted from say Cap1 or any of the other big companies due to COs and/or closed accounts? I really would like to get my CSP card back at some point. I'm hoping that since I did pay off the balances of what was owed that I might get another chance later on. I have got Capital One platinum offers and I figured I wouldn't have a chance to go back to Cap 1 for a long time.

Im hoping once I sign the dotted line for closing on mortgage that I can start building my credit profile again.

thanks in advance for any assistance.

I can speak for Cap 1. I filed BK Chpt 13 8 years ago. Included Cap 1 in there as I had just one credit card with them. Got kicked out my Chpt 13 which means I still owed Cap 1 maybe $700. Since it was still reporting monthly as late payments on my credit i decided to just pay them off so that it would stop reporting as late payments ever month which was killing my scores. Once I paid them off completely maybe a few months later I got approved for a Cap 1 car loan and credit card. So with that said Cap 1 is very very forgiving as long as you pay what you owed them. I did not try and neg a payment with them as I paid them 100% of what I owed and they blessed me with a credit card and car loan no problem months after I paid off my past debt with them.

Re: Blacklist

coldfusion — Tue, 20 Apr 2021 19:49:27 GMT

Dont' waste your time with fako recommendations from the like of Credit Karma. Those are based on general demographic information and not on your specific credit profile and exist primarily to encourage you to click through and apply. Any time someone clicks through and applies CK collects a spiff, and if there is an approval they collect a larger spiff. The only reason you would go through an affinity site to apply for a card is if they are offering an enhanced signup bonus or promotion that is better than what the card issuer is offering through their own site (which ironically enough isn't that uncommon with AMEX).

If you really want to get a sense of whether or not you might be approved for an AMEX card go to their website and check for a prequalfication.

Re: Blacklist

Anonymous — Tue, 20 Apr 2021 22:53:46 GMT

@coldfusion I figured that much, I am learning that CK is only good for monitoring the report and that's about as useful as it gets. I admit I did get a little excited to see the AMEX offerings, but I will go through the Pre-qual after I close on my mortgage on 5/14 to get a better idea.

Oh one last question. Regarding "relationships" and getting my foot in the door, I have an Amex Corporate green card through my employer. I know technically this is not a personal card, but I did have to go through the typical approval to get it many years back, but it doesn't report to the BU. Will this help shape the relationship in anyway or do they not see this as part of my credit profile?

Re: Blacklist

Anonymous — Tue, 20 Apr 2021 22:50:36 GMT

@Anonymous Thank you for your reply! That is assuring that atleast I will have Cap1 likely to return too!

Re: Blacklist

coldfusion — Wed, 21 Apr 2021 00:01:56 GMT

@Anonymous wrote:
@coldfusion I figured that much, I am learning that CK is only good for monitoring the report and that's about as useful as it gets. I admit I did get a little excited to see the AMEX offerings, but I will go through the Pre-qual after I close on my mortgage on 5/14 to get a better idea.

Oh one last question. Regarding "relationships" and getting my foot in the door, I have an Amex Corporate green card through my employer. I know technically this is not a personal card, but I did have to go through the typical approval to get it many years back, but it doesn't report to the BU. Will this help shape the relationship in anyway or do they not see this as part of my credit profile?

It does.

If you've already set up a login at americanexpress.com and linked your corporate card to it you an look under Benefits and confirm whether or not your company participates in their program that provides a rebate each year on your choice of 4 of their core cards.

You still have to apply and can still expect a hard pull but you'll be known to them. You can also link your personal cards to that same login account.

The 'exclusive offers' are an increased SUB, although if there is an exceptionally good public offer like the 125,000 MR personal Platinum one it may be better to go that route and then calling in later to have the credit applied starting for Year Two.

Re: Blacklist

Anonymous — Wed, 21 Apr 2021 04:59:53 GMT

@coldfusion Thank you, I did find on my Amex website the exclusive personal card offers. However, it shows this offer Platinum 85,000 MR points is available until April 21, 2021. Either way it's good to see that the relationship has been started and I can use this too my advantage when the time comes!

Which cards?

Anonymous — Sat, 01 May 2021 17:55:49 GMT

So I wrote a similar post previously but now I want to provide some more info to get recommendations on some cards for the future. I'm going to be closing on my mortgage 2 weeks from today and plan to try and get a CC after the loan has finalized.

My question is what CC would be a good choice for me? I want a rewards based card, cash back or something to use towards travel. The wife and I like our vacations. I would use it for nearly everything daily like gas, dining, grocery, travel to reach any SUBs I may get.

I know I may not qualify for a travel/points card now, but I will use online pre-qualifiers anywhere if possible before applying.

(as of my last pull 4/15 myFICO 8 is 650EQ, 662TU, 644 EX) I expect another bump to my scores on the next pull 5/15 due to lowering utlization quite a bit to squeeze the most out of my scores and hoping it to be substantial to get me in the high 600s or magically 700 🙄. I'd be possibly apping sometime after that as we close on 5/14.

I unfortunately burned JPMC (Amazon), even though I did pay them back, but I hear they have long memory regardless of payment. I also have closed Cap1, Barclay, Comenity, Commerce, but again all were paid but still closed and charged off at one point. I know that doesn't leave me with much, but Cap1 has been offering me to come back, but they aren't really on my radar at the moment. I am interested in Amex as I do have a Green Corp card, but thinking maybe BCP would be a good choice? Or even the gold, but the AF on these are steep and they require no balance carrying, which is fine as I intend to pay off monthly everything I use.

What other options should I look into? Will I even get accepted having closed but paid COs if I can get my score into the high 600s/low 700?

income is $85k+ for myself. I only have 2 car loans and 1 is almost paid off, other at $15k. I am an AU on my wife's Cap 1 $300/6250. Otherwise no other cards or credit besides the soon to be mortgage, which is also why I want to start to establish credit history again.

Sorry for the novel, just want to give some data and background.

Re: Which cards?

designated_knitter — Sat, 01 May 2021 19:11:28 GMT

Disco? Based on the fact that it appears you haven't had a prior bad relationship with them.

Or credit unions... like Penfed.

But depending on how recent the account closures were, you may have to go the secured route for awhile and doubtful that you would get large SLs necessary for travel.

Also, don't expect your corporate card with Amex to carry any weight unless you are the owner of the corporation.

Good luck with your closing and subsequent move!

Re: Which cards?

Anonymous — Sat, 01 May 2021 20:01:27 GMT

* Thank you for merging my thread mods 🙏

@designated_knitter Yes that makes sense and along the lines of what Cold had mentioned previously about possibly not qualifying for anything besides a standard credit line. The closures were about 3 years ago+. I guess I still had hope I could get my foot in the door somewhere with a decent reward card even if it were a small SL. I will grow with it. If that is the case then I will just do what I need to do.

I never really thought about Disco, I'll have to look into that.

Re: Which cards?

designated_knitter — Sat, 01 May 2021 20:39:34 GMT

I stand corrected in terms of the corporate Amex! I wish my corporate Citi did the same thing!

Another option, though your scores *may* be a little low might be US Bank or Elan. They let me in through their secured card but it does graduate and gives you a foot in the door. AAA uses them for their credit card.

Supposedly, the travel co-branded Amex cards are easier to get so wonder if you could prequal for one of those through your corporate relationship with them. Might be worth a phone call since it sounds like you're after Travel rewards.

Finally, if you have any Apple products,, the Apple Card might be worth considering. Not travel related but GS is another "new to you" bank. They're also buying the GM MasterCard from Cap1 so may be worthwhile to build a relationship with them.

Good luck! At least it sounds like you have options and realistic expectations so that counts for a lot!