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BlockFi is not BK-friendly

NYC_Fella
Regular Contributor

BlockFi is not BK-friendly

Just providing some DPs. I was denied today with the reason given as "Bankruptcy". My FICO 8 scores are in the 700 range and my BK7 is 5+ years old. Utilization is 1% on $50K of available credit.

 

Fortunately BlockFi doesn't HP unless they make you an offer and you accept (like Apple/GS). I wish more issuers did the same!

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2 REPLIES 2
Oops_I_Did_It_Again
Regular Contributor

Re: BlockFi is not BK-friendly

I take it from your user name that you may live in NY state.  If that's the case I'm wondering  if the denial may have been because you can't meet account requirements owing to NY residency, not because of your old BK.

 

I was interested myself so recently reviewed FAQs at BlockFi's website.   BlockFi isn't able to setup a BlockFi crypto account (effectively an account for holding crypto currency) for people residing in NY.  Apparently NY disallowa BlockFi from opening crypto accounts, and IIRC, from lending activities in NY also.  I could be wrong, just my take after reading through FAQs.

Credit Profile (Nov 26, 2021)
F8 EX 755 EQ 760, TU 750, F8 BC 769, F2 Auto 751, F2 Mrtg 776, V4 787
available/TCL: $90,667 / $92,100, AZEO, high CL: $16,000*
utilization: 2%, no loans, housing+debt service / income: 22%
AoOA 3Y 6M, AAoA 1Y 10M, AoYA 0M
new accounts 8/24, 3/12, 2/6, 2/3, INQs 12 months EX 1, EQ 0, TU 2

Personal Cards (13)
*Bank of America CCR, American Express BCE/CM, Synchrony PPMC/Amazon, GS Apple Card,
Citibank DoubleCash, Discover IT/BT, Regions Cash Rewards Vsig, Wells Fargo AC, CapOne QS/QS

Business Cards (1)
American Express BBC

Gardening till May 26 2022
Message 2 of 3
NYC_Fella
Regular Contributor

Re: BlockFi is not BK-friendly


@Oops_I_Did_It_Again wrote:

I take it from your user name that you may live in NY state.  If that's the case I'm wondering  if the denial may have been because you can't meet account requirements owing to NY residency, not because of your old BK.

 

I was interested myself so recently reviewed FAQs at BlockFi's website.   BlockFi isn't able to setup a BlockFi crypto account (effectively an account for holding crypto currency) for people residing in NY.  Apparently NY disallowa BlockFi from opening crypto accounts, and IIRC, from lending activities in NY also.  I could be wrong, just my take after reading through FAQs.


When I used my NY address, I wasn't able to apply for the CC. I also have an address in RI so I switched to that and then the CC application link was available to me. It turned out to be a wasted effort because I was denied anyway due to my BK. 

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