Burned basically every major company in Chap 7

[cg91]

Hello all,

As the title states i basically burned every major credit card company in my bankruptcy. (Will list below). I am wondering what if any of the major issuers I can get a travel card with since my new job has me traveling a lot. I understand I probably have no shot with anyone but just figured I'd ask.

Heres some info: I filed in January but didn't get discharged until May 31st. Here's what my scores look like now:

Experian: 601

TU: 651

EQ: 674

Current Accounts:

Mission Lane: 750 CL 1 percent Utilization, paid off in full every month.

$7,400 Car loan (not reaffirmed, co-signed on family members new loan to help my score).

Companies IIBK:

Chase

AMEX

Barclays

Cap One (preapproval tool tells me to get lost).

BofA

Discover

Petal

Carvana

Credit One

Fortiva

TD Bank

Comenity

Synchrony

Looking back, thank God for BK I put myself in an awful hole. Thankful for any advice I can get! Thank you in advance!

[Horseshoez]

@cg91, give it a few month, CapOne will probably let you back in.  You may not get a travel related card right away (more likely a Quicksilver 1.5% rewards card), but hey, any card with a modicum of rewards will probably work for you initally, and then in a few months you can apply for a VentureOne travel card.

I don't see any of the major credit unions on your burn list; NFCU and PenFed both have travel cards; you might want to give them a shot as well.

[Shooting-For-800]

Merrick Bank is a fair bank for credit challenged.

Keep checking Cap One, they are the most forgiving and the fastest to do so.

All can forgive, some take longer than others.

GL!

[Jeffster1]

USBank offers a secured version of their Altitude Go Visa with a deposit of up to 5K which will be your CL. 

[IsambardPrince]

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@cg91 wrote:

Hello all,

As the title states i basically burned every major credit card company in my bankruptcy. (Will list below). I am wondering what if any of the major issuers I can get a travel card with since my new job has me traveling a lot. I understand I probably have no shot with anyone but just figured I'd ask.

Heres some info: I filed in January but didn't get discharged until May 31st. Here's what my scores look like now:

Experian: 601

TU: 651

EQ: 674

Current Accounts:

Mission Lane: 750 CL 1 percent Utilization, paid off in full every month.

$7,400 Car loan (not reaffirmed, co-signed on family members new loan to help my score).

Companies IIBK:

Chase

AMEX

Barclays

Cap One (preapproval tool tells me to get lost).

BofA

Discover

Petal

Carvana

Credit One

Fortiva

TD Bank

Comenity

Synchrony

Looking back, thank God for BK I put myself in an awful hole. Thankful for any advice I can get! Thank you in advance!

---

I'm guessing your biggest problem was (these numbers are ballpark figures for illustration, not literal) Carvana paid someone about $5,000 for their problem car, marked it up to $18,000, and charged 19% interest? Even if you paid it off, the convicted felons and the guy charged with about 80 misdemeanors in Illinois for not mailing people their titles and misusing temporary registrations probably would have been a problem.

Everyone I know who sold a car to Carvana told me a story like a transmission that was shifting badly and Carvana came out and handed them a bunch more than they thought they could get without even test driving the car. Where do you think the cars come from?

Co-signing a loan lights a fuse on a bomb that will go off eventually. If they're so sketchy they can't get past any bank, you shouldn't volunteer your future income for when they screw the bank. I trust we've learned?

As for the banks you burned, there's enough bottom feeders in there that if you really want to get started on a completely new mess many of them wouldn't care. If not now, eventually.

Unless you can pay cash for something that's a pig in a poke but doesn't cost enough to wipe you out, get a two year off-lease with a Certified Pre-Owned warranty. That way if it immediately starts breaking down all the time and the dealership deploys the parts canon, you don't have a stack of repair bills on this mistake. Odds are, you don't know how to fix a car like I do.

I see people who trade a car in that they managed to put 50,000 miles on in only two years and it gets "certified" with no history of oil changes and then the dealership runs a motor flush through them to try to get them past people. If there's no documentation that the thing's been serviced, that goes very negatively against the value. By the time it's been so neglected that you're talking about motor flushes, chances are there's some damage.

Carvana isn't even as upfront with you about their cars as most dealerships are. You can't go test drive it and run it by a mechanic until you paid for it already and then there's some 7 day window where it will cost you money to send it back (and traded your car in maybe, so nothing to get to work in if you complain about this car), so many people don't and then they get what they get.

[MileHigh96]

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@cg91 wrote:

Hello all,

As the title states i basically burned every major credit card company in my bankruptcy. (Will list below). I am wondering what if any of the major issuers I can get a travel card with since my new job has me traveling a lot. I understand I probably have no shot with anyone but just figured I'd ask.

Heres some info: I filed in January but didn't get discharged until May 31st. Here's what my scores look like now:

Experian: 601

TU: 651

EQ: 674

Current Accounts:

Mission Lane: 750 CL 1 percent Utilization, paid off in full every month.

$7,400 Car loan (not reaffirmed, co-signed on family members new loan to help my score).

Companies IIBK:

Chase

AMEX

Barclays

Cap One (preapproval tool tells me to get lost).

BofA

Discover

Petal

Carvana

Credit One

Fortiva

TD Bank

Comenity

Synchrony

Looking back, thank God for BK I put myself in an awful hole. Thankful for any advice I can get! Thank you in advance!

---

Out of the one's that you burned, I also burned CapOne, Credit One, Comenity, Synchrony, Discover, AmEx, and Chase.  AmEx is almost a guaranteed blacklist forever unless you pay them back and even then, it's a minimum of a 61 month wait post-BK, and they still might not let you back in.  Chase is another one with a VERY long memory from what I understand.  I haven't even attempted a pre-qual with them because I know it will be a very long time, if ever they would let me back in.

Now with CapOne, some people have gotten back in with them just a few months after their BK, with me, it took 10 months, but they still let me back in and now I have three of their cards (4 if you count the CapOne backed Kohl's card which will be upgraded to a Visa next month).  You can keep checking their pre-approval page and once it says you are pre-approved, it's a rock solid one and you WILL get one of the cards they have pre-approved you for.  

Comenity is another one that is forgiving, but it took longer for me to get back in with them, I think just over 2 years post discharge, but now I have three of their cards and my CL on my current cards is better than it was before with them.

Everyone says Disco is forgiving, and I only burned them for around $1K in my BK7 and here it's now more than 3 years post discharge and they still show me no love, yet others get right back in with them almost immediately.  Not sure why they hate me so much, but they're another one where you can just keep checking their pre-qual page to see if they have an offer for you.

And lastly, Synch is another one that people have gotten back in with after burning them, but they are the same as Disco for me, more than three years later they still show me no love even though there's only one of their cards I really want.  Hell, they won't even approve me for the secured Amazon store card 🤣

And Credit One is forgiving too.  I am prequalified for several of their cards now but I haven't pulled the trigger on any of them because I just don't want any of their cards right now, but they do have some with half decent rewards and no AF's.

So don't give up, there's definitely hope, and I will echo what @Horseshoez said, PenFed is a decent one and they were BK friendly (at least they were when I applied, I got one of their cards 4 month post-discharge) and if you can get in with NFCU, they are phenomenal and they are very generous with their credit lines.  Two of their cards that I have are my highest credit limits by far and they are great to deal with.

And as a caveat, on everything that has to do with the credit game, YMMV.  So best of luck on your rebuild!