Chase Credit Cards and Bankruptcy

[FICONCLINED71]

First of all I am 3 years out of Chapter 7 BK.  I have Chase Checking Account and Savings and I have AMEX Savings Account. Chase and AMEX was not included in my BK from 3 years ago because I did not have either one of them 3 years ago. Now I heard that you have to wait 61 months before getting in with AMEX and I understand that.   

I currently have the following cards:

PenFed Power Cash - $3000 

PenFed Platinum Visa Siig Card - $7,000

NFCU More Rewards AMEX - $5,000 (Third-party card but I get AMEX benefits)

DiscoverIT Secured Card - $200 (getting ready graduate hopefully, right at 7th month)

Apple Card - $2000

Mercury MC - $2,500

Ally Everyday Cash Back MC - $2400

So honestly I feel blessed to have gotten this far after my BK.  I have been "gardening" and working really hard. 

BUT......... My question is if you have a BK on your credit report, it is impossible to get any Chase Credit Cards????  I heard that you could after the BK falls off and then I heard that you will NEVER be able to get one if a BK was ever on your report.   

[FireMedic1]

Long as a BK is on your reports. No Chase for you. AMEX is 61 if they werent burned. I left Chase after being a customer for yrs 4-5 months ago with a 7 yr old BK and still a no go.

[TRC_WA]

I've never had a Chase account and they still won't touch me because I have a 6+ year old Ch 13 on my reports.

I'm sure I'll get in with clean reports... but not before.

[Rogue46]

I'm 8 years post bk7 and was approved for a Freedom Unlimited a few months ago. They were not included in the bk.

[Brian_Earl_Spilner]

Chase's official policy is if a bk is showing on your reports, you're blacklisted for 10 years regardless of type. 1 year for other financial products like auto. There are some people that got in sooner, but for the most part, they were chapter 13 and the bk was already off the report so chase never saw it. Those with a chapter 13 that applied while still reporting ended up being blacklisted for the full 10 because chase tracks everything and forgets nothing. There are also some outliers that have been approved at the 5 or 6 year mark with bk still on the reports, but that is definitely not typical. 

[FireMedic1]

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@Rogue46 wrote:

I'm 8 years post bk7 and was approved for a Freedom Unlimited a few months ago. They were not included in the bk.

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Theres always one that falls thru the cracks on many of the post BK restricted cards. Congrats!

[Namaste7]

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@FICONCLINED71 wrote:

First of all I am 3 years out of Chapter 7 BK.  I have Chase Checking Account and Savings and I have AMEX Savings Account. Chase and AMEX was not included in my BK from 3 years ago because I did not have either one of them 3 years ago. Now I heard that you have to wait 61 months before getting in with AMEX and I understand that.   

[...]

BUT......... My question is if you have a BK on your credit report, it is impossible to get any Chase Credit Cards????  I heard that you could after the BK falls off and then I heard that you will NEVER be able to get one if a BK was ever on your report.   

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Your question: In the last 24 months, there are more favorable data points for Chase Approvals with a BK reporting. The best option appears to be the Chase Amazon Prime Visa, with some approvals less than 7 years post filing. For the best long-term results, I suggest picking up AMEX at 5 years and 1 month post filing and hold for Chase when you're reports are clean (free of negs and BK reporting) and you've closed subprime and low credit line accounts for the strongest approval. 

MyFF Chase Approval DPs with BKs: Re: Bankruptcy with Chase. How do i start repairin...

• CSP | IIB (BK7) app DP : Chase CSP
• Amazon Visa | 20k approval and IIB
• Freedom Flex | IIB'd 11 years ago
• Amazon Visa | 8-yr old CH7
• Amzon Visa | 9-yr old CH7
• CSP | CLI with a BK
• Hyatt | Approved with BK and over 5/24

These are DPs on the Approvals board between 2021-2023. Approvals are not guaranteed, but certainly possible.

[FICONCLINED71]

Thank you!  I honestly want to close the Mercury Card because there are no perks or rewards on this card. I got it  But I would wait until I obtain the AMEX card or pay off and close the Mercury and Ally Cards befor applying for AMEX?  I have already paid off the Mercury Card.  The only thing I have on it is my Spotify subsctiption.  That card is in the sock drawer.  I am only using it for that reason to keep something on it

[Namaste7]

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@FICONCLINED71 wrote:

Thank you!  I honestly want to close the Mercury Card because there are no perks or rewards on this card. I got it  But I would wait until I obtain the AMEX card or pay off and close the Mercury and Ally Cards befor applying for AMEX?  I have already paid off the Mercury Card.  The only thing I have on it is my Spotify subsctiption.  That card is in the sock drawer.  I am only using it for that reason to keep something on it

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If I were in your shoes, I'd try to grow the two PenFed cards, the NFCU card, and the Apple Card to an average credit like of $7,500 or higher. Prior to applying for the AMEX card in two years, cut any card with a low CL (<5k or 7.5k threshold), an annual fee, or a lender that you do not want to continue a relationship with. 

This recommendation may be boring, but sometimes less is more. 

[FICONCLINED71]

Thanks! Will do.  Because I really do no like the Mercury Card.   I was just trying to build my credit back up after the bankruptcy.  That was my main goal.   I know they always say do not close your cards but I am definitely closing this one.   Thank God it is not my oldest card.   I am really thinking about closing it now as in today!!!!!!  But I know that my score will drop.  Just wish I knew how much.