Does your high interest rate card have an annual fee? I was approved for one after CH7 and it has helped with my AoA through the years. It does have an annual fee that I gladly paid the first few years after BK. Now I call right after the AF is added to my statement and they always remove it. Wish they would do it once and for all but they won't budge. It has a 29% apr variable which has never gone up and I never carry a balance.
Just some food for thought.
I kept getting emails about the chase Starbucks Visa card, but I’m only 8, almost 9 months post ch7. I know chase is a minimum of 5 years before they can approved, but I took a chance and app’d For it. Is it normal that it wouldn’t be denied immediately? The response was they needed to review my account first and the process takes 30 days.
Has anyone seen this before with chase?
Your chances for the card are low IMHO, but the fact you got the 30-day notice means that Chase is going to consider your application. As others have said, convince the UW/credit analyst why you qualify for the card. We often rant about Chase's conservativeness, but there have been cases in which Chase simply blew our minds.
Keep us posted.
After weeks of waiting, I finally got a letter stating it was denied due to insuffient credit history. Called and the lady I spoke to said that my current card is only showing 6 months. They want to see a little more payment history. Pretty much similar to what Barclaycard said for the Apple Rewards. Apparently my store cards don’t matter. Only my credit cards.
I have 3 credit cards. A high interest reflex that’s only 6 months old (closing at 11 months), navy fed secured is 5 months old, and my discover secured is new. I paid off 2 of my store cards and I have a small balance on the 3rd. I really want to close them.
Thanks for the data points!
Chase usualy likes at least 1 year of history with bank-issued cards. I would garden with the Navy Fed. for 7 more months, and then apply for a Chase card.
With the $1 off every coffee shop transaction that Square's Cash App debit card offers, I don't know why anybody would even use the Starbucks Gold Stars program let alone the Starbucks credit card.
With the gold stars program, it takes 125 stars to get a free $3 drink, effectively a $62.50 spend, whereas with the Cash App debit card, every $62.50 spend would save you $31.25 instead of $3.
It's called the Cash Card issued by the Cash App (Square). It's free and has a lot of great benefits like $1 off at Chipotle, Chick-fil-A, Subway and 10% off Lyft & Whole Foods.
Here's my referral link for anybody interested. If you join Cash App with my link, we each get $5.