Ok, I think we've all got a pretty good handle on who will/won't approve with a BK showing... so let's have some fun!
I'm a firm believer that a strong negotiator can get anything done when it comes to banking, even things that seem impossible. That said, I think we should become our own horses and figure out how to recon denials from Chase, Citi and AMEX. There HAS to be a way back in with our BK's still reporting, I'm convinced.
Once I'm done buying this damn house, or get a final denial, I'll be a guinea pig on Amex and Chase. I have a feeling that Citi is pointless for me, as they were about $30K of my BK. I discharged about $1800 on Chase, but I have no problem paying that back, if necessary.
One other note: Back in the '90s I had an Amex that was PIF and closed after being about 20 days late, so I may have an "in" with them.
Here's the list of the Primes and what we know about them post BK:
- Chase
- Asks if there's a BK reporting right on their app
- Instant decline if BK reporting
- "Appreciates" "relationships"
- Rumors that if you've PIF Chase accounts that are BK'd AND have a Checking/Savings relationship, Personal Bankers can get you through Recon.
- CITI
- Instant Decline if BK reporting
- AMEX (Centurion Bank, not the fake ones)
- Instant Decline if BK less than 7yrs 6mo 1day old
- Possible decline if BK reporting at all
- They have a rebuilder program for people that have c/o'd them in the past (Oasis)
So that's what we know (I'll update if there's more info).
We also know that it's possible to turn-around a Chase/Citi denial on recon. It happens quite often in the CC forum, though I haven't seen one with a BK reporting that was successful Transversely, know that it's nearly impossible to overturn an Amex denial on recon, though it does happen every now-and-then.
In addition, we know that Citi/Chase and Amex all have non-credit banking options that may or may not help "rebuild the relationship". In Chase's case, it's rumored that it does, Amex, allegedly no. Does anyone know about Citibank?
Finally, we also know that there are cards that are easier to get approved for at each bank. For example, it's easier to get a Chase Freedom than a CSP; Citi TYP is easier than Diamond Preferred; Amex SPG is allegedly easier than BCP, and Amex Charge Cards are allegedly easier than Amex Revolvers.
So here's the challenge: Let's figure out what it takes to get at least one card (co-branded or otherwise) from each of these banks w/ a BK still reporting. For those of us who've followed my guide, I'd suggest we try this at year 3 post filing. Assuming of course, you don't have too many other INQ's (you shouldn't) and aren't buying a house/car in the next year. That way if there is an INQ or two it really won't matter.
Thoughts?
Who's with me?
-SM
Starting Score: ~470 preBK(8/2010)I found this in whogavemecredit:
| Chase Freedom | TX | 694 | 709 | 698 | 34000 | Yes | 06/17/13 | Credit Card | Yes | 500 | 22 | Credit history of 6.5 months with a Capital One secured credit card. Applied online and was denied. Called the reconsideration line a few days later and was approved. |
It may be total BS or a fluke, but it's there.
-SM
You're only a year out anyway grassfeeder. If I were you, I'd sit on the sidelines and cheer for the underdogs! Either way, you'll reap the benefits of our experiences.
-SM
Note: I'm using "our" here very liberally, so far it's just me and the crickets.
SM, I'm willing to guinea pig at 3 years out! But hot damn, this will be tough. I do believe ANY bank can be turned with enough incentive. I just don't think I'm packing that much heat at the moment. 
Starting Score: 501
@ChistineNJ wrote:
Concerning Chase I have read somewhere on the www to apply on a tuesday around noon (lol im only reporting what i have read) never app online call the backdoor number for an analyst.
HAAHAHHA! I wrote that! It's in my BK recovery guide (though not specific to Chase)! You get the best chance to get a good recon analyst on Tues/Weds. And, because I wrote it, I completely agree!
Shols, when was your discharge?
I'm 3yrs from filing on August 29th-ish. But I've got to get this mortgage thingy squared away... I'm either going to get declined flat-out (there's a title transfer (short sale) on the house I surrendered in Nov 2012) or I'll fight my way to an approval. NFCU has already told me: #1 Scores don't matter, and #2 We don't follow the FHA guidelines, we judge you on your own merit after the BK/SS. So there's a chance... just need another $5K for my downpayment and I'm applying.... come on AAPL stock!
-SM
I am 5 years out of Chapter7 and I was approved for a Citibank card. It was for a low credit limit of 500. I called immediately for a credit line increase and was not given one. I charged a 100 item on the card. Paid it before getting the statement and then closed the card because it lowered my average credit history below 8 years average. I have credit cards with limits of 17500,15000, (2)10000, 7500, and a 5000.
Starting Score: 610Hmmm... that's interesting, Zora. Which Citi card was it? Did you discharge them at all in the BK?
-SM
Yes, I believe I discharged them for approx 3300. I was approved for the citi advantage card. My fico score was Exp 697 at the time. I am waiting for the cancellation to hit my credit to see if it makes any difference since it lowered my age of account average.