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Secured card and Bankruptcy

icyhot
Valued Contributor
‎05-13-2019 11:53 AM
‎05-13-2019 11:53 AM

Secured card and Bankruptcy

I foolishly opened a Wells Fargo secured card a couple months before I was set to file, and the account was closed. It’s reported as Included in Bankruptcy on my reports, and it was maxed out so they just kept the security deposit. Will this hurt my chances of getting a card with them in the future? Are they forgiving after BK?
Ch 7 BK discharged 12/2018
Bank Cards: NFCU Flagship Rewards $25K | NFCU Cash Rewards $20K |NFCU More Rewards Amex $17K | PenFed Power Cash $12.5K | PenFed Platinum Rewards $12.5K | PenFed Pathfinder Rewards $10K | PenFed Gold Card $7.5K | PayPal Cashback Mastercard $5K | Apple Card $3.5K
Store Cards: Bergdorf Goodman $10.5K | Neiman Marcus $7.5K | Care Credit $7K |
Scores: EX 656 | EQ 667 | TU 680


Goal Card: Amex Platinum (Amex IIB, waiting for 5 year mark)
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Justme79
Frequent Contributor
‎05-13-2019 12:41 PM
‎05-13-2019 12:41 PM

Re: Secured card and Bankruptcy

Try NFCU or TD Bank, they graduate from secured after a few months.

 

Chapter 13
Date filed: 3/17/20
Meeting of the creditors (341): 5/20/20
Confirmation hearing: 6/11/2020
Deadline for filing claims: 6/17/20
Plan confirmed: 7/2/2020
Deadline for filing claims (Government): 9/14/20

Scores as of 05/08/21 (MyFICO Monthly Subscription/updates on the 8th of every month)
Equifax 666
Transunion 634
Experian 637

Open Accounts
Great Lakes (Student Loan) Pd Never Late - Perfect History/will not update until PIF $3,750 balance at $140 per month
Target (Survived Bankruptcy) Pd Never Late - Perfect History $2,300 limit/$0.00 Balance
Cartier (Survived Bankruptcy) Pd Never Late - Perfect History $8,000 limit/$0.00 Balance
NFCU Amex (AU) $25K limit/$10K balance (removing soon)
NFCU Secured Card (Trustee Approved) Card Graduated to NFCU Cash Rewards (Unsecured) $2K limit/will PIF each month before statement cuts
TD Bank Secured Card $500 limit/will PIF each month before statement cuts

All closed accounts are reporting correctly with $0.00 balance

Message 2 of 4
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FireMedic1
Community Leader<br> Super Contributor</br>
Community Leader
Super Contributor
‎05-13-2019 01:50 PM
‎05-13-2019 01:50 PM

Re: Secured card and Bankruptcy

Good question. Never seen that scenario. More than likely. Probably not knowing from here how WF operates. Try disco and the poster above suggestions.




Homeowner since Sept 2020. 2021 Explorer ST Chase 3.1%. Sharing my experiences after BK from learning here. Started 540's.
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pizza1
Community Leader<br> Super Contributor</br>
Community Leader
Super Contributor
‎05-13-2019 06:13 PM
‎05-13-2019 06:13 PM

Re: Secured card and Bankruptcy

WF isn't too friendly, but folks have gotten cards depending on certain situations, but I would guess minimum 1 year for a secured again. . Heck Im 6 yrs post DC, with an incredible rebuild, and I still get declined for from them for BK. Ive never had them before in my life either. oh well.
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