All, This is my first post. Thought to share some data points regarding getting approved for US Bank post-BK.
CH7 discharge: Jan 2018
FICO scores: 680's
Inquiries in the past 2 years: 3
No US Bank cards were IIB. Applied March 2022 for Altitude Connect Visa Signature for 50,000 signup bonus. Instant approval for $5000.
Credit accounts opened post-BK
@Dreamliner wow, that's an impressive rebuild list. Seems you never had low starting limits or subprime cards. Would you mind sharing the dates of each approval so I can get an idea of which how far after discharge those cards were approved. I'm just starting my rebuild and I'd like to have a similar road map as you.
tbanks for sharing!
Congrats. Still trying to figure out how you got some of those with 680's? Wow!
I am not sure exactly but I can explain my story/strategy. Maybe useful for someone.
I've been banking with capital one for more than a decade. I didn't have a credit card with them though. My annual income at the time of BK was around $60K and all of it was getting direct deposited into capital one checking. 2 months post BK, I applied for Quick Silver One (the annual fee version for bad credit) and was approved with CL $2,000. Used that card for about an year, always paying bills on time and in full.
1 year 2 months post BK, capital one offered an upgrade to regular no annual fee version of QS as well as from master card to World MC. Taking this as a positive sign, I requested for a CLI and they approved $3,000. A couple of months later, I decided to apply for a more premium Venture card and was instantly approved for $5,000. So I switched daily usage from QS to Venture and continue to pay on time and in full.
After an year (2 years 4 months post BK) got CLI on Venture to $8,600. At the same time, also applied and approved for Spark and Savor Cards with $5K and $10K respectively. Also, apped and approved for Amazon Synchrony card with $3K. So basically, 2 years 4 months post BK, I have had multiple cards with decent credit limits.
An year later (3 years 4 months post BK), I applied for Apple Card and was approved for $3K. This was relief to me knowing that other banks are willing to approve. In the following months Venture got a CLI to $10K, Amazon to $6K to $10K, Apple to $3.5K.
I let these cards grew until March 2022 (4 years 2 months post BK). At this time, I requested Venture to be upgraded to Venture X and got an instant approval. At this point, I wanted to establish relationship with other mainstream banks besides capital one but decided to stay clear of all banks that were IIB.
I wasn’t sure who to apply. There were many choices. So I checked card offers with excellent or outstanding approval odds in Credit Karma, Experian and TrueIdentity. Upgrade, US Bank, and Wells Fargo cards showed up in these services and had very nice bonus offers. So I applied for each of them and got instant approvals. Upgrade CL $17K ($400 bonus), US Bank CL $5K ($500 bonus), Wells Fargo $3K ($200 bonus).
Couples of key points that I believe to be helpful in my case are:
Nice job demonstrating good credit behavior and money management skill! 🎉
Congratulations on your approval! That's fantastic to see an approval from US Bank without a recon.
Great rebuilding too!
Congrats on all your approval. Overall, you used great strategies to acquire great cards. Time, patience and relationship banking factors played a huge roll to a mass such an awesome CL line up! Kudos!