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BK Chapter 7 Discharge & Credit Cards

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BK Chapter 7 Discharge & Credit Cards

I filed for Ch. 7 BK which was discharged in November. My credit score went up to 657 right after the discharge and has stayed there. Of course, I don't have any debt and no credit cards. I tried applying for Capital One Quicksilver credit card but was declined. My aunt who also filed for Ch. 7 few years ago started receiving credit card offers one month after her BK discharge. Why does one receive an offer right away and another is denied? I thought with my credit being at 657, I would receive at least one offer. 

13 REPLIES 13
Legendary Contributor

Re: BK Chapter 7 Discharge & Credit Cards

Is your BK separately showing under public records in your credit report?

Message 2 of 14
New Member

Re: BK Chapter 7 Discharge & Credit Cards

Not sure if it's under "public records" - it's showing on my credit report. How do I check?

Message 3 of 14
New Member

Re: BK Chapter 7 Discharge & Credit Cards

Ok, so my BK does show under "public records" but don't they all after filing for BK?

Message 4 of 14
New Member

Re: BK Chapter 7 Discharge & Credit Cards

And I just rejected for a SECURED Capital Once Quicksilver. What gives? I thought it was meant to rebuild credit? 

Message 5 of 14
Community Leader
Senior Contributor

Re: BK Chapter 7 Discharge & Credit Cards

Hi SoniaK777! Are all three of your scores 657? Another thing to consider is which scores they are. If they are from Credit karma, they are not your true FICO 8 scores. Also, have you pulled your reports and gone through them to make sure everything is reporting correctly after your BK?

Current Scores: EQ 679;TU 647; EX 679 Gardening since 11/7/18
Beginning Scores-- EQ 632; TU 576; EX 619 FICO 08 (06/13/16) - BK7 discharged 11/2015
Message 6 of 14
New Member

Re: BK Chapter 7 Discharge & Credit Cards

Hi! Yes, I pulled my credit from one of the major credit bureaus and everything has been discharged. I used to have Capital One credit cards and signed up for Credit Wise and still get messages from them if there are any changes to my credit. After I applied for a credit card today, I automatically got an email from them saying my credit decreased by 8 points because the bank pulled my credit. Of course, I was declined. According to Credit Wise, my credit is now 649. I did not think that a credit score would drop 8 points if a bank checks your credit. That's a lot!

Message 7 of 14
Community Leader
Senior Contributor

Re: BK Chapter 7 Discharge & Credit Cards

It's a good idea to pull all 3 reports. They can be reporting differently. Also. the score Capital One Credit Wise gives you is a Transunion Vantage 3 score. Mine was significantly higher than my FICO 8. You can sign up for a free trial of CreditCheckTotal to get all three of your FICO 8 scores.

 

Capital One should send you a letter too, that should give you the scores the denial was based on. Capital One pulls all three reports when you apply, EQ, TU, and EX.

 

It could be too soon for CapitalOne, especially if they were included in BK. The Quicksilver is described as being for those with excellent credit, so when it's time you might need to start with the Platinum.

 

I'm sure it's just a matter of time before you get your first post-BK card. Smiley Happy

Current Scores: EQ 679;TU 647; EX 679 Gardening since 11/7/18
Beginning Scores-- EQ 632; TU 576; EX 619 FICO 08 (06/13/16) - BK7 discharged 11/2015
Message 8 of 14
New Member

Re: BK Chapter 7 Discharge & Credit Cards

The Capital One card I applied for was secured which required a deposit. It's supposed to be for those with bad credit, that's why it threw me off. 

Message 9 of 14
Moderator

Re: BK Chapter 7 Discharge & Credit Cards

If you included Cap-1 in that BK they more than likely will not issue you a new account till 1 year post charge off of that account. Some get lucky and get right back in others have to wait it out. For secured card you might look at St Dept FCUs card CUs are typically willing to help you get back on your feet.

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Message 10 of 14
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