BK Chapter 7 Discharge & Credit Cards

[Anonymous]

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wrote:

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!

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The score from Credit Wise is not a Fico score, it is a Vantage score, which no known creditor uses. Get your Fico scores from Myfico or Credit Check Total, then go from there.

Capital One can require up to a year from filing before approval.

[Anonymous]

What were your scores when you got the cards that you have and are they high limits?

[Anonymous]

Crediwise has my score at 657 less than one month post bk now but fico has my TU at 554. None of the FICO Score models come close to 657. As others said, get your real fico.

I was approved for capital one platinum but I have a student loan reporting 7 years of perfect payment history that wasn’t affected by the bankruptcy. I also prequalified for a $200 discover card but I will wait to apply until after I figure out my auto loan.

[Anonymous]

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wrote:
Crediwise has my score at 657 less than one month post bk now but fico has my TU at 554. None of the FICO Score models come close to 657. As others said, get your real fico.

I was approved for capital one platinum but I have a student loan reporting 7 years of perfect payment history that wasn’t affected by the bankruptcy. I also prequalified for a $200 discover card but I will wait to apply until after I figure out my auto loan.

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Really good point, Hotter! I also had/have a student loan with perfect payment history, and none of my card payments prior to BK were ever late. Plus, I waited for 6 months post-BK before apping. I have always thought having the installment loan that survived BK actually helped my rebuild. 

Also, I really think it is important to learn to live without credit. I learned to pay with cash for everything from filing to 6-months post-BK, and, obviously how to not spend beyond my means. I would caution anyone who's gone through BK to learn that. Because, even when you think you've learned it, it's easy to slip back into the routine of, "Oh, I'll just use my card," for that, and then not really pay it off before doing it again. It is a slippery slope.