Discover Card Charge-Off from 2011

[schsa210]

As the title says, I had a Discover card charge-off in 2011 with a charge-off balance of $1850.  Instead of taking a settlement, I was able to pay it in full last month (May 2015).  Any idea if I will be able to re-apply for a new card and if so, how long should I wait before applying or should I just be happy with the PIF and forget about becoming a future Discoverian?

But I do miss the way that credit limit grew so much within a few months time, and I want that relationship again with them.

[B335is]

Discover was difficult for me when I had any negatives on my CR. only when they aged off would they approve me. They seem to be more forgiving if there's very few other accounts added though. I'm not sure how long you would need to wait for them to approve you again though.

[bodybuilder510]

I would wait at least 24 months and then apply. Of course, everything else being paid off and few cards growing with you by that time.

[schsa210]

thanks for the info and advice. i will be paitient and give it some time.

[pizza1]

They are weird...I got their card in February, and I have crazy inquiries, 2 PR ( BK, and paid state tax lien), and 23 IIB derog acts showing, plus 2 30-days from 2009. Its a total crap shoot in what they are looking for! I had applied with them years ago, when my credit was good 790's, and long before my BK, and they declined me. now..they approved me 1.6 yrs post BK7 with all that crap on my reports. I have no idea what to tell you, LOL...Since my BK in 2013, I had applied with them I think 5 times...5th time was a charm

[schsa210]

Congrats on the approval!

How often would you apply with Discover? And did you get a ding on your report each time you weren't approved?

[pizza1]

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@schsa210 wrote:

Congrats on the approval!

How often would you apply with Discover? And did you get a ding on your report each time you weren't approved?

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first..let me say that im rebuilding, so do as I say, not as I do...Im really aggressive in my rebuild, and didnt like being told "no", LOL..

With that said.. for you..I might try to apply once a yr with them, or at the most every 6 months. Yes, you will get a HP (ding) on your reports each time you apply. 

[schsa210]

Thanks.

I wish I were more aggressive like you are, and I wa also thinking the same thing, about the applying every 6 months.

[pizza1]

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@schsa210 wrote:

Thanks.

I wish I were more aggressive like you are, and I wa also thinking the same thing, about the applying every 6 months.

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Im a different case Schsa210...

Everyones overall credit profile is different. I have a LONG history reporting dating back to  1999 with revolving accts, and a school loan from 2005 reporting, so my profile is completely different, and I can handle all the new accts/inquiires without getting AA (knock on wood) from my current creditors. I dont advise anyone to rebuild like I did, because #1, it probably wouldnt work for them. I also have several CC's closed in good standing from like 2006-2009 with $0 bal, helping my reports. Even with all my  new accts the last 4 months, my AAOA is still like 4-6yrs. Even though I have 23 negative accts showing, I have more dbl that in postive tradlines showing as well to counteract it. 

[schsa210]

No matter how many threads I ready, everyday there's a new and interesting story to find out about.  I'm glad your way worked out for you and I hope to have my scores up in the near future.  I will let my history build up for a few months then try them and see what happens.