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Has anyone been approved lately with a recent late payment in the last year or so?

New Contributor

Has anyone been approved lately with a recent late payment in the last year or so?

So I've been holding off for what feels like forever now due to these 2 late payments from Comenity. There about a year old. I've tried GW letters more times then I can count and they just won't budge. ( from what I understand there still to new) 

 

In turn I've been contemplating apping for some cards for the first time in years now , but feel like I'm gonna get denied just off the recent late. I've been wanting to get the lates removed before apping to give me a much better shot with AMEX , Chase , NFCU etc. But it doesn't seem like that's gonna happen.

 

Would you guys suggest I still take a chance ? My profile looks like this....

 

701 Experian score 

9 open accounts

8 credit cards & one credit builders acct

3 of the Cc I'm a AU and other 5 are my own all unsecured.

0 collections

0 inquiries

97% payment history 

6 yrs average age of credit 

1% utilization 

 

Discover It 1500$

Apple card 3000$

capital one platinum 700$

Capital one quicksilver 800$

victoria secret $700

credit builders loan 

 

Chase 25k (AU)

Macy's Amex 5300$ (AU 38yr old account)

Amex cash magnet 3000$ (AU)

 

I was getting pre qualifiers on Amexs website and a few others like HD / Lowe's for months now but ever since my utilization went down from 5% to 1% now the Amex and other website shows no pre qualifiers. 

I also recently joined NFCU opened a checking/savings account. Planning on moving a good chunk of money over into that account. There website is pretty approving me for all there cards but from what I hear there pre quals are not that strong.

 

my questions are as followed...

 

Would you guys still take the chance and app for a few new cards or am I right by thinking that those recent lates are going to get me denied every time ? I don't see them goodwilling them any time soon so I'm stuck with it for the next couple years , but want to be able to continue to build my credit and not be held back by them..Comenity just keeps telling me to challenge it with the credit bureaus but I don't see what that's going to do when I'm just asking for a goodwill. I feel like if I challenge it they will just verify the debt quickly and won't get me anywhere closer to having them removed..but maybe I'm wrong ?

 

Has anyone else have similar data points and been approved for a card with some of the bigger guys out there recently with also a recent late on your credit report ? Please tell me I'm not being crazy waiting all this time to app for a new card..I mean a denial isn't the end of the world but I don't want to app if it's just worthless due to the recent late. Maybe I'm better off apping for another card with one of the company's I already have like chase or Capital one but really want to spread those wings and get in with Amex , NFCU and chase eventually before I fill up my 5/24.

 

Message 1 of 8
7 REPLIES 7
Established Contributor

Re: Has anyone been approved lately with a recent late payment in the last year or so?

I would say it been more than a year but I do have a late on my report from mid '19 but I been able to get approvals even afterwards that were towards the end of '19 and including some recently. As long as its atleast a year and you have shown positive payments, not maxing out all of your cards, not seeking alot of credit within that period, you should have a good chance of approval. Some creditors such as citi are sensitive to lates so its generally best to make sure its atleast a year before applying (though there are other factors). Some like capital one might not be as sensitive and use other factors when determining approval (such as previous relationship with them which is one of the reasons why I was able to get a QS1 and a WWMC due to current/previous relationship despite the erroneous late remark (long story) that was on my report). What you could do is try prequalification pages with AMEX to see what your chances of approval are (especially since youre an AU, that sometimes factor in to their decision) since their prequal if usually a pretty good indicitator of your chances of approval. NFCU Is also a good place to try as well but if youre not completely sure you could wait it out abit and let the lates age more (eg to 1y6m).

Good luck! Just make sure not to overdo it or if you want to play it say you could wait until the 2 year mark since the lates would have a less of an impact on your score.

Message 2 of 8
Regular Contributor

Re: Has anyone been approved lately with a recent late payment in the last year or so?

Not in the last year but I have a late payment showing (3yr) and a collection and got approved for Penfed PCR, Lowe's and Care Credit. I guess the Star were aligned or something. 

Message 3 of 8
New Member

Re: Has anyone been approved lately with a recent late payment in the last year or so?

NFCU is big on relationships. I have had a relationship with them for many years. I think it is great you have waited as many creditors are new inquiry sensitive. I would take a chance with NFCU. I have two of their cards with nice limits and did the prequail prior to applying. Good luck. Keep us posted.

Message 4 of 8
Established Contributor

Re: Has anyone been approved lately with a recent late payment in the last year or so?

Check Amex's and chase's offers with their pre qualify tool, if nothing shows up you can still cold app for it. Navy federal is definitely a good option too.... they have a pre qualify tool as well but I think it has been deemed fairly inaccurate - do not apply for the flagship card first. Don't sweat a hard pull too much, one or 2 won't really hurt especially for very long. If it's a card you could really use for the long term then go for it.












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Message 5 of 8
Established Contributor

Re: Has anyone been approved lately with a recent late payment in the last year or so?


@addicted_to_credit wrote:

Check Amex's and chase's offers with their pre qualify tool, if nothing shows up you can still cold app for it. Navy federal is definitely a good option too.... they have a pre qualify tool as well but I think it has been deemed fairly inaccurate - do not apply for the flagship card first. Don't sweat a hard pull too much, one or 2 won't really hurt especially for very long. If it's a card you could really use for the long term then go for it.


I dont recall chase ever having a prequalification tool for their credit cards. Do you have a link?

 

EDIT: Nevermind found it

Message 6 of 8
Frequent Contributor

Re: Has anyone been approved lately with a recent late payment in the last year or so?

Oh, do I know about this! I have a 90-day late (or some reports say two 90-day lates, which I don't understand). Anyway, 90-day lates are very tough, far worse than 30- or 60-day lates.

 

My timeline:

November 2018, 90-day late finally caught up and up to date. Scores in the 500s rise to the low 600s.

December/January 2019: approved for an Overstock and Walmart card.

Feb 2019: Approved for a Discover unsecured card. (Scores were in the 630s, I think.)

June 2019: Approved for Navy Federal cashRewards for 1K.

September 2019: Approved for a Navy Federal AMEX for 17K (yes 17K) and a Citi Shell gas (non-MC) card.

February 2020: Approved for an Amex Cash Magnet for 1K.

And so forth and so on. I just went on a mini-"spree" and got approved for an Amex Blue Cash Preferred with an 8K limit. 

 

And did I mention through a lot of this I had high utilization (sometimes above 50%) on some closed credit cards I was paying off? Oh, and did I mention that I'm poor? (Low income.) Smiley LOL

 

Yeah, so yeah, I think you can consider apping now. You've used a lot more self-control than I did after my late! LOL!

 

If AMEX is giving you preapprovals, you've probably got some potential there too. I did get preapprovals for the AMEX Delta Gold card but was declined when I apped. So I am now a little leery about AMEX preapprovals. When I started getting preapprovals for many of their other cards, I was approved. 

 


Overstock $9,750, Walmart $2.5K, Discover IT Cash Back $2.4K, NFCU Flagship $5K (formerly CashRewards), Shell (Citi) $800, NFCU More Rewards $17K, AMEX Cash Magnet $1K, Citizens Cash Back $2.8K, Amazon Store Card $4.2K, Cap1 QS $1.1K, FBNO Visa $1.6K, AMEX Blue Cash Preferred, $8K, eBay MC $800 (RIP Green Dot Platinum Secured)
Current FICO8: EQ 700, TU 700, EX 688   Current FICO9: EQ 715, EX 714
Goal for December 2019: FICO8 640-700 (reached! Fico 681!) | Goal for December 2020: FICO8 685-700 (Reached! 690!) | Goal for December 2021: FICO8 700-740
Starting Score: 539  Current Score: 690  Goal Score: 760
My credit recovery journal

Message 7 of 8
New Contributor

Re: Has anyone been approved lately with a recent late payment in the last year or so?

That's a great credit journey you've posted - I appreciate it! I like to see others post what worked for them just to be able to somewhat compare and get an idea of where I'm at. I hope to soon be approved with some of the bigger guys. I just got my welcome letter for navy fed last week so that's a plus. Will be apping for a card with them very soon , and hopefully down the line the seconds navy fed card I get , I'll hit it big on. Thanks again for the help! 

Message 8 of 8
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