Read on here people recon US Bank and told they need to wait 5yrs after BK following a denial. Always read they are very conservative and not BK friendly. I never burned them nor had prior business so im more curios.
However, whats not clear if this means 5yrs file date or diacharge date?
@Remedios wrote:I believe it's five years post filling
As far as conservative (having a deja vu moment here), some lenders won't approve at all while BK is present on CR, so I'd hardly put them in that category.
US Bank just like any lender can be "conservative" or "generous", but that's always profile dependent.
There are a few lenders who are "BK friendly" but that's simply their business model. After BK, options are limited, and some have elected to capture that demographics.
While risk is higher, it also ensures that their card gets used.
Thank you for your response, US Bank was never a thought for me until Experian and CK prompted me with "Good" chances for approval. Though I know better to steer clear and avoid paid advertisers couldn't help but wonder.
@Remedios wrote:CK is marketing ( their revenue source) but you're five years post filling, so if you wanted to try, you could.
Approvals with them are iffy at best for everyone, but it's a single pull.
If their cards aren't a good fit for you and you were going by approval odds without having a purpose for their card, don't do it.
Which lenders were included in BK?
I agree with you, i'm looking to limit my exposure and stay within my means and play with cards that suit my circumstance for now at least until BK falls. As for IIB I burned (Synchrony, Chase, Cap1, Wells Fargo). My focus primarily is getting ready for a new mortgage so I'm keeping new apps away for now until Q1"22. However, if I drink enough i may pull the trigger on the new Discover preapproval cash back card.
@Anonymous wrote:From what I have read on here over the years it appears that US Bank will not approve anyone with a BK on their report. I have never seen anyone being approved with a BK on the report no matter how old it is from US Bank. They may approve it as a secured card through Elan, but that I do not know. Many other prime banks are the same. Like Chase, BofA etc
There are many banks that will approve you with a BK on your report but you should really keep clear of the ones that won't until your BK falls off of your reports.
Thanks
Mark
I have been fortunate to get a US Bank secured card with a bk on my report. I am 4 years post bk and have had the card for almost a year. It has not graduated.
Didn't you have an experience with US Bank right after your discharge? Vaguely remember but, thought I read from one of your previous posts that you "almost or coul'd've" gotten approved? Could you share your experience here?