New apps/Statute of limitations

[Anonymous]

Hello everyone,

I'm new to the forum, first post, but man I've learned a lot from all of you while browsing around on here.

I searched the forums, but I couldn't find a topic regarding applying for new credit with compaines you've burned in the past, and if that could restart the Statute of limitations.

Quick story, I went broke in late 2007, stopped paying everyone, and I completely burned AMEX, Wamu/providian, Cap One, Discover, Sears mastercard (Can't remember the issuing bank)

I never took a single call from the collectors, and since so many people went down in 07-08, I never got sued either, probably because of the backlog and/or bigger fish to fry. My total debt back then was maybe 20k, and I never paid anyone back at all.

in 2011 I was added as an "authorized user" on a BofA cash rewards card that got used daily, paid in full each month, with a healthy limit. BofA reported on all 3 of my credit reports.

By Jan 2015, all my baddies have fallen off my credit report and with that BofA card reporting, all of my Ficos are in the 750-775 range.

Last month, and for the first time in almost ten years I applied for a card (no inqs) I applied online for the Citi Hilton Signature card and was instantly approved for 5k. I was shocked in the best way possible! 2-3 weeks later, I had to test my luck, and I apped for the Citi Presitage Card (probably wasn't worth the fees but I had to see if they would give it to me) Applied online, instantly approved for $6500!

Now I'm feeling confident that my credit really is good again, it's shocking to say the least!

I chose Citi since I've never done business with them in the past, but now I'm wondering if I could get a discover card again or someone else. Obvisouly probably not Amex lol.

Does anyone know that if you app for someone you totally burned, if that could possibly restart the Statute of limitations (i'm in California)

P.S. in case anyone is wondering, I'm CA, and Citi pulled Experian for the Hilton signature card, and Citi pulled both Experian and Equifax for the Presitage card.

[NRB525]

Congratulations on the two Citi cards! It takes a while to get your credit back, but you seem to be on your way.

I find the Nolo books and websites to be very informative about legal / financial reference information. This might be helpful to you:

http://www.nolo.com/legal-encyclopedia/the-statute-limitations-ran-credit-debt-can-the-collection-ag...

[Anonymous]

Thanks for the link! I was just checking it out and it does look like a useful website for sure with a lot of good info on it.

I've done a few google searches and I still can't find the answer to applying for new credit with a bank you've burned in the past, and if that could re-open the Statute of limitations, just by applying.

[gdale6]

---

@Anonymous wrote:

Thanks for the link! I was just checking it out and it does look like a useful website for sure with a lot of good info on it.

I've done a few google searches and I still can't find the answer to applying for new credit with a bank you've burned in the past, and if that could re-open the Statute of limitations, just by applying.

---

Ummm, no apping with a creditor that you have previously burned doesnt restart the SOL, they may BL you though until you settle it or a lot of time has passed.

[Kirmie2010]

No applying for a card wont restart the SOL.

I have an active judgement im being garnished on from CapitalOne and they gave me 2 cards last year.  Once I created a new account online, I could see the charged off closed account in my profile, just not access it.

If you like the cards benefits I would just apply.  I see some people say a few companies have a blacklist but even those sometimes accept people that burned them.  Not sure how that system works but its not 100%.

Id go for the Discover they have some great rewards.  (for us not super rich people  )

[CreditDunce]

You can use the search feature for posts on this topic.  Many people post their success/failures with various lenders after burning a particular lender.   Some lenders are known (Amex, Chase) for black listing, others aren't (Cap1).

[Anonymous]

Congrats on the Citi's.  Amex normally forgives.  Not sure how long it takes.  And Discover is a good card with rewards.

[Anonymous]

Thanks for all the replies everyone, and the reassurance about the SOL.

Just for the hell of it, I apped Amex right now, and I got the instant rejection notice within about 2 seconds lol I'm still on their black list for sure! I hope I didn't eat a HP over that. I'll update the post if I did.