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Reapplying for charged off credit issuers

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IcyCool7227
Regular Contributor

Reapplying for charged off credit issuers

I'm confused about something. I have had 3 deragatory credit card fallouts. For example, Chase Amazon was written off as a charge off but no collection. The other issuers are Barclays and US Bank. When I had applied for a Chase card they wouldn't approve me because of the deragatory relationship with their bank. Chase has now fallen off my credit report a few months ago so if my score improves and apply again, because it's not on my report any longer, would I get another chance of approval? Or do they consider that forever permanent? Over the last several years I have been doing much better with credit cards so I have that going for me.

As of: 3/28/24:

EQ: 785 (prev. 778 on 2/6/24; 773 on 1/26/24 & 750 on 1/7/24 & 626 on 6/7/24 & 652 in April 2023) - FICO 8
EX: 763 (prev. 755 on 2/6/24; 753 on 1/26/24 & 732 on 1/7/24 & 643 on 6/7/24 & 619 in April 2023) - FICO 8
TU: 759 (prev. 748 on 2/6/24; 744 on 1/26/24 & 689 on 1/7/24 & 6/7/24 & 654 in April 2023) - CreditKarma

Have:
- Amazon Prime Store Card: $5,000
- Capital One SavorOne Cash Rewards: $1,200
- Chase Freedom Flex: $500
- Discover it Cashback: $2,000
- Kohl’s Charge: $3,000
- Mercury Rewards Visa: $4,390
- Super Cash: Limit varies based on debit balance - doesn't show up in accounts anymore though on CRs.
42 REPLIES 42
bigseegar
Established Contributor

Re: Reapplying for charged off credit issuers


@IcyCool7227 wrote:

I'm confused about something. I have had 3 deragatory credit card fallouts. For example, Chase Amazon was written off as a charge off but no collection. The other issuers are Barclays and US Bank. When I had applied for a Chase card they wouldn't approve me because of the deragatory relationship with their bank. Chase has now fallen off my credit report a few months ago so if my score improves and apply again, because it's not on my report any longer, would I get another chance of approval? Or do they consider that forever permanent? Over the last several years I have been doing much better with credit cards so I have that going for me.


All of those issuers and especially Chase maintain internal Blacklist of prior bad accounts. While dropping off your reports certainly help with your scores and other issuers. It will have little to do with the internal BL. Only time and sometimes lots of that will help. In my case it took me 19 years to get off of AmEx internal BL for example. 

Message 2 of 43
FireMedic1
Community Leader
Mega Contributor

Re: Reapplying for charged off credit issuers

Chase has a looong memory. Are the other 2 CO's still on your reports with balances?


Message 3 of 43
OmarGB9
Community Leader
Super Contributor

Re: Reapplying for charged off credit issuers

You may get another shot with Chase, but if you do, it likely wouldn't be for a while. It's always a case by case basis, but in general, they tend to take a long time to forgive. And note that just because the derog is off your reports, it doesn't mean it's off the lender's internal records. Did you ever pay Chase back? If you had/do, that could help to an extent in getting back in sooner.


Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 4 of 43
IcyCool7227
Regular Contributor

Re: Reapplying for charged off credit issuers

Before yesterday I wasn't even aware of internal blacklists and thought that when it fell off my credit report it would be gone from their record as well when they ran a credit check upon applying again. No I never paid Chase but that has fallen off my credit report recently and the total was about $6800 - I just simply do not have that kind of money paying around.

 

I have almost the amount of money to pay the US Bank creditor back (around $2000) but with what I was planning to purchase this year it wouldn't be enough. Should I be paying US Bank back in order to get back into their good graces? Does US Bank ever take people off the blacklist - there is not a lot of info supporting that.

 

Finally it seems Barclays isn't automatically forgiving that I would be approved automatically and that it would seem to take time at least 10 years and a reconsideration phone call would do the trick. Correct? The only card that Barclays seems to have that's appealing is the Choice Privledges card which I had before. Most of their other ones don't even appeal to me. I think I'd like to have us bank and Chase back. BTW Barclays sent me to collections and the collections was paid off in March of last year as part of a settlement for around $1100 something.

As of: 3/28/24:

EQ: 785 (prev. 778 on 2/6/24; 773 on 1/26/24 & 750 on 1/7/24 & 626 on 6/7/24 & 652 in April 2023) - FICO 8
EX: 763 (prev. 755 on 2/6/24; 753 on 1/26/24 & 732 on 1/7/24 & 643 on 6/7/24 & 619 in April 2023) - FICO 8
TU: 759 (prev. 748 on 2/6/24; 744 on 1/26/24 & 689 on 1/7/24 & 6/7/24 & 654 in April 2023) - CreditKarma

Have:
- Amazon Prime Store Card: $5,000
- Capital One SavorOne Cash Rewards: $1,200
- Chase Freedom Flex: $500
- Discover it Cashback: $2,000
- Kohl’s Charge: $3,000
- Mercury Rewards Visa: $4,390
- Super Cash: Limit varies based on debit balance - doesn't show up in accounts anymore though on CRs.
Message 5 of 43
FinStar
Moderator Emeritus

Re: Reapplying for charged off credit issuers


@IcyCool7227 wrote:

Before yesterday I wasn't even aware of internal blacklists and thought that when it fell off my credit report it would be gone from their record as well when they ran a credit check upon applying again. No I never paid Chase but that has fallen off my credit report recently and the total was about $6800 - I just simply do not have that kind of money paying around.

 

I have almost the amount of money to pay the US Bank creditor back (around $2000) but with what I was planning to purchase this year it wouldn't be enough. Should I be paying US Bank back in order to get back into their good graces? Does US Bank ever take people off the blacklist - there is not a lot of info supporting that.

 

Finally it seems Barclays isn't automatically forgiving that I would be approved automatically and that it would seem to take time at least 10 years and a reconsideration phone call would do the trick. Correct? The only card that Barclays seems to have that's appealing is the Choice Privledges card which I had before. Most of their other ones don't even appeal to me. I think I'd like to have us bank and Chase back. BTW Barclays sent me to collections and the collections was paid off in March of last year.


Chase can be 50/50, but it depends on the loss, the type of loss, how long it's been, and/or if settled or paid. There have been some reports that some folks have been able to get approved upon reconsideration, but results will generally vary. All financial institutions keep internal records even if the tradeline drops off your CRs, it's those financial institutions that have the long memories.

 

US Bank is hit or miss.

 

Barclays - you might as well put that aside. Very rarely do they let some slip through the cracks, even if the CA was paid. Also, the Choice Privileges CC appears to have been recently discontinued.

Message 6 of 43
Remedios
Credit Mentor

Re: Reapplying for charged off credit issuers

I'd put US Bank to the further side of aside.

 

Stuff falling off your credit report has no bearing on internal records which all lenders keep. Unlike some others, neither Chase or US Bank will accept payment once account has been charged off. 

The only thing that works is time, but as stated upthread, that is going to be years and no one can put a checkmark on that particular calendar. 

 

Message 7 of 43
IcyCool7227
Regular Contributor

Re: Reapplying for charged off credit issuers

Thanks well I will ask each of them when the time is right. It might help to pay back Chase and US Bank but that takes some savings discipline and when all important stuff like living necessities that needs to be paid for first comes first.

 

it does seem that the Choice Priv. card is still there as of seeing it on the Choice hotels website but I think the Priceline cc is better. For the record I am in good standing with Amazon Prime by Synchrony Bank, Kohls Charge by Capital One, Tomo, and finally Capital One Savor One. I also paid off my balance with the PayPal Mastercard by Synchrony in a timely manner when it was closed for an error of a returned payment that really wasn't my fault - they didn't support the Porte bank account it came out of. I've also had their Care Credit card but didn't use it so they closed it and the Fan Cash Rewards card which was closed due to my score slipping a bit but every bill was paid timely there. I have had zero late payments since I started rebuilding my credit back in 2018. I'm at 614 with Experian, 741 with TransUnion and 724 with Equifax vantage scores. The score should be going up soon as I just got the Savor One card and a CLI with the Kohls Charge card.

As of: 3/28/24:

EQ: 785 (prev. 778 on 2/6/24; 773 on 1/26/24 & 750 on 1/7/24 & 626 on 6/7/24 & 652 in April 2023) - FICO 8
EX: 763 (prev. 755 on 2/6/24; 753 on 1/26/24 & 732 on 1/7/24 & 643 on 6/7/24 & 619 in April 2023) - FICO 8
TU: 759 (prev. 748 on 2/6/24; 744 on 1/26/24 & 689 on 1/7/24 & 6/7/24 & 654 in April 2023) - CreditKarma

Have:
- Amazon Prime Store Card: $5,000
- Capital One SavorOne Cash Rewards: $1,200
- Chase Freedom Flex: $500
- Discover it Cashback: $2,000
- Kohl’s Charge: $3,000
- Mercury Rewards Visa: $4,390
- Super Cash: Limit varies based on debit balance - doesn't show up in accounts anymore though on CRs.
Message 8 of 43
Horseshoez
Senior Contributor

Re: Reapplying for charged off credit issuers


@FinStar wrote:


Chase can be 50/50, but it depends on the loss, the type of loss, how long it's been, and/or if settled or paid. There have been some reports that some folks have been able to get approved upon reconsideration, but results will generally vary.


Agreed, I was fortunate to be among the "forgiven"; last month, just shy of 8 years after I filed my Chapter 13 (which burned Chase for something north of $10,000), they approved me for a new card.  Based upon numerous reports here I've been prepared to never get back in with them again; that said, AMEX hasn't been so forgiving.

I categorically refuse to do AZEO!

In the proverbial sock drawer:
Message 9 of 43
OmarGB9
Community Leader
Super Contributor

Re: Reapplying for charged off credit issuers


@IcyCool7227 wrote:

Thanks well I will ask each of them when the time is right. It might help to pay back Chase and US Bank but that takes some savings discipline and when all important stuff like living necessities that needs to be paid for first comes first.

 

it does seem that the Choice Priv. card is still there as of seeing it on the Choice hotels website but I think the Priceline cc is better. For the record I am in good standing with Amazon Prime by Synchrony Bank, Kohls Charge by Capital One, Tomo, and finally Capital One Savor One. I also paid off my balance with the PayPal Mastercard by Synchrony in a timely manner when it was closed for an error of a returned payment that really wasn't my fault - they didn't support the Porte bank account it came out of. I've also had their Care Credit card but didn't use it so they closed it and the Fan Cash Rewards card which was closed due to my score slipping a bit but every bill was paid timely there. I have had zero late payments since I started rebuilding my credit back in 2018. I'm at 614 with Experian, 741 with TransUnion and 724 with Equifax vantage scores. The score should be going up soon as I just got the Savor One card and a CLI with the Kohls Charge card.


Neither of them will be able to tell you when the time is right. They'll probably just say to "keep trying." It's all algorithm-based.

 

Honestly if you don't have the extra funds to pay, I wouldn't worry about it. I understand you'd like to get back in, and while paying them back (if they'd even allow you to, which @Remedios already alluded to they wouldn't) could've possibly helped, it still wouldn't have guaranteed anything.


Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 10 of 43
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