Reapplying for charged off credit issuers

[ScarlettHusky]

I burned Chase on a old Marriott Rewards Premier card back in the day. After spending time rebuilding my credit report and distancing myself from what got me into that hole years ago, I applied for the Disney Premier Visa after the old charge off disappeared from my report and my scored back then were around 670. It took me several reconsideration calls, explaining how I learned from when I was young & dumb with credit, explaining how I now have several cards with decent limits, my rock solid payment history for the past 2-3 years, and also really explaining how the card would benefit me (since I go to Disney parks on average every 2-3 months). It was a very long process with the initial app being declined, the first recon being declined, before I finally was able to get an approval on the second recon after being able to explain the reasons they declined me on both previous tries with this application.

It is possible, but it's very diffucult explaining everything and trying to overcome the reasons they want to deny you with. Good luck.

[Mutahar123]

NO. If you had a history of charge off with a specific bank, regardless of how old it is, most likely they will never approve you or approve you with small credit line in future. Remember derogatory accounts fall off from your credit history, not from the bank's database. But fresh credit can give you the opportunity to apply with a different banks. 

[IcyCool7227]

Well I would like eventually to have a new credit card with US Bank and since I used to bank with them with a checking and saving account over 10 years with nothing but excellent customer service it just feels right to pay it back in full on an 18 month payment plan of $139.58 to fulfill the $2,512.44 debt. I made that decision 2 nights ago as I was considering it. I tried calling them this evening to set it up but looks like I may have to reach them Monday. When I obtain another job, I could probably afford to pay this off even earlier. I can always call them to reconsider new accounts. Barclays's third party collection to Portfolio was already settled and paid back in 2022. The $6,800 to Chase was never paid as I couldn't afford it but that was already written off by them for tax purposes.

[BellaVie]

That's very interesting! Now that it's been 2 years, how has the situation been with them? Did they ever try to remind you of the old debt - or collect it in any way or take it from your new account? Seeing that you never paid them back, right? And what is your recent history and credit limit with them? Super curious and grateful for any info

[Horseshoez]

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@BellaVie wrote:

That's very interesting! Now that it's been 2 years, how has the situation been with them? Did they ever try to remind you of the old debt - or collect it in any way or take it from your new account? Seeing that you never paid them back, right? And what is your recent history and credit limit with them? Super curious and grateful for any info

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To whom are you responding?

[BellaVie]

I clicked respond to the person who said discover and I think capital one (or chase?) tried to sue and serve them but couldn't find them at the old address and now they've recently opened new accounts with those banks.

Does it not show who I've responded to?? Apologies. 

[Patient957]

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@BellaVie wrote:

I clicked respond to the person who said discover and I think capital one (or chase?) tried to sue and serve them but couldn't find them at the old address and now they've recently opened new accounts with those banks.

Does it not show who I've responded to?? Apologies. 

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Use the "Quote" button to insert the post you're replying to, especially in pages long threads.

Or use the @ key to reply to a particular user.

Either way makes it clear what or whom you're responding to.