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Discover It after bankruptcy

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Member

Discover It after bankruptcy

My bankruptcy was discharged almost two years ago. Since then I've opened 3 credit cards : credit one 300
Capital One Quicksilver one 1550 and newly upgraded Capital One Quicksilver from Platinum 750. According to credit karma I had fair approval odds for Amex everyday blue cash. So I applied and got denied because of bankruptcy. My fico now is a 620 and all other scores are around 635. I just did the discover prequalify tool and it didn't not say that i pre qualified. It also didn't say there were no offers. Instead the Discover it card popped up being compared to a capital One Quicksilver with all the features. Should I apply? I'm so nervous, because of my denial from Amex. Before the Amex app I didn't apply for credit for almost a year. I also plan to finance a car next month with the help of capital One Auto Navigator. Should I wait until financing is done? I'm really in no rush. I just want more credit lines to boost my score past the 650 mark.
Message 1 of 33
32 REPLIES 32
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Moderator

Re: Discover It after bankruptcy

Disocver tends to like people out of BK's from the 100's of posts I have read on this forum with BK approvals w/regards to Disocver.. Maybe it is because they can't file again for x years or they think a person will be loyal..  Alot of very good success stories about Dsiccover approving out of BK usually about 8 months to a year after discharge.  Will let some of the BK people ring in on this one, but IMO it is part of their business model is to approve people with fairly recent BK discharges.  I personally think you have a pretty dang good change being two years out.  Obviously make sure your DTI and utilization are good before considering applying, etc.

Message 2 of 33
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Valued Contributor

Re: Discover It after bankruptcy

I was approved for a $2500 Discover It in March, about 2 years and 4 months after being discharged from Chapter 7 BK. Not only did Discover seem to consider me a good prospect as a customer, they aggressively pursued me. I was getting mailers from them literally every week offering their best available terms, a solid single-figure 23.49% APR plus 0% APR for the first calendar year on purchases and balance transfers. As a matter of fact, I was still getting mailers from them for several weeks after I'd applied and been approved!

Ch 7 BK discharged 11/28/14, credit rebuild well advanced. FICO:TU 680 FICO 8 (3/2/19) or 687 FICO 9/EX 694 FICO 8/EQ 685 FICO 8 or 674 FICO 9 (NFCU 3/3/19), VS 3.0 10/17/18: TU 702/EX 699/EQ 698. $92.9k revolving credit as of 1/31/19; $1K NFCU cashRewards Visa, $2K BJ's Perks MC, $5.1k Discover It #1, $6.5k Discover It #2 (new 3/12/18), $3.5k Petal Visa, $6k Paypal 2% CB MC, $6k Amazon Prime Store Card, $6k Walmart Store Card, $7k Apple FCU Platinum Visa, $7k Penfed Power Cash Rewards Visa, $11.8k Overstock Store Card, $15K Care Credit, $16K Cap One QS Rewards Visa Signature, $10k PenFed used car loan, $5k Navient student loan, $12.7k Lending Club loan. Gardening: 3 months, 19 days as of 1/31/19. 24 HP inqs total as of 10/12/18: 10 TU, 9 EQ, 5 EX (about half over 1 year old).
Message 3 of 33
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Established Member

Re: Discover It after bankruptcy

I was 8 months discharged when Discover email me an offer. i had a capital One Secured card at the time in which i was approved in January with 251 SL but I applied for the offer by Discover on April 26 and was approved for 1600SL. At the time applied my FICO 8 was EQ: 650 TU: 611 EX: 637

 

 

Message 4 of 33
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Valued Member

Re: Discover It after bankruptcy

I would wait to apply, keep checking the pre approvals ever so often. You will know when you are pre approved for discover when you get a specific apr. 


Fico 08 - 07/2015 | Ex - 574 | Tu - 614 | Eq - 600 |
Fico 08 - 06/2017 | Ex - 694 | Tu - 710 | Eq - 679 |
Message 5 of 33
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Frequent Contributor

Re: Discover It after bankruptcy

I'm biding my time for a Discover too. I learned to ignore Credit Karma and the like - they tell me Chase and Amex would want me but I know that's not true for a few years at least. 


CH7 BK Discharged 10/16
Oct/Nov 2016: EQ 632 TU 532 EX 573
Feb 2017: EQ 695 TU 673 EX 670
March 2017 EQ 702 TU 676 EX 673
April 2017 EX 683 (TU & EQ unknown)
May 2017 EQ 695 TU 685 EX 693
Feb 2018 EQ 704 TU 687 EX 694
Gardening since 9/7/17 Aiming for a mortgage October 2019
Message 6 of 33
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Valued Contributor

Re: Discover It after bankruptcy

Discover took me back in exactly 2 years ago in 2015 4 years out of my BK7 in 2011. My EQ F8 was in the 650s with about 3-4 INQs and Although I already have a few positive TLs when they approved me, they still gave me a 2nd chance considering I burned them for about $6K on my bk. So yeah Discover is not so sensitive when it comes to bk IMO but YMMV of course. I think you should give it a shot OP especially if you're not that worried about 1 hp.
BK7 dc in 01/2011 with FICO8 in the 500s

HPs EX 5 EQ 3 TU 1
AAoA 5y4m
UTIL 1% - 3%

$200K+ Total Limits







New cc TLs 0/6 ; 1/12 & 3/24
Message 7 of 33
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Contributor

Re: Discover It after bankruptcy

Pull the trigger and apply. 

 

BK13 DC in 12/15 (NOT IIB) and approved for $6K SL in 2/16. Current limit is $10.5. 

 

No CLI's for the past six months tho. 

 

Good luck. 

BK13 DC 12/15. 740 scores/18 inqs (about)
VentureOne 28K. Marvel MC 25K. PFCU: Promise 19K; PLOC 10K; Rewards 5K.
NFCU: Plat 15K; Flagship 15K; CLOC 10K
Barclays Aviator 12K; Jet Blue $500 (for the miles).
BOA 8K. Discover 10K/5K. 5/3 10K. PPC 7K
PPMC 10K. TD Ameritrade $1500
Message 8 of 33
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Frequent Contributor

Re: Discover It after bankruptcy

I'm 2 months post DC on a chapter 13.  Was just approved for a Disco for $800 (IIB), mine was a cold app.  Hubs was declined, interesting as his scores are higher.  

RBFCU Premier $25K, Sam’s Club MC $25K, Citi Exec WEMC $34K, Alliant Signature $20K, SSFCU $20K, Cap1 Venture $20K, Employer CU LOC $20K, Navy GoRewards $18K, 2nd NFCU Plat $14.7K, Citi Simplicity $18.2K, PenFed Power Cash $10K, PenFed PLOC $10k, Navy Platinum $12.7K, SMG $10K, PenFed Promise $12K, Total Rewards $8.5K, Discover It $2.5K, Discover It $2K, Cap One QS1 $850, Overstock $32K
Message 9 of 33
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Valued Contributor

Re: Discover It after bankruptcy


@kberly69 wrote:

I'm biding my time for a Discover too. I learned to ignore Credit Karma and the like - they tell me Chase and Amex would want me but I know that's not true for a few years at least. 


The mere fact that CK keeps telling me I have a "good chance" of getting a Chase card when I know for a fact that they won't even look at my application past the bankruptcy item on the report for seven years or more yet is just proof that their recommendations are for the birds. As for Discover, you'll know they seriously want you as a customer when they start sending you mailers - as they did me - with small-range or single-figure APR's.

Ch 7 BK discharged 11/28/14, credit rebuild well advanced. FICO:TU 680 FICO 8 (3/2/19) or 687 FICO 9/EX 694 FICO 8/EQ 685 FICO 8 or 674 FICO 9 (NFCU 3/3/19), VS 3.0 10/17/18: TU 702/EX 699/EQ 698. $92.9k revolving credit as of 1/31/19; $1K NFCU cashRewards Visa, $2K BJ's Perks MC, $5.1k Discover It #1, $6.5k Discover It #2 (new 3/12/18), $3.5k Petal Visa, $6k Paypal 2% CB MC, $6k Amazon Prime Store Card, $6k Walmart Store Card, $7k Apple FCU Platinum Visa, $7k Penfed Power Cash Rewards Visa, $11.8k Overstock Store Card, $15K Care Credit, $16K Cap One QS Rewards Visa Signature, $10k PenFed used car loan, $5k Navient student loan, $12.7k Lending Club loan. Gardening: 3 months, 19 days as of 1/31/19. 24 HP inqs total as of 10/12/18: 10 TU, 9 EQ, 5 EX (about half over 1 year old).
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