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Post Chapter 7 BK discharge

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Anonymous
Not applicable

Post Chapter 7 BK discharge

 Does anyone know what cards are the most leniant after a chapter 7 BK discharge? I had a Capital One card that I had to include in my BK, since I've been added as an AU on my wife's Cap 1 card, but if I do their prequal, they say I do not qualify for an offer. I know some companies it's an automatic turn down with a recent BK, obviously I would like to avoid those. I was approved for a Paypal Mastercard (500), Old Navy (300), Target (500) and Fingerhut (1000). I started rebuilding in Jan 2016 and now my scores are beginning to come up.

Equifax (594) Experian (665) TU (627)

Message 1 of 18
17 REPLIES 17
Anonymous
Not applicable

Re: Post Chapter 7 BK discharge

I would try for a Capital One Platinum OR Barclaycard Rewards Mastercard. I think you have an okay shot at both. Capital one has never given me a pre-qual when I tried and I cold apped for every one of their cards I have.

Message 2 of 18
AverageJoesCredit
Legendary Contributor

Re: Post Chapter 7 BK discharge

You could try with Navy Federal Credit Union. They seem to be a rebuilders dream. All you need to do is join via Navy League San Diego Chapter if you have no affiliation. Looks like your off to great start, just try not to over app. We can sometimes try to get it all too soon which then leaves us with useless hps on our report. Been there done that so just take it nice and easy. Best of luck Smiley Happy
Message 3 of 18
Anonymous
Not applicable

Re: Post Chapter 7 BK discharge

I would love to join Navy Federal, my parents were vets but have passed. I inquired and was told I needed to know an active duty family member. You mentioned Navy League San Diego chapter, what do I need to join there? I live in Las Vegas but I would even drive to SD if I could become a member. Thank you very much for the info.

Message 4 of 18
Anonymous
Not applicable

Re: Post Chapter 7 BK discharge


@Anonymous wrote:

I would love to join Navy Federal, my parents were vets but have passed. I inquired and was told I needed to know an active duty family member. You mentioned Navy League San Diego chapter, what do I need to join there? I live in Las Vegas but I would even drive to SD if I could become a member. Thank you very much for the info.



I joined Navy Federal about a month ago with no family members in the military. And I found the information on this site.

 

Here are some threads that I read to point me in the right direction:

 

http://ficoforums.myfico.com/t5/Personal-Finance/Navy-Federal-CU-The-REAL-way-in-for-those-that-dont-qualify/td-p/4598275

 

http://ficoforums.myfico.com/t5/Personal-Finance/NLUS-San-Diego-alive-and-well/td-p/4640823

 

http://ficoforums.myfico.com/t5/Personal-Finance/NFCU-through-Navy-League-Time-Line/m-p/4687676/highlight/true#M10347

 

There are plenty more threads in the Personal Finance section of the forum that you can read through. Hope this helps.

 

Edited to Add: If you join via Navy League there is no need to drive to San Diego for membership. You can join Navy League online. The posts will explain the procedure.

Message 5 of 18
Anonymous
Not applicable

Re: Post Chapter 7 BK discharge

I believe Capital One makes you wait one year from date of discharge if you included them.  I had a small Cap 1 card included in mine, applied a year later and was approved for $3,000.  That card is now up to $10,000 and my 6 month sp cli date is next month.  Give them a shot and you may be surprised at the results.

Message 6 of 18
Namaste7
Established Contributor

Re: Post Chapter 7 BK discharge


@Anonymous wrote:

 Does anyone know what cards are the most leniant after a chapter 7 BK discharge? I had a Capital One card that I had to include in my BK, since I've been added as an AU on my wife's Cap 1 card, but if I do their prequal, they say I do not qualify for an offer. I know some companies it's an automatic turn down with a recent BK, obviously I would like to avoid those. I was approved for a Paypal Mastercard (500), Old Navy (300), Target (500) and Fingerhut (1000). I started rebuilding in Jan 2016 and now my scores are beginning to come up.

Equifax (594) Experian (665) TU (627)


There are some great threads in the BK forums that support rebuilders shortly after BK and a really good thread on strategic FICO score plan (700 FICO in 24 months or less). Perhaps focusing on building history with your current cards, you may likely receive more quality approvals in the next 12-24 months. Good luck in whatever method you choose during rebuild.
~~MMXX~~
2024 Goal$
2023 Goal$
FICOs 760+
Message 7 of 18
Anonymous
Not applicable

Re: Post Chapter 7 BK discharge

Thanks for the heads up, I will try Cap 1 again here soon.

Message 8 of 18
Anonymous
Not applicable

Re: Post Chapter 7 BK discharge

Thank you so much for the helpful info on NFCU, I will use this info wisely.

Message 9 of 18
Anonymous
Not applicable

Re: Post Chapter 7 BK discharge

Is it easier to get more cards with them after the first one gets approved, do they send you offers for other cards?

Message 10 of 18
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