cancel
Showing results for 
Search instead for 
Did you mean: 

Post Chapter 7 BK discharge

stakknchpz
Contributor

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)

Filed CH7 BK 7/15. discharged 10/15
Rebuild started 1/16 with scores of (EQ 517)(TU 547) (EXP 534)
Current scores (EQ 624) (TU 607) (EXP 774)
Overstock 500/700 I Open Sky 200/closed I Pay Pal MC 500 I Fingerhut 700/1400 I Primor 250/closed I One Nevada CU 500/closed I Target 500 I HC Credit 6000 I NFCU 1000 I Capital One Quicksilver 1000
Authorized User on I Cap One 700 I Barclay Visa 500 I Discover 17,200
Message 1 of 18
17 REPLIES 17
Dave451985
Frequent Contributor

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
Community Leader
Mega 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
stakknchpz
Contributor

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.

Filed CH7 BK 7/15. discharged 10/15
Rebuild started 1/16 with scores of (EQ 517)(TU 547) (EXP 534)
Current scores (EQ 624) (TU 607) (EXP 774)
Overstock 500/700 I Open Sky 200/closed I Pay Pal MC 500 I Fingerhut 700/1400 I Primor 250/closed I One Nevada CU 500/closed I Target 500 I HC Credit 6000 I NFCU 1000 I Capital One Quicksilver 1000
Authorized User on I Cap One 700 I Barclay Visa 500 I Discover 17,200
Message 4 of 18
ItsPossible
Valued Contributor

Re: Post Chapter 7 BK discharge


@stakknchpz 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...

 

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/high...

 

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.

"Hover mouse over cards to see CL and APR info"


Message 5 of 18
jawshoeuh
Regular Contributor

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.


Green thumb since 11/12/2017
Message 6 of 18
Namaste7
Established Contributor

Re: Post Chapter 7 BK discharge


@stakknchpz 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~~
My Garden Goal: Double NW
Message 7 of 18
stakknchpz
Contributor

Re: Post Chapter 7 BK discharge

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

Filed CH7 BK 7/15. discharged 10/15
Rebuild started 1/16 with scores of (EQ 517)(TU 547) (EXP 534)
Current scores (EQ 624) (TU 607) (EXP 774)
Overstock 500/700 I Open Sky 200/closed I Pay Pal MC 500 I Fingerhut 700/1400 I Primor 250/closed I One Nevada CU 500/closed I Target 500 I HC Credit 6000 I NFCU 1000 I Capital One Quicksilver 1000
Authorized User on I Cap One 700 I Barclay Visa 500 I Discover 17,200
Message 8 of 18
stakknchpz
Contributor

Re: Post Chapter 7 BK discharge

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

Filed CH7 BK 7/15. discharged 10/15
Rebuild started 1/16 with scores of (EQ 517)(TU 547) (EXP 534)
Current scores (EQ 624) (TU 607) (EXP 774)
Overstock 500/700 I Open Sky 200/closed I Pay Pal MC 500 I Fingerhut 700/1400 I Primor 250/closed I One Nevada CU 500/closed I Target 500 I HC Credit 6000 I NFCU 1000 I Capital One Quicksilver 1000
Authorized User on I Cap One 700 I Barclay Visa 500 I Discover 17,200
Message 9 of 18
stakknchpz
Contributor

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?

Filed CH7 BK 7/15. discharged 10/15
Rebuild started 1/16 with scores of (EQ 517)(TU 547) (EXP 534)
Current scores (EQ 624) (TU 607) (EXP 774)
Overstock 500/700 I Open Sky 200/closed I Pay Pal MC 500 I Fingerhut 700/1400 I Primor 250/closed I One Nevada CU 500/closed I Target 500 I HC Credit 6000 I NFCU 1000 I Capital One Quicksilver 1000
Authorized User on I Cap One 700 I Barclay Visa 500 I Discover 17,200
Message 10 of 18
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.