Any advice for a legacy bank card post BK7?

[Anonymous]

It's only been six-years since BK7 DC, but I like working toward a set goal.  I opened accounts at Citi, Chase, and BofA with the hope of one day being offered a pre-approval offer for a legacy bank card (Citi was not IIB).  

Some threads on myFICO Forums recommend getting a secured bank card while others say don't bother aftert having been approved for a few retail lines and two charge cards. 

Some say Wells Fargo--which was IIB--is easier to get approved for a legacy bank card if I establish a banking relationship with them, but now I live on the East Coast.  Some say apply for an auto loan through Chase, but I don't need a car.

Any advice or success stories to share?

[coldfusion]

You already have a handful of nice cards from several decent issuers (yes BarclayUS can be flaky but they avoid the subprime market).   Acquiring a secured card at this point would be a pretty significant step backward. 

If you want to open a checking account online with Wells Fargo don't let the fact that you live on the East Coast deter you, they don't care. 

While it is possible that there is an anecdote or two out there demonstrating otherwise Chase does not approve cards for applicants with a BK still reporting, even if they offered a preapproval, even if they were not IIB. 

[coreysw12]

The BK is gone from your reports in about 8-9 months, right?

If so, I don't see why there's a rush in trying to get in with a bank before then. Just wait til the BK goes away and then apply for whatever you want without any worry.

[JR_TX]

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@coreysw12 wrote:

The BK is gone from your reports in about 8-9 months, right?

If so, I don't see why there's a rush in trying to get in with a bank before then. Just wait til the BK goes away and then apply for whatever you want without any worry.

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BK7 stays on record for 10 years so no OP still has about 4 more years before BK drops.

[Anonymous]

No, actually.  The BK7 is from 2014, so it won't fall off for another four years.  Thank you for the feedback!!  I have to give up hope of getting back in with the banks before the BK7 falls off.  I read on here where two people were approved for legacy bank cards by Chase and Citi before the BK7 fell off, so I wanted to purse the same plan.  Thanks again for taking the time to bring me back to reality.

[Anonymous]

Thank you for your insight into Chase.  I'll have to give them a break from little ole me until the BK7 falls off.  I should to be grateful for how far I've gotten so far. 

I'll give some consideration to opening an account with WF to see if that will one bear fruit, but I'll be realistic given that they were also IIB.  Thanks again!!

[JR_TX]

@Anonymous Forget Chase as that's an auto decline. You will have to go through an hour of recon with them to maybe miraculously get a less than 10% chance of a toy SL! 

BoA and Citi will have to be a cold app as they never offer pre-approval (based on DPs) to people like us sporting a BK hat! 

I got back in with BoA (IIB) 5+ years post DC via 99/500 with EX F8 in the low 700s and 7 yrs with citi (IIB) $11K SL with EX+EQ Bancard 8 in the 760s. 

Good Luck!