Applying for CC after BK7 question..

PhilyGuy2012 · ‎04-01-2014

I am looking into applying for a credit card.

Here is the situation: BK7 discharged just over a year ago, waiting for closure, hopefully this month. Reaffirmed house and car, did not reaffirm two credit cards (chase and GM). Had to file BK7 due to a bad business decision, not because I could not pay my personal bills. Never stopped paying my mortgage and car payments through the BK7 process, and before BK7 I was never late on my credit cards either. Fico scores are between 647 and 700, I make a good dime, and still have been current and on time with all payments.

If you feel comfortable providing the info: What was your credit scores when you applied for your first card after BK7, where you approved and not approved, what company was it, what type of card was it - secured or non-secured, and what was your credit limit?

Thansk

PG

PlasticOrPlastic · ‎04-01-2014

I got a capital one card the same day my discharge letter came in the mail (Mid 550's). About a year later I applied and got the Barclay Rewards MC (low 600's) with a $1300 limit at the 2.5 year mark I got a Discover card (TU FICO 644).

I did manage to get an Apple Visa as well as a second Cap1 as well.

I cant touch Chase, AMEX, CITI, or GE at over 3 years out.

MC9199 · ‎04-01-2014

I'm not sure what my scores were after BK 7 discharge April 2010, but I believe they were around 630-640.

June 2010 I got a Best Buy MasterCard (then it was HSBC) $500 limit, went up to $800 two years later.
Also around that time I joined Alliant Federal Credit Union and opened a savings account, did not apply for any credit.
Nov. 2011 got a Barclays iTunes Visa $1500 limit, now it is $6000.
May 2013 I applied for Alliant's Visa card, got a $15,000 limit.

Other info in my sig.

Gardening at least until April 30 2014--

FICO: 695 (as of 3/27/2014; M&T Bank Beacon 5.0 EQ FICO) | BK 7 Discharged April 2010 | Current Lines: OCCU Duck Visa $12,000 (1% util, opened 10/2013) | Alliant FCU Platinum Visa, $15,000 (5% util, opened 5/2013) | Barclays iTunes Visa $6000 ( 1% util, opened 11/2011) | Best Buy MC $800 (0% util, opened 5/2010 | M&T Bank Checking Overdraft LOC $500 (0% util, opened 1/2007)

Most recent scores (March 26 2014): EQ 701 | EX 751 | TU 705

Creditaddict · ‎04-01-2014

You are in a bit different place then most because you are carrying through what seems like most things...

What is reporting bad on your credit report, JUST those 2 cards or other business stuff?

Is your GM card Capital One?

PhilyGuy2012 · ‎04-02-2014

CA: I have one CC showing, the other just dropped off my reports all together for some reason. Then there are 2 or 3 negatives from the business. Two reports show 2 and one shows 3.

Seems like I should be go to go in applying for a unsecured CC from Cap One.

I will wait until my case is officially closed, wait a month or so, check my reports again, then pull the trigger.

Thanks all!

takeshi74 · ‎04-02-2014

@PhilyGuy2012 wrote:
If you feel comfortable providing the info: What was your credit scores when you applied for your first card after BK7, where you approved and not approved, what company was it, what type of card was it - secured or non-secured, and what was your credit limit?

No idea on scores but it was a secured Capital One card with a very low limit ($300 to $500).

Creditaddict · ‎04-02-2014

@PhilyGuy2012 wrote:
CA: I have one CC showing, the other just dropped off my reports all together for some reason. Then there are 2 or 3 negatives from the business. Two reports show 2 and one shows 3.

Seems like I should be go to go in applying for a unsecured CC from Cap One.

I will wait until my case is officially closed, wait a month or so, check my reports again, then pull the trigger.

Thanks all!

yes you should be good with a few different places... update once it's completed and we can go from there.