Applying for new credit card?

[Anonymous]

Hi All, 

I recently joined this board and have found it invaluable in helping me improve my credit. I now feel confident I can join the 700 club sooner than I ever thought possible, but first I need to start cleaning up my current report, I'm well on my way there! I do have a rather random question though. Way back in the day when I was in college I had a Discover card that was charged off by Discover. It's been well over the 7 years and it's not on my credit report however my question is this: If you ever had an account with a company that was charged off, does that mean that you can never reapply for credit with that company again? I guess what I'm asking is this, if I ever want to get a Discover card again in the future (not that I would but this is for the purpose of illustrating my point) would they approve me or will I be permanently black marked in there records? 

Thanks in advance for your help!

[Anonymous]

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@Anonymous wrote:

Hi All, 

I recently joined this board and have found it invaluable in helping me improve my credit. I now feel confident I can join the 700 club sooner than I ever thought possible, but first I need to start cleaning up my current report, I'm well on my way there! I do have a rather random question though. Way back in the day when I was in college I had a Discover card that was charged off by Discover. It's been well over the 7 years and it's not on my credit report however my question is this: If you ever had an account with a company that was charged off, does that mean that you can never reapply for credit with that company again? I guess what I'm asking is this, if I ever want to get a Discover card again in the future (not that I would but this is for the purpose of illustrating my point) would they approve me or will I be permanently black marked in there records? 

Thanks in advance for your help!

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While some creditors/lenders do blacklist, some do not. Some will accept payment of the charge-off of balance owed and remove from blacklist and some will not. 

[Smug]

I had very large charge offs with cap 1, I now have 2 new cards from them.

[Anonymous]

Could be black listed.

Could not.

they could approve you but ask you to pay the balance off

They could approve you and just migrate the balance to your new account

Hopefully some people who have experience with Discover can give their experience.