BK 7 Fell Off...What's The Next Step???

Lippy4246 · ‎10-23-2019

Well my BK7 finally fell off in Aug after 10 long years and all of my hard work and patience has paid off with FICO 8 scores in the 809-812 range. I have no derogs, my AAOA was 7 years (more later) and I just app'd and was approved for a Citi DC (this will drop my AAOA plus the hit for a new account). I unfortunately burned Citi, Chase, AMEX, BOA and Discover in my BK, but both Citi & Discover have let me back in the front door. Discover has been great and Citi has been a bit standoffish not giving me one CLI on my COSTCO card even after the BK fell off. Oddly enough they went ahead and opened the DC card for less than I was hoping, but hell I'm pleased they let me back.

So after giving you some background, I guess I'm sick and tired of the Barclay's and CapOne cards that don't grow or meet my needs. I'm not interested in travel cards, anything with an AF as I don't charge enough (as BK has taught me to PIF or you don't need it). I do value cash rewards and gas and groceries are two of my biggest monthly expenses. I was hoping for something with a 0% intro rate as I have a couple of bigger purchases (to me) next year I'd like to make.

I was thinking about apping to Chase or AMEX, but everything I read is elephants, Chase and AMEX never forget. I have tried the AMEX prequal tool and they shot me a few AF cards plus the Blue Everyday card in their list.

Any suggestions are greatly appreciated

FinStar · ‎10-23-2019

Yes, there's always them elephants, but there's plenty of folks whose profiles have had success post BK, even for some lenders who were IIB.

So, it appears Citi and Discover have been willing to approve you so that would seem to indicate you've got a portion of the cashback piece covered. You mention Barclays and Capital One. Which cards would those be? Any other CCs?

Lippy4246 · ‎10-23-2019

With Barclaycard I have the Rewards Card which gets one or two charges a year and remains in the drawer. With CapOne I have the Venture One and the QuickSilver. I now use the Quicksilver for the 1.5% cash back and once the BK fell off they finally gave me a $3,000 CLI. The Venture has been used sporatically and at one point had my highest CL. I used it last for an 18 month balance transfer. At one point they offered to combine the two into a Savor card, but I declined. I should have taken them up on the offer.

Anonymous · ‎10-23-2019

@Lippy4246 wrote:
With Barclaycard I have the Rewards Card which gets one or two charges a year and remains in the drawer. With CapOne I have the Venture One and the QuickSilver. I now use the Quicksilver for the 1.5% cash back and once the BK fell off they finally gave me a $3,000 CLI. The Venture has been used sporatically and at one point had my highest CL. I used it last for an 18 month balance transfer. At one point they offered to combine the two into a Savor card, but I declined. I should have taken them up on the offer.

You can always call Cap1 and tell them you had an offer to combine two into a Savor and see if they'll still do it. If they do, make sure it's not a new app.

If you do a lot if dining and entertainment, Savor should work well. Also decide what kind of card meets your other needs other than dining and entertainment, and then your other cards could be PC'd into another card from that lender. May not be possible, but sometimes it can be done. This will preserve your account age too. Barclays may not have any other product that meets your needs.

Lippy4246 · ‎10-23-2019

Well I just got the alert from Experian on the damage opening the Citi DC card did. I lost 3 points for the HP dropping me to 809 and 14 points for the new account dropping me to 795. My next question is when is the best time to app again without getting killed the new account?

Anonymous · ‎10-23-2019

@Lippy4246 wrote:
Well I just got the alert from Experian on the damage opening the Citi DC card did. I lost 3 points for the HP dropping me to 809 and 14 points for the new account dropping me to 795. My next question is when is the best time to app again without getting killed the new account?

Well, if you want the Savor card, you can try to combine the other Cap1 cards, and that shouldn't cost you any points.

New apps, well that depends on what your credit plans are. A new house or car coming soon, might be better to wait until after that. If there's nothing on the horizon, your score is good enough to take another hit, and they will heal fairly quickly, but that could bring you down to 760-770 range, which is still good but not in the excellent range.

The longer you wait for a new app, the higher your resulting score will be after the new card is issued.

FinStar · ‎10-23-2019

@Anonymous wrote:
@Lippy4246 wrote:
Well I just got the alert from Experian on the damage opening the Citi DC card did. I lost 3 points for the HP dropping me to 809 and 14 points for the new account dropping me to 795. My next question is when is the best time to app again without getting killed the new account?
Well, if you want the Savor card, you can try to combine the other Cap1 cards, and that shouldn't cost you any points.

New apps, well that depends on what your credit plans are. A new house or car coming soon, might be better to wait until after that. If there's nothing on the horizon, your score is good enough to take another hit, and they will heal fairly quickly, but that could bring you down to 760-770 range, which is still good but not in the excellent range.

The longer you wait for a new app, the higher your resulting score will be after the new card is issued.

Unfortunately, Capital One stopped the practice of combining accounts. There hasn't been any updates on whether that feature would be available in the foreseeable future.

Lippy4246 · ‎10-23-2019

I called Barclay's and that was a waste of a phone call. CapOne no longer combines accounts and the Savor would be a new app with a HP. On to better things.

Anonymous · ‎10-23-2019

@FinStar wrote:
@Anonymous wrote:
@Lippy4246 wrote:
Well I just got the alert from Experian on the damage opening the Citi DC card did. I lost 3 points for the HP dropping me to 809 and 14 points for the new account dropping me to 795. My next question is when is the best time to app again without getting killed the new account?
Well, if you want the Savor card, you can try to combine the other Cap1 cards, and that shouldn't cost you any points.

New apps, well that depends on what your credit plans are. A new house or car coming soon, might be better to wait until after that. If there's nothing on the horizon, your score is good enough to take another hit, and they will heal fairly quickly, but that could bring you down to 760-770 range, which is still good but not in the excellent range.

The longer you wait for a new app, the higher your resulting score will be after the new card is issued.

Unfortunately, Capital One stopped the practice of combining accounts. There hasn't been any updates on whether that feature would be available in the foreseeable future.

I'd still give it a shot. I've surprised even myself trying things and being approved. If they say no, no harm done. But I also have long histories with some CCCs and other accounts, like the cell phone company.

Anonymous · ‎10-23-2019

@Lippy4246 wrote:
I called Barclay's and that was a waste of a phone call. CapOne no longer combines accounts and the Savor would be a new app with a HP. On to better things.

It was worth a shot. When I converted to Savor 9 months ago when they still did them, the CSR told me probably not, but she could check with her manager. Came back and said yes.