Bankruptcy and then high limit cc's? how?!

[MugenCivicSi83]

Everywhere I look on here, people have filed bankruptcy and end up getting starter cards with huge limits...how?! I have a $47 collection from a medical bill i had no clue on and I can't even get a CLI on my chase freedom card which i've had for 3 years with a $2,000 CL and always made payments on time and currenlty only a 25% util as I just spend $500 in the last week. Explain how you guys are coming out of bankruptcy and getting this but I can't get squat and I have several tradelines with only 1 inquiry. 99% payment on time. missed one payment due to autopay failing! no charge-offs, no judgements. I have a car loan with $19,000 left and $65,000 in student loans all in good paying standing. My salary is 85k. What gives? i have 3 cc's and 3 store cards with less than 20% util overall. are my student loans what's killing me? if so, that's ridiculous.

I have montly activity on all accounts below.

Card     Balance/CL

Nordstrom $0 / $2500

Jared $2854 / $4187

Chase $488 / $2000

Wells Fargo $0 / $1800

Macy's $0 / $1000

Buckle $0 / $680

[Anonymous]

.I don't think they are coming out of BK and immediately getting those limits, they are building them up. Have you requested increases on your current credit lines? If not, you may not get them unless you ask. If you have, it may be times for some new cards.

How long have you had your cards? That may have some bearing too.

[thelethargicage]

Take everything on this board with a grain if salt.

[Anonymous]

Have you tried to get the medical bill paid and deleted? What about the late payment? Put yourself in the bank's shoes, if they see those things + bankruptcy it's not good.

[tussking]

For reference :

I started 11 months with a $1000 Cap One card and a $500 NFCU Card...I have basically used my cards for every possible transaction I make in my life then paid them either in full or off in 30-90 days. In my case I have been very forunate.

[Anonymous]

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@thelethargicage wrote:
Take everything on this board with a grain if salt.

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I can't speak for everyone, but my story is accurate. And I have no reason to doubt any successful rebuilds on this forum. No reason to lie. Who would lie about BK?????

To the op: after my BK, I waited 2 years before getting any type of credit. After 2 years, I got an auto loan. 2 years later (this past summer 2016) I started getting revolvers. I currently have 6. Along with my perfect payments on my auto and student loans (54k), I think taking it slow was helpful to my profile. 

The first two I applied for and actually activated have limits of 1k. I was also approved for credit one for $300 but I never activated. I believe that not opening that card actually helped me. The other revolvers have limits of 4K to 10k. I don't have any store cards or cobranded cards. 

I was denied for Amex and Discover. 

Fico TU 720 EQ 690 EX 708

I make low 6 figures. 

Every profile is different. I don't compare myself to any other BK'r because I would be setting myself up for failure. I would be applying for every card a BK'r was approved for and I'd only be hurting myself with probably a lot of denials and inquiries.

Focus on your profile and the reasons for the denials. That will set yourself up for success! 

[Anonymous]

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@Anonymous wrote:

Have you tried to get the medical bill paid and deleted? What about the late payment? Put yourself in the bank's shoes, if they see those things + bankruptcy it's not good.

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OP doesn't have a BK. Just asking how do people get such high limits post BK and they can't with one late and one medical bill.

[aussiesareforever]

My BK journey has been long and I am extremely proud of how far I have come. As another poster said, I started off with a $300 credit limit, read as many posts on MyFico, worked hard to be smart with my money and eventually ended up where I am right now.

I think everybody can have the same story. BK or not. Giving time enough time to do its thing, getting enough credit knowledge and making smart decisions. High credit limits won't be too far away from you OP!

[MugenCivicSi83]

mrflyguy: 

I dont' have a bankruptcy. I'm just asking how I can't get a decent credit card with my salary and no RECENT baddies, but people with BK can come out 2-3 years later and app for a cc and get a 15-50k limit.

[Anonymous]

I haven't read any BK post with your line up of cards with 15k+ starting out. Not saying it's never happened, but it's not common. 

Wells Fargo can be stingy. Chase likes to see history of high limits with other lenders. Both of these lenders are somewhat conservative imo.

High limits begats high limits. You should look at lenders who have a reputation of opening the high limit door. 

Have you pre-qualified for Cap1 Venture? Apped for Penfed? Or NFCU?