Credit apping after bad credit gone

[Anonymous]

About 7 years ago I went through a rough time with credit cards and defaulted on citi bank card and BoA  and Discover.  They went to collections and have all just rolled off of the 3 credit bureaus EQ TU EXP.   My credit report has no negatives on it now.

How likely would those banks, citi, BoA, Discover, be to issue me a new card if I applied again?

[Hillbill]

I'm not 100% but I'm guessing not good. Even though they fell off your report, the lenders still know u had past accounts with them and let them default into collections.

[happypill]

I think you may be pleasantly surprised by Citi.  In the past few months, they have let back in quite a few people who had charge-offs etc. with them in the 6-7 yr timeframe.  A lot of people hit turbulence during this time right after the financial crisis.

My personal story was that I had a charge-off with Citi that is scheduled to roll off next month.  In November, they sent me a pre-approval letter for the Hhonors card and I was instantly approved for $11.5k.  I also added the AAdvantage card a few weeks ago.  Check the Citi pre-qual to see if you're pre-approved for anything.  I will say that my current scores are 700+ and I probably wouldn't suggest cold-apping unless your profile is solid (it seems like it should be based on your limited description).

With BofA, I had a similar charge-off during the exact same period of time.  I kind of got back in with them through the back door, with a secured card about a year ago that unsecured and ultimately was converted to a BBR.  They haven't yet approved me straight out for a new card yet, so not sure.  I'll probably try when my derog falls off my report in the next month or two, but I'd be interested to hear your report if you give them a shot.

I didn't have Discover in the past so not sure if they're willing to forgive.  When I got a card from them about a year ago I my scores were pretty good but my derogs were still about a year from falling off.  They have treated me like the bottom of a baby's diaper in terms of credit limit and CLI ($800 starting, and very small increases compared to others with similar profiles), but I'm thankful they let me back in.  The double rewards during the first year is very nice.

[Anonymous]

My current scores are about 700 across the 3 bureaus give or take a few points.

Have a total CL of $22,500.00 between all of my cards so far.  Walmart Store card - $3,500 - Rooms to Go $2,500. - Cap 1 Quicksilver $6,000. - Cap 1 Platnium $3,000. - Barclay NFL - $5,950. - Chase Freedom Unlimited $1,500.

Had Cap1 platnium  5yrs - Cap1 quicksilver 3yrs - Barclay NFL 3yrs - Rooms to Go 5mo. -  Walmart Store  5mo. - Chase Card  4mo.

My balance currently is about $9,000. or so, adding all cards up.  I did make a payments mid January for $3,200.00 distributed between the cards.   I tried to focus on card balances/utilization making payments.  The only card with a high utilization is Rooms to Go - furniture purchase with 0% interest 2 years.

Just waiting for my credit scores to update again for this Month before re-apping another card. 

I apped for a USAA card back in July 2016 and was denied.  In Jan, this month, I have received pre-approval letters for Amex green card-annual fee, I try to avoid fees, USAA Preferred cash rewards visa signature, and Discover It.

Was thinking of getting the Marvel Card with Iron Man, looks awesome or trying for USAA or Discover.  Im pretty sure I would get the Marvel card, but the other two don't know.  Not sure I want to waste a hard pull for the other cards.

Or any other card recommended to try for?

[Gmood1]

If not available now, the USAA Limitless will most likely be available some time this year in your area. I highly recommend this card as a general spend CC.

Nice choice on the Marvel. I use my Iron Man frequently!😀

Utilization is still a bit too high IMO. Your chances of approval will get much better once below that 30% threshold.

As happypill says Citi is forgiving. I burned them for almost $100k 8 or 9 years ago. They've treated me well and in return my only CC with them sees $35k to $40k a year in transactions. 

[Anonymous]

I can speak from experience with Citi. I burned them for $14k back in 2009.  It went to collections and eventually a debt collector (LVNV) filed a jugement against me.  I paid it off in 2015 but, since it was no longer with Citi at the time, they don't know that I paid it.

Anyway, they recently approved me for the Citi Costo card for a $5,500 limit.  I have tried to app for the DC and was denied but only due to too may inquiries, nothing to do with past history.  That jugement still shows on my reports and does not show as paid, even though it is.  I also still have a few other baddies showing also and Citi still approved me.  I was shocked.

Discover seems to be  forgiving too so you might be ok there.  If you have to, start with a secured card, use it a lot and pay in full.  Mine unsecured after 7 months and I also got an $800 CLI.  Not sure about B of A. I never had any accts with them but the sure don't like me now.  I can't get approved for anything with them, not even co-branded cards.  Current scores are in the 670 - 780 range but I have a lot of inquiries and new accounts.

My advice would be to take new applications slowly.  Limit it to maybe 1-2 applications every 3-6 months.  All of my recent declines have been due to too many inquiries.  Believe me, I know how exciting it is to be able to apply again,but just take it slow.  Nothing improves your scores as much as  paying down balances and the simple passage of time.  That's the best advice I can give.  

[Anonymous]

Citi and Cap1 are most friendly CC comp. even if you burned them with high amount. My wife got citi chargeoff for over $10K 7 1/2 years ago. instant approval for $4K

I burned $8K wth Cap1 now I have 3 cards with them.

On the other hand Chase is nightmare if you have history. At least that's how it is for me.