DCU CC Approval Odds?

[greeneyesslo]

I'm new to the forum, so a little history. Filed Ch 13 on the bad advice of a lawyer in 2020. Discharged without ever entering BK. Scores were in the low-mid 500s after the BK showed discharged in October 2020. Only derogs I had were an old auto loan and medical bill, both paid off in 2020. Had my scores in the upper 600s until I refi'd my newer auto loan. Previously financed thru Chase Auto @ 9% but refi'd w/ PenFed @ 3.24%. Took a little dip to the mid 600s in the auto loan transition since it was my oldest account. Loan on that is about $11K, car value- $45K, so there's equity. 3 CCs- Cap One Plat $2K CL, Cap One SavorOne with a tiny $300 CL, CreditOne Plat $500 CL (started @ $300 but got $200 CLI after a few months). All CCs are about 8 months old. I pay off all but about $5 every month on each card, so utilization is low. All accounts since 2020 paid on time.

I was looking at threads about DCU Platinum Visa. Interested because I want to increase my limits to improve my score, but concerned because of the recent dip and BK is still within 2 years. Not too sure how soon Cap One will re-eval for a CLI. Should I wait to check out DCU? Anyone have experience with DCU that can give advice?

[SDMarik]

I don't know much about DCU underwriting, but if it was me, I would spend some time in the garden. You might be sensitive to hard pulls right now, especially since you've had at least 3 in the last 8 months, and let's face it, that bk is probably going to sting for a while. If you really need to add CL, maybe try stopping by the pre-qual pages on different issuers sites. There is a thread on here somewhere with a bunch of links to different issuers pre-approval pages.

[greeneyesslo]

Thanks for the feedback. I was hesitant because of the HPs so you affirmed my hesitation. And I anticipated the BK would sting for a bit. Sad part is, I didn't even go through with it. All I did was file!

I don't really use the CreditOne card. The rewards on it aren't worth the hassle to set up, so I don't foresee a CLI in the near future. Was merely interested in a little padding, but I suppose I should go pick some flowers instead. 🌼 

[AverageJoesCredit]

---

@greeneyesslo wrote:

I'm new to the forum, so a little history. Filed Ch 13 on the bad advice of a lawyer in 2020. Discharged without ever entering BK. Scores were in the low-mid 500s after the BK showed discharged in October 2020. Only derogs I had were an old auto loan and medical bill, both paid off in 2020. Had my scores in the upper 600s until I refi'd my newer auto loan. Previously financed thru Chase Auto @ 9% but refi'd w/ PenFed @ 3.24%. Took a little dip to the mid 600s in the auto loan transition since it was my oldest account. Loan on that is about $11K, car value- $45K, so there's equity. 3 CCs- Cap One Plat $2K CL, Cap One SavorOne with a tiny $300 CL, CreditOne Plat $500 CL (started @ $300 but got $200 CLI after a few months). All CCs are about 8 months old. I pay off all but about $5 every month on each card, so utilization is low. All accounts since 2020 paid on time.

I was looking at threads about DCU Platinum Visa. Interested because I want to increase my limits to improve my score, but concerned because of the recent dip and BK is still within 2 years. Not too sure how soon Cap One will re-eval for a CLI. Should I wait to check out DCU? Anyone have experience with DCU that can give advice?

---

There are some who have success with DCU but many encounter many issues.  Only you will know if they will be a good fit. We're it me I would invest my time with Penfed. They have been very lenient with people with  recent BK on their reports. Plus their cards can grow more than DCU in my opinion.  You might even b sole to get 2 cards from them if you play it right

[greeneyesslo]

Thank you for your advice! Since I'm only a few months away from my accounts aging to a year, which will be right about the time the BK hits 2 years, I think I might garden for the summer. Since I already have an account with PenFed, they might just like me enough to throw me a CC. I'll try them