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Latest info on USAA CC's after BK in which they weren't included?

joe8185
Valued Contributor

Latest info on USAA CC's after BK in which they weren't included?

I was on the USAA site today to set up payment for my insurance bill, and decided to take a look at the offers. After a long time where they were absent - I forget exactly when the last time I looked was, but they weren't there then - credit card offers were available again. I'm pretty sure these were just marketing offers, but the fact that they're available again after a long while makes me wonder; how long after Chapter 7 BK is filed/discharged (when USAA isn't a part of the BK) can one apply for a USAA credit card without being automatically declined? I attempted that two years ago, before I was really well-educated at all on credit (it's kind of alarming how little I really knew up until the last 24 months or so!) and of course got turned down due to the BK on my report. It's two years later now and I'm well along on my rebuild, so hypothetically speaking, if I were to apply anytime within the next six months or so, would I be automatically turned down again or would the application at least process?

Ch 7 BK discharged 11/28/14, credit rebuild well advanced. FICO:TU 680 FICO 8 (3/2/19) or 687 FICO 9/EX 694 FICO 8/EQ 685 FICO 8 or 674 FICO 9 (NFCU 3/3/19), VS 3.0 10/17/18: TU 702/EX 699/EQ 698. $92.9k revolving credit as of 1/31/19; $1K NFCU cashRewards Visa, $2K BJ's Perks MC, $5.1k Discover It #1, $6.5k Discover It #2 (new 3/12/18), $3.5k Petal Visa, $6k Paypal 2% CB MC, $6k Amazon Prime Store Card, $6k Walmart Store Card, $7k Apple FCU Platinum Visa, $7k Penfed Power Cash Rewards Visa, $11.8k Overstock Store Card, $15K Care Credit, $16K Cap One QS Rewards Visa Signature, $10k PenFed used car loan, $5k Navient student loan, $12.7k Lending Club loan. Gardening: 3 months, 19 days as of 1/31/19. 24 HP inqs total as of 10/12/18: 10 TU, 9 EQ, 5 EX (about half over 1 year old).
15 REPLIES 15
FinStar
Moderator

Re: Latest info on USAA CC's after BK in which they weren't included?

IIRC, I believe BK has to be off your CRs before they can consider, unless their BK policy has changed.

I recall @pizza1 having some DPs on USAA, but don't know how long ago or recent those were.
Message 2 of 16
joe8185
Valued Contributor

Re: Latest info on USAA CC's after BK in which they weren't included?


@FinStar wrote:
IIRC, I believe BK has to be off your CRs before they can consider, unless their BK policy has changed.

I recall @pizza1 having some DPs on USAA, but don't know how long ago or recent those were.

So about as strict as Chase, then. I figured that. (Yet another reason to go to NFCU!)

Ch 7 BK discharged 11/28/14, credit rebuild well advanced. FICO:TU 680 FICO 8 (3/2/19) or 687 FICO 9/EX 694 FICO 8/EQ 685 FICO 8 or 674 FICO 9 (NFCU 3/3/19), VS 3.0 10/17/18: TU 702/EX 699/EQ 698. $92.9k revolving credit as of 1/31/19; $1K NFCU cashRewards Visa, $2K BJ's Perks MC, $5.1k Discover It #1, $6.5k Discover It #2 (new 3/12/18), $3.5k Petal Visa, $6k Paypal 2% CB MC, $6k Amazon Prime Store Card, $6k Walmart Store Card, $7k Apple FCU Platinum Visa, $7k Penfed Power Cash Rewards Visa, $11.8k Overstock Store Card, $15K Care Credit, $16K Cap One QS Rewards Visa Signature, $10k PenFed used car loan, $5k Navient student loan, $12.7k Lending Club loan. Gardening: 3 months, 19 days as of 1/31/19. 24 HP inqs total as of 10/12/18: 10 TU, 9 EQ, 5 EX (about half over 1 year old).
Message 3 of 16
FinStar
Moderator

Re: Latest info on USAA CC's after BK in which they weren't included?

I think NFCU has more promise on the outcome versus those lenders who may have certain BK restrictions. So, this weekend?

I recall the days when NFCU was out of reach given they finally opened their doors last year to veteran members. They have definitely been a great institution to do business.
Message 4 of 16
joe8185
Valued Contributor

Re: Latest info on USAA CC's after BK in which they weren't included?


@FinStar wrote:
I think NFCU has more promise on the outcome versus those lenders who may have certain BK restrictions. So, this weekend?

I recall the days when NFCU was out of reach given they finally opened their doors last year to veteran members. They have definitely been a great institution to do business.

Yes - I'm taking Friday afternoon off for the Labor Day holiday (but will still be in town, like I've said elsewhere, I'm not that much of a traveler in general) so my plan is to swing by the local NFCU branch in Manassas - I previously thought there were 2, but the other one, the one I had been thinking of originally, closed so I need to go to the newer one that opened a couple of years ago - after I get back from work, join up (I have the application in PDF form and it looks like both savings and checking are default so I'll need to have some money to fund both) and then see about cashRewards (I'll ask about others just to cover the bases). I'll make a copy of my father's service papers to save time.

 

From everything I've seen, Navy these days is one of the most post-BK-rebuilder-friendly lenders around, if not the single most friendly one, and I do feel decently optimistic that my profile will be good enough for a good SL; I really should have joined last year but I was still working my ways through all the ins and outs and never got around to taking the late lamented San Diego "back door" while it was still open, not that I ever really needed it anyway in retrospect. So we'll see!

Ch 7 BK discharged 11/28/14, credit rebuild well advanced. FICO:TU 680 FICO 8 (3/2/19) or 687 FICO 9/EX 694 FICO 8/EQ 685 FICO 8 or 674 FICO 9 (NFCU 3/3/19), VS 3.0 10/17/18: TU 702/EX 699/EQ 698. $92.9k revolving credit as of 1/31/19; $1K NFCU cashRewards Visa, $2K BJ's Perks MC, $5.1k Discover It #1, $6.5k Discover It #2 (new 3/12/18), $3.5k Petal Visa, $6k Paypal 2% CB MC, $6k Amazon Prime Store Card, $6k Walmart Store Card, $7k Apple FCU Platinum Visa, $7k Penfed Power Cash Rewards Visa, $11.8k Overstock Store Card, $15K Care Credit, $16K Cap One QS Rewards Visa Signature, $10k PenFed used car loan, $5k Navient student loan, $12.7k Lending Club loan. Gardening: 3 months, 19 days as of 1/31/19. 24 HP inqs total as of 10/12/18: 10 TU, 9 EQ, 5 EX (about half over 1 year old).
Message 5 of 16
FinStar
Moderator

Re: Latest info on USAA CC's after BK in which they weren't included?

Btw, don't lose out hope on USAA. I have most of their products and they're great as well, IMO. Hopefully @pizza1 can chime in at some point on the BK DPs.

I'm definitely sending positive vibes your way with NFCU. It'll be a seamless process. I took a long break from MF when I was overseas and I recall the San Diego Chapter loophole only to be closed before I clicked "submit" 😁 missed out temporarily, though.

So, I patiently waited until I read that the flood gates had opened up for us veterans and NFCU. I may have tripped and fell a couple times in getting the membership application process done. Best 10 minutes spent in setting everything up (no NFCU branches in my area).
Message 6 of 16
CreditCuriosity
Moderator

Re: Latest info on USAA CC's after BK in which they weren't included?

BK must be 5 years I believe if I recall what pizza stated(to be considered), but she can chime in on this one.

Message 7 of 16
joe8185
Valued Contributor

Re: Latest info on USAA CC's after BK in which they weren't included?


@CreditCuriosity wrote:

BK must be 5 years I believe if I recall what pizza stated(to be considered), but she can chime in on this one.


@If that's correct, then @FinStar gave good advice, don't give up on USAA just yet. Smiley Happy Of course that means I still have another year to go before I can be considered, but we'll see how things go then. Interestingly enough, that makes USAA a lot more like Amex than like Chase in this regard, and I'm also considering Amex down the road. First things first though...

Ch 7 BK discharged 11/28/14, credit rebuild well advanced. FICO:TU 680 FICO 8 (3/2/19) or 687 FICO 9/EX 694 FICO 8/EQ 685 FICO 8 or 674 FICO 9 (NFCU 3/3/19), VS 3.0 10/17/18: TU 702/EX 699/EQ 698. $92.9k revolving credit as of 1/31/19; $1K NFCU cashRewards Visa, $2K BJ's Perks MC, $5.1k Discover It #1, $6.5k Discover It #2 (new 3/12/18), $3.5k Petal Visa, $6k Paypal 2% CB MC, $6k Amazon Prime Store Card, $6k Walmart Store Card, $7k Apple FCU Platinum Visa, $7k Penfed Power Cash Rewards Visa, $11.8k Overstock Store Card, $15K Care Credit, $16K Cap One QS Rewards Visa Signature, $10k PenFed used car loan, $5k Navient student loan, $12.7k Lending Club loan. Gardening: 3 months, 19 days as of 1/31/19. 24 HP inqs total as of 10/12/18: 10 TU, 9 EQ, 5 EX (about half over 1 year old).
Message 8 of 16
pizza1
Community Leader
Super Contributor

Re: Latest info on USAA CC's after BK in which they weren't included?


@FinStar wrote:
IIRC, I believe BK has to be off your CRs before they can consider, unless their BK policy has changed.

I recall @pizza1 having some DPs on USAA, but don't know how long ago or recent those were.

7 years is their policy, and they completely wipe the slate clean from their system. I had "heard" of someone who got in after 5 years, but was skeptical, so 5-7 yrs post DC.  I have been trying for the past 2 years and Im instantly declined every time, and immediately counter offered the secured card, which I decline. I still try though, lol..


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 9 of 16
FinStar
Moderator

Re: Latest info on USAA CC's after BK in which they weren't included?


@pizza1 wrote:

@FinStar wrote:
IIRC, I believe BK has to be off your CRs before they can consider, unless their BK policy has changed.

I recall @pizza1 having some DPs on USAA, but don't know how long ago or recent those were.

7 years is their policy, and they completely wipe the slate clean from their system. I had "heard" of someone who got in after 5 years, but was skeptical, so 5-7 yrs post DC.  I have been trying for the past 2 years and Im instantly declined every time, and immediately counter offered the secured card, which I decline. I still try though, lol..


I knew you'd have the scoop!  Thanks for the DP's @pizza1 Smiley Tongue

Message 10 of 16
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