NCFU/PenFed AutoDenial After BKR?

Anonymous · ‎04-23-2017

Is a Ch13 BKR an automatic denial for either of these? Ch13 filed 5 years ago, just discharged earlier this month. Equifax 601, Experian 678, Transunion 578. Recently opened car loan for $38k as well as Cap One QS1 Card with $3k limit. Do I have a chance of getting an unsecured card with either one or should I wait to apply?

Anonymous · ‎04-23-2017

@Anonymous wrote:
Is a Ch13 BKR an automatic denial for either of these? Ch13 filed 5 years ago, just discharged earlier this month. Equifax 601, Experian 678, Transunion 578. Recently opened car loan for $38k as well as Cap One QS1 Card with $3k limit. Do I have a chance of getting an unsecured card with either one or should I wait to apply?

Wait to apply.

Both lenders recently went to a minimum 1yr post-DC policy.

(Edited for clarity that I was in fact answering the OP's question)

CreditCuriosity · ‎04-23-2017

@Anonymous wrote:
@Anonymous wrote:
Is a Ch13 BKR an automatic denial for either of these? Ch13 filed 5 years ago, just discharged earlier this month. Equifax 601, Experian 678, Transunion 578. Recently opened car loan for $38k as well as Cap One QS1 Card with $3k limit. Do I have a chance of getting an unsecured card with either one or should I wait to apply?
Wait.

Both lenders recently went to a minimum 1yr post-DC policy.

I don't see where OP stated this..Was a question, not a statement.

With regards to OP question, I will defer that to someone else although part of both and have cards with them, don't have the BK or know their policies w/regards to them.. Pretty sure NFCU is very forgiving if you haven't burnt them.. PenFed will probably be quite a bit tougher although doable with a BK just not sure on the time period and scores required for them with a BK. It was a 13 as well vs. a 7 so it apperas you paid all your creditors back which should look good as well?

08 Scores - TU: 839 - EXP:839 - EQ:838

Anonymous · ‎04-23-2017

@CreditCuriousity wrote:
@Anonymous wrote:
@Anonymous wrote:
Is a Ch13 BKR an automatic denial for either of these? Ch13 filed 5 years ago, just discharged earlier this month. Equifax 601, Experian 678, Transunion 578. Recently opened car loan for $38k as well as Cap One QS1 Card with $3k limit. Do I have a chance of getting an unsecured card with either one or should I wait to apply?
Wait.

Both lenders recently went to a minimum 1yr post-DC policy.
I don't see where OP stated this..Was a question, not a statement.

With regards to OP question, I will defer that to someone else although part of both and have cards with them, don't have the BK or know their policies w/regards to them.. Pretty sure NFCU is very forgiving if you haven't burnt them.. PenFed will probably be quite a bit tougher although doable with a BK just not sure on the time period and scores required for them with a BK. It was a 13 as well vs. a 7 so it apperas you paid all your creditors back which should look good as well?

Question answered - OP should wait to apply, because both lenders recently started auto-declining at less than 1 year post-discharge.

Anonymous · ‎04-23-2017

Op, I have both (15k and 10k) and a BK13 dismissed in 2012...not quite 5 years. I was approved for Penfed 7-2016 and NFCU 10-2016.

Ive seen a lot of success for peeps with BK.

kobe2012 · ‎04-23-2017

Wait.. is that NFCU's new policy?? When did that start?

Starting Score: MYFICO 12/30/15 -TU: 481, EQ:561, EX:532 - BK7 DISCHARGED 12/2015 - Current: 09/01/2016 TU:642 EQ: 651 EX: 646
NFCU cashRewards:$6200 QS:$1500 Merrick:$1200 Cabelas:$1000 SonyVisa: $500 JCrew:$850 Overstock:$850 Express: $1050 PaypalCredit:$2150 NAVCHECK:$10K

Anonymous · ‎04-23-2017

@kobe2012 wrote:
Wait.. is that NFCU's new policy?? When did that start?

we first started notifcing it in the main NFCU thread about 4-6 months ago...I apparently just squeaked in before they closed the gates

Loquat · ‎04-24-2017

My co-worker just got in with NFCU with a $1k Platinum card and a $500 CLOC and he still has 1 year left of his BK13. Even I was shocked that he was approved while in BK but they approved him...albeit not much but an approval nonetheless.

enjoimorenow · ‎04-24-2017

@Anonymous wrote:
@kobe2012 wrote:
Wait.. is that NFCU's new policy?? When did that start?
we first started notifcing it in the main NFCU thread about 4-6 months ago...I apparently just squeaked in before they closed the gates

Does the 12 months also apply to auto loans?

BK 7 Scores (08/2016): EQ-528. TU-486. EX-530.
Current Scores (04/2022): EQ-717. TU-735. EX-736.

Anonymous · ‎04-24-2017

@enjoimorenow wrote:
@Anonymous wrote:
@kobe2012 wrote:
Wait.. is that NFCU's new policy?? When did that start?
we first started notifcing it in the main NFCU thread about 4-6 months ago...I apparently just squeaked in before they closed the gates
Does the 12 months also apply to auto loans?

I don't know, but best to assume it does and play it safe. I didn't know about this new 12-month policy until now, but I waited until the 2-year mark had passed since my discharge from chapter 7 BK (and also after my prequalification from Cap One for an auto loan made me more optimistic as to my chances with other lenders) before I tried with Penfed. I'm anticipating by the time I'm ready to attempt to get a Visa from either Penfed or NFCU, I'll have hit the 32-month mark since my BK discharge so I'll be safe in that regard.