USB IIB -- chances of getting a new card?

[Anonymous]

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@pizza1 wrote:

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@Anonymous wrote:

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@pizza1 wrote:
USB BK policy is 5 yrs and 1 mo post file date before they will consider you.

If you burned them...its a toss up if they will consider you or not.

My file date was 05/2013, and I was approved for the cash+ on 6/3/18 for SL of $5k, after my app went to review. I also had opened up a Biz checking account before that, and they also approved me for a Biz Edge Visa on 7/26/18.

Everyone is different, and Ive also had a heck of a rebuild with several CC's with large CL's as well that Ive managed perfectly since DC, with some of those cards over 5 yrs old now. That combined with my Biz checking probably had alot to do with my approvals.

Plus, USB was NOT IIB for me.

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Yeah I’m expecting $500 purgatory for a year at least. 

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Im expecting a decline since you IIB them for a good amount, and them maybe offering you a secured card, but I could also be surprised if you got approval. You can always call the BD# on recon if you do get declined, and basically beg for a $500 SL just to get your foot in the door, and show history. At that point, then you probably will be stuck at $500 for at least a year. Let us know how it turned out, and good luck!

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There have been reports of others burning them for more and I had multiple products with them before this all went down, they were my primary bank, so we will see. If I approach them with a 750+ score (which is what I should have by 2021), it may not be so bad. 

[Anonymous]

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@Anonymous wrote:

Long story short, BoA's practices ended up pushing me into filing chapter 7 which unfortunately included my US Bank card and reserve line. This was back in 2010. Do I realistically have any chance of getting back in with them? I believe they got burned about 10K but my memory of the events around that time is fuzzy at best.

I am sure at the very least I would have to wait til my BK drops in 2020 but that Cash+ card looks very attractive and I want to know if I should just give up any hope of getting that card now or if I might possibly be able to get into $500 purgatory for year with them and start being able to grow?

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There is likely never a fun time to go through bankruptcy, but in terms of any manual review I would think bankruptcies in 2009-2010 would look the least bad out of any time in post WW2 U.S.

You have nice limits after recovering from bankruptcy.

An issuer that has been IIB’d will be the toughest hurdle to leap though.

Their automated and manual reviews will be including their own history as well as the CRA’s.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Long story short, BoA's practices ended up pushing me into filing chapter 7 which unfortunately included my US Bank card and reserve line. This was back in 2010. Do I realistically have any chance of getting back in with them? I believe they got burned about 10K but my memory of the events around that time is fuzzy at best.

I am sure at the very least I would have to wait til my BK drops in 2020 but that Cash+ card looks very attractive and I want to know if I should just give up any hope of getting that card now or if I might possibly be able to get into $500 purgatory for year with them and start being able to grow?

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There is likely never a fun time to go through bankruptcy, but in terms of any manual review I would think bankruptcies in 2009-2010 would look the least bad out of any time in post WW2 U.S.

You have nice limits after recovering from bankruptcy.

An issuer that has been IIB’d will be the toughest hurdle to leap though.

Their automated and manual reviews will be including their own history as well as the CRA’s.

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I didn’t really think about the fact that lots of people had to do what I did around that time since my personal struggle was not actually related to everyone else’s. 

I have high hopes that US Bank will be able to forgive and I’m not really looking to do it until all baddies are off my report anyway which will either be 9/2020 or 11/2021 (depends on if my dispute over inaccurate student loan delinquency dates is fixed - if it gets fixed, I’ll lose those accounts in March and the rest of my baddies by September of this year and just have the BK blemish remaining) so if I am ever going to have a chance, a clean file that has 6-7 years of a single card with no payment blemishes (my Cap1 was opened 5/2014) is as good as its going to get until my AAoA hits that magic 7.8 year number when I finally have all the cards I want and can let it age. 

[sjt]

I think its a good decision to wait until the baddies fall off and your accounts age a little more. US Bank also looks at debt to income ration/utilization so if your utilization is high this will also give you some time to bring it down.

[Anonymous]

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@sjt wrote:

I think its a good decision to wait until the baddies fall off and your accounts age a little more. US Bank also looks at debt to income ration/utilization so if your utilization is high this will also give you some time to bring it down.

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I keep my utilization very low. I am at 5.5% right now after a BT just got done but I normally am between 1-2% since I PIF. I learned my lessons from my Chapter 7 and try not to carry any debt.