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2yrs post BK-Interested in US Bank, CAP1 card offer using pre qual

Sunnee19
Established Member

2yrs post BK-Interested in US Bank, CAP1 card offer using pre qual

Hi all, first post so please be kind Smiley Happy

 

I am looking for any input/advice on my situation and have a lot of questions. I was going to post in BK, but we are currently rebuilding as husband and I are two yrs post BK as of last month. Merrick FICO is showing at 663, but it has not yet updated for May. Cap1 shows Vantage 3 at 719 (I know this is inflated and not accurate) 

 

CC are all in my name only, Auto Loan I am primary husband is secondary. 

 

Auto Loan and four cc with opening dates and CL:

 

Cap1-10/2019-pre app offer-$750

 

Comenity Children's Place-SCT pop up offer-10/2019-starting limit $500, auto CLI to $900 last month

 

Merrick Visa- pre app offer-1-2020, DYL is now at $1700 after initial 7 month DYL increase

 

Cap1-Union Plus- pre app offer-4-2020-$5K

 

Auto Loan also through Cap1, just below $25k, open date almost a year. This was also through a Cap1 pre approval. 

Cap1 was IIB for less than $1k.

 

Cards all have a zero balance except the $5K one has a pretty high balance that I am paying down, double the payment every month. I am going to pay some larger payments in the next few months. Even though it has been a year since opening my last card, I am trying not to app for any new cards because we would like to buy a house at some point in the next year, given the market is more buyer friendly.  I also don't like when my AA gets thrown by a new account, and I have about 6-7 inquiries (depending on CRA) and do not want anymore of those either. Three say they will fall off this, November 2021.  All that said, I am looking to expand my credit profile, and (here it comes lol) I got about 3-4 cards that came up when I submitted the pre qual form through Cap1, out of curiosity. The QS Rewards was at the top of the list with 0% APR for 15 months. Second was the other QS, followed by the Platinum MC. I called Cap1 to see about upgrading my Platinum MC and they said yes you can but account number, APR and CL stay the same. This was not really what I had in mind....I considered calling the back door number to talk to a credit analyst and ask if they can upgrade to QS and raise my credit limit.

 

I know this is probably a long shot, but I am eyeballing the US Bank Platinum for a long term goal, because it seems the most realistic of the non secured cards when considering my needs in a card. I would also like the Sephora Visa at some point, but that is way down the pipeline. I shop there a lot during their seasonal sales, and the rewards would be beneficial; I would not carry a balance due to the high APR, because it would negate the rewards. If I go to the app after signing into Sephora, it only asks for last 4 of SS, however I do know this does not guarantee a SP and no HP. I keep getting the Ulta pre app pop up and it has recently been an offer for the MC. I also get the Carter's pre app but it asks for full SS. I am hesitant to app for Comenity in general due to reading they are wishy washy with their decisions for pre apps and have been known to close cards soon after on new accounts. A Comenity store card was also IIB. 

 

 

TIA for any advice! 

 

Sunnee19

 

 

 

 

 

Message 1 of 9
8 REPLIES 8
AZnotorious
New Contributor

Re: 2yrs post BK-Interested in US Bank, CAP1 card offer using pre qual

From my experience US Bank is not bankruptcy friendly. I didn't burn them in my BK, filed 3/2018 and have a bank relationship with them but have yet to get approved for a CC from them.

Message 2 of 9
Sunnee19
Established Member

Re: 2yrs post BK-Interested in US Bank, CAP1 card offer using pre qual

Thanks for the reply! That seems to be the general consensus re US Bank. I have also heard 5yrs+ BK is a good time frame. I also have a banking relationship with them, and am wondering if the secured card is an easier/realistic start to at least build a credit relationship with them. 

Do you have any advice on which cards are BK friendly, aside from what I already have? 

Message 3 of 9
LaHossBoss
Senior Contributor

Re: 2yrs post BK-Interested in US Bank, CAP1 card offer using pre qual

@Sunnee19 Sephora is a HP even when asking for last 4 of SSN. I thought it would be a SP, but it was a HP. Unless you specifically get a pop up for Sephora, it is a HP, and a cold-app seems to have tougher underwriting than the SCT (pop-up).




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Message 4 of 9
Sunnee19
Established Member

Re: 2yrs post BK-Interested in US Bank, CAP1 card offer using pre qual

Thank you. Does this seem to be Comenity specific? I'm trying to postpone any cc apps until after we get a house, but 1-we aren't sure how long that could be and 2-as much as I appreciate how forgiving Cap1 is, I'd like to diversify my profile. 

Message 5 of 9
AZnotorious
New Contributor

Re: 2yrs post BK-Interested in US Bank, CAP1 card offer using pre qual

Penfed as a credit union may be worth considering. You can join them by opening a $5 savings account. I also have HSBC Cash Rewards and their Gold card. 

Message 6 of 9
Sunnee19
Established Member

Re: 2yrs post BK-Interested in US Bank, CAP1 card offer using pre qual

@AZnotoriousThank you for the reply. I thought HSBC was hard to get in with, are they offer only? 

 

I have a less known CU account but their card offers aren't anything to get excited about atm.

Message 7 of 9
jmcmillan
Regular Contributor

Re: 2yrs post BK-Interested in US Bank, CAP1 card offer using pre qual


@Sunnee19 wrote:

Thanks for the reply! That seems to be the general consensus re US Bank. I have also heard 5yrs+ BK is a good time frame. I also have a banking relationship with them, and am wondering if the secured card is an easier/realistic start to at least build a credit relationship with them. 


I applied for the US Bank secured card a week after my discharge in December. They denied me because my student loans (which weren't discharged) were a mess. When I was speaking with underwriting, I asked if the Bankruptcy was a factor, and I was told no, it was only the student loans.

 

I've been getting those cleaned up, and I'm planning to apply again later in the year.

 

I don't know if you're interested in secured cards, but SDFCU is BK friendly on their secured card. It has the opportunity to graduate after 12 months. I have two of them, since there's no credit check, and the annual fee is $0.

Message 8 of 9
Horseshoez
Established Contributor

Re: 2yrs post BK-Interested in US Bank, CAP1 card offer using pre qual


@Sunnee19 wrote:

@AZnotoriousThank you for the reply. I thought HSBC was hard to get in with, are they offer only? 

 

I have a less known CU account but their card offers aren't anything to get excited about atm.


I don't know where you're located, but here on the eastern side of the country, TDBank seems to be pretty BK friendly.  Last year after my discharge I was able to get a secured TDCash card with a $5,000 credit limit.  Unlike a lot of other banks offering secured cards, TD graduated mine to unsecured exactly 6-months (to the day) after my first charge.  I would have been seriously annoyed if I'd had to wait the 12, 18, or even 24 months I've read some folks here need to wait for graduation.

I categorically refuse to do AZEO!

Message 9 of 9
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