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Fair credit for credit cards

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christine123
Member

Fair credit for credit cards

Hi All! Been lurking here for months. I appreciate the info you share! Just filed BK 11/29/2021. Extensive healthcare costs not covered by insurance went on those cards. All my accounts were current though when I filed. They didn't fall into collections first.

So the banks I totally burned: 1) Amex (I applied for the most basic and told me I wasn't approved because they closed my accounts. 2) Cap 1- they said they won't approve because of how much I owe them. 3) Citi Double Cash got burned, 4) Chase Sapphire got burned  5) And Discover It and Chrome.  

 

What are the best ways to get back in to a big bank to rebuild ? My scores are fair. I'm getting offered Cap 1 quicksilver one and venture one to apply but Cap 1 will have nothing to do w/me. I feel Like I'm stuck in a hamster wheel w/ rebuilding. Ever since I went BK due to 50k in medical debt, I  have had no issues managing my money and living w/in my means. So are any of these banks going to forgive me?? Am I being impatient? 

Currently, I have:

Upgrade Triple Rewards personal credit line used as Visa Signature  7k limit

Ollo Mastercard: 1k limit

Mercury Mastercard: 3.5k limit 

Credit One Amex (which is credit one dressed up in a fancy suit) 1.7k limit

I can't grow with any of these people.

 Will any big bank forgive me??? I mostly prefer to get back in w/Cap 1

first.  
Should I call them? 


. 670, 656, 668. 


 

Message 1 of 11
10 REPLIES 10
FireMedic1
Community Leader
Mega Contributor

Re: Fair credit for credit cards

Cap1 is the most forgiving. Usually a year out. You have enough for now to prove yourself. Names of creditors dont build credit. Its the revovling account and how you handle it. You can always go the secured way. The ones listed wont let you back in with a BK. If you can pay back in full to AMEX. They may offer you the Optima card to get your foot in the door again. It takes time. Dont rush it. Welcome to the forums!


Message 2 of 11
christine123
Member

Re: Fair credit for credit cards


@FireMedic1 wrote:

Cap1 is the most forgiving. Usually a year out. You have enough for now to prove yourself. Names of creditors dont build credit. Its the revovling account and how you handle it. You can always go the secured way. The ones listed wont let you back in with a BK. If you can pay back in full to AMEX. They may offer you the Optima card to get your foot in the door again. It takes time. Dont rush it. Welcome to the forums!


Thank you so much! Very helpful 

Message 3 of 11
OmarGB9
Community Leader
Super Contributor

Re: Fair credit for credit cards

Amex won't let you back in unless paid in full AND it's been 61 months since BK was filed. So you have a while to go on that one.

Citi, Chase, and Discover will all hold a grudge for a long while. Who knows how long. Cap One as mentioned above will let you back in eventually. Maybe at 6 months, maybe at 1 year.


Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 4 of 11
christine123
Member

Re: Fair credit for credit cards


@OmarGB9 wrote:

Amex won't let you back in unless paid in full AND it's been 61 months since BK was filed. So you have a while to go on that one.

Citi, Chase, and Discover will all hold a grudge for a long while. Who knows how long. Cap One as mentioned above will let you back in eventually. Maybe at 6 months, maybe at 1 year.


Thank you! Yea I figured. I'm doing pretty well now to nurture the cards I have so I'll keep working on that. My scores are in the mid 600s (668, 653, 686) even after BK, so that's interesting. 

Message 5 of 11
Pway
Valued Contributor

Re: Fair credit for credit cards

You have some nice cards, I would sit on those.  However, Capital One is very forgiving.

Thank you for the wealth of knowledge I have learned from these forums. I am logging off as of November 9, 2022. I wish everyone great success.
Message 6 of 11
righthererightnow
Frequent Contributor

Re: Fair credit for credit cards

You have alot of cards, and you're only a year out.
You're doing REALLY well in the card front.

Many people start with secured cards that graduate, that's a way in.
But since you have so many cards.. maybe just wait a year and try Capital One again?
They took me back (they were in my BK). They are forgiving. (Chase is not, Amex not, not sure on the others).






Message 7 of 11
christine123
Member

Re: Fair credit for credit cards


@righthererightnow wrote:

You have alot of cards, and you're only a year out. You're doing REALLY well in the card front.

Many people start with secured cards that graduate, that's a way in.
But since you have so many cards.. maybe just wait a year and try Capital One again?

They took me back (they were in my BK). They are forgiving. (Chase is not, Amex not, not sure on the others).




Yes! Terrific idea. I'm going to chill out. I do have pretty good cards and available credit. And it's only been since 11/21 when I filed. Less than a year. I never use more than 5% utilization and I've gathered a lot of rewards. I'm going to cool my jets and just going to hang out for at least one more year or 18 months. 

Message 8 of 11
christine123
Member

Re: Fair credit for credit cards

Yes thank you thank. I technically have $13k in available credit. I think I'm good. Thank you all. 

Message 9 of 11
christine123
Member

Re: Fair credit for credit cards


@Pway wrote:

You have some nice cards, I would sit on those.  However, Capital One is very forgiving.


Yes! Thank you. I'll hang out here for at least a year, or longer.

Message 10 of 11
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