Does the penalty for BK decay over time or just fall off all at once when it drops off the CR?

[dynamicvb]

---

@gdale6 wrote:

---

@kxkxkxx wrote:

I have gone through a full cycle of a BK....your score slowly grows over time...the 2 yr mark seems to be when most creditors no longer care...that's because you cannot do another BK for 7 years, so they know they will collect....after the 5yr mark, it seemed to go dead...once it fell off, there was no big "boost" since over the years it slowly became less of a negative.

---

Interesting, I had a clean profile at the time my BK7 was dropped and my Fico 8 went from 739 to 805 at the time. Its always possible if you had a very thick profile of new credit post the filing at the time it was removed. I did not have such.

---

This was my experience too. I got a nice bump when mine finally fell off. Some CRA's more than others. I had not applied for anything until a year after my BK 13 discharge so that may have made a difference.

On the Amex, they will let you in with a BK showing, but you won't get any CLI's before it drops from EX. 

[Anonymous]

From what I've read, the dropping off of a BK seems to yield a score gain right on par with the dropping off of any other lone major negative item.  Can anyone confirm this to be true?

[vic6string]

---

On the Amex, they will let you in with a BK showing, but you won't get any CLI's before it drops from EX. 

---

That works fine for me. I only want that card to be my grocery/gas card, which is a few hundred a week, and I pay all my cards off at least a couple of times per month so even if all they give me is 1k it should be more than enough. 

[Duke_Nukem]

---

@dynamicvb wrote:

---

On the Amex, they will let you in with a BK showing, but you won't get any CLI's before it drops from EX. 

---

Is there any DP on that?  My DW is either an exception to this or that is not accurate / no longer true.  She has a BK7 from 2012 (7 years old so still shows on the reports for another 3 years), and she not only got an AMEX BCE in March but was also given a 3x CLI in May (SL of $10k, and CL is now $30k).