I was wondering if anyone would be able to shed some light on my situation. I have a ch.7 from a little over a year ago, however I have been cleaning up my credit file. About a month ago, before disputing a number of accounts on my CR, I had a fico score of 602. Using the advice on this board, I applied for a Associates national bank (delaware) visa and a FCNB Spiegel's card. Both of them denied me with the only reason listed as "Bankruptcy". This doesn't make sense, since I already have 2 FCNB cards in good standing for a little over a year so I thought that I would especially be able to qualify for the FCNB Spiegel card. I don't know what my question really is but just wondering if anyone else had some of the same experience? Thanks.
Your Chapter 7, will affect your ability to get a prime credit card from 7-10 years.. You will be able to get sub prime cards with security deposits, high interest rates, ect from Orchard Bank, ect.. I work for a Major Credit Card Company and I look for at least 5-7 years of reestablished credit with a Major Credit Card , such as Chase, Citi, MBNA, ect.. Fico means nothing in regards to BKO.. I have denied applicants with FICO scores over 800 that have filed BKO . YOu can get high FICO's 2or 3 years post BKO.. with Small charge cards, ect.. It will take time.. good luck
Thanx for the reply, but I thought that FCNB was considered a subprime card. Especially since I have a visa and MC from them already. Hmmmmm....
Maybe MBNA will deny, but not all prime cards will deny someone with a bankruptcy. If you need proof, just ask the many board members with bk's that have gotten prime cards within 2 years of bk.
What Company and at what interest rate? I am not doubting what you are saying. but I have never seen a 2 year old Chapter 7 application.. with a Credit Card opened with Chase, Or Citi.. Or MBNA.. Maybe Discover but at a very small line..
