Re: BK friendly accounts I opened a checking account in May 2003 with USBank. They opened a $1000 line of credit along with the account, even though I did not request the credit line. I filed Chapter 7 in July, 2003, with a balance of zero for this credit line as of my filing date. Days after filing, I dipped into the credit line, for spending cash. USBank has been reviewing my credit every few months, and never canceled the LOC. I have kept a small balance ($250) for the LOC. I have made all payments on time and never exceeded the limit. So, while they are listed as BK unfriendly, in my experience, they are the only lender that did not cancel me. BKinNE
NetBank I don't know about a credit card, as I haven't applied yet, but NetBank did open a checking account for me late last year. I forget which report they pulled, but it was a soft inquiry, if they did at all.
Re: Updated List Just thought I would add my .02 worth of info. I am now 7 years into my C7 BK. A new Lowes recently opened in my area. I received a credit offer in the mail advertising the new store and offering me a credit card with a limit "up to" 2,000.00. I wasn't going to bother applying thinking for sure I would not get it, or if I did get it, it would only me for a fraction of that limit. My scores are in the low to mid 600's and I do have ALOT of credit card debt. My garage door broke so I figured I would give it a shot. I took it to the customer service desk and was amazed when I was not only approved but approved for the whole $2,000.00!!!! So maybe they can be bk friendly but they have to come to you......... Oh, and I also received a Sams Club credit card some time ago. I was paying at the register and it just came up saying I was instantly approved for a credit card (I didn't apply at all). I went ahead and said yes to it and received an 800.00 limit.
Lowes Cards Was the Lowes Card a Capital One Card? I received a mail solictation for a Lowes Card and it was through Cap One. Cap One is a subprime lender, and usually they pull more than one CR.
Target VISA Well, I applied last month for a Target VISA and was turned down. My Equifax PrivacyGuard score at the time was 664. The report shows a chapter 13 from 1998 and no other bad marks. I should probably have waited for some authorized user accounts to show up. Customer service would not tell me if it was the bankruptcy alone, or that combined with the score. I would be inclined to try again with my now higher score, but apparently they don't do balance transfers, so no real point for me.
Providian OTOH, I had great luck with Providian. Got one of those 3.99% for life of BT offers in the mail. I figured I may as well take a chance, and they approved me. For $3k even! I was a little bit excited. (This is now my highest limit card.) They pulled Experian, which is my worst report: two chapter 13 bk's and two charge-offs from '98, one charge-off from early '99. The PrivacyGuard score was 662.
USBank Would you include a home mortgage in that list? I have had a USBank mortgage since January 2003. With a chapter 13 from mid 1998, I was approved for a 6% FHA loan with 3% down. Scores were all mid 600's.
Re: USBank I have a theory that secured loans are different. I have a car loan w/Chase, obtained less than 2 years after filing Ch7 (no accounts w/them). After 8 months, I applied for a Chase credit card w/decent (close or above 700) scores and the reason given was the BK. I also had NO problem obtaining a 95% mortgage once two years from my discharge had occurred.
Re: USBank I have a theory that secured loans are different. I have a car loan w/Chase, obtained less than 2 years after filing Ch7 (no accounts w/them). After 8 months, I applied for a Chase credit card w/decent (close or above 700) scores and the reason given was the BK. I also had NO problem obtaining a 95% mortgage once two years from my discharge had occurred.
Re: USBank I was just refuting his claim. I personally could care less what USBank does regarding home loans and bankruptcy, I have mine already )
Is this weird? New to this and just wondering...1 year to the date of my chapter 7 discharge received pre approval for both a capital one platinum Visa And MasterCard figured I'd respond with no hope at all of approval as I had filed them in BK. Well, I got approved for both cards one with a $2000.00 limit and One with $5000.00 Limit. No annual fees and 0 intrest for six months. 12.9% after. My scores are in mid 500's and have not begun credit cleansing lots of accounts still showing default. I do have three or four good tradelines however. Is this common????
Is this weird? Suzan, That sounds very weird to me. Cap 1 wouldn't approve me with scores in the 600's and no derogs. You lucked out.
Is this weird? Common? Nope. Congrats on the 2 or 5k limit on Cap1 - very unusual. I also had a cap1 card w/a low balance ($140) that was in my BK. A year later, I got an offer for an unsecured card from them. It was a "platinum" card w/a $500 limit. 18 months later it's up to $1900 - still not as high as high as what you got initially. Keep using 'em moderately, small balances and you'll get your scores up in no time.
Is this weird? I too got a Capital One offer, which I accepted. I am only 5 months post Chap. 7 discharge, and Cap 1 gave me $2000 limit Platinum, 0% first 6 months, 12.9% thereafter, 25 day grace period. The only hitch is a $59 annual fee. The card even has the car rental Collision Waiver, for when I travel! It seems Cap 1 is starting to move away from the secured cards, and trying to build good relationships with post Chap. 7 filers. BKinNE
Is this weird? Hi Nana, Just an F.Y.I. My applications for JC Penney and Mobil-Exxon credit cards were approved at 4 yrs, 7 mths post- BK7. (this was in 1/03) I also got BofA Alaska Airlines Plat. card at 5 yrs, 3 mths. (initially declined but reconsidered by Robin Brickland (?), Retention (I guess)... (this was in 9/03) A few months later, I upgraded to Signature Visa (just by requesting it)... Thanks for an awesome thread! Mr.X
