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Discussion in 'Credit Talk' started by rick, Apr 20, 2001.
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I have never heard of a credit card black list . What is it , how do you get on it, who has them, Please educate me? Thanks
yes, Discover blacklists
A credit-card blacklist is an internal system that a creditor uses to deny a card or loan to anyone who hasn't paid them back -- including those whose debt was discharged in bankruptcy. The blacklist is internal, so it doesn't matter if the debt no longer shows on your credit reports.
Technically, I think a creditor breaks the law if it says, "You pay us back we'll give you a card again." But they can word it differently. Amex and Citibank are the most notorious for blacklists because they are supposed to have the longest memories.
Discover told me they would consider an application six months after I paid the amount that was discharged. Because Discover was the best creditor to deal with during my financial problems -- always treating me with respect -- I plan to do this after I've rebuild my credit a little more.
Nordstrom is the only creditor I've ever heard of that doesn't have a blacklist. A rep told me, "We can't do that. That debt was legally discharged." Also, Nordstrom will issue store cards to people who have done at least two years of strong rebuilding after a BK, though I'm not there yet.
Well that's interesting about Nordstrom! I remember speaking to a woman from Nordstrom Credit in Colorado who said that if I repaid the $300 or so that was discharged in a prior BK, they would let me have a card with a $500 limit to start. But that was about six years ago and the BK was 5 years old at the time. I still shop there, a lot (too much so maybe I'll consider this for my 2nd retail account in the future.
How about Choice Visa?
I had a Citibank card, which was later converted to a Choice card at my request. This was charged off--does this apply to Citibank's "black list"? Thanks!
I talked extensively with a Discover credit analyst yesterday on the phone. She told me Discover purges all information after five years. So if you were delinquent, or had a bankruptcy, you're clear after five years from the date of last activity. She said approval decisions are made on credit history.
She also told me Discover has insurance and gets paid for all chargeoffs and bk accounts.
They don't have a long memory.
Frank, can you share with me the name and telephone number of the credit analyst with whom you spoke at Discover? I am interested in finding out with specificity what their credit approval criteria are in order to determine if I might be able to get their card. Appreciate the help.
Sounds like a Discover Employee.... (yikes).
Discover and BK?
Frank, did she say what sort of FICO scores are required? Also, even if Discover's internal info purges after five years, what about the BK that remains on your credit report. Will that cause you to be rejected?
Which CRedit bureau?
Which CB does Discover pull? NE
Re: Discover Blacklist
That can't be (5 yrs and they forget). The last time I applied was last year, and was declined due to including them in bankruptcy. They didn't even pull a report!
Re: Discover Blacklist-To Anon
Anon - no, I am not a Discover employee, just a consumer who'd rather not waste an inquiry applying for a card that he may not possibly qualify for. That was a very rude presumption on your part.
I called 1 800 Discover and asked to be transferred to new accounts. I then asked to speak to a manager. I did not write down her name.
She said that a 650 fico was a good score for credit approval. I did not ask what credit bureau they pulled. I asked about bankruptcy and was told that it did not matter to them if you burned them, because they had their money with insurance they carry on accounts.
She said after 5 years of perfect history she thought that anyone could get a platinum - but the chances improve if the Discover negative on the credit report had dropped off.
Re: Discover Answers
To find out which report they will pull, check out:
NY - Equifax
In NY, Discover pulls equifax.