I have had the guest card since 1994- I have a BK 7 3 yrs old, and since this past year I havent gotten any increases, every time I try thru the automated line, I get a letter in the mail saying I was declined due to BK on my credit report. The BK has never stopped me before when I called for the increase. Have they really cracked down? We charge a lot there, and pay it off in full almost every month, we have never been late. We might revolve one or two months, then pay in full again. But we use it very heavily. I dont understand why I just now started getting declined due to BK. Anyone else getting declined?? Jamee
Sounds like a recent phenom. Did your scores change recently? I'd call and plead your case. Since you didn't include them in the BK, and you've demonstrated creditworthiness since ... Good luck, mj
Jamee, I am going through the same thing. The rep told me that they no longer just look at your payment history with them. They now go by your credit report. I keep getting denials for an increase siting the bankruptcy also. I have sent them a letter to ask a manager to look over my account and consider me for an increase. I only have 400 cl. I also had my account prior to bankruptcy and have never had a late in 5 years and my account is paid in full. If my letter gets a response, I will let you know.
Same here, I started calling the automated line for my Target and Mervyns every 4 months once I learned of it. I received a small increase each time (100.00 each card). Then last month, I tried it again and received the denial letter in the mail also citing my b/k.
I guess I am a little confused. I thought if you claimed bankruptcpy you were not eligible for credit cards and things... I thought bankruptcy was the easy way out? Like you just take all your bills and they dont make you pay them... whereas I owe 18k in cc's and 20k in std loans and I am paying them off. I guess I am confused as to when you take a bk how long until you are clear?
Easy way out? I don't think that is the quite the way to word that question. A bk 7 will stay on your report for 10 years, a 13 for 7 years. If someone wants to grant credit after you file bk, then you are "eligible". It is up to the individual creditor whether they want to extend credit or not. It is very possible to rebuild credit after a bk. This board is proof. But, I don't think it is the "easy way out".
BK is no "easy way out" There are many serious things that happen to good people that make them unable to pay their bills for a period of time, and that does not make them a bad person. Almost every BK lawyer you go to tells you to rebuild credit right away. We maintained 3 lines of credit and a car loan thru the BK, so we have rebuilt. I am 3 yrs after bk right now, and just bought a house at 6.5 interest. I am on the right track, credit is not an issue anymore. No, I do not maintain high credit lines, and am not getting "prime" credit cards at this time, but as the BK ages, my scores will get higher, and I wont be considered a credit risk anymore. My BK was due to hospitalization and loss of income for 18 months and we could not make it on 1 income, we needed mine as well. Rent and feeding my family came 1st, credit card bills came next, that doesnt make me a bad person.
Thanks for the clarification. I had a friend in college who amassed as much credit as I did and he went and claimed BK to get it off. Thanks and please do not think I am being mean. Just trying to learn.
Just an update regarding the automated denials I have been receiving due to past bk. I called and talked to a manager and was able to get 200.00 increase without them pulling a hard inquiry. I definitely had to argue my case to get the increase. I stated my excellent payment history for 5 years, the frequent use of their card and never going over the limit. The manager I talked to said I would be eligible for another increase after 6 months.
