I previously posted that a week ago I applied for the Target visa card. I was immediately granted a card for a $10K credit limit at 15.9% apr. I called Target and complained about the apr. I was informed that when I activate the card I will be given 12.9% apr. I agreed but was still unhappy. Why???... Experian was the CRA pulled when I received the Guest card in April. This report is clean. Today, I contacted Equifax and found out that Target pulled them instead of Experian. I am lucky I even got credit because my Chap 7 BK and 2 dicharged BK credit card accounts from 1998 are showing. Along with 30 positive open and closed tradelines. I activated my Target card today and got the 12.9% apr. as promised. I have a lot of credit these days at favorable apr.'s but Experian was generally pulled to obtain it. The question in my mind is whether Target has liberal lending standards or past a certain point does a BK just not hurt any more?? Jim BTW - I am wishing you Target applicants the best of luck. But don't use my experience as your sole decision point on whether to apply. I am surprised at getting the card. If I had known in advance that EQ would be pulled; I would have never applied.
I was denied. I've had a guest card for 7 months. Apparently, a BK isn't as bad as 2 5 yr old collection accounts. They denied me on that, length of credit history(3 years) and too many inquiries. They pulled Equifax on me, pulled TU for the guest card.
Sorry to hear that you were denied. In my experirnce, some lenders are BK friendly immediately after discharge. Others require 2+ years of restored credit. I got my Target guest card 26 months after discharge. But for every Target, Nordstrom or Cap One that are BK friendly, there are many other lenders that just will not extend credit under any circumstances when evidence of a BK is located on a credit report. I have never had a credit problems outside my BK. From what I have read here on the board during the last year, chargeoffs are a real impediment to restoring credit. Best regards, Jim
I have come to the same conclusion. I have managed to get rid of two but these last are with the same CA and have been stubborn. I have managed to rebuild my credit to the point that only the aging of my current accounts and the dropping off of these two CA's will improve. But, I'm not doing to bad. The rest will come, eventually.
