- Posts: 1
- Joined: Sat Mar 17, 2012 1:32 pm
- Location: Maryland
Before I went through bankruptcy, I had Amex Platinum and had some personal financial problems (married with a child and 1 income holder) that prevented me from paying on time. I ended up paying in full with balance of zero but because of my payment history, Amex cancelled my Platinum card and closed my account in Jan 2011. I've finalized my bankruptcy in Oct 2011.
I was told to wait for 3 months before rebuilding my credit score so in Jan 2012, I went ahead and applied for secured card with $2,500 deposited in PNC bank as a requirement. In the meantime, I was getting Capitol One offers in the mail every week. After the 10th offer, I went ahead and took the plunge/risk and went ahead and used the pre-offer code for quick online approval for 3k. I received "approved" within 5 minutes for 3k and was I so surprised, shocked and elated.
I now have a non-secure MC and secured Visa. So for those who say that you need to wait for your BR to be removed off your FICO in order to get a credit card is FALSE. I did this within 2 months AFTER my BR finalized and approved. I want my Platinum status back so I will pursue "Prepaid Amex" at max credit and in addition, I will open a Savings account with Amex to rebuild my history with them. For those that are unsure, please pursue, google and research and do your due diligence. Don't sit back and wait for the BR to be removed from your history. You need to be PROACTIVE!
These days, people from all walks of life file bankruptcy (Doctors, Lawyers, Divorcees, Foreclosures). From what I was told, you can turn your credit around and able to get credit cards, car loans and even get a mortgage within 3 years and not 7-9 years like back in the day. I take BR very seriously and it was one of the hardest decision that I was forced to make. Good luck to those are in similar situations as mine.