Applying for a credit card after a charge off?

For just about anything you want to get off your chest about credit cards.
5 posts
Posts: 2
Joined: Wed Feb 06, 2013 5:10 pm
Location: California

Applying for a credit card after a charge off?

Postby james01 » Wed Feb 06, 2013 5:15 pm

Hi all, I applied for a basic Freedom credit card from my new bank Chase. I was denied and my question today is how to get approved now or even in another couple of months.

Background: I previously had a MasterCard with my old bank for approx. $4,500. I failed to pay monthly and the incident ended up as a "Charge Off" on my credit report. I understand this is bad as it stays on your report for 7 years. However, in my defense I paid the card off IN FULL in 2011. I later found out that the bank incorrectly sold my debt to a collection agency (Asset Acceptance). Due to error on their part, I am wondering if the Charge Off is a mistake then?

Moving forward, after having this charge off how can I fix my credit now in order to get that new card from Chase bank? For example, my credit score has risen exponentially to 709 since paying off that old card. Should I put more utilities in my name to improve my record? What else can I do?

Thank you!

Centurion Member
Centurion Member
Posts: 797
Joined: Tue Oct 02, 2012 3:25 pm
Location: Texas

Postby Robrus1 » Fri Feb 08, 2013 7:37 am

Putting utilities in your name won't help. You may have to get a secured card for a while and wait a year or so to let some on time payments report.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

Centurion Member
Centurion Member
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Fri Feb 08, 2013 8:16 am

Utilities in your name will help over time IF they report to the CRAs. Some do some don't.

You can contact them and ask them to delete the charge off as a goodwill gesture. The worst they can say is no.

Centurion Member
Centurion Member
Posts: 257
Joined: Sun Oct 14, 2012 10:22 pm
Location: California

Postby Bksuper » Sun Feb 10, 2013 6:03 am

If they do say no, you can at least provide a statement to the credit bureaus for them to put on your report as rebuttal to specific derogatory marks (ie chargeoff); yours would be that you paid it off. Maybe that will help in manual review cases.
Sole Ownership Cards:
1st Financial Bank Platinum Student Visa, $500 CL, Open Since 3/2012
Citi Forward Student Visa, $6k CL, Open Since 10/2012
Costco TrueEarnings Amex, $6k CL, Backdates to 1/2012
SallieMae Rewards Barclay Mastercard, $2.5k CL, Open Since 4/2013
Jointly Owned Cards (co-owner with mom, not AU, used and paid only by me):
Chase Amazon Rewards Visa Signature, $2k CL, Open Since 8/2012
US Bank Cash+ Visa Signature, $13.5k CL, Open Since 10/2012
Authorized User (Parents Pay/Use)
Costco TrueEarnings Amex $29.4k CL, AU since 11/2012

Posts: 2
Joined: Wed Feb 06, 2013 5:10 pm
Location: California

Postby james01 » Thu Mar 07, 2013 7:59 pm

I waited because I got sent a card from Credit One Bank Visa for $1500. Are these worth it to begin rebuilding credit history?

I'd rather have a regular Visa from Chase bank, though. So send them the bank statement and have them mark it as a rebuttal?

Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 2 guests