Chase credit card after bankruptcy?

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stmatt
 
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Chase credit card after bankruptcy?

Postby stmatt » Mon Aug 01, 2011 11:42 am

I just read the review of the Marriott Rewards which is from Chase, and am really interested in getting one.

The Problem:

I have a bankruptcy from about 8 years ago, and the 1st question they ask in the application process is if your credit history is clean of bankruptcies?

I have a good credit score, 679. My wife has a credit score of 712. We have paid off a car and a mobile home. But we have no open line of credit, hence our wanting to get a credit card.

So what is the solution for someone in my situation? Can I get a Chase credit card like the Marriott, or am I out of luck because of the bankruptcy?


DarrellEW
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Postby DarrellEW » Mon Aug 01, 2011 6:33 pm

I'm not an expert on bankruptcy, but I'd say your best bet is to find a good secured credit card. A secured card requires a cash collateral deposit that becomes the credit line for that account. So it is essentially just a debit card, but it will help establish/repair your credit history.

However, a bankruptcy is usually cleared from your credit report in 7-10 years, so the first thing you should do is look at your credit report (I'm assuming you've recently pulled one since you know your scores). If the bankruptcy is no longer on the report, then I don't think you'd even have to report the bankruptcy on your CC application. If it is still showing on your report, then you might just wait it out a couple more years until it is cleared.

DarkLabel
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Postby DarkLabel » Mon Aug 01, 2011 11:15 pm

You can always call the bureaus to get it cleared up. Simply explain how its been over 8 years and that it is time that it fell off the report.

I wouldn't apply with chase yet, though I think you're in good enough standing to try out for an Orchard Bank or Capital One card.

DavidNY
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Postby DavidNY » Tue Aug 02, 2011 10:15 am

Try Cap One.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Tue Aug 02, 2011 11:51 pm

Yeah Chase is geared more towards those with good credit. It almost seems as if lately they are gunning for the marketspace AmEx occupies.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
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ooxs
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Postby ooxs » Sun Aug 21, 2011 10:56 pm

Chase will decline your application with 100% certainty. My Credit score is in the mid-700 and i am having a tough time getting approved. Good luck

DP1969
 
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Chase (Southwest Airlines) credit card with bankruptcy.?

Postby DP1969 » Tue Jan 31, 2012 6:11 pm

We have a bankruptcy 4 years out but each have Chase credit cards (from the Wamu acquisition). Problem is, the limit is not high enough for us to purchase airline tickets we need. I was going to apply for an airline credit card and noticed Chase (Southwest) is the only one who asks if you have a BK on your record. My other choice is AA (Citi). My credit score is in the mid 700's. Citi doesn't say anything on there application but I would really like the Chase Southwest as we fly more with them. Thoughts on either one?

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tntexan72
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Postby tntexan72 » Tue Feb 07, 2012 9:44 pm

Just keep in mind...Chase doesn't like BK, CO reporting. You can always try but save the hard IQ for another bank who will be a little more forgiving.

mettmann
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Postby mettmann » Wed Feb 22, 2012 1:46 pm

Cap 1 and HSBC helped me 2 1/2 years post BK - and I approved for a Chase Auto Loan in December. (I was with Chase, Citi and AMEX pre BK)

tiznaki
 
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Has anyone ever closed their bank account over a CC denial?

Postby tiznaki » Sat May 19, 2012 12:21 am

Hello everyone, I recently applied for Chase's Slate card since I sometimes carry a balance on a card. I received the 10 review response and called in when I got my letter for a reconsideration.

The rep stated that since my report showed a bankruptcy (discharged Jan '08) they would not be able to approve me. I explained the situation and asked her to check if I had ever been late on something since (3 car loans and 4 CC since the BK). She said no and that I would be free to apply at a later date.

She seemed a little annoyed when I asked her what would change later. lol I asked for my credit score, she said it was 737 on Ex (since confirmed on the denial letter). I asked if my 4 year history banking with chase (moved to chase after BK, they gladly took my money then) had any bearing on the decision she said "no".

I informed her that I did not want to deal with a bank that did not want to deal with me so I would be closing all my accounts with them, she said "fine" I bleep you not!

When I arrived at the branch to close the accounts the manager there said they would try and perform an override based on my history with the bank, income ($130k) and my credit score only to be denied again. :) Is this something that could come back to haunt me?

I have since opened an account at Allied CU and Penfed (for their rates, certainly not for their friendliness to the BK crowd). Am I the only one that's fed up with banks gladly accepting of taking money (deposits and government bail outs) then completely unwilling to do business with someone who has a better track record than them(3 billion dollar loss)?

Getting unsecured credit cards after bankruptcy (try that advice)



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