Got approved for a credit card 2 months after discharge!

[katztoo]

We were discharged from Chapter 13 on 11/26/12. We've been getting pre-approved offers from Barclay 3 times a week since then! Decided to try for it today and got approved for a $1500 limit rewards mastercard with no yearly fee. The apr is 22.99% but we don't plan on carrying balances so we don't care. We need a card to rent a car on a vacation this spring and were so happy to get this. (last time I checked my credit score it was only 638). After five years of chapter 13 I know we will never charge anything that we don't have the money to pay off again.

[ace300s]

Congrats.....I was discharged BK7 06/12 and haven't recieved one single offer.....I've make sure my credit reports are ok.

Maybe because you were BK13 that makes a difference? I had about 15 credit cards and was never late before filing BK7. Just makes me wonder why some folks get offers and others don't.

[katztoo]

We were not late before BK either. Check on your credit reports to see if you ever opted out of receiving offers in the past. I had in the past and changed that option on my reports and started receiving them. When we put the code in from the offer it brought up an app and we were approved instantly within minutes of submitting it. I didn't expect such a high limit!

[HHM]

axe300s, note that Katztoo was a chapter 13. Credit begins rebuilding after the case is FILED. You were chapter 7. However, if you were discharged in 6/12, you should be receiving some offers by now. But with frequent underwriting changes and new regulations coming out every month it seems, hard to say. Like ktaztoo said, maybe you opted out.

[ace300s]

Katzoo and HHM, thank for the information. I did check my credit reports for errors. Everything looks ok except for a few minor things. However, Experian does show everything correctly discharged. But shows five or six 30 & 90 days late and a charge off all after my BK7 filing date. I've read that those can be challenged?

How do I check to see if I have the oft out on credit offer on my credit report? I did receive a couple of those car loan offers...

BTW, I'm 63 and retired. So very happy in the no credit world. Its been so nice not dealing and worrying about paying huge credit card bills ($45,000). We'll be doing some traveling and need a credit card for hotels and car rentals. I'll probably try my credit union for a secured card. Hope they can help me?

[HHM]

Yep, it is those post filing late payments and charge off that are hurting you.

Have you actually tried to apply somewhere, e.g. Orchard Bank, etc, or trying to get a secured card (I don't really recommend secured cards because they tie-up cash, but some people have no other option).

[ace300s]

Yep, it is those post filing late payments and charge off that are hurting you.

Yeah I tought that could be the case. Transunion doesn't show them but experian does. I thought once you filed it stopped everything until discharge?

[Floridagail]

Your history before filing will not go away, If you were late it will show late. It will show status IIB, or in my case it shows charge off unrated. But all my 30 lates still show up, I did not file for 18mos after my cc chargeoff. I did dispute the chargeoff status and they refused to change it. I still got cc offers like crazy about 9mos after my filngdate. My chargeoff are due to come off this year, except 2.
so you just have to live with them. I also had Cap One Judgement 8600, they gave me a cc, so figure. I think you will get offeres soon.

[Logan]

Your history before filing will not go away, If you were late it will show late. It will show status IIB, or in my case it shows charge off unrated. But all my 30 lates still show up, I did not file for 18mos after my cc chargeoff. I did dispute the chargeoff status and they refused to change it. I still got cc offers like crazy about 9mos after my filngdate. My chargeoff are due to come off this year, except 2.
so you just have to live with them. I also had Cap One Judgement 8600, they gave me a cc, so figure. I think you will get offeres soon.

Not everyone gets credit card offers. I'm 5 years out of BK and i've only received 1 offer and that was about 2 years out of my BK. My credit score is 720+ and I have a few cc's so I don't need/want any more cards.
Logan

[ace300s]

Does age effect offers?

[Floridagail]

I am 63, I still get offers, about once a month, go right in trash. I have retirement on my credit file, Capital One auto loans comes about every month.

[HHM]

Who really knows.

It really could be anything, it could be geography, it could be age (I checked a credit report I pulled last year to see if it included date of birth, it does)

Credit card offers are generated off of lists of pre-determined criteria. The credit reporting agencies and FICO go to lenders and say, here is a menu of factors off which we can produce a list of candidates. The basic factors are credit score and geography, but there are numerous other limiting criteria available.

[frogger]

I did not opt out, however the only card offers that I received were those with $300.00 or so credit lines and the $250.00 fee that they charged you to open it. I did get an Orchard secured $400.00 card, used it for some time, then was able to get a Cap 1 for myself and the wife with 2k credit limits on each. Cap 1 has already increased the credit lines on them. If you want to buy anything Apple, check their deal with Barclay as well.

Good luck.

[Pjmax]

I don't think it's age. I'm 63, discharged 11/12. I get at least one or two car offers a week, the 'yeah right, 59% interest card' offers, and capital one - one or two a week. Started about ten days after discharge.

[Logan]

Who really knows.

It really could be anything, it could be geography, it could be age (I checked a credit report I pulled last year to see if it included date of birth, it does)

Credit card offers are generated off of lists of pre-determined criteria. The credit reporting agencies and FICO go to lenders and say, here is a menu of factors off which we can produce a list of candidates. The basic factors are credit score and geography, but there are numerous other limiting criteria available.

My wife gets them all the time. Same age and geography but an 800 FICO.