Choosing A Credit Card

[scotthay]

What about Amex? Do they blacklist you?

Out of all of my cards (and I had most of them at one time or another, I had close to 300k in unsecured credit at one point - credit, not debt) I miss my Amex Business Platinum the most (not to charge things, but for the benefits and I always liked the fact that it was not a revolving balance card, I do not intend to ever pay interest to a credit card company ever again anyway). I don't miss any of the other credit cards at all, I have been cash only for the past 2-1/2 years and it is much better.

[iswmle]

Did you iib amex? I believe while the BK is showing they will not approve you.

[scotthay]

Yes, so no love from Amex for ten years.

[ccmisery]

I BK'd at least 10k on CapOne... I had tried applying every few months out of BK.. and finally after a year or two of attempts (don't recall exactly), they finally gave me a CC. So, I don't think they blacklist.. I truly feel it's very time based... some people for some reason are able to get a CapOne right after BK, and some after months or years.

I did end up closing the card because they were charging an AF (only $19.. but still). I was using it to re-build (score bump) to get better cards. Once I got better cards, I closed the CapOne.

I had one Cap One CC in my BK, around $2500 in credit and they denied me new credit on 2 attempts over the past year. I get no offers from anyone aside the Credit One and the other high interest/high fee place, those go right in the trash.

I have gave up trying Cap One, too many hard pulls is not good.

[TXskyblue]

Yes, so no love from Amex for ten years.

I have heard that AMEX will blacklist you forever, even after 10 years, if they lose money on you due to BK. The only option I am aware of is the Oasis program. You volunteer to pay back your entire discharged balance, regardless of the fact that it's been discharged, and AMEX removes your blacklist and gives you a starter card. If you use the starter card responsibly, you're likely to be approved for the mainstream, desirable AMEX cards later.

It doesn't make sense to pay thousands of dollars in discharged debt as essentially an application fee, but people do it.

[TXskyblue]

I had one Cap One CC in my BK, around $2500 in credit and they denied me new credit on 2 attempts over the past year. I get no offers from anyone aside the Credit One and the other high interest/high fee place, those go right in the trash.

I have gave up trying Cap One, too many hard pulls is not good.

Have you tried the soft pull CapOne preselector? CapOne pulls all three CRAs so it's not a good idea to apply without some reassurement from the preselector.

Do you qualify for NFCU? If so, they are quite likely to approve you for a credit card.

[ccmisery]

Have you tried the soft pull CapOne preselector? CapOne pulls all three CRAs so it's not a good idea to apply without some reassurement from the preselector.

Do you qualify for NFCU? If so, they are quite likely to approve you for a credit card.

Yes, I was denied but this was 90 days ago, I have not tried again.

No NFCU, not a vet.

Best I can do is another local CU, I am thinking of that soon, but my BK is not closed yet as mentioned in another thread, I think that this is red flagging me for some reason.

[CCsAreEvil]

I have heard that AMEX will blacklist you forever, even after 10 years, if they lose money on you due to BK. The only option I am aware of is the Oasis program. You volunteer to pay back your entire discharged balance, regardless of the fact that it's been discharged, and AMEX removes your blacklist and gives you a starter card. If you use the starter card responsibly, you're likely to be approved for the mainstream, desirable AMEX cards later.

It doesn't make sense to pay thousands of dollars in discharged debt as essentially an application fee, but people do it.

That's insane. There's no way that's worth it at all. I can't see any justification for it.

I've never applied or owned an Amex before.. so I'm hoping to wait out the 10 years for the BK to drop off and then apply.

[IBroke]

I have heard that AMEX will blacklist you forever, even after 10 years, if they lose money on you due to BK. The only option I am aware of is the Oasis program. You volunteer to pay back your entire discharged balance, regardless of the fact that it's been discharged, and AMEX removes your blacklist and gives you a starter card. If you use the starter card responsibly, you're likely to be approved for the mainstream, desirable AMEX cards later.

I assume people willing to do that go to church on Sunday in order to pray for AMEX....

[iswmle]

.. so I'm hoping to wait out the 10 years for the BK to drop off and then apply.

My husband has an Amex and it has been "meh" all around. I really think the prestige is what carries the company, as well as the concierge services which come with a hefty price. Their customer service is hit and miss. They outsource to Teleperformance which (in the area that I live in) is notorious for being one of the worst employers. I use to want an Amex as well, but now I am pretty indifferent.