monacho

Didn't see that you also asked about Chase. They ate 6 figures in my BK7 too and it took me around 8 years to get back in on the business side with my wife as the guarantor on the business we own together. It took me 12 years before they would accept me personally again but that also could have been due to 5/24 issues because I've been opening a lot of accounts whenever I get the bug to do it. I have a couple cards with my own business, and a personal card and one with the joint business. I forgot to mention on Citi that they also sent me a preapproved offer last month for a $27K personal loan which they funded the next day. I have good verifiable income for any institutions that want to pull the 4506-T and 800+ FICO 8's on all 3 bureaus now. All of the creditors that were IIB for me that still exist as banking institutions have let me back in EXCPET for Amex.

Citi ate about 20K with my chapter 7 BK back in 2008 and it took about 10 years to get back in with them directly. Now my limits are 15K and 5K on 2 cards with them that I don't use very much. B of A ate 6 figures in my BK and it took them 12 years to let me back in first on the business side and then the following year on the personal side. Total limits with them are just over 100K between business and personal. Never tried US Bank before or after. Amex still has me blacklisted and won't even let my wife add me as an authorized user on her personal cards, but I do have a card issued to me on the business we own together. Amex will not even pull my credit if I apply, it just says I'm not eligible. They also won't process an application for me on my own business that I have without her.

I just got a business credit card from Poppy Bank that's not reporting to personal and it let me balance transfer $9,200 on a $10,000 line with 0% interest - but I don't remember how long it is for.

I agree completely. Her husband literally took out the cards in her name without her permission after he ruined his own credit and then used the cards to live on. In my own case from a previous lifetime (2008-ish) I owed B of A $130,000 on credit cards and they called me up and offered to take a settlement of $12,000 if I would refrain from filing BK7. Then before the time period lapsed for me to find the money they emptied the last $600 I had in my checking account which meant I got overdrawn by that amount since I had already made payments for other things with that money but they took it first before the other transfers cleared. This is part of why I'm surprised she can't get them to take any lesser amount but it is what it is. I told her if she gets sued and they get a judgement that they will eventually get it all. I really appreciate the insights on this guys. Thank you.

I agree with you 100%. It's completely unreasonable and she never should have accepted the plan that her ex-husband set her up on with them. He signed up for the credit cards in her name without her permission so she expected the judge to order HIM to pay them off in the divorce but the judge assigned all the accounts in her name to her even though she didn't open them. Does anyone know if B of A is going to sell the charged off debts to a collection agency or just keep trying to collect themselves?

I have a friend who is about 170 days delinquent with 2 B of A credit cards totaling $22,000 and she called up and said that if they will accept some lower amount she can get family members to help her pay it off. They told her "we don't do that" and that she will have to wait until after it is charged off because she was already in some kind of a negotiated payment plan with them that she did not keep up with. She also owed Chase like $6,000 and they immediately accepted an offer to pay it off for 50% of the balance due. She keeps calling B of A to try and talk to someone but gets the same story. Is there anything she can do? She has been told it will be charged off at the end of the month.

I discharged AMEX in a BK back in 2008 to the tune of about $70,000 and they still won't let me back in. I tried applying for a Delta Amex card because I thought I was going to have to start using Delta a lot more and they wouldn't even pull my credit, just sent an instant denial. B of A and Chase got burned for more, and both finally let me back in last year. When my wife tries to add me to her personal Amex account they tell her I am not eligible even as an authorized user. At one point they dropped her credit limit from $25,000 to $1,000 but that was a few years later. Right now her limit sits at $2,000. I have had business accounts with Chase and Amex where she is the guarantor since 2017 and with B of A on a company where I'm the sole owner since 2020, even though neither B of A nor Chase would give me personal cards until last year. Every other creditor that was IIB that still exists has let me back in much sooner. My current FICO 8 scores are 809/804/810.

Here's an interesting update: Chase and B of A have let me back in with personal cards but Amex still won't pull my credit when I apply. I own one business with my wife and she is the guarantor on a Chase Ink card for them going back 4 years, but they still wouldn't approve me personally until just now, and gave me $16,200 starting line on a Sapphire preferred. I own another business that already had a business B of A Visa with no personal guarantees before I bought out the company and they let me keep that open before now. B of A gave me a $14K starting line on the new card. Both were hit hard (6 figures on credit cards) in a BK7 back in February 2008. The decline notice from Amex suggested I might be pre-qualified for an Amex from Credit One Bank... but not even going to check that. A Credit One Visa is one of the sub prime/toy cards that I closed earlier this year. The only toy card I have left is a Best Buy Visa which I'll probably shut down soon.

I paid off my only car loan at the time last September and saw my FICO 8 scores drop 20-25 points at the time. At the end of October I financed another car and saw my FICO scores increase and my KreditKarma scores decrease. Apparently FICO and Vantage scores aren't the same thing

If one of your higher limit cards is one that typically offers balance transfers maybe pay that one down completely first and see if you get the BT offer. When you start paying down though watch for them to balance chase you and drop your limit. If they do that then pay that card down last. My preference would be to close any account that balance chases you because that's just rude If neither of those ideas work then just start plugging away at it. You have a workable plan and paying down that level of debt that quickly is admirable.

My external accounts are all still in the dropdown lists - didn't have to re-enter anything. However my balance is $0.00 so I can't try to process a payment to see if that works.

I have 21 open credit cards reporting, mostly with 0 balance. I also have a CLOC from NFCU and checking overdraft line at Patelco with 0 balances. First Premier was opened in 2008, Merrick and CreditOne in 2011-2012. Most of my other accounts were opened in 2013 or late 2016/2017. If I close them my average age of open accounts is still probably over 5 years. I will give up on trying to NOT open accounts to try and get back in with Chase. I appreciate that feedback on XDW. It's not worth me paying Amex $70,000 just to be allowed to get a new card with them. I guess I need to blacklist them too and not allow my clients to pay using Amex I just tried applying with them over the weekend so I'll wait for the letter and think about opening up the secured line. I always appreciate your comments on credit unions and disco... when I started paying down my balances last year disco dropped my limit in line with the first paydown so I'll probably get rid of them too because that's just rude... I appreciate all the advice guys. Thanks for pointing me in the right direction!

My current FICO-8 scores are 748, 774, 768 with lots of new credit established post BK. My current utilization is right around 10% and will be under 5% when Alliant posts the balance I just paid off in a few days. Amex, BofA and Chase were burned hard back in 2008. Amex still won't pull credit on me, and won't allow my wife to add me as an authorized user saying that I'm not eligible to have a card. However one of my businesses has an Amex account with PG by my wife and they let me get a card there. Go figure. That business banks at Chase and we have an Ink Preferred (also PG by my wife) - but Chase immediately declines any application I make. I'm currently at 1/24 and wanted to apply at Chase again before I start getting other accounts opened but no dice. B of A only offers me a secured card when I apply but I really don't want to stain my credit report with a secured card. Another one of my businesses has a B of A credit card with no PG but we've been banking with them for a long time. Everyone else that was IIB that still exists has let me back in at some point, but these three were the hardest hit (70K-130K revolving plus B of A took back a house I was underwater on by over a million dollars) I think it's not likely they will ever let me back in. Have any of you gotten back in with any of them after an especially large IIB? My oldest account is First Premier Bank and costs me $7/mo in fees to keep it open. I also have Merrick at $4/mo and CreditOne charging something like $8.35/mo all of which is a pain because I have to remember to pay it each month even though I haven't used the cards in years. AAOA is just over 6 years. If I close all 3 of those my utilization will still be under 5% - they aren't significant limits. Is there any reason to keep them open? I've learned a lot here and appreciate all the knowledge. You guys helped me get my BK removed early, remove tax liens, remove medical collections and re-establish good credit. (Those three sh*t cards were before I found you). I tell clients to come here all the time and learn how to fix their own credit problems rather than paying a credit repair co. And I tell them to read at least 20 hours before writing their first dispute letter