How Ironic - New "Kicker"

[Flamingo]

As of April 2009, our Chapter 13 is totally off our credit reports; we checked all three and there is no trace of it and all associated creditors are removed. We have great scores and excellent credit again. However, here is the new kicker. We order specialty pet items online through a major pet place usually getting free shipping, discounts, etc., making it cheaper to get it that way than locally. Two weeks ago the place during checkout online invited us to apply for their own Visa (through Chase) where we could accumulate points and get other discounts. We have not applied for credit in a while and the BK is gone...high scores in the 790s...no late or nonpayments ever...The denial from Chase comes in the mail stating I do not have enough long-term revolving credit showing on my reports to establish myself as creditworthy! LOL!

Denials, even after BK is wiped out and one has high scores, will stil come everyone. Don't think that once you are out of the BK and past that 7 or 10 year off the report mark that all will be golden....

[dingdong]

Sorry to hear that.

That damn average age of accounts is pretty big score booster.

Could you be placed as an AU on a relatives account that has an older tradeline to give some age to your file. It might help, especially considering if you have virtually no TL reporting, one older TL could kick your averages up very high.

Also, if you had an older Amex card with a small balance before BK, they have a program called Oasis, where if you pay back any defaulted amount, they reinstate the account and use the old date of opening as the reporting date and report as paid as agreed from the time of original opening to current date.

It would only be a rational choice if you had a small balance before BK and it was worth the payment for the TL, perhaps if you were considering a mortgage and needed the score boost to get a better rate.

[Flamingo]

Sorry to hear that.

That damn average age of accounts is pretty big score booster.

Could you be placed as an AU on a relatives account that has an older tradeline to give some age to your file. It might help, especially considering if you have virtually no TL reporting, one older TL could kick your averages up very high.

Also, if you had an older Amex card with a small balance before BK, they have a program called Oasis, where if you pay back any defaulted amount, they reinstate the account and use the old date of opening as the reporting date and report as paid as agreed from the time of original opening to current date.

It would only be a rational choice if you had a small balance before BK and it was worth the payment for the TL, perhaps if you were considering a mortgage and needed the score boost to get a better rate.

We have older mortgages and vehicle loans showing as fine but the issue is the "revolving" credit. We would probably be slurped up in an instant for a car loan or other loan purposes but with all our past wiped out good credit prior to filing we have to start over. We really do not need any credit cards as we have the ones open after discharge (Visa & Mastercard) and 3 Dept. store cards (all zero balance), and I just did this on a whim to get the discounts/free shipping that would come with utilizing that card. So this is an indicator to folks in Chapter 13 that after your 7 years is up, you may have to start over since all will be cleaned out as to revolving credit.

We did not have an AMEX card prior to filing and my hubby did have a Corporate card which he had to turn in when he was laid off and that was a year prior to our filing. We refinanced in 4/06 to buy out of our Plan and thankfully don't need to worry about a mortgage as you mention and I believe what occurred here is more of a "revolving" credit denial due to lack of a revolving credit history.