After discharged chapter 7 bankruptcy, how soon can I receive an unsecured Bank of America Card again?
by Author on Sunday, June 20th, 2010 | 3 Comments
I already have a pretty good score, and some good unsecured cards. Any thoughts?
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Some credit card issuers have "elephant’s
memory" so to speak, and as such may
*never* offer another card product to someone
who discharged an account with them through
a prior bankruptcy. It’s really up to the policies
of the individual bank – they’re under no obligation
to give you another chance.
Even though the bankruptcy may drop off your report in 10 years, the record of the discharged
account may remain in the files of the bank
for decades.
Best thing to do is simply ask them if they will
consider you for a new account having
previously discharged one through bankruptcy.
Some banks will only do it if the old account
which was discharged through bankruptcy is
repaid.. you have no legal obligation to pay it,
but it may be their requirement for re-establishing
a relationship with you.
A call to your local B of A will give you the correct answer. As an alternative, consider joining a credit union to get better consideration.
Good luck.
There are some companies who will give you one right away because you cannot file bankruptcy again for at least 7 years – so you’re a sure bet for a while.