Can you get a Disney Visa with a bankruptcy?

[heartsy77]

We filed bankruptcy over 5 years ago, ever since then we have had a excellent credit history. I have been tempted several times to get a Disney visa however on the questionnaire it clearly states you have to be able to say you have not filed bankruptcy. Had anyone answered yes and still been approved?

 

[james'mommy]

Your BKO hasn't been discharged yet. I would probably guess the answer would be no. I spent several years working as a credit analyst for a major cc company. I definately would have turned down an application with a BKO still showing on a credit file.

 

[KerriSue]

Dont do it!!! You dont want to put yourself in a debt position again.

 

[Irin997]

I don't see why you can't although I've never tried. If you filed 5 years ago then you BK has roughly been discharged for 5 years. A mortgage co only requires the discharge be 2 years old! As long as you've maintained and gotten new credit throught the past five years, kept it up, and now have a good credit history, I don't see why you shouldn't be approved. But, if you are at all concerned that you will not be approved, then don't do it.

 

[wvjules]

If you included Chase in your BK you will never again have a Chase card. They and other prime lenders will blacklist you if you BK'd them.

If you didn't just wait 5 more years until the BK falls off of your credit report to apply for one. They aren't a BK friendly lender. You'll be stuck with sub-prime for a while. Just don't get caught up in it again.

 

[wvjules]

Your BKO hasn't been discharged yet. I would probably guess the answer would be no. I spent several years working as a credit analyst for a major cc company. I definately would have turned down an application with a BKO still showing on a credit file.

Ummm, if she filed 5 years ago, i'm gonna venture a guess that it has been discharged. They only usually take a few months, not years.

 

[ducklite]

I don't see why you can't although I've never tried. If you filed 5 years ago then you BK has roughly been discharged for 5 years. A mortgage co only requires the discharge be 2 years old! As long as you've maintained and gotten new credit throught the past five years, kept it up, and now have a good credit history, I don't see why you shouldn't be approved. But, if you are at all concerned that you will not be approved, then don't do it.

The reason mortgage companies are actually more lenient on credit when it comes to discharged BK's is that they've got collateral--the house. When someone defaults on a credit card, it's not like the creditor can take back the vacation, dinners out, school tuition, or whatever intangible was purcahsed with it.

Anne

 

[ClarabelleCowFan]

Ummm, if she filed 5 years ago, i'm gonna venture a guess that it has been discharged. They only usually take a few months, not years.

Not necessarily. It depends on what type of BK she filed.

 

[wvjules]

Not necessarily. It depends on what type of BK she filed.

You're right. I automatically thought of a BK7.

 

[Malificient Tater]

why would you want to go into debt?? I would think a credit card would not be good for you. I know you get perks but is a discount worth having it. I would think Chase would not want the risk.

 

[ducklite]

why would you want to go into debt?? I would think a credit card would not be good for you. I know you get perks but is a discount worth having it. I would think Chase would not want the risk.

First of all, not everyone who files bankruptcy does so because of irresponsible spending.

Next, having a credit card isn't automatic debt. I have several of them--all rewards based, I use two of them each month. The difference is that I don't charge anything I don't have the cash to pay. In that case it's not debt, it's leveraged assets. Billionaires don't become billlionaires by paying cash for everything they buy. They leverage their assets to make teh most of their money.

Anne

 

[Faerie]

Totally agree about not everyone who files BK has had irresponsible spending. I was in a car accident at 18. I did not have health insurance. 150,000 in medical bills later, you can see where I ended up.

 

[Fitswimmer]

The bankruptcy drops off your credit history after 10 years. Once that happens you've "served your time" so to speak. Your credit rating will go up quite a bit since you've been responsible since filing. At that point, you can probably apply for the Disney Visa and get it. Since you've been responsible with the spending since then, it should be no problem.

The purpose of bankruptcy was to give people who had fallen on hard times a second chance. People would be surprised how illness, injury, accident or lost job or any combination of events can destroy YEARS of responsible living. Of course, there are people who abuse it, but there are also people who for no fault of their own have been put in the position where it was the only sane option.

 

[summerrluvv]

Not necessarily. It depends on what type of BK she filed.

Even if it was a 13, it would be discharged. The longest plan the Court offers is 60 mos.

Chase is not BK friendly. Check out www.creditboards.com for creditors that are BK friendly.

 

[Chris]

why would you want to go into debt?? I would think a credit card would not be good for you. I know you get perks but is a discount worth having it. I would think Chase would not want the risk.

Kind of a blanket statement. We have no idea what the OP filed on or why.

 

[Chris]

Summer~ Just had to tell you that your baby is BEAUTIFUL! I can't believe how big she is already! And her big brother looks very proud & Handsome!

 

[summerrluvv]

Summer~ Just had to tell you that your baby is BEAUTIFUL! I can't believe how big she is already! And her big brother looks very proud & Handsome!

Thanks! They're both growing up too fast!!

 

[Eventer98]

In NY the bankruptcy stays on your credit record for 10 years and then magically disappears. Banks can see it but cannot hold it against you after 7. It will be 7 years for me this October yet I applied for the Disney Visa in May. I answered "no" when they asked if I had a bankruptcy on my record. I was approved with no issues. I believe my credit score at the time was 720. Hope that helps!

 

[Eventer98]

why would you want to go into debt?? I would think a credit card would not be good for you. I know you get perks but is a discount worth having it. I would think Chase would not want the risk.

It sounds like you are saying that all people with bankruptcies are not to be trusted. I had to file b/c I got into trouble with college money. At 17yo I did not have the credit for student loans, my parents could not help, so I charged tuition. When I graduated I was in over my head. I could not get an apt. I tried to consolidate but it did not help. It does not mean I am irresponsible with credit. I now have successfully paid off two car loans at 3% interest, bought DVC and also have 2 credit cards.

 

[splashmtnfan]

Wow to say someone with a BK should not want a credit card because they will ...what charge it to the limit and "get stuck"? How sad to judge. The OP asked a simple question, yet you judge.
I had to file because my attorney, brother, advised me that after finding black mold in my home, and paying the mortgage, utilities and insurance & taxes on the house for two years, and the insurance company dumped over $110,000 into it, the mold was so deep they had to demolish it hence I payed to have two homes. (the one I lived-in/leased for two years and my dream home, that was usesless to us) I was losing about $3000 a mo. almost $40,000 in two years, while having numerous health related issues due to the mold.Everyone has a different story, and re-building credit, to get another house, car etc. is very difficult, they do not get to "hear" your story, you are just a credit score. If only you could walk in another's shoes...
Anyway....the property was only worth $30,000 and the insurance would not pay off the mortgage. We were saddled with the $240,000 mortgage with an empty lot! What would you do????????????