Rebuilding Credit After Bankruptcy

Author: Alexander
Joined: 23 Nov 2004
Posts: 5
Posted: Sat Dec 18, 2004 10:36 pm
Post subject: Does anyone have an example of a good reconsideration letter

Does anyone have an example of a good reconsideration letter? I have a clean file with a FICO score over 750 with Equifax. I applied for a Citi Bank Platinum cash rewards card and they pulled my Equifax and still turned me down because I filed bankruptcy ch 7 and I has an account with them that I filed on.

View our latest credit card ratings!



Author: NightStar
Forum Moderator
Joined: 07 Nov 2003
Posts: 2419
Location: Illinois
Posted: Sat Dec 18, 2004 11:05 pm

How long has it been since you had filed bankruptcy? You should call and ask customer service is there is a given period of time they require someone to wait before re-applying after having filed bankruptcy. I have heard some places will make a consumer wait more then 10 years... where others just black list a person for good... so should call in first and ask on their underwriting requirements to see if they will reconsider.

http://webgroups.biz/creditcardperks/phpBB2/viewtopic.php?t=1896

Looked up here, and it shows Citi, waiting 2 years past bankruptcy, but initial denial like you said.

View our latest credit card ratings!




Author: Alexander
Joined: 23 Nov 2004
Posts: 5
Posted: Sat Dec 18, 2004 11:19 pm

I filed about 7.5 years ago. Thanks! I had not thought of asking what their underwriting requirements were.

View our latest credit card ratings!



Author: NightStar
Forum Moderator
Joined: 07 Nov 2003
Posts: 2419
Location: Illinois
Posted: Sun Dec 19, 2004 12:33 am

Sorry I don't have a sample letter, and that is quite a long time, I always thought this creditor was bankruptcy friendly. But there is a difference to any creditor as to if you filed bankruptcy / and if having filed, that they had been included prior in the bankruptcy... I hear American Express is like that 10 years before you can open account with them, in fact they may require repayment of the discharged debt, but I am going by hear say... they can't make you pay a discharged debt, but they can require it if you ever want service with them again.

View our latest credit card ratings!




Author: Alexander
Joined: 23 Nov 2004
Posts: 5
Posted: Sun Dec 19, 2004 12:44 am

I don't know either. As far as city goes this particular card is the 5% cash back Platinum card so the requirements for it are tough. Of course my score on the report they pulled is about 770 so I figured I would get it. As for American Express I had a gold card with them at the time I filed BK CH 7. The card was at zero balance so I did not include it with my BK. But of course, they would have been notified by the court because I had to mention them. They did not close the card. For the last year or so they have been offering me an upgrade to Platinum which costs $300 a year vs. $80 a year for the gold card. If I fly more in the future I will do the upgrade to get the customer service and they offer a second seat for free if you purchase on in first class. The thing is I really want this citi bank card because it will get citi to send me $300 a year. They give back 5% for food and gas purchases. They send out checks in $50 increments. That's $3,000 a decade.

View our latest credit card ratings!