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joe8185

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What are my odds on an Amazon store card with mid-600's score and 2+-year-old BK?
I'm mulling over whether to get an Amazon store card as part of my ongoing campaign to rebuild my credit. I had to take a Chapter 7 BK over two years ago (actually discharged in late 2014), and currently have a Capital One Mastercard from the beginning of 2016 on which my credit limit was increased this summer due to my good payment history. My current credit score is 651 on TransUnion and 640 on Equifax; I don't know where I stand on Experian but assume I'm in the same range. This is an overall improvement of 70-80 points from where I was at about this time last year. I tried applying for a credit card via my insurance provider (USAA) in July but was denied because of my BK and took a small hit on my rating due to the hard inquiry. I'm a frequent Amazon customer (paying cash) and would like to apply for this card but I have some trepidation about doing so because I don't want to have my BK cause my application to be turned down again. Is it worth trying to apply for this card or should I look at something else? (I'm also anticipating purchasing a used car in the next few months to replace my 16-year-old vehicle, for which I'll also need a loan, and I don't want to do anything that'll end up hurting my credit too much.) Any ideas or suggestions?

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609 TU and 570 EQ

I think your chances are good. I just got my Amazon card with a $1000 limit. I was denied 6 months ago so I started using my secured Discover card to buy stuff off of their site. I don't know if it just takes a I few months of credit utiliztion before Synchrony Bank trusts you but lately I've been getting SYNCB cards left and right.

One thing that I found out is that Discover and Amazon have a relationship. When I go to the checkout screen, they have my cashback bonus on record and give me the opportuntiy to spend it. Maybe having a the secured Discover card helped me get the Amazon card but the last time I was ordering, I got the popup credit application at the checkout.

Reply by
joe8185

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Thanks. I've been using my secured card (the Capital One card) for occasional purchases (once or twice a month) from Amazon over the past year and have had that card for nearly a year now, with the aforementioned credit line increase in July. My mother was also talking to me last night about getting the CareCredit heatlh services credit card which is also issued by Synchrony, I'll probably ask about that one separately.

Reply by
joe8185

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One more thing - if Synchrony should turn down the application, do they have a reconsideration number to call?

Reply by
joe8185

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Huzzah! Got approved with a $800 credit line. :D It must have been the year-long history of purchases with my Capital One card and accompanying good payment history  that turned the trick. I did take a small hit on my TransUnion score, -3 points to 648, but I now understand that that's normal when there's a hard credit inquiry so there's no reason to worry, the main thing is I have the card!

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joe8185

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Just as a postscript, my Equifax score jumped by 26 points today (due to the new Amazon credit line pushing down my total credit utilization significantly) to 666. :)

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