Can I apply to a credit card company that I had debt with

Question

My credit card debt was sent to collections 7+ years ago and now the collection agency doesn’t bother me and my credit is much better. What I want to know is can I get a credit card from the same company that I originally had the debt with? Basically would I be approved?

Answer 1

What I want to know is can I get a credit card from the same company that I originally had the debt with?

If you apply with the same financial institution, expect that if they still have a record of your time with them, that they may not be willing to risk their funds again.

Note that many financial institutions are on the same credit card network. That means that major back X might reject you, but major bank Y will only have access to the data in your credit file. Major bank Y is more likely to extend you credit.

There are some closed networks like Discover that if you had debt go to collections that would hurt your ability to get a card in the future.

Basically would I be approved?

Maybe. You should start with your current bank. Your years of good behavior should include not bouncing checks, and not being overdrawn, therefore they should be more likely to give you a card. It might be a secured card, or it might be smaller than you would like, but that is where I would start.

Answer 2

You can always apply. If your credit rating has recovered they might accept.

Note that this is really the decision of the bank, not the credit card company, so if one bank turns you down you can still try another bank for the same card (though perhaps not with the same rate or extras).

If they don't, there is always the prepaid-card solution. Or debit card, though that doesn't help rebuild your credit rating, and last I checked debit cards didn't have all the same consumer protections that credit cards do. (I may be out of date on that point.)