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6 years discharged

I have been discharged for over 6 years and am still having a hard time getting a credit card from a `major bank`. I`ve had a secured card for 5 years and have the maximum credit available. This card is only secured with a small deposit that I placed 5 years ago. Many banks have told me that they won`t go near me until 7 years is up. Why is this? I now have a great job, RRSP`s and have paid off 2 loans from my employer`s credit union. Are they allowed to hold my bankruptcy against me for this long? I was under the impression that lenders were only supposed to hold it against you for 6 years but it stays on your credit report for 7 years.
was under the impression that lenders were only supposed to hold it against you for 6 years but it stays on your credit report for 7 years.

One Response to “6 years discharged”

A licensed trustee said...

I’m sorry, but I suspect there must be something else “wrong” with your credit report. Most people, especially ones earning a decent income, have access to credit within 4 or 5 years of their discharge. If you’ve been discharged for 6 years with a secured card then there is something else having a negative influence on your ability to access credit.

Something for everyone that reads this site to keep in mind: the granting of credit is completely at the discretion of the lender. As an individual you have no right or entitlement to credit – it is decision that rests with the lenders and as this person’s story demonstrates, lenders can be fickle…