Credit Cards Center Credit cards from our partners
Reply
Valued Member
Posts: 41
Registered: ‎02-05-2016
0

Advice on what to do next...

I am a bit over 4 months post ch.7 dishcarge.

My scores currently sit at 630ish on all 3 reports, and these are FICO scores.

I have only opened a Cap. 1 card and use and pay it religiiously.  $2.2k limit, 8% util currently.

I am authorized user on several accounts that are in good standing, high limits and low util. (less than 10%)

 

I am looking to add to my portfolio one or two more cards.

I apped for NFCU and have been denied twice now, once when first discharged and again this week.  I tried to recon on the phone and they said there is no such thing as reconsideration and that everything will be in the letter.  I also sent a message, no response.

 

I have 2-3 inquiries on each report and I haven't been credit seeking since getting discharged.

 

Who could I add next?  Im trying to avoid store cards at all cost.

Scores as of 07/30/2016: TU-457 | EX-457 | EQ-454
Filed BK7 07/29/2016
Regular Contributor
Posts: 185
Registered: ‎06-04-2015
0

Re: Advice on what to do next...

[ Edited ]

BankruptToBountiful wrote:

I am a bit over 4 months post ch.7 dishcarge.

My scores currently sit at 630ish on all 3 reports, and these are FICO scores.

I have only opened a Cap. 1 card and use and pay it religiiously.  $2.2k limit, 8% util currently.

I am authorized user on several accounts that are in good standing, high limits and low util. (less than 10%)

 

I am looking to add to my portfolio one or two more cards.

I apped for NFCU and have been denied twice now, once when first discharged and again this week.  I tried to recon on the phone and they said there is no such thing as reconsideration and that everything will be in the letter.  I also sent a message, no response.

 

I have 2-3 inquiries on each report and I haven't been credit seeking since getting discharged.

 

Who could I add next?  Im trying to avoid store cards at all cost.


First step is a second (different) card from CapOne IMO.

Ch 7 Discharge May 2015: EQ 588/TU 552/EX 570
March 2017: EQ 681/TU 659/EX 674

CreditOne $2200/Merrick $1700/Discover IT $3800/Target $1300/NFCU CLOC $2000/NFCU Cash Rewards $1000/PenFed Power Cash Rewards $2000/Total Utilization 5%
Highlighted
Regular Contributor
Posts: 155
Registered: ‎02-07-2017
0

Re: Advice on what to do next...

@BankruptToBountiful (love the name!)

Great job getting your scores that high so quickly! As has already been mentioned, another card would help you even more. Cap1, or maybe a secured card with one of the big banks. Did Navy Fed give you that option to start the relationship?

Also, do you have any loans? There are a number of articles on here (I'm on my phone so can't link for you but the search feature with works well) with options that work for those of us with BKs on our reports.


In the garden until spring 2018. Final date to be determined by closing on my new house!
New Member
Posts: 7
Registered: ‎03-21-2017
0

Re: Advice on what to do next...

I would hold off until my score was at least 650 across the board before I started to apply for cards. I would also research score parameters

or each creditor.  Every creditor has score paramaters before they lend. 

Frequent Contributor
Posts: 426
Registered: ‎06-22-2016
0

Re: Advice on what to do next...

If you can have at least 3 tradelines that's what you'll need to start rebuilding. Even if it's a store card it counts. See if you can do the SCT with overstock and get a card there, as it won't pull your credit that's helpful. I was able to aquire one doing the SCT myself, and it actually made my score go up 12 points. You could see if CapOne would give you another card, possibly call and speak with a rep and inquire you wouldn't have to wait longer or anything first. If you have an installment loan that would also be helpful, either an auto or creditbuilder. After 6 months and 3 tradelines you can apply for Cabella and Barclay. I haven't had luck myself with NavyFed, however they keep sending my husband preapproval offers in the mail, so I don't know why they like him but not me. PenFed requires at least 621 score for their lowest tier for risk based lending on CCs as an FYI.

Ch7 BK filed 7/5/16, DC 10/12/16

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.