Chapter 7 discharge: Rebuilding Credit

Anonymous · ‎07-06-2017

I recently discharged on May 16. I would like to refinance my vehicle with NFCU but I'm not sure if I will get approved. In the past, I have had capital one, credit one, milestone, first premier and a Total credit card. I have applied for new credit cards with capital one and credit one but was denied. I was denied a NFCU credit card as well. Need bankruptcy friendily credit unions and/or lenders.

CreditExpressNJ · ‎07-06-2017

Im in that same boat and i have tried with NFCU even reconning i was discharged as of June 30 and still had no luck... So I'm just gardening for now....I would love to see the chime ins here because it would definitely help me as well...

CH7 Filed (3/29/17) - 483 EX 516 EQ 517 TU Discharged (5/31/17) - 559 EX 538 EQ 501 TU Current (1/18/22) - 690 EX 683 EQ 671 TU
Current Cards

Anonymous · ‎07-06-2017

For an unsecured credit card, NFCU will generally not approve applications until you are 1 year post-discharge.

For all other unsecured credit, as well as vehicle loans, NFCU will generally not approve applications unless you have three trade lines showing 6+ months of history post-discharge OR an auto loan with 12+ most of history post-discharge.

In both of your situations it is too early to apply for unsecured credit with NFCU. I'd start with a secured card with them, and if you don't have three tradelines, get a secured loan too, then add a rebuilder credit card from somewhere else for a third trade line.