First CC after Ch 7 Discharge, what next? Help!

[radguy]

Hi all, first time I post here, but I've gotten lots of good info from the board. So, it's been a year since my discharge and after trying to apply during the summer for a Cap 1 card I was finally approved, $3000 limit. Great! Now I can start to rebuild my credit. I need help from you guys, what are the next best steps? Apreciate your help.

[Scupra]

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@radguy wrote:

Hi all, first time I post here, but I've gotten lots of good info from the board. So, it's been a year since my discharge and after trying to apply during the summer for a Cap 1 card I was finally approved, $3000 limit. Great! Now I can start to rebuild my credit. I need help from you guys, what are the next best steps? Apreciate your help.

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Congrats on the Cap One approval, nice starting limit as well. You are probably in the credit steps program and will get a CLI at 6 months! As to what to do next, there is a great thread on rebuilding you should attempt to follow. You will need to adjust to your situation since you are a year in now. 

http://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/td-...

Good luck!

[radguy]

How can I just the plan in my situation, I'm already a year out, should I follow Soulmaster's plan from the start? What does anyone suggest? Thanks.

[ezdriver]

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@radguy wrote:

How can I just the plan in my situation, I'm already a year out, should I follow Soulmaster's plan from the start? What does anyone suggest? Thanks.

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Build up a positive payment history for 12 months or so then apply for a 2nd credit card. Alternatively, if you are in a rish, then I recommend two secured credit cards to go along with the one tradeline that you already have ... then patiently use/pay/repeat.