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HOW TO: From BK7 discharge to 700 in 24 months or less!

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grassfeeder
Frequent Contributor

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!

how long out of Chapter 7 are people waiting till they app for the Discover IT card?  I would much rather have that than the Barclays.  My 1 year discharge date is coming up in October.

Fico 8 Scores 5/1/22 :
799 EQ | 793 TU | 809 EX
Message 111 of 1,877
SoulMaster
Established Contributor

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!


@grassfeeder wrote:

how long out of Chapter 7 are people waiting till they app for the Discover IT card?  I would much rather have that than the Barclays.  My 1 year discharge date is coming up in October.


I was 11 months post discharge (13 months post filing, @which is the date that actually matters), and applied online for the Discover More.  Got a counter offer and took it.  My EQFico @ the time was 663, though disco's model said 633 on my letter.

 

Good luck,

 

-SM

I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of Late January 2016 All 700+. Last CR pull from a lender(housing) was mid-score 749.
Goal Score: 700+ - reached.
Message 112 of 1,877
SoulMaster
Established Contributor

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!


@OMIAHEART wrote:

Unfortunately I don't have access to that particular CU.  Any other ideas?  I need more trade lines if I'm going to be on my way to the 700 club in less than 2 years!


Looking around, I see SEVERAL in CA that have them, but I don't know which one's you can join as a member.  Best thing to do is to call/google around until you find one that has a "real" credit-builder-type product.  Then go there, and make sure you'll Q by talking to a rep before you apply or join.  Note:  You're not looking for a "secured" loan.  Credit Builder loans are they're own specialized product, make sure whoever you talk to knows that.

 

First Q (for the phone call): Will you pull my credit for me to get the credit builder loan?  If "Yes", move along.

 

-SM

I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of Late January 2016 All 700+. Last CR pull from a lender(housing) was mid-score 749.
Goal Score: 700+ - reached.
Message 113 of 1,877
chasmith
Valued Contributor

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!

I'm not sure Discover IT Card is BK friendly.

 

My filing was 8/2009 with discharge 11/2009.  I applied in May 2013 and was declined for BK, I didn't seek a recon. 

 

I did discharge significant debt with Discover, so YMMV.

BK7 Filed 8/11/2009 Discharged 11/23/2009. Purchased new home 4/11/2012
Starting Score:11/16/2009 EQ 566 11/16/2009 TU 538
Interim Score: 12/27/2012 EQ 683 09/17/2012 EX (lender) 670 1/01/2013 TU 701
Current Score: 11/06/2013 EQ 708 11/06/2013 EX 702 11/16/2013 702 11/06/2013 TU 729
Goal Score: EQ 740 EX 740 TU 740
Take the FICO Fitness Challenge
Message 114 of 1,877
SoulMaster
Established Contributor

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!


@chasmith wrote:

I'm not sure Discover IT Card is BK friendly.

 

My filing was 8/2009 with discharge 11/2009.  I applied in May 2013 and was declined for BK, I didn't seek a recon. 

 

I did discharge significant debt with Discover, so YMMV.


This is why.  You're blacklisted internally for awhile (though you may have been able to pull off a recon).

 

Disco is most definitely BK friendly 1yr post filing, but only if you didn't include them in BK and have perfect post-BK history.

 

-SM

 

I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of Late January 2016 All 700+. Last CR pull from a lender(housing) was mid-score 749.
Goal Score: 700+ - reached.
Message 115 of 1,877
grassfeeder
Frequent Contributor

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!

who did Discover pull?  EQ?  Should I wait till I break 660 to apply or do you think I'd be OK with perfect history and at 640ish?

Fico 8 Scores 5/1/22 :
799 EQ | 793 TU | 809 EX
Message 116 of 1,877
Scupra
Super Contributor

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!


@SoulMaster wrote:

@chasmith wrote:

I'm not sure Discover IT Card is BK friendly.

 

My filing was 8/2009 with discharge 11/2009.  I applied in May 2013 and was declined for BK, I didn't seek a recon. 

 

I did discharge significant debt with Discover, so YMMV.


This is why.  You're blacklisted internally for awhile (though you may have been able to pull off a recon).

 

Disco is most definitely BK friendly 1yr post filing, but only if you didn't include them in BK and have perfect post-BK history.

 

-SM

 


Resist.....the.....urge.....to go to discover.com and apply.....resist! hahahaha Thank you once again for sharing your sucess with Discover. I think I am just scared of denial! Smiley Happy

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
801 EQ FICO 06/2022
797 TU FICO 04/2022
793 EX FICO 04/2022
$30k NFCU Platinum | $30.7k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE | AMEX Gold | NFCU Platinum #2 $19.3k | Apple $8.5k
Message 117 of 1,877
Scupra
Super Contributor

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!


@grassfeeder wrote:

who did Discover pull?  EQ? YES Should I wait till I break 660 to apply or do you think I'd be OK with perfect history and at 640ish?


And if you apply you better let us know what happens!!! Especially because our dates are identical haha.. Good luck with whatever you choose.

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
801 EQ FICO 06/2022
797 TU FICO 04/2022
793 EX FICO 04/2022
$30k NFCU Platinum | $30.7k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE | AMEX Gold | NFCU Platinum #2 $19.3k | Apple $8.5k
Message 118 of 1,877
grassfeeder
Frequent Contributor

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!


@Scupra wrote:

@grassfeeder wrote:

who did Discover pull?  EQ? YES Should I wait till I break 660 to apply or do you think I'd be OK with perfect history and at 640ish?


And if you apply you better let us know what happens!!! Especially because our dates are identical haha.. Good luck with whatever you choose.


Seriously....you're like my BK twin....I'm going to hold off on apping right now.  I want about 3 more months of NFCU history PIF on higher monthly balances and then CLI with them and try and get $10k - that should look better with Discover I'd think.  We're probably looking November'ish

Fico 8 Scores 5/1/22 :
799 EQ | 793 TU | 809 EX
Message 119 of 1,877
SoulMaster
Established Contributor

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!

Disco = EQ for me, too.

 

-SM

I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of Late January 2016 All 700+. Last CR pull from a lender(housing) was mid-score 749.
Goal Score: 700+ - reached.
Message 120 of 1,877
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