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Frequent Contributor
Posts: 401
Registered: ‎03-01-2012
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Re: BS


Chilli wrote:

According to the plan, 12-13 months for Discover It and Barclays Card. Why are you waiting 24 months? Did you previously apply according to the timeframe listed in the plan?


24 months is my own thing....as you can see i've been successful gaining solid credit lines and I want to make sure I'm at least 6 momnths clear of any past apps for credit.

Filed BK7: 7/12 (discharge 10/12) 5/12- EQ FICO - 508 / TU FICO - 490
EQ FICO: 677 (02/15)
TU FICO: 651 (02/15)
EX FICO: 671 (02/15)
NFCU cashRewards $18k - NFCU Flagship Visa $18k - First Tech C.U. Cash Rewards $5k - Cap1 Venture - $10k - Barclays Apple Card $2k - Discover $1,000 - JCrew $4650
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Registered: ‎02-08-2014
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Re: BS

@grassfeeder

 

Yes, you did well...how long did it take you to obtain your cl with nfcu? did you start out at a lower limit...? If so, what is the process?

Starting score: 530 - Chapter 13 Discharged 1/2014
11/2014 - Fico Scores: TU 750, EQ 700, Ex 722
01/2015 - Fico Scores: TU 719, EQ 678, EX 690
02/2015 - Fico Scores: TU 719, EQ 672, Ex 713
Valued Contributor
Posts: 2,073
Registered: ‎07-12-2012
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Re: BS

+1 grassfeeder! I agree and am doing the same

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
721 EQ FICO 04/2015
720 TU FICO 04/2015
728 EX FICO 04/2015
$14k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $9k Barclay Arrival WEMC | $5.4k Cap1 Quicksilver | $6k Amazon Store | $10k Cap1 VentureOne | $5k Barclay US Airways | $500 Chase Freedom
Frequent Contributor
Posts: 335
Registered: ‎04-01-2013
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Re: BS

Just got approved for my credit one card. Now I gotta find a CU that offers credit builder loans. 

EX FICO - 526 9/24/14 TU FICO - 555 9/25/14 EQ FICO - 625 9/26/14
BK Discharged 7/7/14

Credit One $300 $500 --- Capital One Quicksilver $300
Comenity/Motorola Credit $1,500 --- Comenity/JCrew $750 $950
Comenity/Sportsmans Guide Visa $2500
Frequent Contributor
Posts: 401
Registered: ‎03-01-2012
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Re: HOW TO: From BK7 discharge to 700 in 24 months or less!

@Chilli

It took me a matter of months to obtain the CL's with NFCU. I started at $5000k on the cash rewards - bumped it to $18k and then split $8k of that off into the Flagship card.

Mind you I have a solid income, $100k+, self employed with almost zero debt now.

I started with 2 secured cards, local CU @ Capital One and then obtained unsecured lines.

Please keep in mind that every situation is unique and that just cause NFCU may not hand out $20k in credit that something is wrong - follow this plan, it works
Filed BK7: 7/12 (discharge 10/12) 5/12- EQ FICO - 508 / TU FICO - 490
EQ FICO: 677 (02/15)
TU FICO: 651 (02/15)
EX FICO: 671 (02/15)
NFCU cashRewards $18k - NFCU Flagship Visa $18k - First Tech C.U. Cash Rewards $5k - Cap1 Venture - $10k - Barclays Apple Card $2k - Discover $1,000 - JCrew $4650
Regular Contributor
Posts: 230
Registered: ‎04-08-2008
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Re: BS


pizza1 wrote:
I wouldn't apply for discover till 2 yrs post discharge. Barclays wants to see a minimum of 6 months of payments with someone else first before they will approve. Don't waste your time or HP on discover till your scores are high 600's or higher.

 

I would have to agree. Upon reading various forums, usually it's 2-3 years before they are approved for Discover with a bankruptcy.

 

 

 

 

starting EQ FICO : 526 current EQ FICO : 640 starting TU FICO: 538 current TU FICO : 656

My wallet: Capital One cash rewards $1,300- ~ NFCU signature cash rewards $5,000- ~ NFCU nRewards $5,000- ~ NFCU LOC $1,000- ~ Target $200- ~ Kohl's $300- ~ Walmart $800- ~ Amazon $900- ~ Updated 6/2013

Discharged Ch7 Nov.16, 2012

Valued Contributor
Posts: 2,073
Registered: ‎07-12-2012
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Re: BS


scarzy wrote:

pizza1 wrote:
I wouldn't apply for discover till 2 yrs post discharge. Barclays wants to see a minimum of 6 months of payments with someone else first before they will approve. Don't waste your time or HP on discover till your scores are high 600's or higher.

 

I would have to agree. Upon reading various forums, usually it's 2-3 years before they are approved for Discover with a bankruptcy.

 

 

 

 


2 years is just playing it safer. I do not doubt that multiple people have been approved in under two years though :smileyhappy:

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
721 EQ FICO 04/2015
720 TU FICO 04/2015
728 EX FICO 04/2015
$14k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $9k Barclay Arrival WEMC | $5.4k Cap1 Quicksilver | $6k Amazon Store | $10k Cap1 VentureOne | $5k Barclay US Airways | $500 Chase Freedom
Frequent Contributor
Posts: 401
Registered: ‎03-01-2012
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Re: HOW TO: From BK7 discharge to 700 in 24 months or less!

another example of how following this plan helps. I purchased a used '09 BMW 335 only 3 months outta discharge - granted 50% cash down through Wells Fargo at 10.99%. I refi'd through NFCU after 9 months for 7.99%. I traded that car in for a '11 335 with clear equity and BMW approved me for 0.9% - follow the plan - it works.
Filed BK7: 7/12 (discharge 10/12) 5/12- EQ FICO - 508 / TU FICO - 490
EQ FICO: 677 (02/15)
TU FICO: 651 (02/15)
EX FICO: 671 (02/15)
NFCU cashRewards $18k - NFCU Flagship Visa $18k - First Tech C.U. Cash Rewards $5k - Cap1 Venture - $10k - Barclays Apple Card $2k - Discover $1,000 - JCrew $4650
New Member
Posts: 5
Registered: ‎07-15-2014
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Re: HOW TO: From BK7 discharge to 700 in 24 months or less!

Great information thank you!

 

Now here is my question- My husband and I were discharged 4/28/2014 so we are pretty fresh still. We have/had been receiving pre approvals from Capital One almost immediately after discharge. So we decided to give it a shot. We were approved for $1000.00! What in your opinion should be out next step? We make 90,000+ a year which is why I think we were able to get such a high limit right out of BK.

 

I have been to a credit union that has a credit builder type loan I believe they called it a shared secure loan. We would deposit $1200. into an account and they "lend us back $1200. at 2% interest for 12 months. So monthly payment would be $102.00

 

thank you in advance

Member
Posts: 11
Registered: ‎10-19-2009
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Re: HOW TO: From BK7 discharge to 700 in 24 months or less!

[ Edited ]

Thank you so much for this!!!

Filed BK7: 05/05/14 Discharged: 08/25/14
FICO Scores 09/16/14: EQ 566
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