Just got approved for a NFCU cash rewards card !!! I have had trouble getting my own card since discharge in January of this year. I actually applied for a cash rewards card last month and was denied. They offered me a secured card which I didn't jump at. Right now I am AU on Merrick and Credit One and have my own First Premier. I also applied for a nfcu line of credit and was denied. I have a low limit at $500, but I am super happy ! NFCu sent me a postcard with an acepptance code so I did some research to see if it wasa pre-approval or junk. Most posters got a card. I debated on whether or not to apply but I pulled the trigger ! BAM !! If you notice I applied on a Wednesday around noon, which is recommended in the original post.
Hubby got a pre-approval for Capital One Auto the other day. We need a car so badly. The only one we have is his old Mercedes which is sitting in the driveway with 2 busted tires and a broken tie rod. It's leaking transmission fluid. We are in negotiations (with each other) on what to do. lol
I just wanted to reiterate how helpful this post is. I filed BK and was discharged May 5, 2014. Today I had my credit pulled to get preapproved for a home and I was told that my TU score is 710!!!!!! I didn't follow the instructions exactly because I've had several medical bills incurred in the last 2 years. I can't image how much better my score would have been had I followed the instructions exactly! Thank you sooooooo much!
@Anonymous wrote:I also need a car asap. I will be discharged in a couple weeks. I've been without a car for a year. It's getting worse for me and my children with no transportation. How's it working for you with Captial One auto? I keep seeing this a lot.
You will be getting lots of vehicle loan offers in the mail. Cap 1 sent a pre-approval for a particular dealership. We didn't need a down payment but our interest rate is high. We got a 2012 car with 38k miles. That's the newest car we've ever gotten. We are happy to have reliable transportation with a warranty. The process was easy. We just told them how much we wanted to pay per month and they told us what cars would fit that amount. We went in, test drove the car, signed the papers and that was it. The only thing we needed to show was proof of income and insurance coverage.
@sarge12 wrote:Having previously filed chapter 7 in 1996, but having little equity in my house or cars, I was able to keep them. Having done without credit for years after that I just kept making all my payments on time. When the chapter 7 fell off my credit report, my credit score went up to over 800. Now I have many premium credit cards, a very low home interest rate. I pay all credit card balances every month in full. I am not advocating that people should be irresponsible and take on so much debt that they have to declare bankruptcy, but if someone has already done so, bankruptcy is sometimes the only way to ever get on the right track. When I declared, I was so over extended it was not possible to ever get out of the hole. Paying minimum payments on cards, and being forced to renew loans at finance companies to prevent going delinquent, and being unable to consolidate due to poor credit rating. I do not even believe anyone should consider new debt for at least 5 years after filing. It is often irresponsible credit behavior that causes people to file in the first place, and the time I spent without credit, and being forced to live within my means taught me how to handle credit responsibly. Now if the problem was caused by a loss of job or medical bills, then that is of course different.
This is a major difference between a lot of us. A lot of us who filed don't have a house or car to keep. So what is a fresh BK'er to do if they want to buy a house or car 2-3 years after? They can't just rely on cash for everything as they will be in for a rude awakening when they submit an app for a house.. Now, I do agree that someone shouldn't rush out to obtain a bunch of new debt and I couldn't agree more that everyone with a BK should learn a little about budgeting and taking care of their own finances - although this should really be happening in high school but that's another story 
There is no reason to wait for the card to report You are safe to obtain the loan now.