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@Chilli wrote:
@ordnance1987 wrote:Hello everyone, it's been a while since I have been on these boards been busy with school and stuff. I have a question about step 4 in the 7-700 plan. I did the prequalifier for Capital One and it says that I do not have any offers. Next month will be my sixth month post discharge. When I try the prequalifier and if I get denied again should I still apply for the QuicksilverOne Rewards or are there suggestions for other cards instead. I got a pre approval in the mail from Barclaycard for the Barclaycard Rewards the letter says it is good until May. I currently have a CreditOne card with a $500 limit and a NFCU NRewards card with a $5500 (got them both around the same time), my starting limit was $500 and I did a CLI after three months. Should I also apply for the NFCU checking line of credit? I applied for it when I applied for the NRewards card but got denied. Thanks for any information.
I would apply for:
1. Barclays
2 Cap 1
3. On April 1 request a cli on the NFCU NREWARDS CARD ....ask for 25k and take the counter offer.
If these steps work out ....close Credit One
if you haven't already, get a secured installment loan.
Good Luck.
Hi again, sorry for the late reply. I applied to Barclays and was approved, but Capital One denied me without a hard pull so I might be blacklisted. I also applied for a CLI with NFCU and was also denied because my income is too low. Should I cancel my Credit One card or wait it out until the end of the 11th month before cancelling? Is there another option for Capital One? Do I still apply for Discover after one year? I currently have student loans, I have been reading that with student loans I do not need a secured installment loan. Thanks for the help.
@ordnance1987 wrote:
@Chilli wrote:
@ordnance1987 wrote:Hello everyone, it's been a while since I have been on these boards been busy with school and stuff. I have a question about step 4 in the 7-700 plan. I did the prequalifier for Capital One and it says that I do not have any offers. Next month will be my sixth month post discharge. When I try the prequalifier and if I get denied again should I still apply for the QuicksilverOne Rewards or are there suggestions for other cards instead. I got a pre approval in the mail from Barclaycard for the Barclaycard Rewards the letter says it is good until May. I currently have a CreditOne card with a $500 limit and a NFCU NRewards card with a $5500 (got them both around the same time), my starting limit was $500 and I did a CLI after three months. Should I also apply for the NFCU checking line of credit? I applied for it when I applied for the NRewards card but got denied. Thanks for any information.
I would apply for:
1. Barclays
2 Cap 1
3. On April 1 request a cli on the NFCU NREWARDS CARD ....ask for 25k and take the counter offer.
If these steps work out ....close Credit One
if you haven't already, get a secured installment loan.
Good Luck.
Hi again, sorry for the late reply. I applied to Barclays and was approved, but Capital One denied me without a hard pull so I might be blacklisted. I also applied for a CLI with NFCU and was also denied because my income is too low. Should I cancel my Credit One card or wait it out until the end of the 11th month before cancelling? Is there another option for Capital One? Do I still apply for Discover after one year? I currently have student loans, I have been reading that with student loans I do not need a secured installment loan. Thanks for the help.
Correct yhe student loans count as your installment loan. As far as credit one are you paying a monthly fee? Sorry not thqt familar with them I've seen that they charge monthly. If yes then if it was me I would probably go ahead and cancel. Keep trying Cap1 they will probably let you back in eventually.
@Anonymous wrote:
@ordnance1987 wrote:
@Chilli wrote:
@ordnance1987 wrote:Hello everyone, it's been a while since I have been on these boards been busy with school and stuff. I have a question about step 4 in the 7-700 plan. I did the prequalifier for Capital One and it says that I do not have any offers. Next month will be my sixth month post discharge. When I try the prequalifier and if I get denied again should I still apply for the QuicksilverOne Rewards or are there suggestions for other cards instead. I got a pre approval in the mail from Barclaycard for the Barclaycard Rewards the letter says it is good until May. I currently have a CreditOne card with a $500 limit and a NFCU NRewards card with a $5500 (got them both around the same time), my starting limit was $500 and I did a CLI after three months. Should I also apply for the NFCU checking line of credit? I applied for it when I applied for the NRewards card but got denied. Thanks for any information.
I would apply for:
1. Barclays
2 Cap 1
3. On April 1 request a cli on the NFCU NREWARDS CARD ....ask for 25k and take the counter offer.
If these steps work out ....close Credit One
if you haven't already, get a secured installment loan.
Good Luck.
Hi again, sorry for the late reply. I applied to Barclays and was approved, but Capital One denied me without a hard pull so I might be blacklisted. I also applied for a CLI with NFCU and was also denied because my income is too low. Should I cancel my Credit One card or wait it out until the end of the 11th month before cancelling? Is there another option for Capital One? Do I still apply for Discover after one year? I currently have student loans, I have been reading that with student loans I do not need a secured installment loan. Thanks for the help.Correct yhe student loans count as your installment loan. As far as credit one are you paying a monthly fee? Sorry not thqt familar with them I've seen that they charge monthly. If yes then if it was me I would probably go ahead and cancel. Keep trying Cap1 they will probably let you back in eventually.
I don't think it is a monthly fee but they do charge interest even if I pay the day the charge posts to my account. I only charge $20 a month, they charge me $1 for interest. They do have a yearly fee.
Hi. My husband and I were recently discharged from Chapter 7 BK (Discharged in April). I want to work on rebuilding our credit and am using the post as a guideline. I just pulled my credit reports to review. You said the status should read as "current" --- where will I find this status. All of mine say "Included in Bankruptcy). Also, should I pay for my credit score right now or just having the credit reports is enough at this time? Thank you.
@Anonymous wrote:Hi. My husband and I were recently discharged from Chapter 7 BK (Discharged in April). I want to work on rebuilding our credit and am using the post as a guideline. I just pulled my credit reports to review. You said the status should read as "current" --- where will I find this status. All of mine say "Included in Bankruptcy). Also, should I pay for my credit score right now or just having the credit reports is enough at this time? Thank you.
Welcome to the forum and congrats on your discharge.
Included in BK with 0 bal. is the current status. It is always a good idea to monitor not only your credit report but your score as well...This way you can see your progress as time goes on and monitor if there are any changes that do not belong on your credit report. MYfico monthly subscription is a good source to cover both.
Thank you. I have another question as all this is new to me. Status says closed on majority of the accounts (looking at Experian report) and then does give some detail saying included in BK. I'm assuming this closed status is normal and I shouldn't worry about it saying sometihng else?
Hi Everyone!
My 7 was discharged last month. This week I received a pre-approved offer from Credit One. Before I found this forum, I pretty much knew I'd need some high priced garbage credit (at least temporarily) to get started again. Approved for $1500.
Then I started researching ways to rebuild and came across this thread and to the best of my ability, read all 112 pages of it. Now I'm catching up on the first steps of the plan I unknowingly jumped past.
Scores are currently EQ - 551, TU - 508, EX - 570
It's another few months before I have a free pull on annualcreditreport.com, but I was able to access a version of my reports via the monthly myFICO subscription. Experian is accurate which may explain it being the best score. Looks like there's just a few things on EQ and TU that may need attention:
Is it possible these accounts just haven't updated yet since my discharge was only a couple of weeks ago? Do I wait and pull again in a month or so to see if they're correct?
@Anonymous wrote:Hi Everyone!
My 7 was discharged last month. This week I received a pre-approved offer from Credit One. Before I found this forum, I pretty much knew I'd need some high priced garbage credit (at least temporarily) to get started again. Approved for $1500.
Then I started researching ways to rebuild and came across this thread and to the best of my ability, read all 112 pages of it. Now I'm catching up on the first steps of the plan I unknowingly jumped past.
Scores are currently EQ - 551, TU - 508, EX - 570
It's another few months before I have a free pull on annualcreditreport.com, but I was able to access a version of my reports via the monthly myFICO subscription. Experian is accurate which may explain it being the best score. Looks like there's just a few things on EQ and TU that may need attention:
- I have two revolving accounts that are showing as charge offs on EQ and TU. The status dates listed are from BEFORE my filing. The same accounts are showing as IIB on Experian with a May status date (when my discharge occurred.)
- Basically all of the accounts on my TU report have a status of "unrated" but mention the BK in the remarks. They also have status dates prior to my discharge.
- I have a private student loan, not included in my BK (clearly) and payments made on time throughout it. It shows as IIB on EQ and closed on TU with status dates prior to my discharge.
Is it possible these accounts just haven't updated yet since my discharge was only a couple of weeks ago? Do I wait and pull again in a month or so to see if they're correct?
Hello and welcome to myFICO! Congrats on the discharge and amazing job reading up on what to do. You are far ahead of most now
It is very possible that they are late to update, I would just file some disputes to get the ball rolling. Good luck to you and let us know if you have any questions.
YEA! Discharged FINALLY.
Like “SteelerNYC” I just finished reading all 112 pages and am anxious to plant some seeds and do some gardening.
341 was in Nov. and 100% Discharge was FINALLY entered April. Does five months seem longer than the average case with no creditor challenges?
Last year my TU was 749 and went as low as 529. (12/2014) it was 578 YIKES.
The MyFico product I used to have was a TU quarterly report for only 49.00/yr. This needs to be renewed to get my current score. I’m confused as to the old products this thread suggests. Do I need a different product? Can anyone recommend a MyFico product I can rely on for the next >2 years?
Now before I enter the garden, I have obtained a few credit products out of order. In other words, I have maintained two credit cards that are in perfect standing. These are each about 2 years old and were obtained before filing.
One is a 500. secured card with a CU (reporting to all 3 CRA’s) and the other is a store card (3K limit) (only reporting to Ex) They each have a balance of about 40.00 respectively.
So with that said- I already have two credit lines and I think I am ready to apply for a few more strategic credit products now that Ive reached the 5-month mark.
Based on a detailed review of this thread and knowing I already have 2 credit productis, Do you think I should apply for an (un-secured) CreditOne or Cap1 card and then try and get a $1000/1yr Credit Builder loan at the Navy Federal Credit Union?
THANK YOU in advance for any guidance!
Filed BK7: 1/2014 (start score TU 749) Everything Discharged 4/2015
578 TU FICO 12/2014
$500 Secured card w/ CU | $3,000 UnSecured Fry’s First Electronic Bank