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

[Anonymous]

Oim having a very difficult time following this plan. I'm 1 month post d/c. I burned capital one and credit one. In having a hard time getting approved for a unsecured cc. So far the only cards I've been approved for is a Torrid and New York & Co. Store card. Please help. I have scorewatch for Equifax. As of today that shows my score as 553.

[KDKobes]

Im sure others will chime in as this is my first comment but I know for sure this;

Credit One Bank

First Premier Bank

Capital One Secured Card

Discover offers a Secured card if your a student and don't qualify for the It card.(apply for student card to get this option on denial)

OpenSky Secured

Total Visa Secured Cards

Unity Secured Cards

First Progress Secured Cards

Surge Mastercard Credit Card

*Jared's & Kay Jewelers are really easy to get credit through.

I have heard Macy's is easier to get a store card.(dont quote me)

I'm sure one of these mentioned above would give you atleast a Secured card. Surge Mastercard should approve at an unsecured level but is more expensive than any other card that I know of when it comes to annual fee.

I can also say Barclaycard is B/K friendly but want to see a min. of 3 months history for approval according to the rep I talked to.

Also if its really that bad you can always go and apply for a "Credit Builder Loan" most credit unions and some banks offer this. For instance DCCU out of Denver has one where they give you a 1yr loan for $1000 and then they put it in an interest bearing account that you can't access. You pay the set amount every month over the year until the $1000 that they loaned you is paid back. Once the loan is paid they give you the $1000 that they had originally loaned you and put into the account ALONG with the interest earned.

A local bank also has an option where you bring in $1000, they give you $1000 in a loan and it works that way. THIS WAY IS pointless....avoid this and find a credit union that will go the above option.

**I would also like to add that the idea of adding a Discover at 6 months is completely ridiculous. So if you have tried this don't get down. Discover themselves will tell you it is BANK POLICY that 24 months is the REQUIREMENT** the only way around this is if your a student and apply for the student card, get denied, then get the SECURED card.

[cem13]

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@Anonymous wrote:
Oim having a very difficult time following this plan. I'm 1 month post d/c. I burned capital one and credit one. In having a hard time getting approved for a unsecured cc. So far the only cards I've been approved for is a Torrid and New York & Co. Store card. Please help. I have scorewatch for Equifax. As of today that shows my score as 553.

---

@let me say this; you will be fine.   BK7 is a horribly emotional process.  I almost threw up the day of my creditor's meeting because I was so nervous.  Now after 4 years, it is the 4th most important financial decision I made.  Education is #1 obviously, home purchase #2, Purchasing Apple Stock @ $50 #3.

The important aspect of any rebuild is to have a few cards report to the CRA every month.  Capital One is known for forgiveness but you will have to show responsible behavior until then.  Most people, but certainly not all, file BK7 for irresponsible spending.  The CC Companies do not know your story when you apply.  All they see is BK7 Discharge. 

You may have good luck with a recon if you have extenuating circumstances for your BK7.  I was denied a CC by NASA Credit Union but I reconned and told them a story about my BK7.  I told them the truth: 1) Lost my $100K job, 2) Divorce, 3) Medical issues related to stress, 4) My beer got warm, 5) My dog ran away, 6) My truck wouldnt start, and 7) my toilet clogged and total replacement was needed.  I was approved within 1 hour of sending the email.  All of these factors was documented (except for the beer getting warm but it was the truth nonetheless).  I offered to send them proof of each factor but they approved me without the documentation.

As far as Capital One is concerned, some on here have luck 6 months after d/c while others had to wait a year.  Store cards are great for rebuilding as long as they report to the CRA.  You should consider a store card from a merchant that you would actually buy from.  Use it every month and allow a small balance (~$50) to report every month.  Before you know it, you will be getting lines of $25K.  Remember, it is a marathon; not a sprint.  After my D/C, I was hyper focused on my score.   I would get a single point increse in my score and I would be disapointed.

Here is what I should have done: 1) applied for a few cards 2) froze my reports 3) then not check my score for one year.   So you may want to put together a 2 year plan and STICK TO IT.   Stay in the garden and allow your score to rise; slowly but surely.  You will not see 20 point gains overnight but your score will improve over time.  I went from 550 to 700 in less than 2 years.  I have since received a re-fi mortgage and ~$120K in credit cards.  Now I dont care what my score is because I do not need any more credit; save a car loan next year.

Good luck and keep us informed.

[Anonymous]

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@KDKobes wrote:

Im sure others will chime in as this is my first comment but I know for sure this;

Credit One Bank

First Premier Bank

Capital One Secured Card

Discover offers a Secured card if your a student and don't qualify for the It card.(apply for student card to get this option on denial)

OpenSky Secured

Total Visa Secured Cards

Unity Secured Cards

First Progress Secured Cards

Surge Mastercard Credit Card

*Jared's & Kay Jewelers are really easy to get credit through.

I have heard Macy's is easier to get a store card.(dont quote me)

I'm sure one of these mentioned above would give you atleast a Secured card. Surge Mastercard should approve at an unsecured level but is more expensive than any other card that I know of when it comes to annual fee.

I can also say Barclaycard is B/K friendly but want to see a min. of 3 months history for approval according to the rep I talked to.

Also if its really that bad you can always go and apply for a "Credit Builder Loan" most credit unions and some banks offer this. For instance DCCU out of Denver has one where they give you a 1yr loan for $1000 and then they put it in an interest bearing account that you can't access. You pay the set amount every month over the year until the $1000 that they loaned you is paid back. Once the loan is paid they give you the $1000 that they had originally loaned you and put into the account ALONG with the interest earned.

A local bank also has an option where you bring in $1000, they give you $1000 in a loan and it works that way. THIS WAY IS pointless....avoid this and find a credit union that will go the above option.

**I would also like to add that the idea of adding a Discover at 6 months is completely ridiculous. So if you have tried this don't get down. Discover themselves will tell you it is BANK POLICY that 24 months is the REQUIREMENT** the only way around this is if your a student and apply for the student card, get denied, then get the SECURED card.

---

The ones I've talked to say they want to see at least 6 months history with another card first.  Some may get in at 3 months but I think that is more the exception than the rule.

[Scupra]

---

@KDKobes wrote:

Im sure others will chime in as this is my first comment but I know for sure this;

Credit One Bank

First Premier Bank

Capital One Secured Card

Discover offers a Secured card if your a student and don't qualify for the It card.(apply for student card to get this option on denial)

OpenSky Secured

Total Visa Secured Cards

Unity Secured Cards

First Progress Secured Cards

Surge Mastercard Credit Card

*Jared's & Kay Jewelers are really easy to get credit through.

I have heard Macy's is easier to get a store card.(dont quote me)

I'm sure one of these mentioned above would give you atleast a Secured card. Surge Mastercard should approve at an unsecured level but is more expensive than any other card that I know of when it comes to annual fee.

I can also say Barclaycard is B/K friendly but want to see a min. of 3 months history for approval according to the rep I talked to.

Also if its really that bad you can always go and apply for a "Credit Builder Loan" most credit unions and some banks offer this. For instance DCCU out of Denver has one where they give you a 1yr loan for $1000 and then they put it in an interest bearing account that you can't access. You pay the set amount every month over the year until the $1000 that they loaned you is paid back. Once the loan is paid they give you the $1000 that they had originally loaned you and put into the account ALONG with the interest earned.

A local bank also has an option where you bring in $1000, they give you $1000 in a loan and it works that way. THIS WAY IS pointless....avoid this and find a credit union that will go the above option.

**I would also like to add that the idea of adding a Discover at 6 months is completely ridiculous. So if you have tried this don't get down. Discover themselves will tell you it is BANK POLICY that 24 months is the REQUIREMENT** the only way around this is if your a student and apply for the student card, get denied, then get the SECURED card.

---

PLENTY of approvals now to disprove this.. 

[CH-7-Mission-Accomplished]

---

@Scupra wrote:

---

@KDKobes wrote:

Im sure others will chime in as this is my first comment but I know for sure this;

Credit One Bank

First Premier Bank

Capital One Secured Card

Discover offers a Secured card if your a student and don't qualify for the It card.(apply for student card to get this option on denial)

OpenSky Secured

Total Visa Secured Cards

Unity Secured Cards

First Progress Secured Cards

Surge Mastercard Credit Card

*Jared's & Kay Jewelers are really easy to get credit through.

I have heard Macy's is easier to get a store card.(dont quote me)

I'm sure one of these mentioned above would give you atleast a Secured card. Surge Mastercard should approve at an unsecured level but is more expensive than any other card that I know of when it comes to annual fee.

I can also say Barclaycard is B/K friendly but want to see a min. of 3 months history for approval according to the rep I talked to.

Also if its really that bad you can always go and apply for a "Credit Builder Loan" most credit unions and some banks offer this. For instance DCCU out of Denver has one where they give you a 1yr loan for $1000 and then they put it in an interest bearing account that you can't access. You pay the set amount every month over the year until the $1000 that they loaned you is paid back. Once the loan is paid they give you the $1000 that they had originally loaned you and put into the account ALONG with the interest earned.

A local bank also has an option where you bring in $1000, they give you $1000 in a loan and it works that way. THIS WAY IS pointless....avoid this and find a credit union that will go the above option.

**I would also like to add that the idea of adding a Discover at 6 months is completely ridiculous. So if you have tried this don't get down. Discover themselves will tell you it is BANK POLICY that 24 months is the REQUIREMENT** the only way around this is if your a student and apply for the student card, get denied, then get the SECURED card.

---

PLENTY of approvals now to disprove this.. 

---

I was declined yet again for Discover.  This time they had me call in, and I waited 10 minutes expecting to get approved for a small limit.  No dice.  They told me "24 months minimum post-discharge," however if that were a rigid rule, they wouldn't have needed to consider my application further.

So there is the reason they give you and then there is the real reason.  Hard to figure them out.

I have heard that Discover likes thin profiles.  It seems like they really want to be sure that their card is going to get used if they give you one.  But since I can't get one I can't speak to it.

I will be at 24 months post filing in August and 24 months post discharge in November.

I only want this card to get an approval from a prime lender.  I have taken two HP's from them now.  Will likely wait till 3 years post discharge to try again (if ever).

[Anonymous]

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@CH-7-Mission-Accomplished wrote:

---

@Scupra wrote:

---

@KDKobes wrote:

Im sure others will chime in as this is my first comment but I know for sure this;

Credit One Bank

First Premier Bank

Capital One Secured Card

Discover offers a Secured card if your a student and don't qualify for the It card.(apply for student card to get this option on denial)

OpenSky Secured

Total Visa Secured Cards

Unity Secured Cards

First Progress Secured Cards

Surge Mastercard Credit Card

*Jared's & Kay Jewelers are really easy to get credit through.

I have heard Macy's is easier to get a store card.(dont quote me)

I'm sure one of these mentioned above would give you atleast a Secured card. Surge Mastercard should approve at an unsecured level but is more expensive than any other card that I know of when it comes to annual fee.

I can also say Barclaycard is B/K friendly but want to see a min. of 3 months history for approval according to the rep I talked to.

Also if its really that bad you can always go and apply for a "Credit Builder Loan" most credit unions and some banks offer this. For instance DCCU out of Denver has one where they give you a 1yr loan for $1000 and then they put it in an interest bearing account that you can't access. You pay the set amount every month over the year until the $1000 that they loaned you is paid back. Once the loan is paid they give you the $1000 that they had originally loaned you and put into the account ALONG with the interest earned.

A local bank also has an option where you bring in $1000, they give you $1000 in a loan and it works that way. THIS WAY IS pointless....avoid this and find a credit union that will go the above option.

**I would also like to add that the idea of adding a Discover at 6 months is completely ridiculous. So if you have tried this don't get down. Discover themselves will tell you it is BANK POLICY that 24 months is the REQUIREMENT** the only way around this is if your a student and apply for the student card, get denied, then get the SECURED card.

---

PLENTY of approvals now to disprove this.. 

---

I was declined yet again for Discover.  This time they had me call in, and I waited 10 minutes expecting to get approved for a small limit.  No dice.  They told me "24 months minimum post-discharge," however if that were a rigid rule, they wouldn't have needed to consider my application further.

So there is the reason they give you and then there is the real reason.  Hard to figure them out.

I have heard that Discover likes thin profiles.  It seems like they really want to be sure that their card is going to get used if they give you one.  But since I can't get one I can't speak to it.

I will be at 24 months post filing in August and 24 months post discharge in November.

I only want this card to get an approval from a prime lender.  I have taken two HP's from them now.  Will likely wait till 3 years post discharge to try again (if ever).

---

I've gone back and forth with applying with Discover.  Especially since I got that not so accurate invitation from them.  I've talked myself out of it for now since my Barclay approval was a very low limit.  I need to make my way back over to the garden and wait.

[cem13]

I was denied Discover IT card 4 years post BK7 D/C.  I had them IIB though so that may be significant.

[KDKobes]

That may be so, but for the rest of us the banks rule of thumb is 24 months - bottom line thats bank policy. Although I did end up talking to someone today about my situation and it does sound like there are instances where you could get in under the 24 month period but it depends on a lot of factors.

[Scupra]

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@CH-7-Mission-Accomplished wrote:

---

@Scupra wrote:

---

@KDKobes wrote:

Im sure others will chime in as this is my first comment but I know for sure this;

Credit One Bank

First Premier Bank

Capital One Secured Card

Discover offers a Secured card if your a student and don't qualify for the It card.(apply for student card to get this option on denial)

OpenSky Secured

Total Visa Secured Cards

Unity Secured Cards

First Progress Secured Cards

Surge Mastercard Credit Card

*Jared's & Kay Jewelers are really easy to get credit through.

I have heard Macy's is easier to get a store card.(dont quote me)

I'm sure one of these mentioned above would give you atleast a Secured card. Surge Mastercard should approve at an unsecured level but is more expensive than any other card that I know of when it comes to annual fee.

I can also say Barclaycard is B/K friendly but want to see a min. of 3 months history for approval according to the rep I talked to.

Also if its really that bad you can always go and apply for a "Credit Builder Loan" most credit unions and some banks offer this. For instance DCCU out of Denver has one where they give you a 1yr loan for $1000 and then they put it in an interest bearing account that you can't access. You pay the set amount every month over the year until the $1000 that they loaned you is paid back. Once the loan is paid they give you the $1000 that they had originally loaned you and put into the account ALONG with the interest earned.

A local bank also has an option where you bring in $1000, they give you $1000 in a loan and it works that way. THIS WAY IS pointless....avoid this and find a credit union that will go the above option.

**I would also like to add that the idea of adding a Discover at 6 months is completely ridiculous. So if you have tried this don't get down. Discover themselves will tell you it is BANK POLICY that 24 months is the REQUIREMENT** the only way around this is if your a student and apply for the student card, get denied, then get the SECURED card.

---

PLENTY of approvals now to disprove this.. 

---

I was declined yet again for Discover.  This time they had me call in, and I waited 10 minutes expecting to get approved for a small limit.  No dice.  They told me "24 months minimum post-discharge," however if that were a rigid rule, they wouldn't have needed to consider my application further.

So there is the reason they give you and then there is the real reason.  Hard to figure them out.

I have heard that Discover likes thin profiles.  It seems like they really want to be sure that their card is going to get used if they give you one.  But since I can't get one I can't speak to it.

I will be at 24 months post filing in August and 24 months post discharge in November.

I only want this card to get an approval from a prime lender.  I have taken two HP's from them now.  Will likely wait till 3 years post discharge to try again (if ever).

---

I think I agree with you on this. I gave Discover one chance haha! Not biting again now no matter how many mailers they send me