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

[Anonymous]

My 341 meeting is coming up this week and I have decided not to reaffirm my car. My Mom said she will add me as an AU to a card she barely uses. Will this help my score so I can get a new car? Will it report as long as she has had it, or only after I am added.

Also, should I wait until my meeting or after I'm discharged until I'm added to her card?

[Anonymous]

Timing should not matter in this case since you are not applying for new credit. It will probably show history from the date you are added.

[Anonymous]

Question - I applied for the Credit One card and was approved with a $500 cl.  I received notification that my DOB and SSN didn't match so I sent in copies of everything earlier this month and am waiting to hear back.  Hopefully, everything turns out.

Last night, I received in the mail an offer to apply for a First Premier card with a $700 limit (and all the miscellaneous fees).  I was about to throw it away as I'm trying to diligently stick to this plan, but if for whatever reason the Credit One verification process doesn't go through, should this First Premier card be my second choice or should I do exactly as the plan says and try for a secured card instead?

On another note, I am an AU on my BF's Discover card - which is reporting to my credit reports.  If the Credit One doesn't go through, should I just use this Discover as my first card since it's reporting and continue following these steps?

[MB2714]

@ Sportsmom77 I have three Capital One accounts and only one of them they did ID Verification as long as you sent them the documents requested they will approve it, it takes from the time it's faxed 5-7 days to process and another week to get the card, if you mailed the documents add 5-7 days to that. I would strongly discourage you from getting a First Premier. As far as Discover AU it will be of no benefit to you because the new scoring systems does not let you piggy back anymore, most want 2-4 established Tradelines after bankruptcy. Be patient Capone will let you know and establish with that for 6 months at least.

[MB2714]

Oops I just noticed you said Credit One not Capital One @SportsMom77. But still establish with Credit One for six months but I still strongly discourage First Premier

[Anonymous]

Thanks MB2714 - I sent everything via snail mail so I'm not expecting an immediate response.  In the letter they sent it said if they don't receive the docs by 08/23 they would close my account so I'm somewhat reassured as I know an account has been set up.

My gut is saying stay away from First Premier but I think I just got a little excited because it's my first "pre-approval" and it's for more than $300!!

Thanks again!

[Anonymous]

I decided to bypass the CreditOne card from things I have read about them. I was approved for a Cap One QS1 card for 1k. I am hoping my car loan with Carmax shows back up after the payment this month. I reaffirmed with them so it's supposed to right? So I have a car loan, a cap on credit card and two zero balance credit cards made it thru my chapter 7. Victoria Secret and Brylane Home. They are still open with decent limits. I haven't tried using them in over a year. Should I close them since they are store cards or attempt to use them since they are showing open? Would that set me right on track as far as a car loan, a major cc and 2 store cards?

[MissMc89]

If I already have student loans, should I still do the credit builder loan? I assume the credit builder loan is suggested so that we have an installment loan to help with our credit score. The loan won't be paid off for a good long while. Thanks in advance for any help anyone is willing to give. 

[Anonymous]

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@MissMc89 wrote:

If I already have student loans, should I still do the credit builder loan? I assume the credit builder loan is suggested so that we have an installment loan to help with our credit score. The loan won't be paid off for a good long while. Thanks in advance for any help anyone is willing to give. 

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So long as your student loans are reporting, you are good to go on the installment loan front!

(Sometimes they don't report while waiting for discharge, but they usually start up again within a month or two post discharge)

[Anonymous]

My husband has good success so far in obtaining grt apr and no af card just 2 weeks after ch 7 discharge.

His first product is Capital one auto loan of 20000 @ 6.16 % for 72 months ( will refinance ofcourse) 

Second one is Capital one platinum card with 500 cl .Both of these were obtained just two weeks after discharge. We have decided to never appy for credit one or any of the cards with AF. we are waiting for his credit report to show good payment history and numbers to jump before we apply for other cards and even refinance.

I already made him a member of penfed and nfcu. 

Now its just a waiting game for us. btw nfcu invited

him to apply for their secured card which we might do.