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

[Chilli]

Barclays

I had app'd on 2/14 and the list of reasons were similar...then I app'd in 9/14 and was declined. I called the back door...talked to an analyst over the phone. I was given a speech about how great I was doing with rebuilding but they couldn't approve me at that time and to try again a little later.

I had breakfast and coffee then tried again the same day but a little later. The 2nd analyst (a supervisor) looked over my credit report and approved me with a 2.5k CL...this past September 2014.

i know they want 6 months of positive history...so if I was you I would try again..."a little later"

Discover IT - I gave up on them but I think you can inquire about their secured card if you are declined....

By the way, if I was you, I would try to clean up my reports a little more.

Best of luck on your rebuilding.

[CH-7-Mission-Accomplished]

Can you tell me when you hit 700 on your first CRA and did you manage to get all three CRA's over 700?  How long till three hit the magic mark,if they did?  Thanks!

[Chilli]

As soon as I filed in 2013, I started cleaning up my credit report. When I was discharged in 1/ 2014, I continued...before I started applying...keeping my inquiries low...making sure my scores were a little decent before applying in 2/2014.

Mid to late 2014, my scores went up in 700 range when my CC and installment loans aged.

i made a small mistake of paying off my installment loan early...so,

12/2014, I took out a second installment loan, additional cc's and a car loan...the new inquiries and new accounts caused my scores to drop...now I'm waiting for those new accts and inquiries to age for my scores to go back up...I'm gardening for a while I continue to work on my credit reports.

I could not have done it without the guidance of this plan....I went off the plan a little  tweeking it for my situation here and there but quickly getting myself back on track with the plan....asking for help along the way.

[CH-7-Mission-Accomplished]

Oh, I just noticed you did a 13.  Those aren't as hard on your credit score as a 7.  Good job!

[Chilli]

Sorry but you a wrong.  BK's are CODED AND SCORED as a BK...the same...one do not give you a better score then the other.

the only difference is, you are in one longer then the other and there are more protections then the other.

Therefore, technically, it too me a little ess then 24 months to reach 700....from 4/2013 - 12/2014

[Taoron]

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@Chilli wrote:

the only difference is, you are in one longer then the other and there are more protections then the other.

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Which one offers more protections?  Not entirely sure what you mean but I am curious.

[tallin32]

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@Scottie2014 wrote:
Barclay no longer be friendly. Neither is discover not sure if they ever were? So that's 2 cards out from your 700 foci score plan.. What next?

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I wouldn't say that.  I ended up getting a Barclay rewards card (since I burned Cap1 and was thus on their naughty list for a year).  They approved me six months out of a Chapter 7 with a $1,500 line.

[tallin32]

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@Guyatthebeach wrote:

i plan on gardening for the next year. I don't need anymore credit card accounts. I do want to get another American Express card, a company I didn't burn.

How far out of BK were you when you got your Amex?  I sort of thought they hated bankruptcies on your file with the rage of a thousand dying stars.

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[DaveInAZ]

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@tallin32 wrote:

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@Guyatthebeach wrote:

i plan on gardening for the next year. I don't need anymore credit card accounts. I do want to get another American Express card, a company I didn't burn.

How far out of BK were you when you got your Amex?  I sort of thought they hated bankruptcies on your file with the rage of a thousand dying stars.

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I don't know the answer to your question to Guyatthebeach, but the easiest Amex card to get is the one issued by Fidelity - 2% cashback if you have it deposited into your Fidelity Cash Management account. And yeah, Amex itself is not very BK forgiving.

[Scottie2014]

In March 2014 app Barclays denied insuffient credit history. Last month tried again didn't even pull credit instant deny said that since I had bk and burned them in the past they didn't even pull my credit. All 3 credit analysts said they don't offer credit to anyone with bk. If you have a bk they will not improve no matter how good your score is.