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New Contributor
MzCharming
Posts: 50
Registered: ‎08-16-2012
0

Kinda Bummed...:(

Hello All,

 

Went today after working dilligently to submit all information to the CRA to apply for my first CC. First Premier... The app said that some information could not be verified... Does anyone know what that means? I was super excited to get a card... ANY CARD after this fiasco and start using it and building some type of positive history. Now, I am in the dumps about it and wondering if CH.7 was the best thing and where to start with the credit rebuild process. I want to get something reporting to show that I am getting some positive history going. Sigh. I don't want to hat 450-500 credit scores forever.  Can anyone point me in the right direction?

 

 

Thanks 

ANW



Where I Started: TU: 492 EQ: 411 EX: 486
Where I Am: TU:553 EQ: 550, EX 563
Wallet: NFCU: 1000 (secured), Express (store): 250, Verve 500
New Member
Gabbman
Posts: 2
Registered: ‎08-13-2012
0

Re: Kinda Bummed...:(

first thing .. Dont be bummed. Its a road that many have travelled. First read as many of the posts here as you can. There is tons of good info. Secong the want to verify that you are who you say you are. This is nothing to worry about give them a call and answer the id questions. stay positive. try cap one as many of us have used for our first post bk card . they have a credit steps program. read the post tons of good info that has helped me rebuild  to a 625 equifax and a 680 fico in less than a year. Its possible


Starting Score: 625
Current Score: 680
Goal Score: 720


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Regular Contributor
Comet21
Posts: 204
Registered: ‎08-29-2007
0

Re: Kinda Bummed...:(

I agree, I would not be bummed out. You are going to get rejections, but this does not sound like a rejection. Credit One told me the same thing but I was able to provide them with the information and I was approved for a card with a $500 Limit. Your scores will go up, just pay on time and follow the advice given on this board.


Starting Score: TU 477 EQ 533 BK 1/27/2012
Current Score: EX 702 TU 681 EQ 652 1/10/2014
Goal Score: 700


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New Member
VegasTeo702
Posts: 8
Registered: ‎08-09-2012
0

Re: Kinda Bummed...:(

Try Creditone and Merrick Bank. They approved me right after BK. Aside from them, I cannot get any other loans. Not even auto so expect a serious uphill battle obtaining any credit.

My list of non BK friendly auto loan lenders: Ford,Toyota,Nissan,Kia,Chase,Santander/roadloans,Americredit,Wells Fargo,BofA,Orange co Credit union,TD auto

Valued Contributor
Rhaeny
Posts: 1,507
Registered: ‎07-24-2011
0

Re: Kinda Bummed...:(


VegasTeo702 wrote:

Try Creditone and Merrick Bank. They approved me right after BK. Aside from them, I cannot get any other loans. Not even auto so expect a serious uphill battle obtaining any credit.


What are your scores now?  What is your utilization?  When were you discharged?  Have you done any cleanup on your reports?  I have heard this so many times that I am just curious as to where you stand right now.  It may be that something is just not reporting correctly and keeping your scores down.  


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
New Contributor
Trons
Posts: 69
Registered: ‎08-28-2012
0

Re: Kinda Bummed...:(

BTDT.  I was denied a secured CC a year after my BK7.  I didn't know that companies had different criteria, so I thought if one denied me, they all would.  I waited another year and finally started (almost 2 years) getting preapproved offers with high IRs and AFs.  That got me a positive history started, but had I found this site sooner, I'd be 2 years ahead of where I am now...Another lesson learned.

 

Don't let it get you down, view it as a challenge.

Starting: EQ 590 (LP 8/12) TU 589 (LP 8/12) EX 612 (LP 8/12)
Current: EQ 650(LP 9/12/12) TU 667 (LP 9/12/12) EX 676 (LP 9/12/12)
Goal: 620 (for VA Mortgage)
Goal Reached. Pre-qualified for VA loan, 9/12/12

My Jeep is like my wife. Cleans up nice, but a lot more fun when she's dirty.
Member
powellfamily2009
Posts: 15
Registered: ‎09-08-2012
0

Re: Kinda Bummed...:(

Read my signature......

All of these CC's I've gotten within the last 12-16 months and am currently in the 24th month of a  60 month Ch 13 plan. Now because of the BK, my DTI ratio is now VERY good as I have gone through and disputed my credit files to ensure all of the trade lines are reporting correctly; i.e. everything in Ch 13 and no active balances.  That made a huge difference for me. Still have a little ways to go on my Experian file, but Ill get there. All told I have $2100 AC on all 4 cards and I never use more than $400, which is paid in full every month. Sounds to me like you need to start working on your credit files to make sure they are as squeaky clean as possible. Good luck to you.....

Trans FICO = 660 (01/6/2013) Equifax FICO = 654 (01/6/2013) Experian PLUS = 656 (1/6/2013)
Wallet = AMEX Prepaid with $300 every 2 weeks deposited, Cap One (Formerly Orchard Bank) $500 CL in SOCK-DRAWER, Credit One Bank Visa $1000 CL in SOCK_DRAWER, Discover Matrix $300 CL in SOCK_DRAWER, Fingerhut Charge Account $300 CL in SOCK_DRAWER, and Barclaycard MC with $1300 CL
Goal.....To break 750-775 by the end of 2013
DId not reach my 2012 Goal of 700... :-((
Member
powellfamily2009
Posts: 15
Registered: ‎09-08-2012
0

Re: Kinda Bummed...:(

BTW.... I forgot to say keep your head up. This is most definitley a turtles race and is one that the hare will not win. The hardest thing for me is not rushing. If I let the old me win, I would be filling out app after app, day after day; until there were so many inq's on my report there wouldn't room for anything else. I fight that urge on a constant basis. Make sure your files are clean and the rest will follow. Also, even though Orchard Bank was bought by Cap One, their site is still up and taking apps. Try them and see what happens. They gave me a $300 CL literally 4 months after filing my Ch 13. I don't care how high their fees are. Iwill be a LOYAL customer for life because they took a chance on me.....

Trans FICO = 660 (01/6/2013) Equifax FICO = 654 (01/6/2013) Experian PLUS = 656 (1/6/2013)
Wallet = AMEX Prepaid with $300 every 2 weeks deposited, Cap One (Formerly Orchard Bank) $500 CL in SOCK-DRAWER, Credit One Bank Visa $1000 CL in SOCK_DRAWER, Discover Matrix $300 CL in SOCK_DRAWER, Fingerhut Charge Account $300 CL in SOCK_DRAWER, and Barclaycard MC with $1300 CL
Goal.....To break 750-775 by the end of 2013
DId not reach my 2012 Goal of 700... :-((
Valued Contributor
Rhaeny
Posts: 1,507
Registered: ‎07-24-2011
0

Re: Kinda Bummed...:(


powellfamily2009 wrote:

Read my signature......

All of these CC's I've gotten within the last 12-16 months and am currently in the 24th month of a  60 month Ch 13 plan. Now because of the BK, my DTI ratio is now VERY good as I have gone through and disputed my credit files to ensure all of the trade lines are reporting correctly; i.e. everything in Ch 13 and no active balances.  That made a huge difference for me. Still have a little ways to go on my Experian file, but Ill get there. All told I have $2100 AC on all 4 cards and I never use more than $400, which is paid in full every month. Sounds to me like you need to start working on your credit files to make sure they are as squeaky clean as possible. Good luck to you.....


What is the AMEX prepaid card and what are the qualifications?  Does it report to all 3 CRA's?  I bk'd Cap One so I don't think that I will get that one back anytime soon.  I have credit one for $500 and a store credit card from The Avenue for $150 but since I haven't gotten my discharge papers.....which should be very soon I haven't really been trying to hard for rebuilding.  I had a long 60 plus months Ch 13 and am so glad to be done with it.


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Valued Contributor
Rhaeny
Posts: 1,507
Registered: ‎07-24-2011
0

Re: Kinda Bummed...:(


powellfamily2009 wrote:

 Also, even though Orchard Bank was bought by Cap One, their site is still up and taking apps. Try them and see what happens. They gave me a $300 CL literally 4 months after filing my Ch 13. I don't care how high their fees are. Iwill be a LOYAL customer for life because they took a chance on me.....


Do you have a link for that?


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014

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