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Established Member
Posts: 48
Registered: ‎11-30-2012
0

New Card

Hello! I am so happy to have found this forum! I have spent the last couple of hours reading like never before - there is so much great info on here!

 

I knew from an early age how important credit would be to my future and received my first CC when I was 18. By the time I was 21, I was approved for an 80/20 loan totaling $550,000 with 0 down to purchase a 3-flat. I then got into real estate and you can guess what happened when the ecomony took a ****. I ended up having to file BK but due to the wonderful legal advice from my attorney's I had stopped paying all bills for a significant period of time before I actually filed BK. This was devastating for me as I went from having the best credit of anyone I knew to having the worst. At my lowest point, I was in the low 500's.

 

So that's my sad story - here is my current situation:

 

C7BK dicharged 6/7/11

 

Current lines:

 

Re-affirmed Student Loans

Wells Fargo Auto Loan - $15k @ 10.5% on 10/26/11

1st Premier CC - 750CL 

 

TU - 679, EX - 699, EQ - 684

 

My short-term goal is to add another credit card with a decent limit to increase my available credit. Long term is to be approved for a mortgage at the minimum requirement of 2 years from discharge date (which will be June 7, 2013).  With my current income of about 50k+, which card or cards do you think I should apply for right now?

Chapter 7 Discharged 6/7/11
Sallie Mae 23k @ 4.5% (student loans) reaffirmed
First Premier 700CL opened 07/11 (CLOSED 06/14)
Wells Fargo 15k @ 10.5% opened 10/11 (auto loan)
Barclays Rewards MC 1500CL opened 12/12
Capital One Spark 2500CL opened 02/14
Discover IT 1000CL opened 03/14
As of 11/20/14 myFICO: EQ 675, TU 657, EX 684
New Member
Posts: 3
Registered: ‎06-29-2012
0

Re: New Card

check into Capital One's Cash Rewards card.....they have a pre-qualification that will not post a hard inquiry on your credit until you decide to officially reply.  Their pre-qual will tell you if they have something to offer or not......most importantly, it tells you if you won't get approved.

Established Member
Posts: 48
Registered: ‎11-30-2012
0

Re: New Card

Thanks, I actually already tried that and it said there are no cards matching my profile.

Chapter 7 Discharged 6/7/11
Sallie Mae 23k @ 4.5% (student loans) reaffirmed
First Premier 700CL opened 07/11 (CLOSED 06/14)
Wells Fargo 15k @ 10.5% opened 10/11 (auto loan)
Barclays Rewards MC 1500CL opened 12/12
Capital One Spark 2500CL opened 02/14
Discover IT 1000CL opened 03/14
As of 11/20/14 myFICO: EQ 675, TU 657, EX 684
New Member
Posts: 3
Registered: ‎06-29-2012
0

Re: New Card

that's surprising given your current credit scores......

Valued Contributor
Posts: 1,733
Registered: ‎07-12-2012
0

Re: New Card

Barclays? They seem to give pretty good limits off the back.

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
696 EQ FICO 01/2015
686 TU FICO 01/2015
678 EX FICO 01/2015
$14k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $6k Barclay Arrival WEMC | $5k Cap1 Quicksilver | $2.5k Amazon Store | $10k Cap1 VentureOne
Frequent Contributor
Posts: 398
Registered: ‎11-03-2012
0

Re: New Card

Capone-I would apply outright for one of the capital one cards-platinum or cash rewards. They will pull three reports. 

 

Consider Barclays, either the world master card or NFL rewards. I think you can get either. Will pull TU

 

Discover. You are 1 year out. I'm assuming your util is low. If you didn't burn them, you could be ready for this card.- TU I think depending on your locale. 

 

CreditOne. Wish you had this in your wallet already to boost your reporting lines, they have a soft puller. See if they pre-approve you. Will pull EX. 

 

Close First premier. (Blood suckasss)


Starting Score: 501
Current Score: 706 EQ,TU 689,EX 686
Goal Score: 720

Established Member
Posts: 48
Registered: ‎11-30-2012
0

Re: New Card

[ Edited ]

Yea the stupid FP has a monthly fee of $14.50 ugh. I just use that and the 12.95 or whatever for my credit monitoring so it stays well below 10%. I had received pre-approval offers in the mail for Cap One Plat and Barclays Rewards MC. I spoke with my broker today and decided I would app for the Barclays Rewards MC.

 

It said insufficient information and they will have to get back to me in up to 10 business days. Does that mean I got denied? I've never been denied before... Should I wait and see what happens or try calling the backdoor number?

 

Also, should I app for the Cap One before the inq hit my CR? Like literally right now?

 

 

 

BTW - I just the Credit One "pre-qualify" and this is what I got:

 

Inquiry Code: PQ01DDVHQF7Q

Thank you for your recent request for pre-qualification for a Credit One Bank credit card. Your request was carefully considered and we are unable to provide a credit card offer for you at this time.

 

Reasons for Denial of Credit
Your application was processed by a credit scoring system that assigns a numerical value to the various items of information we consider in evaluating an application. These numerical values are based upon the results of analyses of repayment histories of large numbers of customers.

 

The information you provided in your application did not score a sufficient number of points for approval of the application. The reasons you did not score well compared with other applicants were:

  • Serious delinquency and public record or collection
  • Delinquency reported on accounts
  • Insufficient time since most recent account opened
  • Ratio of loan balances to loan amounts too high

 

Information about Your Credit Score
We also obtained your credit score from this consumer reporting agency Your credit score is a number that reflects the information in your credit report. Your credit score can change, depending on how the information in your credit report changes.


Your credit score: 705
Date: 12/03/2012 
Scores range from a low of 350 to a high of 850

Key factors that adversely affected your credit score:

  • Serious delinquency and public record or collection
  • Delinquency reported on accounts
  • Insufficient time since most recent account opened
  • Ratio of loan balances to loan amounts too high

 

Chapter 7 Discharged 6/7/11
Sallie Mae 23k @ 4.5% (student loans) reaffirmed
First Premier 700CL opened 07/11 (CLOSED 06/14)
Wells Fargo 15k @ 10.5% opened 10/11 (auto loan)
Barclays Rewards MC 1500CL opened 12/12
Capital One Spark 2500CL opened 02/14
Discover IT 1000CL opened 03/14
As of 11/20/14 myFICO: EQ 675, TU 657, EX 684
Frequent Contributor
Posts: 398
Registered: ‎11-03-2012
0

Re: New Card

Your credit score is legit! I think you are clearly beyond FP, Creditone at this point. 

 

Backdoor Barclays. They will approve you. They probably want some info. 

 

I'd go for the discover, capone rewards too with that score. Might as well make a mini app-spree out of this. Your score is LEGIT!


Starting Score: 501
Current Score: 706 EQ,TU 689,EX 686
Goal Score: 720

Established Member
Posts: 48
Registered: ‎11-30-2012
0

Re: New Card

I will backdoor tmw as soon as they open. I'm hoping it's just verifying a few things - I have recently moved and my address is reported wrong so I am really hoping that has something to do with it.

 

I thought I was beyond Credit One as well but after being denied there someone suggested to do the "pre-approval" because it SP. I was shocked when that info came back...

 

I have not burned Discover so I was considering that but I just wanted to add 1 maybe 2 accts as I don't want anymore INQ with planning for a mortgage app next year.

 

Anyway, I guess I will calm down and see what Barclays tells me tmw! 

Chapter 7 Discharged 6/7/11
Sallie Mae 23k @ 4.5% (student loans) reaffirmed
First Premier 700CL opened 07/11 (CLOSED 06/14)
Wells Fargo 15k @ 10.5% opened 10/11 (auto loan)
Barclays Rewards MC 1500CL opened 12/12
Capital One Spark 2500CL opened 02/14
Discover IT 1000CL opened 03/14
As of 11/20/14 myFICO: EQ 675, TU 657, EX 684
Community Leader
Senior Contributor
Posts: 4,789
Registered: ‎03-06-2010
0

Re: New Card

[ Edited ]

IMO Barclays is far better than Credit One and I have both cards.

I had to use the backdoor number for Barclays too and they issued a very good starting limit afer the recon and have given me two CLI's since.

 

If you get the Barclays card - don't bother with Credit One. Barclay's grows. Credit One doesn't grow much at all. Naturally, if Barclays doesn't approve you, Credit One is decent to start.

 

You are probably right - the address is creating an issue with your report. Find out who is reporting your address incorrectly and have them make the change. That will help.


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