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Member
flyerguy5545
Posts: 12
Registered: ‎01-29-2013

Post BK Credit Report says 685 but can only get 1 credit card

To cetch everyone up to speed I had 19 personal credit cards with 105k total limit. I had 0 balance on all cards.

 

My company failed which I personally guarenteed an business Amex and and a merchant account.

 

Thus my reason to file chapter 7 bk strictly due to business debt. No chance to pay it off.

 

I had had 3yrs of paying off all monthly balances on my personal cards every single month.

 

I had

 

Citi 3 cards (1 Shell gas) Thank you + America airlines)

USbank 3 credit cards (1 still secured) Platinum + Flex rewards)

Bank of America 2 cards (Platinum Plus + Alaska Airlines)

Chase 2 cards (Sapphire + BP visa)

Comerica

Keybank World

Barclays 2 cards (Platinum Rewards and Fronteir Airlines Rewards)

Discover Walmart

Capitol one Platinum

Cheveron Visa

 

I filed BK with a credit score of 730 in June. Dischage came in Dec 2013.

 

Today I started some credit apps and only capital one came back with anything. $2k My credit is 685 after BK and thats the worst of the top 3 reporters.

 

Tried Amazon, Barclays apple and frontier, Citi thank you.

 

Other then Amex I didnt have any other credit card on my BK

 

Anyone have any ideas on more cards. My score of 685 is pretty good after BK right?

 

 

Established Contributor
SoulMaster
Posts: 981
Registered: ‎11-08-2011

Re: Post BK Credit Report says 685 but can only get 1 credit card

[ Edited ]

Unfortunately, shooting out all those apps (And therefore taking a bunch of INQ's) just sort of hosed up your rebuild.

 

It doesn't really matter (to the banks) why you filed BK or what was included/not.  You're lumped into the same bucket as the rest of us... so, what I'd recommend is to go read the 7 to 700 guide.

 

It looks like you got approved for the CapitalOne, so I'd go get the CreditOne to put yourself back on plan.  Then you have an 11-12 mo wait before you get anything else.  In the meantime, you've got to stop apping.  The key to a successful BK rebuild is patience.

 

Cheers,

 

-SM

I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of 3/15/14 All 700+. Last CR pull from a lender(housing) was mid-score 729.
Goal Score: 700+ - reached.
Member
flyerguy5545
Posts: 12
Registered: ‎01-29-2013

Re: Post BK Credit Report says 685 but can only get 1 credit card

[ Edited ]

$2k was the Capitol One today. Where do I find the 7-700 guide?

 

What is CreditOne? Is that also by Capitol One?

 Thanks

Established Contributor
SoulMaster
Posts: 981
Registered: ‎11-08-2011

Re: Post BK Credit Report says 685 but can only get 1 credit card

[ Edited ]

Yeah, I re-read and found the CapOne (and edited my post).

 

The guide is here:

 

http://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/

 

It's been used by hundreds of people and works every time.

CreditOne is a different bank.  Link is in the guide. 

 

 

-SM

 

Fixed the link

I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of 3/15/14 All 700+. Last CR pull from a lender(housing) was mid-score 729.
Goal Score: 700+ - reached.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

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