Pre-Approval Notices Flooding In

ggmorning · ‎12-14-2017

Hello all!

Just a quick question. I was discharged in July and since then have opened an OpenSky secured card, CreditOne and Merrick Bank card. Been in the garden since end of October. Over the past week I’ve been receiving pre-approvals for all the cards for bad credit (like Indigo, First Premier, etc.)

I have just been throwing them in the trash but I’m curious as to if this is a good sign since I haven’t really received many of them until now where they are coming several days a week. I’m still not pre-approved for any major credit cards. Just wondering if it’s because of the time of year that the lenders are more friendly or if this is a sign that I will be able to get some major cards soon.

Please let me know what you guys think and about your experiences. Thank you!

ggmorning · ‎12-19-2017

Anyone?

nykos5000 · ‎12-29-2017

Since it's been a few months try Discover prequal (if you didnt burn them) and Cap1 prequal even if you did burn them and it has been one year post Charge Off. I definitely would say away from the subprime CC's at that point and look to move into getting prime issuers.

BK7 08/2016 | DC 12/2016

Kb109 · ‎12-30-2017

How soon after discharge should I consider Merrick bank? I heard they are bankruptcy friendly but don't want to waste a HP if it is too soon. Thanks!

Filed Ch7: 6/21/17
Discharged: 10/03/17
Current FICO8 Scores as of 2/10/2019: EX 651, TU 678, EQ 679
My Cards: 1FBUSA $2,900 (survived BK7 and is my oldest account!), Fingerhut $1,100, CreditOne $900, Ollo Rewards $2,500, LendUp Arrow card $2,000, CapitalOne Platinum $3,000. GARDENING FOR THE NEXT TWO YEARS!

Kb109 · ‎12-30-2017

Oops, my question was to nykos since I see Merrick in your signature. But if anyone else has a Merrick card, please chime in too! Lol

Filed Ch7: 6/21/17
Discharged: 10/03/17
Current FICO8 Scores as of 2/10/2019: EX 651, TU 678, EQ 679
My Cards: 1FBUSA $2,900 (survived BK7 and is my oldest account!), Fingerhut $1,100, CreditOne $900, Ollo Rewards $2,500, LendUp Arrow card $2,000, CapitalOne Platinum $3,000. GARDENING FOR THE NEXT TWO YEARS!

nykos5000 · ‎12-30-2017

@Kb109 wrote:
How soon after discharge should I consider Merrick bank? I heard they are bankruptcy friendly but don't want to waste a HP if it is too soon. Thanks!

I actually got a preapproval offer around 5 months post D/C. I had at that point a Credit One Card for about 6 months.

BK7 08/2016 | DC 12/2016

ggmorning · ‎01-01-2018

My BK was discharged in July and I was approved for a $600 CL at the end of October. Also had CreditOne for 2 months prior to applying for Merrick, as well as being an AU on a JetBlue card with a $17,000 CL (opened Jul 2016). Not sure how much the JetBlue card helps me though.