Zero approvals almost 2 years post bk

[Anonymous]

I’ve been discharged for over a year now and had zero luck rebuilding.. The financial institutions here on island aren’t friendly at all to BK filers. I’ve only got a secured cc of $500 & secured loan of $1000 which is barely helping my score.

[tnvols]

What island are you referring to?  I was discharged from Chp 13 on Oct 30 and was approved for a Cap One QuicksilverOne a week later.  Are your reports clean and updated with the discharge?  Do you still have collections or any negatives reporting?  Something is definitely wrong unless you have gone crazy with inquiries to banks you aren't ready for yet.   What are your FICO scores?  What is your utilization and payment history on your secured card and what card is it?

[ResponsibleWithCredit]

I had luck with First Premier Bank within a few months of discharge, maybe you could give their unsecured a try. I was approved for Milestone and Credit One about 10 months post discharge. (After being denied by Credit One a few months earlier.) I also used the shopping cart trick (do a search for instructions) and got a store card with no credit pull (but which reports to credit bureaus.) Those may be other options for you.

[Scupra]

What lenders have you submitted apps to?

[Anonymous]

Have you try Capital One? 

[Anonymous]

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@Anonymous wrote:
I’ve been discharged for over a year now and had zero luck rebuilding.. The financial institutions here on island aren’t friendly at all to BK filers. I’ve only got a secured cc of $500 & secured loan of $1000 which is barely helping my score.

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First of all, congrats on the discharge and a big welcome to the myFico forums. You are in the right place!

The more info you can share with us the more information we can share with you.

I'll be watching for your updates and I look forward to following your future rebuild!

Chapter 7: Discharged November 2015
Total Revolving Credit Lines 1 month post discharge: $2600
Total Revolving Credit Lines 1 Year post discharge (Nov. '16): $86K, Total with installment loans: $174K
Total Revolving Credit Lines 23 months post discharge (Oct '17): $196K, Total with installment loans: $338K
11/15 Fico 8: EQ-585, TU-550, EX- 551
01/17 Fico 8: EQ-695, TU-703, EX-673
09/17 Fico 8: EQ-695, TU-692, EX-683
Inquires: Next subject please

[msvee32]

BK 2013 - I cleaned my credit report to the point I do not have any credit so I had to start from scratch! I started with:

1. First Premier Bank - 1 year, 2 cards both $700.00 CL (had these removed from Credit report 11/2017)

2. Capital One Platinum - 8 months - $300 CL. A link was provide on this forum for Capital One upgrades. I used the link and I was able to  upgrade this card to a Quicksilver cash rewards card 11/2017.  Due for a CLI Jan 2018

3. Barclay - 1 month - $1000 CL

[Anonymous]

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@msvee32 wrote:

BK 2013 - I cleaned my credit report to the point I do not have any credit so I had to start from scratch! I started with:

1. First Premier Bank - 1 year, 2 cards both $700.00 CL (had these removed from Credit report 11/2017)

2. Capital One Platinum - 8 months - $300 CL. A link was provide on this forum for Capital One upgrades. I used the link and I was able to  upgrade this card to a Quicksilver cash rewards card 11/2017.  Due for a CLI Jan 2018

3. Barclay - 1 month - $1000 CL

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@msvee, do you have an installment loan (like a Share Secure or auto) in you portfolio?  How are your scores looking now? Not to hijack this away from the OP, but it looks like you may be a good candidate for a Discover card at this point. Congrats on the rebuild progress...nice work!!

[msvee32]

@WadeDalton 

Thank you! I have an auto loan with CPS - 8 months old. EX 662/TU 652/EQ 577. I have applied for several cc recently My inquiries for TU 12/EX 8/EQ 5. My EQ report still has 4 disputes pending so I cannot use them. I am kind of nervous to apply since BOA and AMEX turned me down

[pizza1]

Hi OP!

1. What are your current FICO scores?
2. What cards/ lenders did you burn in your BK? (example...chase, Citi, pottery barn etc...)
3. If you're applying to lenders that are known to NOT BE BK FRIENDLY like AMEX, CHASE, CITI (legacy), US BANK etccc. so SOON after your DC...then, yes, you won't be approved period. Those lenders want 5yrs post DC, and if your burned them in your BK, then thats another story.
4. We can't help you or offer advice if you can't provide a few basic facts...Answer those questions first, and then we can go from there.
5. You have a secured card and a secured loan, thats a great start! offer up some more facts, and we can go from there
6. Also, make sure your actual reports are reporting correctly...accts $0bal/IIB, etc....