when can i get a prime cards after BK 7

[bk510]

hello all. need some advice on when can i apply for a prime cards  after bk7

file for bk7 on 3/12 and discharged on 6/12....dont no wat my score was at the time.

things i have are......

cap1 secured card 11/12....200 limit

cap1 unsecuerd platinum 12/12.....500 limit

target redacrd 4/13.....200 limit

sony card visa 4/13....500 limit

some things i like to no....

given dat secured card dont grow wit u and no cli....should i close it? or is it 2 early?

personally, i like to close it and apply for cap1 cash reward card for an average credit, that because u can only have 2 cap1 cards at a time,(i need advice on this please).

sony card dont count as 2 cards cz its a branded card and they dont count as being 2....

one thing that im kind a nervous bout is that... perhaps i have opened 2 many cap1 cards thats going to perhaps hinder me from applying and getting prime card which is my goal and i have read somewhere that potential lenders dont like seeing cap1 as my tradeline on credit report ....Is this because thay r a sup prime lender?

and finally should i consider having a share secured loan from my credit union and will dat help improve my credit?

i have 12 inquires on EX, 11 EQ and 11 on TU......not all from 2013.

I also burned chase,barclay, ge, and citi i think.....what r my chances with them again?

thanks folks

[llecs]

Your credit is very young. I wouldn't apply for any new credit for a couple of years to let what you have age. If you apply now you might get ahold of a prime CC with some luck but also denied quite a bit, but you'll always be stuck with these lower limits. If you let what you have age and let the BK age, then you'll see a greater chance of being approved w/ higher limits because you'll have a higher score.

IMO, keep your secured card open. Let it age. And once you get a card you like, then you can close it. I started with a couple of secured cards and worked out really well.

CapOne isn't a very good CC company, IMO. I'd avoid them in the future.

I had a CapOne CC reporting and still got approved for cards like Amex, Discover, Wells Fargo, PNC, etc. I don't think it'll hinder you if it reports.

IMO, nix the loan idea. Installment loans play only a tiny part in FICO scoring.

Not sure on the chances on your burned CCs. YMMV on the lender.

[starry1]

What's the Sony card?

[bk510]

Thank u for valuble advice...LLecs.

yes i have heard that cap1 isnt such a great bank to deal with, but they gave a a 2nd chance so i'm grateful.

On a side note, today their website is down and found out that its been down all day today and some people even hinted that they might have been HACKED ....again,

oh well, lol

[bk510]

Sony card is a co-branded card which i understand that cap1 have bought from chase i think....

it a no AF and a rewards card for sony product that u can redeem....u also get 5.000 sigu up bonus.

i got approved for 500 with 631 score

[b_seeker]

I just wanted to point out from your locked thread that you said your scores are all 638. Just note those are not FICO scores and are Experian PLUS scores which may not be accurate at all. I find the more baddies on your report, the farther off the PLUS scores tend to be from your actual FICO. You might want to pull a score from here to see where you stand. Actual FICO scores will rarely match exactly across all three bureaus.

[soldierpr]

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@bk510 wrote:

hello all. need some advice on when can i apply for a prime cards  after bk7  --> Credit Union is the best option for you at the moment for prime CC

file for bk7 on 3/12 and discharged on 6/12....dont no wat my score was at the time. 

things i have are......

cap1 secured card 11/12....200 limit --> Try to increased even if only 50 dollars at a time each month. Don't close this account just yet. Dont charge more than 35 dollars per month. 

cap1 unsecuerd platinum 12/12.....500 limit  --> Request a CLI on the six month mark, if you have used it good, they will approve it. (you probably are in the credit stepts program). Apply on July for the Cash Rewards Cap One. 

target redacrd 4/13.....200 limit --> Don't max it out. Play with it (charge & pif each month)

sony card visa 4/13....500 limit -> Don't max it out. Play with it (charge & pif each month)

some things i like to no....

given dat secured card dont grow wit u and no cli....should i close it? or is it 2 early? --> It is too early. Don't close it. You need to be patiente. 

personally, i like to close it and apply for cap1 cash reward card for an average credit, that because u can only have 2 cap1 cards at a time,(i need advice on this please).

sony card dont count as 2 cards cz its a branded card and they dont count as being 2....

one thing that im kind a nervous bout is that... perhaps i have opened 2 many cap1 cards thats going to perhaps hinder me from applying and getting prime card which is my goal and i have read somewhere that potential lenders dont like seeing cap1 as my tradeline on credit report ....Is this because thay r a sup prime lender? I haven't had a problem with the CAP1 secured. That's is my first card after bankrupcy and it has help me establish good payment history. 

and finally should i consider having a share secured loan from my credit union and will dat help improve my credit? --> This is one of the main things I was going to suggest. I currently have 2 secured loans and they have help me a LOT. 

i have 12 inquires on EX, 11 EQ and 11 on TU......not all from 2013.

I also burned chase,barclay, ge, and citi i think.....what r my chances with them again? Maybe in 5 years but I wouldn't worry about them. There a lot of creditor who would work with you.

thanks folks

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HI BK510, 

I have a BK7 discharge from last year 6/12 and have been able to get my scores to 650 with various CC. Besides the comments above, i would say the most important tool in rebulding is PATIENCE and FICO forums. I just began posting here but has been reading this forums for a WHILE and believe me that they have help me understand and maximize the rebuilding process. Look into CU's (NFCU if possible) they will help out. Best of luck! Hit me w any questions if u have. 

[Guyatthebeach]

BK510,

I think you are on the right track to getting a prime card. I would leave everything just the way it is and apply for any new credit until your new account is at least 1 year old.

American Express, Citi and Chase are not bankruptcy friendly so I would write them off. I know from personal experience that GE is bankruptcy friendly. I burned them badly when I filed CH7 on 11/11 and discharged in 2/12. I was approved for a Walmart credit card for $300 in April '13. If I were you, I would apply a Walmart card in May '14. I would wait on Barclay until 2015.

I think there is a prime card in your future. You may be able to get a Bank of America card or Discover in late '14 or early '15.

Hang in there, it will be worth the wait.

[bk510]

hey thanks for ur advice solider....

couple of questions for u....

may i ask what ur term is or was on ur secured loan?

I am thinking bout  getting secure loan for 500 for 12 months term....Is this ideal? (note... i was told by 1 of the gentleman on this form that, he would nix the idea of getting a secured loan cz it only does a tiny portion of improving my credit).

And if i do pull the trigger on this, when should i do it? Should i wait until my current lines reach 6 months or is it 1 of those things where earliar the better?

 yes i do believe i am in credit step program with cap 1.

and finally, ur advice on possible applying for cap1 cash reward sometime in july.... the problem i think with this is that, i am told that u can only have max of 2 cap1 card,

which leaves me out since i already have cap secure and unsecured at the moment.

but i am not worried bout right now though ( just wanted to know what ur thought is on this one...)

thank u,

[bk510]

hey Beach, thanks for replying,

yea i am going to try for a the walmart card in may 14 as u stated, to c wat happens.

By the way beach, do u what agency walmart pulled for ur app?

thank u,