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Discover IT Approved...12.99%...with BK7....very much possible!

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720andBeyond
Valued Member

Discover IT Approved...12.99%...with BK7....very much possible!

Chapter 7 Bankruptcy-February 2011/Approved April 2011....Smiley Sad

 

Started out fresh with no cards after BK7. Cards I have opened since 2011:

 

1.Capital One Quicksilver-$7,500(Started out at $750) Open since 5/2011

2.Capital One Quicksilver-$3,500 (Started out a $750) Open since 8/2011

3.HSBC converted to Capital One Platinum- $1,000 (Started out at $300.00) Open since 1/2012

4. Lowe's- $5500 (Started out at $500) Open since 02/2012

5. Walmart- $1850 (Started at $300) Open since 02/2012

6. JC Penny- $1900 (Intial credit line from in store pull) Open since 6/2015

7. Credit Union- $5,000 (Original limit) 9.9% APRSmiley Surprised Open since 11/2013

8..Credit Union- $10,000 (Personal Loan @ 5.9%) Open since 2/.2015 - Only using to create higher limit installment history. Needed an installment other than my mortgage.

 

Annual Income- $36000

 

I choose to apply for a Discover IT card mainly becasue I kept receiving their mailers stating I was pre-qualified. Once I applied I was given a near instant decision for a $11,000.00 opening credit line. Smiley Happy I was shocked, as I had no cards with that level since the BK7. My pulled score through Discover was a 768, which probably helped with the limit.

 

I had no credit cards burned during my BK7, nor was the BK7 consumer debt related, which could have helped. Also, the only negative item that remains on my credit report is the actual BK7 itself, as the few derogatives lines that I had have all fallen off already.

 

Hopefully this helps others as they attempt to rebuild. I followed the 24 months to 700 score posts here at myFICO, but I was only able to reach the 680's. It took me about 2.5 years to reach the low 700's, so don't give up if you get stalled. This just goes to show you that Discover is BK friendly, atleast in some regards, so you might be able to get your foot in the door also.

 

Message 1 of 17
16 REPLIES 16
GoldSorata
Established Contributor

Re: Discover IT Approved...12.99%...with BK7....very much possible!

Congrats and nice APR. I've been very happy with my Discover and the cash back is great Smiley Happy

Message 2 of 17
OmarGB9
Community Leader
Super Contributor

Re: Discover IT Approved...12.99%...with BK7....very much possible!

Grats!

Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 3 of 17
Anomalous
Senior Contributor

Re: Discover IT Approved...12.99%...with BK7....very much possible!

Awesome! Congratulations!

Keep both your credit and your body in top shape!

Message 4 of 17
B335is
Moderator Emeritus

Re: Discover IT Approved...12.99%...with BK7....very much possible!

Congrats!!
Message 5 of 17
alextercero
Super Contributor

Re: Discover IT Approved...12.99%...with BK7....very much possible!

Congrats

Current Credit Cards


Currently rebuilding as of (May 2021)

Current Fico Scores 8/9: (April 2024)


Credit Age:

Inquiries:

Message 6 of 17
Anonymous
Not applicable

Re: Discover IT Approved...12.99%...with BK7....very much possible!

Very nice.. Enjoy it.

Message 7 of 17
Deltadog03
Established Contributor

Re: Discover IT Approved...12.99%...with BK7....very much possible!

WOW!  Congrats on this!

EQ8: 646 EQ5: 652 V3.0: 665 **8/2015
TU8: 635 TU4: 700 V3.0 :663 **8/2015
EX8: 636 EX3: 670 V3.0: ? **8/2015
CCD Util 35%

Message 8 of 17
credithappy
Regular Contributor

Re: Discover IT Approved...12.99%...with BK7....very much possible!

Congrats to you.

Amex Green - Amex BCP - Amex Everyday Card - Amex Rose Gold - Elan Visa - Xcel FCU Visa - Walmart MC - Sam's MC - Macy's - Bloomingdales - Nordstrom - Sam's Club CC - Discover IT and US Bank Visa FlexPerks - AMEX HHonors - NAVcheck - NAVcashRewards Sig Visa, NAVgoRewards MC, Chase Amazon VISA, BoA CashRewards VISA - Chase Marriott Reward Premier CC, Jetblue Card MC, PenFed Power CR Visa Signature Card, Chase Freedom, Nordy VISA and BBVA
Message 9 of 17
tbque
Valued Contributor

Re: Discover IT Approved...12.99%...with BK7....very much possible!

Awesome, Congrats!





Message 10 of 17
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