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App with Navy or Cap1 first

Valued Contributor

App with Navy or Cap1 first

I'm nervous! Anyway, my bk7 discharge was entered on Friday and 2/3 bureaus have updated. I'm torn whether to app with navy or cap1 first. I've only been a navy member since Saturday, so I may want to give them some time. Does navy ask for bank statements for a cc or just the navchek? I'm not sure what my eq score is today. I saw on another site that they had updated, but I haven't gotten a sw yet. Hopefully over 600 now since I was 599 as of last week.

Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 1/22/15 TU 645; EQ 605; EX 633 New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)
Message 1 of 27
26 REPLIES
Valued Contributor

Re: App with Navy or Cap1 first

Oops, sorry. I meant to put this in credit cards.

Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 1/22/15 TU 645; EQ 605; EX 633 New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)
Message 2 of 27
Moderator Emeritus

Re: App with Navy or Cap1 first

Moved.  Smiley Happy

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 3 of 27
Frequent Contributor

Re: App with Navy or Cap1 first

Starry, might be worth starting with somone other than navy first. It may lead to a higher/unsecured product with navy in say a few months time. Navy will likely approve you for a secured card first, which won't unsecure for 12 months but will grow. 

 

The alternative: Start with Capone/Creditone. Within three-4 months, get an unsecured navy. It will likely be around 1k, and will grow like crazy. Somone just CLI a 1k Navy card to 17.5k, with his first request. 

 

I hope you see my point. Navy is a sure thing, how you want to go about it is up to you. 


Starting Score: 501
Current Score: 754 EQ,TU 745,EX 750
Goal Score: 800

Message 4 of 27
Mega Contributor

Re: App with Navy or Cap1 first

Go with Cap1 stay FAR away from creditone!



EQ FICO 548 3/3/16
Message 5 of 27
Frequent Contributor

Re: App with Navy or Cap1 first

LS2982 I have to disagree about creditone.

 

They are a horrible blood sucking company, but they have a purpose. In a post-BK rebuild, they serve very very well.  They use a soft-pull preapproval. This means, you won't burn a HP just to find out you are denied after the fact. $75 AF is horrendous but the goal post-Bk is to have three revolvers reporting. Creditone can get you there. I paid, got my three revolvers and scored a 6.5K visa sig 6 months post discharge.

 

As starry knows, we've covered this extensively in the appropriate thread, this card MUST be cancelled in month 11! This is essential.

 

All that being said, its not a good card, and definitely deserves to rot in a sock drawer (exactly were mine is) but it can be used effectively to achieve new credit freedom.  


Starting Score: 501
Current Score: 754 EQ,TU 745,EX 750
Goal Score: 800

Message 6 of 27
Epic Contributor

Re: App with Navy or Cap1 first


starry1 wrote:
I'm nervous! Anyway, my bk7 discharge was entered on Friday and 2/3 bureaus have updated. I'm torn whether to app with navy or cap1 first. I've only been a navy member since Saturday, so I may want to give them some time. Does navy ask for bank statements for a cc or just the navchek? I'm not sure what my eq score is today. I saw on another site that they had updated, but I haven't gotten a sw yet. Hopefully over 600 now since I was 599 as of last week.

So you currently have 0 Credit Cards? and 580 TU Fico?

 

I would start with Navy because if approved for unsecured with anything over $500, I would not even apply to Capital One!!  Although we are seeing Capital One slowly bringing long time customers up to realistic areas, we don't know if that will change the LONG process as a new customer with fresh rebuilding credit... and at 3 HP's (IF you are a person unlike me who does not throw caution to the wind for HP's) I would not burn 3 for one $300 Cap1.

Get Navy

Get Walmart

umm... MAYBE if you really don't care about the HP's do the pre-qual from Capital One but I would skip it if it does not offer you a card off that pre-qual.

Message 7 of 27
Valued Contributor

Re: App with Navy or Cap1 first

My TU score has gone up, my last pull was mid-January.  I'm just too cheap to pull a new score when my quarterly report and score is due on March 6th.  I think all three are probably sitting right about 600 plus or minus a few.

 

And no, I don't have any cards and haven't since 2003-ish.  I can't do a Cap1 prequal because I'm opted out, so the soft pulling doesn't work.

 

I think Walmart is out for 6 months or so because I'm told GE prefers to see some other revolving first.  My two choices for now are Navy and Cap 1.  Only the really bad ones like Continental or First Premier will give me a chance otherwise.


Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 1/22/15 TU 645; EQ 605; EX 633 New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)
Message 8 of 27
Valued Contributor

Re: App with Navy or Cap1 first

Any thoughts on one of the Comenity/WFFNB cards?


Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 1/22/15 TU 645; EQ 605; EX 633 New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)
Message 9 of 27
Mega Contributor

Re: App with Navy or Cap1 first

Stay away from those for now they will decline for no history.



EQ FICO 548 3/3/16
Message 10 of 27