Reply
Moderator Emeritus
Posts: 4,470
Registered: ‎12-31-2008
0

Re: Getting a Credit Card

 

Hi OP,

 

Congrats on your rebuilding efforts!

It's great to see that FICO score rising, but you still have a little rebuilding to do.  A mid FICO score is about 723 (give or take, and depending on who you talk to).

And, there are lots of folks who won't take you on with a BK reporting no matter what your FICO scores are.  Here's a thread about BK friendly cards that may be helpful.

 

Do you have any closed accounts that are on your CR?  Anything from before your BK?  That will be helpful to know.

 

I'll have to second what others have said about waiting six months before app'ing for your next card.  It'll definitely work in your favor.  Right now most revolving accounts that would approve you will not be keeper cards, you'll want to pass those up.  And keep rebuilding - take care of anything on your reports that's holding your score down.

 

If you post on this concern again in about five months; your score will be higher and you'll be ready to app for your next card.  Your AAofA will be higher.  And you'll be more likely to be approved for a long-term "keeper" card.  A second card at this point is not likely to yield you any FICO points, btw.  Your biggest FICO gain is when you open your first revolving bank account (your BofA secured card did that).  At this point, again, you'll want just a little age before adding another inquiry and a new account.  Let's see six months from opening your BofA puts you at this coming September.  So hold that goal in your mind - something like, "After Labor Day, I'll want to be looking at adding another card.  What can I do to keep rebuilding so I look darn good at that point?  And which cards am I keeping my eye on for the next few months to see if I really really like em?"

Just puttin' syrup on something, don't make it pancakes.
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.