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Established Member
Section700
Posts: 48
Registered: ‎11-30-2012
0

Help! with new credit card

So here is my current situation:

 

C7BK dicharged 6/7/11

 

Current lines:

 

Re-affirmed Student Loans

Wells Fargo Auto Loan - $15k @ 10.5% on 10/26/11

1st Premier CC - 750CL 

 

TU - 679, EX - 699, EQ - 684

 

My short-term goal is to add another credit card with a decent limit to increase my available credit. Long term is to be approved for a mortgage at the minimum requirement of 2 years from discharge date (which will be June 7, 2013).  

 

So here's my question, do you think I am "above" the Capital One Cash Rewards card? Should I try to apply for a better card or just go for this one since it seems to be well within reach of being accepted based on what I've found through research.

Chapter 7 Discharged 6/7/11
Sallie Mae 23k @ 4.5% (student loans) reaffirmed
First Premier 700CL opened 07/11 (CLOSED 06/14)
Wells Fargo 15k @ 10.5% opened 10/11 (auto loan)
Barclays Rewards MC 1500CL opened 12/12
Capital One Spark 2500CL opened 02/14
Discover IT 1000CL opened 03/14
As of 11/20/14 myFICO: EQ 675, TU 657, EX 684
Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Help! with new credit card

Hello Section700 and welcome to the forums.

 

I moved your question here because I believe you will get better attention to your question.  Good Luck!


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!
Established Member
Section700
Posts: 48
Registered: ‎11-30-2012
0

Re: Help! with new credit card

Ok, well I was hoping someone with rebuilding after a BK experience would have a suggestion

Chapter 7 Discharged 6/7/11
Sallie Mae 23k @ 4.5% (student loans) reaffirmed
First Premier 700CL opened 07/11 (CLOSED 06/14)
Wells Fargo 15k @ 10.5% opened 10/11 (auto loan)
Barclays Rewards MC 1500CL opened 12/12
Capital One Spark 2500CL opened 02/14
Discover IT 1000CL opened 03/14
As of 11/20/14 myFICO: EQ 675, TU 657, EX 684
Blogger
HiLine
Posts: 3,176
Registered: ‎10-19-2012
0

Re: Help! with new credit card


Section700 wrote:

Ok, well I was hoping someone with rebuilding after a BK experience would have a suggestion


You'll be amazed :smileywink:

 

Moderator Emeritus
webhopper
Posts: 7,225
Registered: ‎09-16-2011
0

Re: Help! with new credit card

Barclay's... they are known to be fairly friendly. Be prepared to recon!

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Established Member
Section700
Posts: 48
Registered: ‎11-30-2012
0

Re: Help! with new credit card

so Capital One Cash Rewards or Barclays Rewards MC

 

anything else??

Chapter 7 Discharged 6/7/11
Sallie Mae 23k @ 4.5% (student loans) reaffirmed
First Premier 700CL opened 07/11 (CLOSED 06/14)
Wells Fargo 15k @ 10.5% opened 10/11 (auto loan)
Barclays Rewards MC 1500CL opened 12/12
Capital One Spark 2500CL opened 02/14
Discover IT 1000CL opened 03/14
As of 11/20/14 myFICO: EQ 675, TU 657, EX 684
Established Member
Section700
Posts: 48
Registered: ‎11-30-2012
0

Re: Help! with new credit card

         

Chapter 7 Discharged 6/7/11
Sallie Mae 23k @ 4.5% (student loans) reaffirmed
First Premier 700CL opened 07/11 (CLOSED 06/14)
Wells Fargo 15k @ 10.5% opened 10/11 (auto loan)
Barclays Rewards MC 1500CL opened 12/12
Capital One Spark 2500CL opened 02/14
Discover IT 1000CL opened 03/14
As of 11/20/14 myFICO: EQ 675, TU 657, EX 684
Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Help! with new credit card

GE backed cards are pretty decent and work pretty well with you.  Plus the fact that they give really good CLIs.  They are you mostly store cards, Walmart, Amazon, Paypal, etc., however the Walmart could also come in a Discover card.  You app for them and they determine if you get the store or Discover. 


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!
Established Member
Section700
Posts: 48
Registered: ‎11-30-2012
0

Re: Help! with new credit card

[ Edited ]

Thanks Shogun! - if I had a couple GEMB accts charged off in the BK do you think they will hold that against me?

Chapter 7 Discharged 6/7/11
Sallie Mae 23k @ 4.5% (student loans) reaffirmed
First Premier 700CL opened 07/11 (CLOSED 06/14)
Wells Fargo 15k @ 10.5% opened 10/11 (auto loan)
Barclays Rewards MC 1500CL opened 12/12
Capital One Spark 2500CL opened 02/14
Discover IT 1000CL opened 03/14
As of 11/20/14 myFICO: EQ 675, TU 657, EX 684
Senior Contributor
Wolf3
Posts: 3,197
Registered: ‎01-24-2010
0

Re: Help! with new credit card

I think a better strategy is to get a Capital One secured card and build the limit to the maximum over time.   The other cards are likely to only be toy limits if you even get approved.    IMO, a big CL is much better on your report for mortgage.

 


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