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I am a pretty good talker. What "backdoor" would you suggest? Are there buzz words they look for? Do I need to have open tradelines to get their attention? I mean I have a mortgage and a Lexus lease but no cards.
@Pway wrote:You are going after the wrong cards. You are new to credit per say because you have not done any rebuilding since your bk. I would suggest that you check out Capital One prequalifier and see what they have to offer you. Recon is when you call the back door number of a creditor and try to convince them to offer you credit after you have been denied for a product that you have applied for. You need to open atleast three credit cards to maximize fico scoring.
@Pway wrote:
@KenPav wrote:The Venture cards says it is for people with excellent credit. My score is around 630-650. Is this my best bet?
I personally would not go after that card if you have no tradelines open. The starting line for the Venture is 5k and Venture One is 3k. You are rebuilding your credit and I would start with the Quick Silver One and Platinum. If you are approved for one product then more than likely you will be approved for the other.
This is discouraging. About 10 years ago I have numberous cards for 20k plus. Anyway whay limits should I look to get from these cards and should I apply for both?
Creditors are looking at your current rebuild not your reports from the past. They want to see how you have rebuild your credit since the bk. It is hard to tell what amout you would be approved for. I was fresh out of bk around 4 month and I was approved for 500 limits on both the QS1 and Platimum. Some have gotten higher limits and some has gotten lower. I suggest that you app for both one application after another if you are apporved for the first product. Remember you are rebuilding your credit for the first time since you have filed bk, and you have to start some where if you want those high credit lines again.
@Pway wrote:Creditors are looking at your current rebuild not your reports from the past. They want to see how you have rebuild your credit since the bk. It is hard to tell what amout you would be approved for. I was fresh out of bk around 4 month and I was approved for 500 limits on both the QS1 and Platimum. Some have gotten higher limits and some has gotten lower. I suggest that you app for both one application after another if you are apporved for the first product. Remember you are rebuilding your credit for the first time since you have filed bk, and you have to start some where if you want those high credit lines again.
Applying now...
This may be an obvious question, but it doesn't look like anyone asked. Have you pulled your credit reports to see if everything BK'd is reporting correctly? This should be the first step post BK, before you app for anything.
@Countingpennies wrote:This may be an obvious question, but it doesn't look like anyone asked. Have you pulled your credit reports to see if everything BK'd is reporting correctly? This should be the first step post BK, before you app for anything.
I have pulled my credit. As a novice I am not sure what reported correctly actually means. It doesnt show anything currently late nor has it since the filing. What else should I be looking for?
Also I applied for the Cap One cards and got the response that I will have a decision in 7-10 days.
The Cap1 7-10 day might just be income verification. If it is, the letter will tell you. Cap1 frequently asks for this on your first Cap1 card after BK.
In general, your BK'd accounts should all be noted as discharged in BK with a 0 balance, you should have no collections, and your BK should say discharged in the Public Records section. You also mentioned a Judgment, is that still on your reports and how is that reporting? You need to check all 3 reports for any errors.
If you haven't done so already, go to the Bouncing Back subforum, either/and the BK and Rebuilding section. Lots of good info in those threads.
Are you a veteran? DD-214 ? Try USAA (they may give you a 'classic' card that will auto graduate.... or a secured that will help rebuild)
Do you have anyone in your family that is RETIRED (20+ Years) or ACTIVE Military or Reserves etc..?? If so - NAVY FEDERAL Probobly have to Recon but they seem to recon with $500 and people 6 months later have 10K limits and a year 25K
Have you tried a Credit Union (Such as NASA FCU)
What were the creditors you 'burned' in you BK?
Capital One has a short memory... that shouldnt matter...
Have you got your FICOs from MYFICo.com
Sign up for the 3-bureau monitoring.... what is your 04-score? (mortgage?) This is what capital one uses....
If it doesn't say congrats a prequalified offer was found... your not pre-qualified... recommended means nothing...