filed chapter 7 in december... now time to rebuild~help

[Anonymous]

I filed chapter 7 in December2011 and was discharged just before the new year. I check my score on creditkarma and it's 688. I recently have been getting offers to rebuild credit since now i don't have any. So i decided to go ahead and apply for the pre-approved capital one mastercard. It has 0% apr until feb 2013 then up to 22% with no annual fee(which is good!!) I was quite surprised that my limit given was $3000. THat's great ! so a couple weeks later I tried for the am ex blue with the cash back rewards~looking back i probably shouldn't have~ i was denied... So how bad did that effect my credit score? Will applying  for another card change the limit i was given by my capital one card? Is the only reason i was denied the am ex was because i have a bankruptcy? Because a 688 is pretty good for just doing the bankr. 6 months ago. Is the creditkarma pretty accurate?

Thanks for any imput given

[Anonymous]

I filed chapter 7 in December2011 and was discharged just before the new year. I check my score on creditkarma and it's 688. I recently have been getting offers to rebuild credit since now i don't have any. So i decided to go ahead and apply for the pre-approved capital one mastercard. It has 0% apr until feb 2013 then up to 22% with no annual fee(which is good!!) I was quite surprised that my limit given was $3000. THat's great ! so a couple weeks later I tried for the am ex blue with the cash back rewards~looking back i probably shouldn't have~ i was denied... So how bad did that effect my credit score? Will applying  for another card change the limit i was given by my capital one card? Is the only reason i was denied the am ex was because i have a bankruptcy? Because a 688 is pretty good for just doing the bankr. 6 months ago. Is the creditkarma pretty accurate?

Thanks for any imput given

[Lasardo]

Just filed BK and your score is 688!? Count youself lucky for getting such a great CL from CAP 1, I thought they were strict. I was lucky to get a secured card and I did not file BK. Your score is Probably higher, credit karma tends to be low. My TU is 37 points higher than CK. I do not expect 1 inquiry to effect you too much but it is hard to say, everyone is different. If you re planning to apply for an additional card you may want to see about an additional card with cap 1 since they allow you to check what you are pre-approved for before actually applying.

[sports1965]

Amex will NEVER approve you until your bk falls off in 10 years from your discharge.

Applying will not affect your $3000 credit card unless capital sees you're applying for 2 much credit.

Don't apply for more credit for at least the next 6 months.

[DM6410]

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@Lasardo wrote:
Just filed BK and your score is 688!? Count youself lucky for getting such a great CL from CAP 1, I thought they were strict. I was lucky to get a secured card and I did not file BK. Your score is Probably higher, credit karma tends to be low. My TU is 37 points higher than CK. I do not expect 1 inquiry to effect you too much but it is hard to say, everyone is different. If you re planning to apply for an additional card you may want to see about an additional card with cap 1 since they allow you to check what you are pre-approved for before actually applying.

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Aren't Credit Karma scores FAKOs, or do they simply use a different version of FICOs (i.e. TU 04, TU 08, TU 98 etc)? If that's the case that would be a possible reason in the difference of scores FICOs vs. FAKOs.

[llecs]

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@DM6410 wrote:

Aren't Credit Karma scores FAKOs, or do they simply use a different version of FICOs (i.e. TU 04, TU 08, TU 98 etc)? If that's the case that would be a possible reason in the difference of scores FICOs vs. FAKOs.

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CK's scores are FAKOs, and IMO, should be totally ignored. The scores are VantageScores and TransRisk scores. A teeny tiny minority of lenders do use Vantage, but I can't recall a single poster in mortgage loans who said their lender uses Vantage. There are a couple lenders out there though. Nobody uses TransRisk scores.

[Lasardo]

So CK is the most accurate??