Valued Contributor
Posts: 1,507
Registered: ‎07-24-2011
Re: HOW TO: From BK7 discharge to 700 in 24 months or less!

Wish I would have read this a week ago Smiley Sad.  I will be discharged shortly from a chp 13 so I am just now starting the rebuilding process.  I will implement some of the strategies you've listed for myself.  I received a pre-approved offer from Credit One Bank for a $400 limit.  I haven't recieved the card yet but after reading around here I'm wondering if I should cancel it?  The reason I ask is because I am getting a secured card from a CU with a limit of $1500 to $2000 (not yet decided) in a week or so.  Will that look not so good to have a much higher limit for one major CC than the other?  I mean is there a FICO penalty for that?  The CU reports to all 3 CRA's, doesn't report as secured and they don't require a credit check so that fit like a glove for me.  No HP to knock my scores down.


Secondly I recieved a credit card from WFNNB (the avenue) for $150 as well and it was a soft pull on EQ.  I actually just signed up on the website for a catalog, put a few items in my shopping cart that totalled about $40 and the next thing I knew a pre-approved offer showed up so I took it.


As for the strategy that you have laid out, well I IIB Capital One and Household so I don't think they will be too happy to see me coming.  So I will have to alter my strategy a bit and find another source.  I think that Barclays would be a good choice a year from now so I shall see.


In the meantime I will get to working on my reports because I have a few baddies that are reporting incorrectly.  Personally my goal is removal of the TL and not correction, but if I can't get removal then ultimately they need to report right.  The thing is most of the baddies are set to be removed no later than March of 2013 .  Considering that I have been in a chp 13 for 63 months now, March doesn't seem like that long at all for me.  It's amazing how much patience I have acquired over the last 5 years Smiley Indifferent

Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014