topic Re: App in Credit Card Applications

App

Anonymous — Sun, 04 Sep 2016 01:06:02 GMT

BK was discharged. Went through my CR and made sure everything was reporting correctly. Applied for my first cc. Cap1 plat - declined (I knew it would I burned them in bk, but had to try because I know they are still good after bk) anyway apped for credit 1, approved for $300.

Wanted to try and get 1 more unsecured and then stop for now and let these grow. Ideas?

Re: App

Shawndoe79 — Thu, 08 Sep 2016 04:47:36 GMT

Cap1 is very BK friendly but you should have waited 3-6 months. You could try a secured card or if you want another unsecured, try Milestone. They even have a preapproval so you dont waste an inquiry. You can try discover prequal as well. Good luck on your rebuild.

Re: App

Anonymous — Thu, 08 Sep 2016 05:07:30 GMT

Hi, welcome to the post-BK journey! +1 to waiting 3 to 6 months for apping.

It was 6 months after Ch7 DC that I got CreditOne, then within another two months Cap1 and Discover It, and a month after that Victoria's Secret via Shopping Cart Trick softpull, then NFL Rewards Visa. Just a note about CreditOne, my starting SL was $400 and they gave an auto CLI of $200 (to $600 SL) when my 1st statement cut. As far as I have read on here, they don't seem to do auto CLIs after that, but will charge you to do a CLI for you which is ridiculous. I'm just letting you know that CreditOne doesn't appear to be a card that will grow much at all, so I would recommend getting better cards as soon as you're able, which it sounds like you already plan to do. But CreditOne hitting your CRs should improve your scores and make that easier.

Also, it's really important to have an installment loan for credit mix. I have a student loan, but if I hadn't I would have found a CU that offers a credit builder loan. The following post is how I found this forum. It goes into detail on how to rebuild and, while I haven't followed it to the letter, it has given me a plan of action:

http://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/td-p/1384075