topic Re: Is this considered progress? in Bankruptcy

Is this considered progress?

kd081708 — Mon, 24 Feb 2014 21:59:48 GMT

I burned Capital One for a secured and unsecured card during my Chapter 7 Bankruptcy that was discharged in October 2013. I am trying to rebuild so I applied twice for their secured card again and was flatly denied with the last time being about a month ago. I applied again yesterday and was approved! Is this a sign that they are giving me another chance?

Re: Is this considered progress?

Anonymous — Mon, 24 Feb 2014 23:02:59 GMT

Why would they deny a secured card?

I can see why if you burn them with an unsecured and request an unsecured... but not quite sure why they wouldn't take a deposit for a secured card from anyone.

Re: Is this considered progress?

kd081708 — Tue, 25 Feb 2014 00:50:25 GMT

I think it was because I burned them with a secured card as well. Also, you get $200 minimum credit limit although the deposit may be as low as $49. So for some, your are not having to put up the entire amount upfront. Thats how much I paid the first time. This time I had to do the entire $200 to get $200.

Re: Is this considered progress?

SoulMaster — Tue, 25 Feb 2014 01:40:22 GMT

~~Your current scores (553 according to your sig) seem way too low for a BK that was discharged 5 months ago. Have you done step 1 of the 7 to 700 guide? That should take you up to a 600-630.~~

Nevermind. I just saw your other post where you "went crazy" apping (incl fingerhut) when you got your discharge. Ignore the stuff above. The only advice I have is that you need to slow down and stop applying for things if you're hoping for a good long-term rebuild.

Good luck,

-SM

Re: Is this considered progress?

kd081708 — Tue, 25 Feb 2014 01:57:50 GMT

Thanks for the advice. I started off at 450 so 553 is a huge increase for me. I recently got 2 secured cards and car loan.So I don't plan on applying for anything for at least 6 months.