topic Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY in Bankruptcy

Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

feras04 — Wed, 24 Oct 2012 08:39:26 GMT

Well, I'm not going to write a novel, but I did want to come share some good news to this online community. Before I filed bankruptcy, I came on here to get adviced. I learned alot and decided, I should file. When I filed, I included all my cards (about 40k in debt) and I left one card that I've had for the past 2 years, it has a 0 balance on it and I have maintained excellent payment history, so decided I should keep it to help my credit score, because if you file bankruptcy you dont have credit history. By keeping this one card with a 0 balance out of bankruptcy, I think its gonna help me build alot quicker post discharge, heres why.

I filed for Chapter 7 on 7/1/12 and I know back in June, the MYFICO scorewatch was 548 EQ.

As I filed and things were getting taken off my credit report, my score was jumping up alot and even before discharge it was at 648.

I get my discharge last week, it said 10/10/12 Discharged. So my credit score is still 648 as of now, and all I have is that one secured 500 dollar card I kept out of bankruptcy with a 2 year history, which is why my score is 648 even during/after discharge.

Well, I know its only been a week since discharge, but I felt that I should apply for my first credit card today. I read so much on here and I again want to thank everyone for the advice.

I read the fourms and went to the threads that talked about "Friendly creditors post BK" and stuff. From reading so much, I noticed Capital one is something alot of ppl get, so I decided I should give that a shot. Someone mentioned doing a "Pre-qualify" check on thier site, which they let you do without checking your credit score, so I did and they offered my the Capital platnium for 19 a year or the Capital classic platinum for 39 but it comes with the 0 APR till june 13 and seems like a more classier card

So I took the plunge guys. One week post discharge, with only one credit card with a 500 secured credit limit, and a MYFICO score of 648, I applied for the Capital one platinum classic card and here is what I just got:

Account Terms

Credit Limit:$2,000.00
Purchase APR: 0% intro APR until June 2013; after that, 19.8% variable APR
Transfer APR: 19.8% variable APR

They said I'm approved and my new card will arrive in the mail within 7-10 days. I am posting this because I am excited for getting approved, and for getting a high credit limit right after bankruptcy. I am 26 and I put my yearly income at 64k if that helps you guys.

For those that just got out of discharge or are getting out soon, don't be afraid to apply. Don't wait one year like people tell you to because you are only prolonging your growrth.

By getting a 2k credit limit, I am only gonna grow faster and my score is only gonna get better if I keep my balance really low or just pay it in full for a month or two.

About 2 months from now, I will apply for another "BK friendly" card that many of the forum members reccomend, and I bet I will get approved. Maybe Fingerhut or a department store card, but I'm excited and I hope this motivates you guys to start re-building. REMEMBER, don't get carried away with applying, if you get declined then leave it alone for a month or two, watch your credit report and scores, and wait for credit offers in the mail, maybe I just got lucky, maybe my secured 500 dollar card with 2 years history that i kept out of BK saved me.

Good luck to all and happy re-building. Will post again soon.

Current EQ MYFICO Score: 648

Public Savings Bank secured card: $500 (2 years old, kept out of BK)

NEWLY APPROVED: Capital One Classic Platinum ( 2,000k ) 0 apr 39 a year, approved one week after discharge

Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

Anonymous — Wed, 24 Oct 2012 15:14:14 GMT

That's awesome! Congratulations!!!

Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

somotao — Wed, 24 Oct 2012 22:29:11 GMT

I like reading good news like yours.....another example of life after BK

Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

Anonymous — Thu, 25 Oct 2012 00:13:06 GMT

Congratulations!! Barclay's is also BK friendly. I was approved for the priceline visa card with $2,400 limit about one month after discharge.

Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

wallyworld123 — Thu, 25 Oct 2012 03:42:40 GMT

Thats amazing news congrats!

Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

softballgirl29 — Thu, 25 Oct 2012 16:30:24 GMT

Hispanic208...can you give me a little information on the barclays card?

Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

Scupra — Fri, 26 Oct 2012 02:12:51 GMT

Apple.com card

Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

Scupra — Fri, 26 Oct 2012 04:09:26 GMT

@feras04 wrote:
Well, I'm not going to write a novel, but I did want to come share some good news to this online community. Before I filed bankruptcy, I came on here to get adviced. I learned alot and decided, I should file. When I filed, I included all my cards (about 40k in debt) and I left one card that I've had for the past 2 years, it has a 0 balance on it and I have maintained excellent payment history, so decided I should keep it to help my credit score, because if you file bankruptcy you dont have credit history. By keeping this one card with a 0 balance out of bankruptcy, I think its gonna help me build alot quicker post discharge, heres why.

I filed for Chapter 7 on 7/1/12 and I know back in June, the MYFICO scorewatch was 548 EQ.

As I filed and things were getting taken off my credit report, my score was jumping up alot and even before discharge it was at 648.

I get my discharge last week, it said 10/10/12 Discharged. So my credit score is still 648 as of now, and all I have is that one secured 500 dollar card I kept out of bankruptcy with a 2 year history, which is why my score is 648 even during/after discharge.

Well, I know its only been a week since discharge, but I felt that I should apply for my first credit card today. I read so much on here and I again want to thank everyone for the advice.

I read the fourms and went to the threads that talked about "Friendly creditors post BK" and stuff. From reading so much, I noticed Capital one is something alot of ppl get, so I decided I should give that a shot. Someone mentioned doing a "Pre-qualify" check on thier site, which they let you do without checking your credit score, so I did and they offered my the Capital platnium for 19 a year or the Capital classic platinum for 39 but it comes with the 0 APR till june 13 and seems like a more classier card

So I took the plunge guys. One week post discharge, with only one credit card with a 500 secured credit limit, and a MYFICO score of 648, I applied for the Capital one platinum classic card and here is what I just got:

Account Terms
Credit Limit:$2,000.00
Purchase APR: 0% intro APR until June 2013; after that, 19.8% variable APR
Transfer APR: 19.8% variable APR
They said I'm approved and my new card will arrive in the mail within 7-10 days. I am posting this because I am excited for getting approved, and for getting a high credit limit right after bankruptcy. I am 26 and I put my yearly income at 64k if that helps you guys.

For those that just got out of discharge or are getting out soon, don't be afraid to apply. Don't wait one year like people tell you to because you are only prolonging your growrth.

By getting a 2k credit limit, I am only gonna grow faster and my score is only gonna get better if I keep my balance really low or just pay it in full for a month or two.

About 2 months from now, I will apply for another "BK friendly" card that many of the forum members reccomend, and I bet I will get approved. Maybe Fingerhut or a department store card, but I'm excited and I hope this motivates you guys to start re-building. REMEMBER, don't get carried away with applying, if you get declined then leave it alone for a month or two, watch your credit report and scores, and wait for credit offers in the mail, maybe I just got lucky, maybe my secured 500 dollar card with 2 years history that i kept out of BK saved me.

Good luck to all and happy re-building. Will post again soon.

Current EQ MYFICO Score: 648

Public Savings Bank secured card: $500 (2 years old, kept out of BK)
NEWLY APPROVED: Capital One Classic Platinum ( 2,000k ) 0 apr 39 a year, approved one week after discharge

Your story is SO similar to mine it is crazy to read! I was just discharged today after 2 months of waiting. Through the bk I kept a $500 cap1 card that has 7 yrs of perfect payment history!! My fico eq score is a 651 right now, veryyy simalar to you! On the captal one "offer checker" I am offered the cap1 cash and cap1 platinum, not too sure what to do about that.. I'm worried I wouldnt get approved and take a hard hit. I was thinking of 10% util my secured for a couple months and then app.

Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

feras04 — Tue, 30 Oct 2012 22:38:01 GMT

With a score like that, you should get approved for the Capital one...I put my salary at 64k yearly which is probably I got 2k credit line...go for it man you have a longer history than I do...its all uphill from here keep us posted....ill be checking back!

Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

feras04 — Tue, 30 Oct 2012 22:39:39 GMT

Do the classic platinum...did you select Average score when you did the pre check...ya do the classic plat its 39 a year you wont regret it

Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

Anonymous — Tue, 30 Oct 2012 22:47:55 GMT

Yes that is great to get a new credit card after bankruptcy thats how i felt when i got approved for capital one platinum with 1000 credit line and 6 months later they have raised it to 3000 yay lol!

Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

feras04 — Thu, 01 Nov 2012 06:48:17 GMT

lol thats awesome, so if your at 3 now, where will i be at in 6 months? because they started me out at 2k so you think they'll bump me up to 5k maybe? lol

Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

coreyb80 — Thu, 01 Nov 2012 13:30:36 GMT

Congrats OP and a great start! I'm expecting my discharge in the next few weeks and I will probably apply for Cap 1 as well.

Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

lizz01 — Sun, 08 Jun 2014 00:52:51 GMT

Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

holhat — Mon, 09 Jun 2014 20:20:48 GMT

I am curious which bureau Cap One uses. I am 3 months out of BK and my scores vary quite a bit. Regardless, I am low to mid 600's. I did the Cap One pre-qualification that says doesn't hit your credit and applied for the card they suggested. I was immediately denied and Cap One left 3 inquiries. Awesome.
Also denied Barclay's Priceline card.
Feeling very discouraged...

Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

Anonymous — Tue, 10 Jun 2014 15:16:13 GMT

@holhat wrote:
I am curious which bureau Cap One uses. I am 3 months out of BK and my scores vary quite a bit. Regardless, I am low to mid 600's. I did the Cap One pre-qualification that says doesn't hit your credit and applied for the card they suggested. I was immediately denied and Cap One left 3 inquiries. Awesome.
Also denied Barclay's Priceline card.
Feeling very discouraged...

Cap One pulls all three on credit apps. So that is why you will have an inquiry on all three reports. Most companies only pull one bureau. I don't know which one they pull for pre-approvals though.

Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

holhat — Wed, 11 Jun 2014 00:10:56 GMT

I think I'm going to call and ask for recon. I've read that alot of people who have been denied had success at this level.

Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

Anonymous — Tue, 12 Aug 2014 16:35:32 GMT

Omg...it worked.

Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

holhat — Thu, 14 Aug 2014 15:52:14 GMT

Great! What did you do exactly? I still can't seem to obtain ANY credit. I was even declined by Fingerhut! Fingerhut, ha!

Re: Discharged Chapter 7 last week, APPROVED FOR CREDIT CARD TODAY

Anonymous — Fri, 21 Nov 2014 22:23:20 GMT

Hello all,

my Chapter 7 BK was discharged on 11/05/14. There's one old paid off account on my credit report that I had for about a year. It's an auto loan from 2008 and I was late about 3-4 times. There are also two catalog accounts that I never used, and they're still showing for paid as agreed but closed. My EQ is 513 as odd last week. I've applied form red it cards but have only been approved for $230 at Fingehut. Maybe I applied too early? The denial letters are showing reasons such as bankruptcy and too many accounts not hat were not paid as agreed. Any thoughts?