topic Re: Ch 7 Bankruptcy discharged, now what... in Bankruptcy

Ch 7 Bankruptcy discharged, now what...

Anonymous — Mon, 11 Feb 2019 01:12:57 GMT

Long story short, I received a wage garnishment from hell mid 2018, and forced me into bankruptcy with a 736 credit score. (Ridiculous stuff...long story)

Discharged October 2018.

Denied today for 3 different SECURED cards!
Capital one, discover, and citi all declined me.
Score shows 581-585.

I have a checking account with Chase. But didn’t see a secured card on their site.

What is crazy to me is I’m getting declined for these $2-300 secured cards but have much greater amounts in the bank and on hand. Just looking for ways to boost my score so I can buy a house in a few years.

I was trying to avoid a card with an annual fee.

Thanks for any advice.

Re: Ch 7 Bankruptcy discharged, now what...

CashBackQueen — Mon, 11 Feb 2019 01:26:19 GMT

Try OpenSky. It's secured, no credit check, reports regularly. There is, I believe, a $35 annual fee, but that's much better than other cards like First Premier and Credit One whose fees are more than a hundred dollars. It's a great card to start with and before you know it you'll be getting approved for better cards, like Capital One's Platinum starter unsecured card (which you can later upgrade to the rewards Quicksilver)

Good luck!

Re: Ch 7 Bankruptcy discharged, now what...

pizza1 — Mon, 11 Feb 2019 01:39:32 GMT

Welcome to the forums!

First and foremost, before you apply for anything else, you need make sure all three of your CRA reports are reporting correctly. Pull all your reports from the CRA themselves, TU, EQ, and EXP.

Your BK7 in the PR section should say discharged, and the date.

All your accounts the were IIB need to to be $0 bal/IIB notation.

Once your reports are reporting correctly, then check the pre-qual on Cap One and Discover.

Who did you burn in your BK, and what type of account or loan, and amounts?

Re: Ch 7 Bankruptcy discharged, now what...

Anonymous — Mon, 11 Feb 2019 20:02:18 GMT

Ok, all previous accounts are showing zero balance. Discharge date was 10/29/18.

I did have capital one cards and a discover IIB, never had a citi. The biggest amount was discover for $3k. They have stated the reason for denial is “a recent bankruptcy “

No prequals show up, but they both recommended the secured card. Looks like I’m gonna have to try this open sky card... ugh.. I hate this lol

Re: Ch 7 Bankruptcy discharged, now what...

Fx6cowboy — Mon, 11 Feb 2019 22:03:08 GMT

Try Opensky and Greendot. Max secured limit for both are $3,000 and $5,000 if you’re needing room with a decent deposit credit limit.

Re: Ch 7 Bankruptcy discharged, now what...

Anonymous — Wed, 20 Feb 2019 02:57:24 GMT

Ok... UPDATE:

Applied for a secured card with a local credit union. They declined me, with notes that say “Recent Bankruptcy, Hasn’t re-established credit after bankruptcy “

That’s what I’m trying to do!!!!!! OMG this is depressing. I guess I’m just gonna use cash like I’ve been doing for the past 6 months. :::sigh:::

Re: Ch 7 Bankruptcy discharged, now what...

FireMedic1 — Wed, 20 Feb 2019 08:51:50 GMT

@Anonymous wrote:
Ok, all previous accounts are showing zero balance. Discharge date was 10/29/18.

I did have capital one cards and a discover IIB, never had a citi. The biggest amount was discover for $3k. They have stated the reason for denial is “a recent bankruptcy “

No prequals show up, but they both recommended the secured card. Looks like I’m gonna have to try this open sky card... ugh.. I hate this lol

Thats why in red you were declined. Cap1 will forgive around 1 year out. Open Sky for now. Good Luck!

Re: Ch 7 Bankruptcy discharged, now what...

Anonymous — Thu, 21 Feb 2019 04:02:18 GMT

There are some sites that will show you cards that you are preapproved for so that you don't waste credit pulls. CreditKarma is one of them.

My bankruptcy just discharged today and they showed me preapproved for CreditOne and Lendup Arrow. I got both of them, Lendup Arrow I was approved without an annual fee, Creditone I was approved with a $30-something annual fee. Limits were $500 and $750. Kinda crappy, but, just happy that the fees aren't awful. Going to stop there and wait a few months before applying for anything else.

Re: Ch 7 Bankruptcy discharged, now what...

Anonymous — Sun, 09 Feb 2020 17:01:56 GMT

Update: credit is now showing around 670.

declined for capital one platinum and Citibank double cash today.

currently have Ollo card and credit one.

reminder- bk discharged October 2018.

was hoping to add 1 more card to my collection why credit continues to grow, but it's proving difficult to find one...

Re: Ch 7 Bankruptcy discharged, now what...

Anonymous — Sun, 09 Feb 2020 17:39:29 GMT

@Anonymous wrote:
Update: credit is now showing around 670.

declined for capital one platinum and Citibank double cash today.

currently have Ollo card and credit one.

reminder- bk discharged October 2018.

was hoping to add 1 more card to my collection why credit continues to grow, but it's proving difficult to find one...

I got approved for Mission Lane. See if you can get preapproved with them.

Re: Ch 7 Bankruptcy discharged, now what...

Tuscani — Sun, 09 Feb 2020 19:14:51 GMT

I suspect Mission Lane or Credit One would let you in. Odd you would get denials on the secured cards though.

Re: Ch 7 Bankruptcy discharged, now what...

Anonymous — Sun, 09 Feb 2020 19:29:52 GMT

I currently have a Credit One and Ollo Card.

Re: Ch 7 Bankruptcy discharged, now what...

Tuscani — Sun, 09 Feb 2020 19:40:20 GMT

Hmm.. I feel your scores should be higher than upper 500s at this point. You are sure all accounts were reporting IIB and $0? What is your util? Any installment tradelines?

Re: Ch 7 Bankruptcy discharged, now what...

Anonymous — Sun, 09 Feb 2020 19:44:51 GMT

I gave an update on my situation today in an earlier post in this thread. My credit now averages around 670 as of 2/9/20.

I've had 2 cards for about a year now.

Ollo card $2100 limit. No annual fee.

Credit One $700 limit. I think a $39 annual fee.

But I was just declined a capital one and a Citibank card this weekend.

my bk discharged October 2018.

thanks

Re: Ch 7 Bankruptcy discharged, now what...

Tuscani — Sun, 09 Feb 2020 19:52:27 GMT

Oh sorry! I missed the update. You could try and add the Mission Lane and then you will be good. Follow AZEO. Did you burn disco? Check their pre-qualify.

Also add Self Lender for installment or at this point you should be able to get a small personal loan from a local credit union pretty easily. Maybe even a credit card from them given you are upper 600s. But each credit union has their own waiting periods with BK.

Re: Ch 7 Bankruptcy discharged, now what...

Anonymous — Sun, 09 Feb 2020 19:53:16 GMT

Okay, I'll give it a shot. Thanks for taking the time to give me info. I'm going to check out some local credit unions this week.

Re: Ch 7 Bankruptcy discharged, now what...

Tuscani — Sun, 09 Feb 2020 19:52:47 GMT

GL! Keep us updated.

Re: Ch 7 Bankruptcy discharged, now what...

Anonymous — Sun, 09 Feb 2020 20:15:21 GMT

Got approved for Mission Lane card, $1000 limit.

Re: Ch 7 Bankruptcy discharged, now what...

AllZero — Sun, 09 Feb 2020 20:30:59 GMT

@Anonymous wrote:
Got approved for Mission Lane card, $1000 limit.

Congratulations on your approval!

Re: Ch 7 Bankruptcy discharged, now what...

Anonymous — Mon, 10 Feb 2020 01:01:29 GMT

Congrats on the approval! I was just denied for that same citi card, are you doing the prequalify first before applying?