topic Re: Just applied for my first card since BK7 in Bankruptcy

Just applied for my first card since BK7

Malike — Tue, 03 Dec 2019 22:10:52 GMT

I was discharged in June. I had my Delta Skymiles Amex survive the BK7 and never had any late payments prior to filing. I started a self lender loan in July which gave me a bump in in my CS. I decided to try for 1 more card and applied for the OLLO cash back card and got approved for 3,000. I think I am going to sit on these a while. Is that a sound plan? 5 months post BK7 and my EQ is 666, TU 619, and EX 649. Am I on the right path?

Re: Just applied for my first card since BK7

twono — Tue, 03 Dec 2019 22:39:59 GMT

@Malike wrote:
I was discharged in June. I had my Delta Skymiles Amex survive the BK7 and never had any late payments prior to filing. I started a self lender loan in July which gave me a bump in in my CS. I decided to try for 1 more card and applied for the OLLO cash back card and got approved for 3,000. I think I am going to sit on these a while. Is that a sound plan? 5 months post BK7 and my EQ is 666, TU 619, and EX 649. Am I on the right path?

Looking good for sure. My situation is similar....DC'd in early Oct. Kohls survived $3000, student loans take care of the 'installment loan' part of fico, and i obtained credit one $2000 and Ollo for $1100. Ollo hasn't reported yet and scores are 638 EQ, 615 EX and 605 TU.

In my non-expert opinion, i think i would go ahead and get a 3rd card. Take the hit now and let everything age together. The 3rd card will boost your score as well.

I'd try for an EQ and EX friendly credit card since those are your highest scores.

Good luck.

Re: Just applied for my first card since BK7

FireMedic1 — Wed, 04 Dec 2019 01:02:40 GMT

Nice. Who got burned? So far so good.

Re: Just applied for my first card since BK7

Malike — Wed, 04 Dec 2019 05:42:44 GMT

All of the usuals. Chase, Cap one, Citi, Barclays, synchrony.

Re: Just applied for my first card since BK7

FireMedic1 — Wed, 04 Dec 2019 10:28:51 GMT

Thanks. In 6 months after building some history since DC. Hit up Disco. I'm sure they'd like to have you in their system since they werent part of your BK. Theres your 3rd card. Keep us updated please! Good Luck!

Re: Just applied for my first card since BK7

coreyb80 — Wed, 04 Dec 2019 20:19:18 GMT

Congrats on the approval and sounds like you're on the right path!

Re: Just applied for my first card since BK7

Malike — Wed, 04 Dec 2019 22:09:17 GMT

Thanks for the support all. @firemedic I never burned disco, I had a disco card that I never used and they eventually closed the account I think due to no usage. I don't know if that will stack against me.

EDIT: I just saw I was pre qualified for a discover it card and applied. Approved for 10,000. Time to let the garden grow. Thanks so much for all the suggestions folks.

Re: Just applied for my first card since BK7

Tuscani — Wed, 04 Dec 2019 22:15:10 GMT

WOW! Well done

Re: Just applied for my first card since BK7

Anonymous — Fri, 06 Dec 2019 19:34:46 GMT

@Malike - Excellent quick rebuild! Sit on your hands for at least 6 months and let your accounts age. Way to go

Re: Just applied for my first card since BK7

FireMedic1 — Fri, 06 Dec 2019 21:54:11 GMT

@Malike wrote:
Thanks for the support all. @firemedic I never burned disco, I had a disco card that I never used and they eventually closed the account I think due to no usage. I don't know if that will stack against me.
EDIT: I just saw I was pre qualified for a discover it card and applied. Approved for 10,000. Time to let the garden grow. Thanks so much for all the suggestions folks.

Holy smokes! CONGRATS!!!!!! @Malike Now thats a massive SL! Way to go!

Re: Just applied for my first card since BK7

Malike — Sat, 07 Dec 2019 00:33:14 GMT

Thanks so much, everyone. Without these forums and the support and knowledge of all of you fine folks, I would have been totally lost. It did not go unnoticed that I had two hard pulls, though. My score dropped 2 points on EQ, the others haven't updated yet.