topic Re: Finally got CH7 Discharge, now looking to rebuild! in Bankruptcy

Finally got CH7 Discharge, now looking to rebuild!

Anonymous — Fri, 06 Mar 2020 15:11:45 GMT

Got divorced took all marital debt (didn't want to but oh well); filed bankruptcy, starting rebuild.

My discharge was 1/29/2020 I was added as an AU on Us Bank Signature Visa with a 10k limit, I app'd for Navy Federal Secured nRewards at $200 just to have something in my name, I also have student loan debt in IBR (Income Based Repayment) but because I work for the goverment I am in the forgiveness program hopefully its still active when I hit my ten year mark. The student loans are not reporting yet since the bankruptcy got filed. I was told they will start reporting again after they register the discharge.

I am looking to rebuild and have read about the AZEO Method but can't find the original post so I can follow it. Would someone have the link so I can access it? Also since I have a Navy Federal account what are my odds of a 91/3 new card application and approval? I was just approved for the nRewards card on 2/28/2020 approximately one month after DC. To be honest I feel like I should have applied for the nonsecured card but didn't think about that until after the fact.

Should I wait until graduation to app for a non-secured card or apply at teh 91/3 mark?

Thanks for all your help! I love this forum.

Starting Scores (MyFico):

592 Equifax

519 Transunion

568 Experian,

Re: Finally got CH7 Discharge, now looking to rebuild!

Anonymous — Fri, 06 Mar 2020 15:38:59 GMT

@Anonymous wrote:
Got divorced took all marital debt (didn't want to but oh well); filed bankruptcy, starting rebuild.
My discharge was 1/29/2020 I was added as an AU on Us Bank Signature Visa with a 10k limit, I app'd for Navy Federal Secured nRewards at $200 just to have something in my name, I also have student loan debt in IBR (Income Based Repayment) but because I work for the goverment I am in the forgiveness program hopefully its still active when I hit my ten year mark. The student loans are not reporting yet since the bankruptcy got filed. I was told they will start reporting again after they register the discharge.

I am looking to rebuild and have read about the AZEO Method but can't find the original post so I can follow it. Would someone have the link so I can access it? Also since I have a Navy Federal account what are my odds of a 91/3 new card application and approval? I was just approved for the nRewards card on 2/28/2020 approximately one month after DC. To be honest I feel like I should have applied for the nonsecured card but didn't think about that until after the fact.

Should I wait until graduation to app for a non-secured card or apply at teh 91/3 mark?

Thanks for all your help! I love this forum.

Starting Scores (MyFico):
592 Equifax
519 Transunion
568 Experian,

I don't have the AZEO link but the method is simple:

- get 3 revolving lines (credit cards, secured it not doesn't matter, they just all have to report to the CRAs)

- pay 2 down to zero before their statements cut

-keep one card at 8.9% usage

you might try discover secured. It graduates in a few months of regular payments. They have a prequal link so you don't get a HP right away. If you're approved no AF and you get cash back on purchases

some "good " starter cards that have been working for me: Blaze, Merrick, indigo. They have high apr and AF but you only need them a year to get better cards and since you're doing the AZEO method you don't have to pay any interest

good luck!

Re: Finally got CH7 Discharge, now looking to rebuild!

Anonymous — Fri, 06 Mar 2020 15:45:16 GMT

I burned Discover and Merrick so I'm trying to work with credit unions I have existing relationship with now.

I can try for a share secured loan too I guess, just trying to keep bills to a minimum. I want to build credit again but not use it really. The US Bank Signature Visa is reporting a balance of $1,300 with a $10,000 limit so 13% utilization (Authorized user). The nRewards card from Navy Federal will not carry a balance. I also have student loans that will be reporting again as good because I was always in IBR so they have always been positive tradelines. Is this enough credit or should I get another ccard and a secured personal loan?

Re: Finally got CH7 Discharge, now looking to rebuild!

Anonymous — Fri, 06 Mar 2020 15:59:29 GMT

If you've got student loans reporting you do not need any loans (like self lender etc)

not sure what other cards you IIB but keep trying those prequals. You never know, even discover might let you in (Amex chase citi, not so much).

you just need 3 CCs to report, 2 @$0 and 1 @8.9%, and a loan installment for the ideal fico algorithm as far as I know

Re: Finally got CH7 Discharge, now looking to rebuild!

Anonymous — Fri, 06 Mar 2020 16:05:05 GMT

Ok great and thank you so much for your help!

My 3 cards reporting:

AU ~ US Bank VIsa (does this count as an AZEO contributing card?)

Secured Navy Federal nRewards Visa

Bridge Federal Credit Union cash rewards (just app'd for it but rep said I have a good chance of getting it) score with them is 688

If Bridge FCU doesn't approve me I will do a secured card instead with them hopefully one pull is all they'll do.

Again thank you so much for your help!

Re: Finally got CH7 Discharge, now looking to rebuild!

Harriet — Fri, 06 Mar 2020 16:29:28 GMT

FYI I was able to get both NFCU secured cards. Got a 200$ visa and a week later applied and approved for a 200$ MasterCard.

For my third card I got a Ikea Visa from Comenity Capital Bank, 550$ limit. My score were all low 600's, 601ish. Has good rewards and I like the store.

Re: Finally got CH7 Discharge, now looking to rebuild!

FireMedic1 — Sat, 07 Mar 2020 00:17:44 GMT

@Anonymous wrote:
Ok great and thank you so much for your help!

My 3 cards reporting:
AU ~ US Bank VIsa (does this count as an AZEO contributing card?)
Secured Navy Federal nRewards Visa
Bridge Federal Credit Union cash rewards (just app'd for it but rep said I have a good chance of getting it) score with them is 688
If Bridge FCU doesn't approve me I will do a secured card instead with them hopefully one pull is all they'll do.

Again thank you so much for your help!

Once you get the 3 cards. Have the one in your name as the primary cardholder be the one that reports the 1 balance. Not the AU card. Good Luck!