topic Re: Credit one help in Bankruptcy

Credit one help

Anonymous — Thu, 16 Jul 2020 22:27:11 GMT

So my 431 meeting was about 4 weeks ago and I just applied for a credit one platinum card and was approved for 300$

But now I'm freaking out a bit because my chapter7 isn't discharged yet.

should I keep the credit one card now to rebuild my credit ? Or cancel it?

Re: Credit one help

Jnbmom — Thu, 16 Jul 2020 22:33:11 GMT

@Anonymous

It's already done so closing it won't help . But you really should not apply til after discharge, we preach that all the time .

You scores will get a little bump and you will have more choices .

I suggest you read the forums and learn the better way to rebuild .

Re: Credit one help

Anonymous — Thu, 16 Jul 2020 23:19:50 GMT

after your 341 meeting you should be fine. I got approved for a Cap1 before my discharge but after my 341.

Re: Credit one help

Anonymous — Fri, 17 Jul 2020 04:08:30 GMT

Thanks, what would happen if I don't activate the card or cancel when I get it in the mail?
I mean is the card that bad ?

Re: Credit one help

Anonymous — Sun, 02 Aug 2020 00:46:00 GMT

It's not a great card - they're known to be fee harvesters, but at the outset of a rebuild sometimes that's what's available. You'll find that your scores can start climbing pretty quickly and within a year, maybe even less, you'll qualify for better cards and will be able to get rid of this one.

Re: Credit one help

BungalowMo — Sat, 01 Aug 2020 23:36:34 GMT

I got one about 15 years ago when my scores were bad (kind of like now...DC was June 14!)

Not sure if it still works, but I recall after a couple months, I'd call the # & go through the phone prompts & select "limit increase" & they bumped it $100 every time & never a hard pull.

I want to say I'd call every month or two & it worked. Started out like you, at $300 & when I finally closed it, I had something like $2500. After a while, the increases increased too.