topic Re: Starting over after Chp 7 Just discharged 10/22 in Bankruptcy

Starting over after Chp 7 Just discharged 10/22

tk-2018 — Thu, 03 Nov 2022 20:30:21 GMT

In the Bk. the following were burned: Credit One, Merrick, Amex, Capital One, Discover , Apple Card

First one post DC: Ollo (1k SL) not sure what cc to look for next I kept two autoloans one is nearly paid off and other i had a really low interest rate on but that was through my local C/U and they didn't seem to update the fact im keeping it and paying on it each month while the other one did. So I'm trying to figure out which and what to go for next since discover was one of the ones burned.

Re: Starting over after Chp 7 Just discharged 10/22

tk-2018 — Thu, 03 Nov 2022 21:02:39 GMT

Forgot to mention that i was also approved for a Verge card 750 SL which doubles in 6 months of on time payments just not sure if i want to accept it. Any opinons on this for a second of the three cards to start with?

Re: Starting over after Chp 7 Just discharged 10/22

DogwoodLynx — Fri, 04 Nov 2022 01:04:04 GMT

@tk-2018 wrote:
Forgot to mention that i was also approved for a Verge card 750 SL which doubles in 6 months of on time payments just not sure if i want to accept it. Any opinons on this for a second of the three cards to start with?

Congrats!

My discharge is next month.

Never heard of verge so no idea on that one.

Do you qual for Navy Federal? They have a secured card that supposedly graduates.

Check Mission Lane?

@FireMedic1 what say you?

Re: Starting over after Chp 7 Just discharged 10/22

tk-2018 — Fri, 04 Nov 2022 01:08:56 GMT

@DogwoodLynx wrote:
@tk-2018 wrote:
Forgot to mention that i was also approved for a Verge card 750 SL which doubles in 6 months of on time payments just not sure if i want to accept it. Any opinons on this for a second of the three cards to start with?
Congrats!

My discharge is next month.

Never heard of verge so no idea on that one.
It has a 99 dollar annual fee that they charge to start with which I was approved for 750 and at six months supposed to double to 1500 just dunno if the 99 annual fee is worth it or not. So I have yet to activate that one .

Do you qual for Navy Federal? They have a secured card that supposedly graduates. I would because my dad was in the navy but I don't think he had any idea about his documents and he isn't a member so don't know how that works so I was looking at maybe PenFed instead

Check Mission Lane?
I just applied there today but it said declined due to the inability to verify my credit references not even sure what that means as I never seen that before.

@FireMedic1 what say you?

Re: Starting over after Chp 7 Just discharged 10/22

FireMedic1 — Fri, 04 Nov 2022 09:38:31 GMT

Everything goes by the file date. DC means nothing but the case is closed. So you can change your siggy to when you filed. Forget Disco for a long time. Might have to go the secured route since Merrick and Credit1 were burned. Cap1 is forgiving. You could try for the Plat. Dont get greedy and go for the "One's". Goal is 3 revovling credit accounts. Name and CL means nothing right now. Time to build the foundation for the new home (credit) to build on. Open Sky is also a good rebuilder. No HP I beleieve.

Re: Starting over after Chp 7 Just discharged 10/22

DogwoodLynx — Fri, 04 Nov 2022 09:41:00 GMT

@tk-2018 wrote:
@DogwoodLynx wrote:
@tk-2018 wrote:
Forgot to mention that i was also approved for a Verge card 750 SL which doubles in 6 months of on time payments just not sure if i want to accept it. Any opinons on this for a second of the three cards to start with?
Congrats!

My discharge is next month.

Never heard of verge so no idea on that one.
It has a 99 dollar annual fee that they charge to start with which I was approved for 750 and at six months supposed to double to 1500 just dunno if the 99 annual fee is worth it or not. So I have yet to activate that one .

Do you qual for Navy Federal? They have a secured card that supposedly graduates. I would because my dad was in the navy but I don't think he had any idea about his documents and he isn't a member so don't know how that works so I was looking at maybe PenFed instead

Check Mission Lane?
I just applied there today but it said declined due to the inability to verify my credit references not even sure what that means as I never seen that before.

@FireMedic1 what say you?

Give Navy Fed a call and they can walk you through membership. They are very nice folks over there.

Re: Starting over after Chp 7 Just discharged 10/22

MileHigh96 — Fri, 04 Nov 2022 12:48:58 GMT

Open a savings account with PenFed, they are very BK friendly. As I've mentioned before around the forum, 3 months post BK discharge I opened a savings account with them. Then 4 months post discharge I did a cold app for their Pathfinder rewards card and was approved with a $6K limit.

There is also Mercury to consider, they usually have a high interest rate, but if you keep the balance low or pay it off every month, it's a viable option.

Since you burned CapOne, it may take awhile to get back in with them, but they will eventually forgive you. Some people seem to get in 6 months post discharge, others it takes longer. It took 14 months post discharge for them to approve me. Every time prior to that, I got the message that I wasn't pre-approved for anything because of my past CapOne accounts. And then last month, CapOne approved me for a second card, the Savor One. So if you can just hold out awhile there and periodically check the pre-approval portal, they will eventually let you back in.

Re: Starting over after Chp 7 Just discharged 10/22

tk-2018 — Mon, 07 Nov 2022 23:57:33 GMT

@MileHigh96 wrote:
Open a savings account with PenFed, they are very BK friendly. As I've mentioned before around the forum, 3 months post BK discharge I opened a savings account with them. Then 4 months post discharge I did a cold app for their Pathfinder rewards card and was approved with a $6K limit.
I just opened a savings account with them. So now just gotta send some money there since it don't seem that they are close to me.

There is also Mercury to consider, they usually have a high interest rate, but if you keep the balance low or pay it off every month, it's a viable option.
This seems to be an invite only option so it looks like i need to get an invite from them somehow.

Since you burned CapOne, it may take awhile to get back in with them, but they will eventually forgive you. Some people seem to get in 6 months post discharge, others it takes longer. It took 14 months post discharge for them to approve me. Every time prior to that, I got the message that I wasn't pre-approved for anything because of my past CapOne accounts. And then last month, CapOne approved me for a second card, the Savor One. So if you can just hold out awhile there and periodically check the pre-approval portal, they will eventually let you back in.

Re: Starting over after Chp 7 Just discharged 10/22

MileHigh96 — Tue, 08 Nov 2022 18:14:21 GMT

I believe that I got my Mercury card invitation to apply through either Credit Karma or through Experian.

Re: Starting over after Chp 7 Just discharged 10/22

Creditrecipe — Tue, 08 Nov 2022 20:47:07 GMT

Follow the bk to 700 sticky (insert your 3 card choices) and you will be set.

It is a process but worth it in the long run. I am 18 months out of ch 7 and am at 682.

Re: Starting over after Chp 7 Just discharged 10/22

tk-2018 — Sat, 12 Nov 2022 22:23:03 GMT

So currently have two cards and have opened a savings account with PenFed .

I have not managed to get a third yet hopefully free these other two report on my credit report maybe I'll be to get an invite from mercury or another card to fulfill that third card .

Re: Starting over after Chp 7 Just discharged 10/22

tk-2018 — Mon, 14 Nov 2022 02:10:51 GMT

do you recall if you had anything reporting on your reports at the time of your PenFed application for the pcr card? Also what kinda of credit scores were you looking at the. I haven't pulled my FICOs yet but I'm sure they still pretty low since nothing new has started to report yet the only things reporting are my two car payments which have never been late but they were kept through the bankruptcy which the second one recently just updated to show it's been current and being paid on time this whole time so that did give the FAKO scores a slight boost

@MileHigh96 wrote:
Open a savings account with PenFed, they are very BK friendly. As I've mentioned before around the forum, 3 months post BK discharge I opened a savings account with them. Then 4 months post discharge I did a cold app for their Pathfinder rewards card and was approved with a $6K limit.

There is also Mercury to consider, they usually have a high interest rate, but if you keep the balance low or pay it off every month, it's a viable option.

Since you burned CapOne, it may take awhile to get back in with them, but they will eventually forgive you. Some people seem to get in 6 months post discharge, others it takes longer. It took 14 months post discharge for them to approve me. Every time prior to that, I got the message that I wasn't pre-approved for anything because of my past CapOne accounts. And then last month, CapOne approved me for a second card, the Savor One. So if you can just hold out awhile there and periodically check the pre-approval portal, they will eventually let you back in.

Re: Starting over after Chp 7 Just discharged 10/22

MileHigh96 — Mon, 14 Nov 2022 14:19:58 GMT

@tk-2018 wrote:
do you recall if you had anything reporting on your reports at the time of your PenFed application for the pcr card? Also what kinda of credit scores were you looking at the. I haven't pulled my FICOs yet but I'm sure they still pretty low since nothing new has started to report yet the only things reporting are my two car payments which have never been late but they were kept through the bankruptcy which the second one recently just updated to show it's been current and being paid on time this whole time so that did give the FAKO scores a slight boost
@MileHigh96 wrote:
Open a savings account with PenFed, they are very BK friendly. As I've mentioned before around the forum, 3 months post BK discharge I opened a savings account with them. Then 4 months post discharge I did a cold app for their Pathfinder rewards card and was approved with a $6K limit.

There is also Mercury to consider, they usually have a high interest rate, but if you keep the balance low or pay it off every month, it's a viable option.

Since you burned CapOne, it may take awhile to get back in with them, but they will eventually forgive you. Some people seem to get in 6 months post discharge, others it takes longer. It took 14 months post discharge for them to approve me. Every time prior to that, I got the message that I wasn't pre-approved for anything because of my past CapOne accounts. And then last month, CapOne approved me for a second card, the Savor One. So if you can just hold out awhile there and periodically check the pre-approval portal, they will eventually let you back in.

At the time of my PenFed app, I had Mission Lane, Ollo, and Mercury reporting, those were my first three cards I got after discharge. Also, my re-affirmed auto loan was reporting as well. I don't remember what my FICO's were at the time, but they couldn't have been terribly high, I'm guessing low to mid 600 range, somewhere in there.

Re: Starting over after Chp 7 Just discharged 10/22

tk-2018 — Mon, 14 Nov 2022 15:28:44 GMT

I got two autos now reporting and waiting for ollo to start reporting believe I got my first statement about to post for ollo ... did you deposit more than one time into your savings ? I believe my FICOs are probably atleast around where yours were at the time of your app. I will prob wait til atleast my third month having my pen fed savings account and plan to deposit into it atleast every two weeks ..

@MileHigh96 wrote:
@tk-2018 wrote:
do you recall if you had anything reporting on your reports at the time of your PenFed application for the pcr card? Also what kinda of credit scores were you looking at the. I haven't pulled my FICOs yet but I'm sure they still pretty low since nothing new has started to report yet the only things reporting are my two car payments which have never been late but they were kept through the bankruptcy which the second one recently just updated to show it's been current and being paid on time this whole time so that did give the FAKO scores a slight boost
@MileHigh96 wrote:
Open a savings account with PenFed, they are very BK friendly. As I've mentioned before around the forum, 3 months post BK discharge I opened a savings account with them. Then 4 months post discharge I did a cold app for their Pathfinder rewards card and was approved with a $6K limit.

There is also Mercury to consider, they usually have a high interest rate, but if you keep the balance low or pay it off every month, it's a viable option.

Since you burned CapOne, it may take awhile to get back in with them, but they will eventually forgive you. Some people seem to get in 6 months post discharge, others it takes longer. It took 14 months post discharge for them to approve me. Every time prior to that, I got the message that I wasn't pre-approved for anything because of my past CapOne accounts. And then last month, CapOne approved me for a second card, the Savor One. So if you can just hold out awhile there and periodically check the pre-approval portal, they will eventually let you back in.

At the time of my PenFed app, I had Mission Lane, Ollo, and Mercury reporting, those were my first three cards I got after discharge. Also, my re-affirmed auto loan was reporting as well. I don't remember what my FICO's were at the time, but they couldn't have been terribly high, I'm guessing low to mid 600 range, somewhere in there.

Re: Starting over after Chp 7 Just discharged 10/22

MileHigh96 — Tue, 15 Nov 2022 17:37:15 GMT

I was depositing into my PenFed savings every 2 weeks when I got paid.

Re: Starting over after Chp 7 Just discharged 10/22

tk-2018 — Wed, 16 Nov 2022 03:30:08 GMT

Any idea what penfed pulls fico score model wise my fico 9 bankcard scores are much higher than my fico 8 scores.

Re: Starting over after Chp 7 Just discharged 10/22

MileHigh96 — Wed, 16 Nov 2022 15:40:08 GMT

I honestly don't remember what FICO score they pulled when I applied or from which credit bureau. Sorry.

Re: Starting over after Chp 7 Just discharged 10/22

FireMedic1 — Wed, 16 Nov 2022 22:25:03 GMT

@tk-2018 wrote:
Any idea what penfed pulls fico score model wise my fico 9 bankcard scores are much higher than my fico 8 scores.

They pulled EQ for me in Fl. Plus I believe its a couple yrs post BK before approval. I got them at 4yrs. Not that I was trying befoehand.

Re: Starting over after Chp 7 Just discharged 10/22

tk-2018 — Sat, 03 Dec 2022 15:42:58 GMT

Well an update to the process of my rebuild finally got the third card approval got a Misson Lane card before was having issues with address verification which it might have had something to do with the fact that everything was still updating on my credit reports and not to long ago i moved about 5 months ago and some reports were still reflecting my old address. Disputed the old address and they removed it and updated to my current address.

so now I have the three cards needed to start building the foundation to the recovery. While also building my relationship with pen fed putting in bi weekly deposits into my savings account I opened there. hopefully i have a pre-approved offer from them in the not to distant future.

Re: Starting over after Chp 7 Just discharged 10/22

DogwoodLynx — Sat, 03 Dec 2022 17:52:06 GMT

Most Excellent!