topic Re: New Guy and my situation in Credit Cards

New Guy and my situation

Anonymous — Thu, 26 Mar 2015 06:43:26 GMT

Im 42. I used to own a home, various vehicled, mid 700's credit. I then got divorced. IN 2007 i just stopped paying on all of my debts. My ex wife declared bankruptcy and i was left with all of our debt. I thought if i just waited 7 years my credit would just reset. LOL. Well alot of the larger bills kept re-upping the credit hit on my report and as i was getting closr to the 7 year mark i started getting threats from lawyers and some even served me a summons.

I declared Chapter 7 bankruptcy in January 2013. My credit was about 575 then. I have since gotten a car loan for 13000in October 2013, My apr is 13.5, and i got a 300 dollar credit limit from credit one in March 2013. I have been paying on those faithfully and now my credit limit is 950 with crdit one and soon i hope to refinance my car.

My current transunion is 636 and my current equifax is 650. My credit utilization on the card is almost always under 10 percent. I pay an extra 50 dollars on the car loan every month and every once in a while i send in a couple hundred to the principal. I have 27 inquiries on transunion ( about half will melt off by June) and 9 inquiries on equifax. This info comes from credit karma

Im really nursing my credit. I have a few grand in savings and my checking account is plush. Im remarried now and my wife and i have little debt. One car, and about a hundred bux on the credit one card i will payoff next check.

My credit score has been going up 5-10 points every month for the most part. I want to start gardening soon but i dont have enough credit . I was told i could get a Barclays fairly easily (credit karma said very good approval odds) I also read about the card on here and thought i would have a good shot. I applied online and they said theyd send me a decision in 7-10 days.

So i have been trolling these forums for a while. It really has helped. Id like to get a few more cards without suffering alot of hhits especially to transunion. I was considering a secured card or two . Maybe a department store or gas card?

Id love some advice, maybe some direction. Should i apply for some new cards? How long before i try to refi the vehicle, or should i?

I thank you guys in advance.

Re: New Guy and my situation

Kostya1992 — Thu, 26 Mar 2015 08:33:37 GMT

Dang, sorry all that happened to you. That sucks. But life happens to us all, I guess.

How recent are those 26 inquiries? Which banks did you burn in BK?

It looks like you had some time to establish a payment history with Credit One & your car loan since 2013.

If I were you I would start with the Cap1 pre-qualifer and see what you get there: https://findmycard.capitalone.com/en/PageVersions/LandingPages/LP_UNS_QUICK_RWD_V01.aspx

Call Barclays and ask them if they need any additional information on your application, try to justify that you're rebuilding and have been through difficulties: 24/7 analyst number. 866-951-1437

Next I would try various store cards such as Wal-Mart and maybe a gas station card.

And I'm sure you've been lurking the forums, not trolling

Re: New Guy and my situation

Anonymous — Fri, 27 Mar 2015 02:40:07 GMT

Thank you for the advice. I was mistaken, my bankruptcy was discharged in march of 2014. I discharged capital one, discover, ge financial and come to find out a barclays apple card.

I called barclays and they were very nice. An agent looked into my credit score and i thought i might be good. He said no because im only a year out from my bankruptcy and he would like to see more time away from that event.

I may just garden another year and see what happens. My credit one is near a thousand and i have a car loan that im paying on time and extra on every month.

I appreciate your time. Yes i was scrolling not trolling lol

Re: New Guy and my situation

Callandra — Fri, 27 Mar 2015 02:45:44 GMT

Definitely look into Cap1...with your scores, QS1 should be possible or you can go for the regular Platinum. If there's a store you shop at a lot, it might be worth a shot. Look at Shopping Cart Trick threads to see if any of the stores might meet your fancy (since those are usually issued by Commenity and I didn't see them in your burned list). If you want a secured card, SDFCU is a good choice (no hard pull) although it will never unsecure.

Good luck!

Re: New Guy and my situation

ecxpa — Fri, 27 Mar 2015 03:10:05 GMT

I feel your pain......been there done that! I would try some store cards that can morph into MC........Wal-Mart can get upgraded to MC, so can Sams Club, Old Navy and JC Penney. I would feel out other Synchrony Bank cards also, Amazon is a useful card, Ebates Visa, and Ebay MC grow fast. I started rebuilding with these cards and continue to use them today with respectable credit lines all above 5K.