1 Year Post BK 7 - Help! How do I rebuild my credit?

[Anonymous]

My summarized journey and now seeking advice on how to move forward from here...

I filed BK7 9/9/2016 it was discharged 12/28/2016... I burned 5 Comenity bank accounts (ashley stewart, lane bryant, avenue, harlem furniture & zales) 6 synchrony bank accounts (capital one, amazon credit, walmart, bill me later converted to paypal, jcpenney & care credit) I also had a target account (TD bank), dell account (web bank), SST credit card by Synovus and a loan via lending club (web bank). I retained my auto "lease" loan debt and still paying that with no problems.

I added myself to my daughters secure capital one card as an authorize user  about 2 month post BK7 discharged (her card has now changed to a unsecured card).

I applied for and was denied my own secured capital one card 6 months post BK7 discharged  and I applied and was denied a walmart card 6 months post BK7 discharged but I was not working only receiving unemployment benefit wages so I assumed that was the reason for denial.

Tomorrow I will officially be 1 year post BK 7 discharge and I am now working still paying on my auto "lease" loan, student loan and remain as an authorized user on my daughters unsecured capital one platinum mastercard $600 CL. My current credit scores are: TU 682 EQ 691 EX 645 my goal is to obviously increase all scores to at least 700+.

I was thinking of re-applying for a capital one secure card but im not sure if I should. I supposedly have excellent approval odds for a Capital One QuickSilverOne Cash Rewards credit card w/$39 AF and excellent approval odds for a Ollo Platinum Mastercard with $0 AF.

Any suggestions or recommendations on who or where I should attempt to apply for credit to build my scores and maintain a healthy credit score/report?

TU 682 EQ 691 EX 645

[chosen4th]

Cap 1 has a pre qualify page, go there first.. so does chase, AmEx and others.. go there so you dont put an inquiry on your report without knowing.. let us know your results

[Anonymous]

Okay, after completing a  Capital One Pre-Qaulified offer application it came back with the following: Capital One Platinum Preferred $0 AF 0% APR for 9 months - 17.99% variable APR rate after the 9 months. We also suggest: Platinum $0 AF and QuickSilver One Rewards $39 AF both with a 24.99% variable APR rate.

Which card offer would be best to apply to? 

[Shooting-For-800]

When Cap One gives you a prequal with interest rate and not interest rate range, you are 99% ready to go.

Congrats.  Pick a card, use it, pay it and check for CLI and another prequal in 6 months.

Cap One can be quite rewarding to those who are loyal and make large payments more than once a month.

[Anonymous]

Update ....

I applied for the prequalified offer Capital One Platinum Preferred card and I received:

Thank you for submitting an application for a Capital One credit card! Notification of your application status will typically be sent in 7 to 10 business days; however, in certain circumstances it may take up to 15 days.

I then said well let me try the Capital One Secured Mastercard and I received:

We can't approve you for this card today...

We know you're disappointed, and we've explained why we couldn't approve you in a letter you'll receive within 7-10 business days.

So I assume I am now waiting until I receive something in the mail... Does anyone know any phone numbers I maybe can call to speak with someone to assist them in making the decision to approve me for one of these cards if not both?

Btw today marks the 1 year anniversary date of my BK7 being discharged.  (BK7 discharged 12/28/2016).

TU 682 EQ 691 EX 645

BK7 Filed 9/29/2016 & Discharged 12/28/2016

[Shooting-For-800]

I got the 7-10-15 day response for my last prequal application and they gave me $30k card at 13.9%.

99% chance you were NOT denied. 

I think they are slowing down instant approvals for security.

My guess is that you were approved for the first application and denied for the second because you can only open a new account every 6 months.  They probably did NOT pull your credit the second time.

Try 1-800-903-9177 to check on your application. 

I would NOT apply for any more cards right now.

Good Luck!

[Anonymous]

I've seen some get pretty good credit limits with Ollo card. If your approval odds are showing as good, I would go for it. You need at least 3 cards to start rebuilding. Maybe also get a secured card through a credit union.

[Anonymous]

Do you have any recommended credit unions? I'm in the Atlanta Ga area?

[Anonymous]

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@Anonymous wrote:
Do you have any recommended credit unions? I'm in the Atlanta Ga area?

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DCU - not sure about the graduation. You can always apply for an unsecured card after a few months.