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1st credit card after Ch 7, now what?

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Valued Member

1st credit card after Ch 7, now what?

i moved to a new state, got divorced and lost my job and had to file for bankruptcy unfortunately all in one year. I was discharged in 10/2018, haven’t done anything on my credit since. Found out yesterday that only 1 out of my 3 tradelines that I was banking on to help rebuild is reporting on all 3 bureaus. Just the student loan. May be able to get mortgage to start reporting again since it is a joint loan with ex husband who did not file bankruptcy and I had reaffirmed on my end and kept it current through Bk.

After pulling all my 3 reports I decided to give cap1 prequal a try. Unfortunately it said it couldn’t offer me any card suggestions at this but suggested their platinum MasterCard may be a good card for me so I figured to hell with it and gave it a try. I was approved with a $3k credit limit. YAY! Not bad for first card. I may need one more card then garden for 6 months to help rebuild.

If that’s a good idea, any particular bank you’ll recommend? I burnt most of the major ones (Amex, citi, chase, discover) in my BK.

Current financial pic
Current scores: low 600s all 3 (not sure of exact numbers).

Income: $153k annual
Student loan: $200/month (9k bal)
Mortgage: $2600/month (joint borrower)
Car note: $833/month (2% interest, 30k bal reaffirmed through bk but not sure since not reporting)
Message 1 of 6
5 REPLIES 5
New Contributor

Re: 1st credit card after Ch 7, now what?

Congrats on your approval! Did you include cap1 in your BK?
10/12/18: Discharged from BK7
10/15/18: EX 541 | TU 490 | EQ 555
6/7/19: EX 625 | TU 624 | EQ 655

Message 2 of 6
Valued Member

Re: 1st credit card after Ch 7, now what?

No, but I burned all the other major ones so trying to figure out which other card to get to make the best of my rebuild.
Message 3 of 6
New Contributor

Re: 1st credit card after Ch 7, now what?

If you have a way to join NFCU I have read that they are very good to try and get into with a secured card, as it is common to see them unsecure and give a cli after a while. I was discharged in October and currently have Credit One and a Discover secured, but will be going for nfcu secured next month.
10/12/18: Discharged from BK7
10/15/18: EX 541 | TU 490 | EQ 555
6/7/19: EX 625 | TU 624 | EQ 655

Message 4 of 6
Valued Member

Re: 1st credit card after Ch 7, now what?

I’ll check. I do have a NFCU account and I’m an authorized user on my brother’s cards so will try my luck with them next. I think I’ll try to surrender my car if it isn’t reaffirmed and try for a car with lower car payment.
Message 5 of 6
Contributor

Re: 1st credit card after Ch 7, now what?

Congrats on your approval. SDFCU has a great secured cc that you can apply for. Good luck with your rebuild journey.


In the garden until 12/11/2019
Goal is 720+
11/15/17 EQ 591 TU 469 EX 545 FICO 8
12/25/18 EQ 676 TU 669 EX 659 FICO 8
EQ 8 INQ l TU 10 INQ l EX 14 INQ I
BK 7 Discharge 12/2017
Message 6 of 6
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