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Approved for credit after discharge

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Approved for credit after discharge

I filed for bkcy in June, 341 in July, and was discharged in late September. I am starting my rebuilding process and wanted to share what has worked for me and what I’ve been able to get approved for.

-Car Loan through Consumer Portfolio Services in mid-October
-Fingerhut in October, $300 CL
-Indigo M/C in December, unsecured with $300 CL
-Kohl’s store card in Jan with $300 CL (IIB for about $900)
-Victoria’s Secret card in Jan with $250 CL (IIB with $0 balance)

So far I have been unsuccessful in getting pre-qualified for a card from any major creditor. Capital One will not take me back yet (2 cards for a total of about $3k IIB with Capital One).
Message 1 of 7
6 REPLIES 6
Valued Contributor

Re: Approved for credit after discharge

Time is on your side.....so glad you are starting Fresh with several approvals. Time to Garden, get your tools ready Smiley Very Happy
"My Take Home Pay Don't Take Me Home"
Message 2 of 7
New Member

Re: Approved for credit after discharge

My BK discharged was July 2018 my EX595 EQ573 and TR 560. I started rebuilding with credit one-$400 Langley Federal Credit Union (LFCU) secure card $500 and LFCU credit rebuilding loan $600. January 4 2019 I applied for capital one CC (I burned in BK) approved SL $3000 and Discover it CC $900 my current EX629 EQ624 TR602
Ch7 discharge 7/7/18
Starting Fico Equifax 580 TransUnion 578 Experian 589

CreditOne $400SL
Langley federal credit union $500SL
Langley federal credit rebuild loan $600
Message 3 of 7
Member

Re: Approved for credit after discharge

Congratulations on your success!

Message 4 of 7
Senior Contributor

Re: Approved for credit after discharge

Congratulations on your approvals!

Starting Scores FICO 8 (Feb '18):
EX- 519, TU- 530, EQ- 545

Current Scores



Message 5 of 7
Valued Contributor

Re: Approved for credit after discharge

Congratulations on your success so far. You are definitely on the right track.

 

After you MasterCard’s sixth statement closes, check Capital One and Discover for any preapprovals.  

 

You may also want to review the 24 months to 720 plan as a reference.  You got a solid base, just let those cards age perfectly for you.

 

Guyatthebeach

Message 6 of 7
Senior Contributor

Re: Approved for credit after discharge

You got 4 cards and an installment loan now. Time to garden for a while. You meet the limit for best FICO scoring. Save all your next inqs for at least 6-8 months. Use the cards and PIF except 1 at <8.99%. Then apply down the road. Cap1 is usually a year, some get in sooner. I'd check the pre-qual in July for Cap1 and Disco. Until then take care of what you got. Let the new accounts age and the inqs too. Good Luck!





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 7 of 7
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