BK7 Discharge Imminent - I can't decide which path/card is right?

[Horseshoez]

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@99BMWM3 wrote:

I called DCU and was told no card for at least 2 years. Wright-Patt was really vague and said there's no specific amount of time and they look at "the totality of the application." 

I think I'm going to garden for 6 months and then app for PenFed PCR. I've seen data points of people being approved as soon as 3 months post-DC so I think once I make my big move and have employment, then I'll try. Unless I should wait until I've been employed at least 90 days, which would push us into February/March-ish?

My alternative is I fly down to DC and deal with SDFCU in-person for a secured card that graduates to an unsecured. Did some looking and found plane tickets in September for $80, which is cheaper than I can drive. Alternatively I can snag a Delta flight for something like 10,000 SkyMiles and I have 70,000 of them just collecting dust. 

I think $80 in travel expenses is a small price to pay for peace of mind with a guaranteed approval -- plus there's some really great food in DC I haven't had in a loooong time. 

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Another option which I don't remember if we've discussed is a Navy Fed nRewards secured credit card; I don't know if you have the option of joining Navy Fed, but that credit card is wide considered to be one of the best secured credit cards out there.

[99BMWM3]

I burned Navy big time in my BK - they made up around 60% of the discharged amount. It hurts because they were so generous and workable.

So I *could* possibly get that card, I just need a dump truck full of cash to make amends with them. 

[Horseshoez]

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@99BMWM3 wrote:

I burned Navy big time in my BK - they made up around 60% of the discharged amount. It hurts because they were so generous and workable.

So I *could* possibly get that card, I just need a dump truck full of cash to make amends with them. 

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Got it, I'm in the same boat with AMEX; totally understand.

[Dj4Money]

 Whatever I drove in and started my rebuild while my BK was pending.

 No pre-paid cards this time around, I went with high interest, low starter credit limit cards, less money out of pocket route.

 7 Cards total, I started with First Premier, Total and First Access. The last two are both Bank of Missouri. Legacy and Blaze are both First National Bank (SD) as well. 

 As of today -

 1) First Premier - Started with $300 CL, CLI to $500 after BK was one year old, paid $25. Eligible for 2nd account if desired.

 2) Total Visa Card - Started with $300 CL, denied line increase three times

 3) First Access Visa Card - Started with $300 CL, denied line increase twice

 4) Legacy Visa Card - Started with $750, recent CLI to $1000 total ($250)

 5) Blaze Mastercard - Started with $750, recent CLI to $1000 total ($250)

 6) Credit One Bank (Burned in BK) - started with $2000 CL, haven't tried to get a line increase yet

 7) Millstone Gold Mastercard - started with $400 CL, most recent card.

 * CFNA (Firestone) card - $1000, no interest for six months (bought tires)

  I had planned to use the majority of my first draw PPP to pay down these cards to 8% but as things worked out, I only paid them down to 29% and recently that has gone back up to 41% based on activity first of June 2021.

 A car was needed so I bought a 2020 Kia Forte GT June 2020, applied and approved via Capital One twice (burned card accounts in BK).

 Score is 660-665 across the board with 8% of balances after one and half years.

 DTI is 21%

[99BMWM3]

Hello everyone! I hope your summer has been going well. 

Bad news: I'm no longer moving cross-country, went thru a pretty nasty breakup a few weeks ago. 

Good news: I'm in with SDFCU! I drove down to Washington for a little 2-day visit, and while they thought I was slightly crazy for driving all that way to get into the CU, I got in! Deposited $750 and apped for the secured card, instant approval. 

According to the disclosure, my EX Fico2 (IIRC, the paper isn't in front of me at the moment) was 689. 

They *did* have to get an override for my membership as I was told I was "right on the line for credit", not sure if this would be because of score or recent BK. 

Nonetheless, hoping to see the card in my mailbox this week. 

I charged the heck out of CapOne on my vacation in June, actually woke up to an email from them one day about declined charges because hotel holds put me OVER my limit. I made a $1,000 payment to fix that... got the first statement for over $2k and PIF the day they emailed it. 

Have since ran another $1K thru the card, not sure if I PIF now or wait for July statement to cut in a few weeks. 

Discover I've used less, rather sticking to the 30% rule and PIF. But I did just use it the other day for 60% of the limit and immediately PIF. 

Is the credit score model SDFCU uses fairly well adopted by other lenders or is it more niche, kinda like when PenFed was still using NextGen?