@taxdoc wrote:
This is all personal opinion and YMMV. You'd probably be a prime candidate for the 700 FICO in 24 months (find the thread in this subforum). That journey may be a great way to rebuild.
To your specific question:
Discover - Do not reapply until you have at least 2-3 accounts reporting with 12 months history but definitely not withiin 91 days of your last denial.
Barclay - Prior data points show others being approved less than 12 months post D/C as long as some oher positive history is reporting.
Capital One - Yes, you can try for CLI after third statement and you'll probably get an auto increase at the fifth statement cycle.
BofA - If you have a banking relationship with them, that is a positive variable. However, if you IIB'd them, it may be increasingly difficult for that secured card to ever be eligible for a graduation. I would only go this route if you feel very strongly about rebuilding a relationship with them. It may take many years for them to offer you a secure product due to the former IIB. There is a secured card thread that contains a ton of valuable data points. The 700 FICO in 24 months does not support the secured card route approach. However, someone people may value certain banking relationships and secured card can be a gateway to a long term relationship.
After doing more reading here, I PC'ed my Cap One Plat to QS, then a few days later requested a CLI increase, which was granted (a small one). Thinking I was at the end of my credit good luck, I was going to stand put, but was told that I should apply for a Cap One QS1, which I did. Approved for that with a decent CL. I was going to do a Credit rebuilder load, but going to hold off on that for a bit. With 15 year old vehicles, a "new" car might be in the future. That would mean loan, I could do that with the wife as co signer (excellent scores). I have been reading 700 FICO in 24 and along with other threads, have been guided accordingly. This Board is such an invaluable resource of do's and especially don't's.
As for Barclay's and Discover:
I'm really happy where I am right now, I have two cards more than I thought, or ever believed I would or could have. I will use both of them a lot. Always paying them off as I go.
I've been reading where I could pull the trigger on both Barclay's and DIscover in a month or two, but I think I'm going to stand put until Jan 2017 or the one year mark. That would give me 11 months on one TL and 6 months on the other.
BOA and Chase, While I'd love to get back with them, as badly as they got burned (on CC and Credit Lines, I had two auto Loans that were PIF), I'm thinking if I do apply for anything with them, they would send a rep to my home just to laugh at me in person. I think I'll hold off on that dream for a real long time.
