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@Anonymous wrote:
Well that ^^didn’t go as planned. I tried PenFed this week, 12 months post d/c and was denied BUT the loan officer suggested a secured Share Loan with them to build my credit some more, so I’m going to do that.
I was approved last week for a Discover It card with a $12K limit and for a Capital One Quicksilver. Not sure if the limit yet as I called the toll free number and got the app status after getting the 7-10 day review message followed by a call so they could verify that it was me who’d applied.
What are your scores looking like?
@Anonymous wrote:
Well that ^^didn’t go as planned. I tried PenFed this week, 12 months post d/c and was denied BUT the loan officer suggested a secured Share Loan with them to build my credit some more, so I’m going to do that.
I was approved last week for a Discover It card with a $12K limit and for a Capital One Quicksilver. Not sure if the limit yet as I called the toll free number and got the app status after getting the 7-10 day review message followed by a call so they could verify that it was me who’d applied.
Congrats! What are your Fico scores?
What do you do when you have literally burned every major bank pretty much? Lol. Here's my list of everyone I burned:
American Express
Bank of America
Barclays
Capital One
Chase (burned them biggg time lol)
Citi
Comenity (PayPal Credit)
Discover
Huntington Bank
Lake Michigan Credit Union
Synchrony (Lowes....for only $150 smh)
I was discharged 10/3/17. Already approved for Credit One for $500. What should my next course of action be since I burned everyone and their mother? Lol
Get an Open Sky secured card. They do not do a credit check and they report to all 3 credit bureaus as being unsecured (even though they are secured).
take out a starter self loan at a CU for some nominal amount, like $500.00 and/or If you do not have a car loan, consider getting one.
wait a few months and then try for the Cap1 secured card. It's possible you might be able to get a Cap1 sooner.
Cap1 also reports to all 3 credit bureaus as unsecured.
Always pay your balances on time and in full every month. Never let your utilization go above 9% of your CL.
when your scores rise and you have a few months of activity on your trade lines, then you can consider adding other cards.
@Kb109 wrote:
What do you do when you have literally burned every major bank pretty much? Lol. Here's my list of everyone I burned:
American Express
Bank of America
Barclays
Capital One
Chase (burned them biggg time lol)
Citi
Comenity (PayPal Credit)
Discover
Huntington Bank
Lake Michigan Credit Union
Synchrony (Lowes....for only $150 smh)
I was discharged 10/3/17. Already approved for Credit One for $500. What should my next course of action be since I burned everyone and their mother? Lol
Try Merrick - they have a preapproval site. Also you didn't post your scores so if your EQ is 650 plus, open an account with Penfed and apply for a Promise card. If you are eligible for Navy Fed Credit Union, open an account and choose a card you like.
If you need a plan to rebuild, go wiith this thread - very helpful: http://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/td-...
I started with "Open Sky secured card" when my credit score were in low 400's - 500's and no one would give me a secure/unsecure credit card. In my humble opinion I belive that it is too early to apply for Penfed...I was declined several time in one yr. Of course YWMV. Does'n hurt to try newly Discover pre-approval site, or capital one, wish you all the best and quick recovering .
@Kb109 wrote:
What do you do when you have literally burned every major bank pretty much? Lol. Here's my list of everyone I burned:
American Express
Bank of America
Barclays
Capital One
Chase (burned them biggg time lol)
Citi
Comenity (PayPal Credit)
Discover
Huntington Bank
Lake Michigan Credit Union
Synchrony (Lowes....for only $150 smh)
I was discharged 10/3/17. Already approved for Credit One for $500. What should my next course of action be since I burned everyone and their mother? Lol
I burned Cap One for about 13k. Three weeks after discharge they approved me for a card with a 3k SL. I know I was very lucky (I was also an AU on a few of my wife's cards and she has very good credit), but you never know.
Thank you all so much for your helpful advice!! I applied and was denied for a Capital One secured card (I know, I jumped the gun way too quick) due to "recent delinquencies" with them. I was never delinquent with them or any creditor prior to my filing, but I understand. Thankfully it was only a soft inquiry. I'll try again after 4-6 months of positive payment history with my two crappy cards lol.
Regarding USAA, I do not qualify at all even though my father works for the Department of Defense (as a civilian, and he's not a veteran). PenFed I am not sure what their requirements are. I may try for a secured card at my local credit union, but they are so stingy when it comes to lending even when I had 780+ scores. It's my own money I am borrowing against, so I do not understand why lenders are so quick to deny applications for secured cards. I will try with my credit union in a few months. I also found another CU in my area that offers a credit-builder type loan, which is also borrowing against my own savings, but I'll take what I can get at this point lol.