Bankruptcy Friendly Credit Cards Pt.2

[Anonymous]

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.

[kilj0y]

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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.

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What are your scores looking like?

[Anonymous]

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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.

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Congrats! What are your Fico scores?

[Kb109]

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

[Anonymous]

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.

[stinastina]

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@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

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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-...

[J-F168]

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 . 

[Anonymous]

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@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

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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. 

[Kb109]

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.