Building after discharge

[Birdie82]

I’ve been reading about rebuilding after discharge. My understanding is that I will need an installment loan and maybe 2 credit cards . My MOC was on 6/26 and I had to get a replacement car , I was approved for a Honda financed by consumer portfolio services at 13%. Not ideal but after 6 months , I’ll try to refinance it with my Credit union . Here are the credit cards that I’ve burned :
NFCU
USAA
Capital one for $2300
Wells Fargo .
Thanks for the help in advance.

[pizza1]

I would start with a Discover secured, and try Merrick after your DC. Forget NFCU, you would have to pay them back completely in full before they would ever consider credit again, and even then you have to jumps thru major hoops.

Forget USAA for a minimum of 5 yrs post DC, their policy.

Capital One, start checking their pre-quals after DC. If they offer you secured, take it,  its a way back in with them. If they offer you unsecured, take it.

WF, forget for a few years.

All the other main banks like Citibank, Chase, AMEX, etc..forget them as well. They have strict policies on BK.

You only 3 cc's and a loan of some sort for rebuilding. Your car with be the loan (also, if you have school loans, those count as well)

Try that first then report back....But make sure your reports are in order first...all your accounts IIB should reflect $0 balance/IIB on each account.

[Birdie82]

I’ll do just that after discharge. Thank you.