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Ch 7 Bankruptcy discharged, now what...

New Visitor

Ch 7 Bankruptcy discharged, now what...

Long story short, I received a wage garnishment from hell mid 2018, and forced me into bankruptcy with a 736 credit score. (Ridiculous stuff...long story)

Discharged October 2018.

Denied today for 3 different SECURED cards!
Capital one, discover, and citi all declined me.
Score shows 581-585.

I have a checking account with Chase. But didn’t see a secured card on their site.

What is crazy to me is I’m getting declined for these $2-300 secured cards but have much greater amounts in the bank and on hand. Just looking for ways to boost my score so I can buy a house in a few years.

I was trying to avoid a card with an annual fee.

Thanks for any advice.

Message 1 of 6
Regular Contributor

Re: Ch 7 Bankruptcy discharged, now what...

Try OpenSky. It's secured, no credit check, reports regularly. There is, I believe, a $35 annual fee, but that's much better than other cards like First Premier and Credit One whose fees are more than a hundred dollars. It's a great card to start with and before you know it you'll be getting approved for better cards, like Capital One's Platinum starter unsecured card (which you can later upgrade to the rewards Quicksilver)

Good luck!
BK7 DC 1/2/2018

Business Credit: Uline Net 30, Quill Net 30, Capital One Spark, BP (Fleetcor) Net 12

Starting Score: 512 Experian Fico 1/7/2018
Current Score: EXP 633 // TU 631 // EQ (unknown)
Goal Score: 700+ across the board by 2020

Seedling planted 1/7/19, gardening indefinitely.
Message 2 of 6
Community Leader
Super Contributor

Re: Ch 7 Bankruptcy discharged, now what...

Welcome to the forums!

First and foremost, before you apply for anything else, you need make sure all three of your CRA reports are reporting correctly. Pull all your reports from the CRA themselves, TU, EQ, and EXP.

Your BK7 in the PR section should say discharged, and the date.

All your accounts the were IIB need to to be $0 bal/IIB notation.

Once your reports are reporting correctly, then check the pre-qual on Cap One and Discover.

Who did you burn in your BK, and what type of account or loan, and amounts?

Scores held down by umpteen INQ & New accounts, and a paid off loan and new loan reporting.
~~~BK7 d/c-08/ rebuild worked for me, but won't necessarily work for you.~~~
Message 3 of 6
New Visitor

Re: Ch 7 Bankruptcy discharged, now what...

Ok, all previous accounts are showing zero balance. Discharge date was 10/29/18.

I did have capital one cards and a discover IIB, never had a citi. The biggest amount was discover for $3k. They have stated the reason for denial is “a recent bankruptcy “

No prequals show up, but they both recommended the secured card. Looks like I’m gonna have to try this open sky card... ugh.. I hate this lol
Message 4 of 6
Valued Member

Re: Ch 7 Bankruptcy discharged, now what...

Try Opensky and Greendot. Max secured limit for both are $3,000 and $5,000 if you’re needing room with a decent deposit credit limit.

Starting November 2018 after BK Ch7 discharge - scores mid 400s
(Jan 2019 EQ 622 TU 592 EX 589) Total Revolving Credit $23,300

NFCU secured $5,000, DISCOVER IT secured $2,500, OpenSky $3,000, Unify (western) FCU secured $2,500, Capital One Platnium $300, Greendot secured $200, New Coast Direct $5000, MyJewelersClub $5,000 (Never late,PIF monthly)

Installments: Auto, Student loans (4 total accounts never late)

Collections: 0

Utilization: 41% (goal 6% year around)

Inquiries: EQ 23 TU 27 EX 19

Goal: 740 (EQ,TU,EX, by November 2020)
Message 5 of 6
New Visitor

Re: Ch 7 Bankruptcy discharged, now what...


Applied for a secured card with a local credit union. They declined me, with notes that say “Recent Bankruptcy, Hasn’t re-established credit after bankruptcy “

That’s what I’m trying to do!!!!!! OMG this is depressing. I guess I’m just gonna use cash like I’ve been doing for the past 6 months. :::sigh:::
Message 6 of 6