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Chapter 7 Stress (I'm trying to rebuild)

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Chapter 7 Stress (I'm trying to rebuild)

I am trying to rebuild, my bk was discharged in May of 2017. I willfully surrendered my vehicle, so I was able to get an auto loan ( my interest rate is high but I plan to refinance when I hit 5 months. I BURNED Credit one, Cpaital One, First Premier, Finger Hut, and a few more. My Score was at a 660, I only filed to get from under the horrible auto loan I had where I was paying $700 for a 2005 vehicle.  My question is, at this point, is my only option a secured card? Im just trying to rebuild. I have my new auto loan, but I need one card. Any advice please.

4 REPLIES 4
Valued Member

Re: Chapter 7 Stress (I'm trying to rebuild)

Welcome to myFICO and congrats on taking the first steps to rebuild! 

 

Capital One may let you back in right away, depending on when the account was charged off - if it was more than a year ago they may grant you a new unsecured cc right away. Most bk7 folks go for their Platinum card first.  If you're not sure, there's no harm in applying because if you're blacklisted, they won't pull your report anyway so you don't have to worry about wasting a hard inquiry.  

 

Other threads I'd suggest reading that are long but full of useful info:  http://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/td-... and http://ficoforums.myfico.com/t5/Bankruptcy/Bankruptcy-Friendly-Credit-Cards-Pt-2/td-p/3999737

 

 

 

BK7 discharged September 2015
Capital One Venture $16,000, Quiksilver $5800, Discover IT $6000, PenFed Power Cash Rewards $2500, J.Crew Store Card $2700
EQ 694 / TU 671 / EX 685 As of March 3rd 2018
Credit Goals: 700+ score, mortgage ready in 2020
Message 2 of 5
New Member

Re: Chapter 7 Stress (I'm trying to rebuild)

Ok! Great Thanks so much I appreciate your help 


@Sauternes wrote:

Welcome to myFICO and congrats on taking the first steps to rebuild! 

 

Capital One may let you back in right away, depending on when the account was charged off - if it was more than a year ago they may grant you a new unsecured cc right away. Most bk7 folks go for their Platinum card first.  If you're not sure, there's no harm in applying because if you're blacklisted, they won't pull your report anyway so you don't have to worry about wasting a hard inquiry.  

 

Other threads I'd suggest reading that are long but full of useful info:  http://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/td-... and http://ficoforums.myfico.com/t5/Bankruptcy/Bankruptcy-Friendly-Credit-Cards-Pt-2/td-p/3999737

 

 

 


 

Message 3 of 5
New Member

Re: Chapter 7 Stress (I'm trying to rebuild)

It was just discharged in May. I'm thinking it may be too soon.


@Sauternes wrote:

Welcome to myFICO and congrats on taking the first steps to rebuild! 

 

Capital One may let you back in right away, depending on when the account was charged off - if it was more than a year ago they may grant you a new unsecured cc right away. Most bk7 folks go for their Platinum card first.  If you're not sure, there's no harm in applying because if you're blacklisted, they won't pull your report anyway so you don't have to worry about wasting a hard inquiry.  

 

Other threads I'd suggest reading that are long but full of useful info:  http://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/td-... and http://ficoforums.myfico.com/t5/Bankruptcy/Bankruptcy-Friendly-Credit-Cards-Pt-2/td-p/3999737

 

 

 


 

Message 4 of 5
Established Member

Re: Chapter 7 Stress (I'm trying to rebuild)

Hi Renee1224! I had a Capital One card charged off years ago. I was approved for a $1000 unsecured card the same day my bk7 was discharged. I would recommend using their pre-qualify tool to see if you're blacklisted. Good luck!

Filed BK7 4/5, 341 5/17

4/21 FICO EQ 484
4/27 FICO EX 516
5/22 FICO EQ 524 9/12 FICO EQ 604
Message 5 of 5
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