Chapter 7 Stress (I'm trying to rebuild)

[Anonymous]

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.

[Anonymous]

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

[Anonymous]

Ok! Great Thanks so much I appreciate your help 

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@Anonymous 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-p/1384075 and http://ficoforums.myfico.com/t5/Bankruptcy/Bankruptcy-Friendly-Credit-Cards-Pt-2/td-p/3999737

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[Anonymous]

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

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@Anonymous 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-p/1384075 and http://ficoforums.myfico.com/t5/Bankruptcy/Bankruptcy-Friendly-Credit-Cards-Pt-2/td-p/3999737

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[nothopelessyet]

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!