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Chapter 7 discharged! Now to rebuild. Suggestions?

anniea4001
Contributor

Chapter 7 discharged! Now to rebuild. Suggestions?

2 months and 2 days later I have finally received my Chapter 7 discharge. 

EQ updated today. Waiting on the other RAs and for accts to be updated so I can start rebuilding.

 

So far CapOne gives me pre approval for 3 cards : platimun no AF, Quicksilver $39 AF and secure.

Mission lane has been showing on my CreditKarma for like 2 months now with a pre approval for their no AF card.

I was wondering what other cards might be good for rebuilding. Will not entertain OpenSky, would rather wait. I am trying to get cards that will grow so I do not have to close them later and lose all the history. 

Already have auto loan and student loans so do not need any installment loans. 

 

Burned Discover for like $250 because well, you are not allowed to keep any cards (sad). I really loved them and I bank with them. 

Also included Credit One but only had $20 balance at the time of filling. 

Everything else was repo auto loan and medical bills. 

 

I became a member of Penfed in hopes that maybe 6-12 months from now they will show some love with a credit card. 

I would absolutely love a care credit, express or amazon card as those have lots of use for me but I am unsure of how BK friendly they are so if anyone could offer some data points, that would be awesome.

TIA

21 REPLIES 21
luvsandyshores
Regular Contributor

Re: Chapter 7 discharged! Now to rebuild. Suggestions?

I went with Mission Lane and Ollo for my first cards after discharge.  They seemed better than CreditOne and Milestone, who started sending me offers while I was still in bk. 

 

I hear that after 6 months on-time payments both ML and Ollo give auto CLIs. Both were no-fee, and one of them is no interest first few months but I forget which - I pay everything off before the statements cut anyway so it doesn't really matter to me.

 

Also, I got Care Credit while I was in my ch13 so I imagine you should be able to qualify for it post-bk.

CH13 confirmed 1/2016
Message 2 of 22
anniea4001
Contributor

Re: Chapter 7 discharged! Now to rebuild. Suggestions?

@luvsandyshores thanks for the feedback 

 

I had credit one before and I was not very happy with them. They are probably the last one on my list at this time. I would not recommend them to anyone.

I have heard of Ollo but I believe that is by invite only right?

OMG, I so would love to get care credit again. I had them years ago when I was younger and did not undertsand credit and they closed my acct for inactivity. But that would be so helpful right now that I am about to get lasik. 

I think I am gonna wait a few months before trying care credit, just to build some history. 

Message 3 of 22
Horseshoez
Established Contributor

Re: Chapter 7 discharged! Now to rebuild. Suggestions?

@anniea4001, I'm thinking of the three CapitalOne cards, the no-fee Platinum card is the most desirable and the most upgradeable once you've built some history with them.  I opened one of their secured cards last year after my discharge and closed it after only six weeks; it didn't fit with my lifestyle at all, that and there are persistent reports graduating to an unsecured card is very difficult.  Regarding the QuicksilverOne card, I've heard it can be pretty hard to get that card upgraded as well.

 

I've heard fair to middling reports on the no-fee Mission Lane card; might be worth a look.  As a final option, if you are able to get into Navy Federal Credit Union, there are lots of really good reviews on their secured credit card on this forum.  Many other credit unions, but by no means all, have secured offerings which are worth a look if you cannot get into NFCU.

 

Good luck on your rebuild; keep us posted.

I categorically refuse to do AZEO!

Message 4 of 22
anniea4001
Contributor

Re: Chapter 7 discharged! Now to rebuild. Suggestions?

@Horseshoez 

I have read the same about CapOne cards in this forum, that is why I am going for the platimun, plus no AF so it's a keeper for the long run.

 

Sadly I do not qualify for Navy Fed, no relatives, friends or anyone that I know of for me to join.

I have read tons of great stuff here about PenFed, that is why I joined 2 months ago hoping to build a relationship and apply maybe next year for a card with them. Got a savings with them and I have been putting a little money here and there. 

 

I am interested on knowing how BK friendly Synchony and Commenity are. I have not had any products from them is forever but I would not mind a card or 2. 

Message 5 of 22
Horseshoez
Established Contributor

Re: Chapter 7 discharged! Now to rebuild. Suggestions?


@anniea4001 wrote:

@Horseshoez 

I have read the same about CapOne cards in this forum, that is why I am going for the platimun, plus no AF so it's a keeper for the long run.

 

Sadly I do not qualify for Navy Fed, no relatives, friends or anyone that I know of for me to join.

I have read tons of great stuff here about PenFed, that is why I joined 2 months ago hoping to build a relationship and apply maybe next year for a card with them. Got a savings with them and I have been putting a little money here and there. 

 

I am interested on knowing how BK friendly Synchony and Commenity are. I have not had any products from them is forever but I would not mind a card or 2. 


Good plan regarding PenFed!

 

Regarding Synchrony and Comenity (sp? for both), I've never used them, however, my wife got a bunch of them after her Chapter 7; we don't view them as "keepers", but they did help her build her credit scores.

I categorically refuse to do AZEO!

Message 6 of 22
anniea4001
Contributor

Re: Chapter 7 discharged! Now to rebuild. Suggestions?

So I got impatient and pulled the trigger on CapOne. Approved for 3k!!!! No AF, so this will be a keeper just for credit history 

I am over the moon. 

CapOne was good to me when I had them years ago. 

Now to garden for 6 months I go so I can app for another card.

I currently have a Tomo Card that is reporting on EQ only. Crossing my fingers that It decides to report to the other 2 RAs. So I will let things coll down, discharge report correctly everywhere and get some payment history with CapOne before my next app. 

 

Smiley Very Happy

Message 7 of 22
anniea4001
Contributor

Re: Chapter 7 discharged! Now to rebuild. Suggestions?

Also EX has updated and score went up 20 poitns!!!!! Currently on the low 600s. Now just waiting on TU. 

Message 8 of 22
Horseshoez
Established Contributor

Re: Chapter 7 discharged! Now to rebuild. Suggestions?

Congratulations @anniea4001, that is so awesome!  I'm thrilled for you.

I categorically refuse to do AZEO!

Message 9 of 22
kittycreditmeow
Frequent Contributor

Re: Chapter 7 discharged! Now to rebuild. Suggestions?

Not sure how the petal cards are towards bankruptcy, I think they have a prequal though. Comenity is Bk friendly. I think your approach is smart though, I have (4) too many sub prime cards with annual fee's. I think I'll wait to close them but ultimately I have no plans on keeping them long term. 

Credit Cards, Loans & Store Cards

Bank and Credit Union Memberships


Available Credit - $10,600
Util: 16%. Inquiries: TU: 43 EX: 31 EQ: 22
Gardening Until: March 28, 2023
AaOA: 1 Year & 6 Months

Fico 8 Scores Current as of March 2021

Fico 8 Scores Post BK

Bankruptcy Discharged: November 1, 2019
Message 10 of 22
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