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Credit card suggestions after Bankruptcy!

Credit card suggestions after Bankruptcy!


Hello everyone, this is my first post! 
I filed for BK in 10/17, DC 02/18. Immediately after my BK I applied for an auto loan (biggest mistake ever) I was approved for a vehicle I've been 100% on time with for about 28 months. I forgot to include a store card that's been reporting zero balance same period. I was behind on my student loans and decided to bring them current in back in late December. At the time my score was 560. It's now EX 680, EQ 721, TU 721. I recently applied for the Discover IT chrome and was approved for $8000. They pulled both EX and EQ! I also applied through my credit union for a auto refinance loan from 16.53 to 5.99% on last week for 34 months on a $12,218 after putting down $3,118. I'm looking like most here to expand my credit profile again. What in my situation do you guys in your experience believe should be my next 5 cards. I know some have 15 plus cards but I don't honestly like to keep it simple. What is the go to cards in my situation do you guys recommend? 

Also, credit cards wasn't the reason for my bankruptcy. Miseducation and misinformation was involving my auto loan. 

5 REPLIES 5
JAG73
Moderator

Re: Credit card suggestions after Bankruptcy!

Next 5 cards? That's a loaded question bc it depends on what you are interested in. Typically cards are either cashback or travel/rewards oriented. Hopefully you will spread these 5 cards out a bit.

 

As for BK friendly, you can start here. https://ficoforums.myfico.com/t5/Bankruptcy/Bankruptcy-Friendly-Credit-Cards-Pt-2/m-p/3999737

Also, welcome to myfico! 

Got some pruning to do... No more new cards!
Message 2 of 6

Re: Credit card suggestions after Bankruptcy!

Thank you so much! Just a card for each category. 

Message 3 of 6
Shooting-For-800
Senior Contributor

Re: Credit card suggestions after Bankruptcy!

Cap One

Navy Fed

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $400k unsecured credit in 2021.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

5% Rotating - Discover                         5%-20% - Amazon & Lowes                   3-6% Groceries - NFCU & Amex Preferred
3-5% Gas - NFCU & Ducks Unl            4% Dining & Entertain - Savor               3% Travel & Hotels - Flagship, Propel, & Uber
2% Everything - Flagship, Synchrony, Evergreen, & Venture



Message 4 of 6
FireMedic1
Super Contributor

Re: Credit card suggestions after Bankruptcy!

Think of a catagory you want. Try the pre-qual. Spread apps out at a min of 6 months. No rush. It takes time. And depends on who got burned.





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 5 of 6

Re: Credit card suggestions after Bankruptcy!

It was about 4 or 5 cap 1 cards and the americard iib. I was in good standing with all my cards. Those balances were low. Some had no balances. I fell behind on my Jeep because my mother was put out of a apartment she was living with with her friend (I knew that wasn't going to last, I moved out at 17) he put all her stuff at my house in front of my door. Because my home was only meant for 4 people (my wife and 2 daughters) we had welcomed a 3rd kid my son which made it tight in my house. I was forced to move out and have both a house and apt til she got back on her feet. The rent, mortgage and car payments were killing me. I asked the bank if I could extend my months but they told me no, my rate was already low at 3.9 and I was falling behind with my bills then my brother moved in my house with my mom. I was 3.5 years in on my truck and owed $14000, after paying $20000+ y TY hey took it and said it will go to the auction for about $6000 and I'd be responsible for the rest. I couldn't honor that so I was advised to do BK to avoid being sued or having my wages garnished by a slick talking Geraci lawyer. 

Message 6 of 6
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