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Credit one help

88c36
Contributor

Credit one help

So my 431 meeting was about 4 weeks ago and I just applied for a credit one platinum card and was approved for 300$

But now I'm freaking out a bit because my chapter7 isn't discharged yet.

should I keep the credit one card now to rebuild my credit ? Or cancel it?



Message 1 of 6
5 REPLIES 5
Jnbmom
Community Leader
Senior Contributor

Re: Credit one help

@88c36 

 

It's already done so closing it won't help . But you really should not apply til after discharge, we preach that all the time .

 

You scores will get a little bump and you will have more choices .

 

I suggest you read the forums and learn the better way to rebuild .

EXP 758 TU 783 EQ 729
Message 2 of 6
JohnKenny
Contributor

Re: Credit one help

after your 341 meeting you should be fine.  I got approved for a Cap1 before my discharge but after my 341.

Message 3 of 6
88c36
Contributor

Re: Credit one help

Thanks, what would happen if I don't activate the card or cancel when I get it in the mail? 
I mean is the card that bad ?



Message 4 of 6
ImTheDevil
Community Leader
Super Contributor

Re: Credit one help

It's not a great card - they're known to be fee harvesters, but at the outset of a rebuild sometimes that's what's available. You'll find that your scores can start climbing pretty quickly and within a year, maybe even less, you'll qualify for better cards and will be able to get rid of this one.



Platinum NPSL | Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | FNBO Prime Visa | PenFed PCR | Navy cashRewards | Navy Platinum | Apple | IT Cash | IT Chrome | GHSFCU Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Sams MC | Firestone | Overstock | Kohl’s | Key Bank auto loan (2017 Audi A6 Premium Plus S-Line)





Message 5 of 6
BungalowMo
Senior Contributor

Re: Credit one help

I got one about 15 years ago when my scores were bad (kind of like now...DC was June 14!)

Not sure if it still works, but I recall after a couple months, I'd call the # & go through the phone prompts & select "limit increase" & they bumped it $100 every time & never a hard pull.

 

I want to say I'd call every month or two & it worked.  Started out like you, at $300 & when I finally closed it, I had something like $2500.  After a while, the increases increased too.



Starting Score: 02/2015 TU 709 - EQ 676 - EX 729
Current Score: 12/2017 TU 779 - EQ 779 - EX 782
Goal Score: 850

Bury me in the garden...last app 07.27.17

Message 6 of 6
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