Discharged Ch7! Approvals and data points.

[Anonymous]

Just want to give a quick update and share some valuable information with everyone. I was discharged from my Chapter 7 bankruptcy 11/07/2016. Today I applied for credit one and was approved for 300 SL unsecured credit card. Credit One did a hard inquiry from all 3 CRA.

Next I applied at PenFed for the unsecured Visa and was declined. I immediately called to Recon and the loan officer said my score was 584 based upon their next-gen 2.0 credit scoring system. The rep recommended that I apply for the overdraft line of credit. I was instantly approved for 500 credit limit. The Rep used my initial inquiry from the credit card. So I only got one hard pull from Equifax!

[Anonymous]

Congratz on Your Discharge,

and getting your foot in the door with Pen Fed.

If my memory is correct, the Next Gen score cut off for PenFed is 620.  I only learned after approval with a 622.  Be patient with them, as you will benefit down the road.

So for you have made great progress.

Now the Waiting Game begins.

Having a plan with clarity on what you want, and when you want/ can get approved, and Waiting until your scores are at the point to be approve.

Best Wishes ! ! !

.

[empressj]

Congratulations on your discharge!🎉 I was discharged today, Friday 13th 😂

[Anonymous]

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@Anonymous wrote:

Congratz on Your Discharge,

and getting your foot in the door with Pen Fed.

If my memory is correct, the Next Gen score cut off for PenFed is 620.  I only learned after approval with a 622.  Be patient with them, as you will benefit down the road.

So for you have made great progress.

Now the Waiting Game begins.

Having a plan with clarity on what you want, and when you want/ can get approved, and Waiting until your scores are at the point to be approve.

Best Wishes ! ! !

.

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Agree 1000% - you best move right now is to do absolutely nothing and let those age - you're already ahead of the game, but you might want to occupy your time with

a bit of light reading

Have fun!