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Discharged Ch7! Approvals and data points.

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Established Member

Discharged Ch7! Approvals and data points.

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!
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Established Contributor

Re: Discharged Ch7! Approvals and data points.

 

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 ! ! !

.

05/03/16 Fico 8 Scores: EQ 546, TU 501, EX 548
09/01/16 Fico 8 Scores: EQ 662, TU 628, EX 657
10/04/16 Fico 8 Scores: EQ 692, TU 665, EX 686
01/15/17 Fico 8 Scores: EQ 706, TU 670, EX 687 * all Yellow / Good
Message 2 of 4
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Frequent Contributor

Re: Discharged Ch7! Approvals and data points.

Congratulations on your discharge!🎉 I was discharged today, Friday 13th 😂
Discharged Jan 2017
Rebuilding credit
Message 3 of 4
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Established Contributor

Re: Discharged Ch7! Approvals and data points.


@Sebastian503 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 ! ! !

.


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!

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