Hello My Fellow Fico Members,
Just wanted to let everyone know on how I got a Discover Card 1 month after my BK. I received my discharge on 01/2015. The first step was to validate that my credit was cleared of all derogatories and that it showed "BK Discharged". Near the ending of 02/2015 I applied for a Discover Card and was denied. However, it gave me the option of opening a Secured Credit Card which I promptly did. Discover will allow you to deposit anywhere from $200 - $2,500 and is refundable after 12 months with perfect credit history. I opted to deposit $1,000 dollars and managed the card like crazy, never exceeding 30% utilization and PIF every month.
On 03/2016, Discover returned my deposit but keeped my $1,000 limit with no CLI. I went another year with no luck receiving any type of increase and I finally called them on 02/2017. I explained that I had been with them for 2 years and have never had an increase and that I was doing everything possible to build my credit back up. They agreed and gave me a $2500 limit on the spot. Right around 04/2017, I decided to push the luv button, and to my amazement, they approved it for $4300.00. I was shell shocked since for 2 years they wouldn't even touch my limit. I was beginning to think they hated me. Anyway, I read some other posts which stated that you can try Discover luv button every 3 months. So on 07/2017, I pushed the luv button and they increased it to $7300.
Finally, I called Discover on 11/01/2017 and talked to a representative and told them that I was really concerned about my utilization and with Christmas coming up, I was concerned that it would rise above 50%. The representative promptly thanked me for looking ahead and granted me another $2500 which raised my limit to $9800. Just wanted everyone to know that with a little time and patience, you can all reach your goals. Granted it took nearly 3 years to get to this point, but it was worth the wait. Along the way, I got on all my wife's credit cards as an authorized user and have got 2 Barclay cards because of it. Barclay Rewards 3K and Barclay Arrival 10K.
Well on my way to establishing my credit.
