Discover secured card?

[CJIII1983]

How long would have to wait to apply for the Discover secure card after a chp 7 bankruptcy?  I burned them in bankruptcy, i owe them around $2000 but the last update I got the account reads 0 balance.

[FireMedic1]

Its reporting correctly with 0 balance now since they were included in your BK. You can start trying around a year out or more.

[CJIII1983]

I am thinking about wait a couple of years to rebuild, because I am planning on going to community college to study construction technology.

[pizza1]

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@CJIII1983 wrote:

I am thinking about wait a couple of years to rebuild, because I am planning on going to community college to study construction technology.

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I wouldn't wait a couple of years to start rebuilding. YOu'll be that much further behind. You want to try and start fairly quickly, to gain positive accounts on your reports. You won't get Discover back for awhile, but I would try the Capital One pre-qual and see if it offers you anything. Or you can apply for a Secured Discover card, and see if they approve you for that one. Its important to have positive accounts after your DC reporting.

[CJIII1983]

So after I get my Discharge letter start rebuilding?

[pizza1]

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@CJIII1983 wrote:
So after I get my Discharge letter start rebuilding?

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Yes, get your DC letter first, and then make sure your credit reports are in order before you try to apply. All your accounts that were IIB should show closed/$0 balance/nad the notion IIB somewhere on the account.  Once thats done, try the pre-qual for Capital One and see what it shows you. Alwyas come back to the forums though first and ask questions before applying. YOu obviously will not be applying to Citibank, Amex, Chase, etc...

[CJIII1983]

My accounts read 0 balance now.