Since your with BoA. You can go secured with them since they werent burned. It will graduate in most cases. Mission Lane is a good one too. They'll double your limit with good history. Cap1 will be 6-12 months till approval. For emergencies you need a savings account for now. Pay yourself first with 10% of your take home pay. It grows rather fast. By the time those 2 cards age. Time for Cap1. It will take a couple years to get on track for the better cards. Its prove yourself time to the other creditors. Since your with PENFED. Try to re-finance that auto loan while your at it. Cant rush a rebuild. Slow and steady wins the race. Just takes time. Congrats!
Ignore what CK says. Its marketing so they get paid......
@FireMedic1 wrote:Since your with BoA. You can go secured with them since they werent burned. It will graduate in most cases. Mission Lane is a good one too. They'll double your limit with good history. Cap1 will be 6-12 months till approval. For emergencies you need a savings account for now. Pay yourself first with 10% of your take home pay. It grows rather fast. By the time those 2 cards age. Time for Cap1. It will take a couple years to get on track for the better cards. Its prove yourself time to the other creditors. Since your with PENFED. Try to re-finance that auto loan while your at it. Cant rush a rebuild. Slow and steady wins the race. Just takes time. Congrats!
Ignore what CK says. Its marketing so they get paid......
I was with BofA for years before and all of the way through my Chapter 13, they were not burned, and even with a fairly large amount of money in my BofA savings account, they refused me a secured card after my discharge; I appealed and they denied me a second time. Trying to get a secured BofA card after a bankruptcy to me is just a way to waste a hard pull.
@Horseshoez wrote:
@FireMedic1 wrote:Since your with BoA. You can go secured with them since they werent burned. It will graduate in most cases. Mission Lane is a good one too. They'll double your limit with good history. Cap1 will be 6-12 months till approval. For emergencies you need a savings account for now. Pay yourself first with 10% of your take home pay. It grows rather fast. By the time those 2 cards age. Time for Cap1. It will take a couple years to get on track for the better cards. Its prove yourself time to the other creditors. Since your with PENFED. Try to re-finance that auto loan while your at it. Cant rush a rebuild. Slow and steady wins the race. Just takes time. Congrats!
Ignore what CK says. Its marketing so they get paid......
I was with BofA for years before and all of the way through my Chapter 13, they were not burned, and even with a fairly large amount of money in my BofA savings account, they refused me a secured card after my discharge; I appealed and they denied me a second time. Trying to get a secured BofA card after a bankruptcy to me is just a way to waste a hard pull.
Really? Well another reason now I dont care for them. Just for people with lower scores and need a rebuild I guess. That stinks. Thanks.
@bortiz212 wrote:Thanks for the advice! I tried the mission lane pre qual and got denied...maybe my discharge is too recent?
I had already planned on setting the 10% of my pay into savings, I usually do but had to use it for an unexpected death in the family so I'll be building that back up.
I get paid between tonight and tomorrow morning so I will try BofA then and see if they'll give me the secured card.
@bortiz212Save your HP from BoA. They wont approve you. As @Horseshoez posted and i peeked around looking. It is true. Even people that have been with BoA and they never burned with banking accounts. It was a no go. Learn something on here each day.
@bortiz212 wrote:Oh wow.
Guess I'll have to look for another way to get a credit line. Luckily I at least have the car for now, maybe in a few months with some more payments it'll be easier. I'd rather not have to put the money up for a secured card anyway but if it's the only way I'll do it.
In your shoes I would consider one or both of the following options:
- A secured credit card, from NFCU (if you are qualified to join), TDBank, Discover, Fifth Third Bank, FNBO, or possibly a credit union you are qualfied to join.
- An unsecured card from CapitalOne (I tried their secured card and disliked it so much I closed it after less than 7-weeks); CapOne has a reputation for being very forgiving and will often approve a $3,000 QuickSilver card shortly after discharge.
