Is This a Good Start?

[Anonymous]

Hi there! I'm new to the forums all though I have been reading the posts here since I filed Chapter 7 in February of this year. I was discharged on 6/30/17 and have applied and been approved for the following:

Capital One Platinum Unsecured = $300
Credit One = $400
Firestone = $850
Fingerhut Fresh Start = $200

I have studen loans that I assume would count as installment credit but I just don't feel like I have enough. I've not used the Capital One and charged $170 and I've paid $70 before receiving first statement.

I was declined Discover secured which is what I really want and I applied for a Quick Silver and was declined because of a "recent declined or processed app".

Do you think this is a good start? For some reason I feel like I e failed since I didn't get any of the food cards.

[Anonymous]

food cards should be good cards...typing on my iPhone

[Anonymous]

Yes, don't apply for anything else for the next 6 months. Let you current accounts age and don't let more than 10% report. 

In 6 months you can apply for the QS or Discover or both. Capital 1 only allows one approval every 6 months.

Sidenote: Last June I apped for the secured Discover and was decline. 6 months later in Dec, I applied for the regular Discover (I was not preapproved and did not receive mailers) and I was approved for only 1K. It's now 7K (I haven't requested an increase this month). 

Moral of the story, let your accounts age and show good payments and utilization, and you can turn denials into approvals 😀 

There re is a thread in this forum called 700 in 24 months. If you haven't read it, you should. You will want to close your credit one card before the annual fee hits. IMO, sooner if possible (especially if you apply and are approved for QS and Discover in 6 months). 

[Anonymous]

Yay! Thank you Justagirl! That makes me feel soooo much better! 😀

[medicgrrl]

You're off to a great start...Justa has given you great advice!! Patience is the most difficult part of rebuilding 😉

[Anonymous]

Thank you medic! Patience is something I've never had...but I guess this is my real test and I am determined to win! 😊