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Less than a month after discharge, rebuild going great!!!

anniea4001
Contributor

Less than a month after discharge, rebuild going great!!!

I filled for chapter 7 back in Dec 2020 received my discharge about 2 weeks ago. 

 

The day after the discharge reported to the RA, I applied for CapOne's Platinum no AF card and was pprovded for 3k.

I had been checkin the pre approval site since I filed and was preapproved.

 

I have been looking for suggestions on a 2nd card for my rebuild and someone mentioned Ollo a couple of weeks ago but as I understand that is an invite only card. So with my car loan, student loans and my new card I was not applying on applying for anything else in hopes that my TomoCard decides to finally report to all bureaus. Not doing so yet.

 

I logged into credit karma today and there it is, my Ollo pre approval. Approved for $500.00 with a TU pull. Silly limit compared to CapOne but I am amazed of how easy it has been to get credit so soon after my discharge.

Before filling, the only one that would extend me credit was Credit One until I decided to apply for secured card with Discover, which eventually graduated from $400 to 2k. Not even CapOne wanted me even thou I paid them every penny I owed them from 2 charge offs from like 5 years ago. This was before I even decided to file. 

 

Now to garden for a few months I go before I apply for my next card.

6 REPLIES 6
Belle2018
Regular Contributor

Re: Less than a month after discharge, rebuild going great!!!

Great job on your rebuild

Message 2 of 7
anniea4001
Contributor

Re: Less than a month after discharge, rebuild going great!!!

Update. Ollo pulled TU and EX. And just today my EX went up another 18pts. Currently sitting at 621. For some reason I didn't get the notification but Ollo pulled the most recent score. 

I think this is the highest my EX has been in a while, since before BK. 

With some accts reporting charge off every darn month it was dragging my score thru the mud even though I was behaving great after my charge offs. 

Message 3 of 7
PlasticBurns
New Member

Re: Less than a month after discharge, rebuild going great!!!

Great work so far! I would recommend checking your credit reports monthly to ensure accuracy and proper reporting.

Chapter 7 DC 12/2020
Amex BlueCash Preferred AU: $14000 MissionLane: $1000 Credit One: $500 NFCU Secured: $200
04/02/21 Experian: 680 Transunion: 657 Equifax: 676
Message 4 of 7
chalupaman
Super Contributor

Re: Less than a month after discharge, rebuild going great!!!

Well done! Just sit tight and watch the scores go up and up before your eyes and then see a bit of slowdown long term. 

Main cards: Penfed Power Cash Rewards - $10k, Kay Jewelers - $5.5k, Jared - $4.5k, Capital One Platinum - $3k, Best Buy - $2k, Amex Delta Gold (AU) - $1k, NFCU cashRewards - $500

Other cards I use atm: Firestone CFNA - $2.4k, CareCredit - $1.5k, Mercury MC - $1.5k, Amazon Store Card - $600, Ollo MC - $600, Mission Lane Visa - $500

Other TLs: Appliances Connection - $3.8k, Wayfair Fortiva - $2k, Williams Sonoma - $600, NY & Company - $500, Macy’s - $500, Home Depot - $500, Target RED Card - $500, CapOne Secured MC 0 AF - $500, Penfed Overdraft LOC - $500

Current FICOS: EX - 671, EQ - 686, TU - 672
Ch 7 BK D/C Aug 2019
Starting scores: EX - 534, EQ - 574, TU - 516
Total TLs: $43k
Total Utilization: 2%

It is possible to get your credit back into shape. Just be patient, let accounts age when needed and apply for what you need.

Message 5 of 7
angelofmusic86
Frequent Contributor

Re: Less than a month after discharge, rebuild going great!!!

Congrats on your rebuild so far!  Sit back, enjoy the garden for now, and best of luck in your future rebuild!

CH7 Filed 05.01.2020; Discharged 10.21.2020

10.22.2020 FICO8 Scores: EQ 615 TU 560 EX 581
04.08.2021 FICO8 Scores: EQ 665 TU 672 EX 661

Rebuild progress: Kohl's $300, CreditOne Rewards $700, CapitalOne QS $0AF $3,000, PenFed PCR $3,500
Gardening until November 2021.
Message 6 of 7
anniea4001
Contributor

Re: Less than a month after discharge, rebuild going great!!!

Thanks everyone. 

 

I am beyond thrilled. just with the 3k CapOne approval, that is the highest starting limit I have ever been approved for even before my financial problems started. 

Now with these 2 cards, my auto loan and my 3 student loans I will be gardening for a few months.

And I now have access to my reports via MyFico as well as other free services so I will keep an eye on those. 

Message 7 of 7
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