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Good evening everyone.
I am about a month a 3 days post discharge on my Chapter 7.
So far I have managed to secure 2 CCs wih no AF.
CapOne 3k SL.
Ollo 500 SL.
Today I received a pre approval for the Mercury MC via Credit Karma. No AF and 1% cash back.
When I click on the details, it only asks for last 4 of my SS.
Anyone that can chime in about this card? I have never heard of it and I am not sure if its even worth considering it.
What bureau do they pull from?
My current goal is to garden for a few months so I can apply for a Penfed CC.
My only new inquiries are the 2 cards I got plus 1 other I got denied for. But I do have several inquiries from purchasing a vehicle a year ago and 3 months ago.
Suggestions?
Current FICO 8 scores EQ 632 - TU 630 - EX 653
I got it for the free FICO score basically but I've heard of people around here who got pretty great starting limits out of the card. It's definitely worth a look in my book.
Thanks @chalupaman
I know it is recommended to have at least 3 cards, so I figured this might be the 3rd one.
Do you remember what score they pulled when you applied?
I also noticed you have Penfed listed on your signature. That is really the next bank I want a credit card from.
Can you share some of your data points? What score they pulled? How soon after BK discharge did you apply?
TIA
@anniea4001 wrote:Thanks @chalupaman
I know it is recommended to have at least 3 cards, so I figured this might be the 3rd one.
Do you remember what score they pulled when you applied?
I also noticed you have Penfed listed on your signature. That is really the next bank I want a credit card from.
Can you share some of your data points? What score they pulled? How soon after BK discharge did you apply?
TIA
Sure thing.
Penfed I've been a member with them since 2014 approximately, but I never really had any products with them beyond the checking and savings and overdraft LOC. After BK, they gave me another overdraft LOC account right off the bat and a year and 8 months after DC, that's when I got instantly approved for the PCR when my FICOs reached the 660s. I tried some other cards on the same HP, but no dice, so I'm just letting the card age now and using it for everyday purchases and I also did a balance transfer on there as well I'm paying off within the next month.
I recommend getting a checking/savings account with them now so you can establish that relationship to boost your chances.
@chalupaman wrote:
@anniea4001 wrote:Thanks @chalupaman
I know it is recommended to have at least 3 cards, so I figured this might be the 3rd one.
Do you remember what score they pulled when you applied?
I also noticed you have Penfed listed on your signature. That is really the next bank I want a credit card from.
Can you share some of your data points? What score they pulled? How soon after BK discharge did you apply?
TIA
Sure thing.
Penfed I've been a member with them since 2014 approximately, but I never really had any products with them beyond the checking and savings and overdraft LOC. After BK, they gave me another overdraft LOC account right off the bat and a year and 8 months after DC, that's when I got instantly approved for the PCR when my FICOs reached the 660s. I tried some other cards on the same HP, but no dice, so I'm just letting the card age now and using it for everyday purchases and I also did a balance transfer on there as well I'm paying off within the next month.
I recommend getting a checking/savings account with them now so you can establish that relationship to boost your chances.
@chalupaman thanks for sharing!
I ended up applying for Mercury, and after some identity verification I was instantly approved for 2k. Not too bad for a starting limit. Plus the 1% cash back and no AF, not bad at all. Better to get some cash back than none.
I am done with card applications for at leats 6-9 months.
After filing for my CH7, I starting researching this forum ad decided to join Penfed with a savings account after reading such good things about them.
I put a little money there at least once a month (just to have a secondary emergency fund) and I am waiting to build some more credit history before I apply for a card with them and maybe a car refinance. We'll see.
So far, I am extremely happy with the approvals I have been able to secure so far. No hard pulls wasted except a Care Credit denial. I was not planning on applying for Care Credit until next year but I had some dental work for about $1400 and I was hoping (more like dreaming) to get some love there but NOPE.
With my 3 cards to garden I go for the next few months. Technically I have 4 cards but it does not look like Tomo is reporting to all bureaus any time soon. So it technically does not count
Congratulations on your approvals!
Thank you @Total80sKid @M_Smart007
For however may be interested in this card, here is some data. Mercury pulled TU. Hope that helps