Post Discharge (April) Update

Anonymous · ‎05-10-2020

Hi,

Here to share a few data points. I discharged Chapter 7 last month. My credit reports are all updated correctly. Although I burned just about every bank except Chase and Wells Fargo, I was able to get a Target Red card ($300), Golden 1 credit union secured card and a secured card from Union Bank. I'm going to rebuild with these three cards and try Cap one in about a year. I want Discover and Cap one but they are IBB. I may try Barclay sometime in the future. My goal is to wait at least one year before trying for Cap one, Discover and Wells Fargo. I was honestly shocked with the Target instant approval. I'm in California btw.

FireMedic1 · ‎05-10-2020

Welcome @Anonymous

Good way to start. If you dont have any loans. Check out Self Lender. Congrats!

Anonymous · ‎05-10-2020

@FireMedic1 Thank you! I've been seeing you reply to others posts. Your advice seems like it comes from some solid experience. I appreciate that! I will definitely look into a self lender. I would love to get into NFCU but I know no one affiliated with NFCU and the military. They seem like the golden ticket around here.

FireMedic1 · ‎05-10-2020

Yes they are. Absolutely no one in your fam was in the militray? I joined last month from my grandfathers Hon DC papers.

Anonymous · ‎05-10-2020

@FireMedic1 I have a cousin who is in the Army. What would be some of the NFCU products that someone out of chapter 7 would qualify for?

mrcraft · ‎05-10-2020

I think you're on the right track with your credit strategy at this stage. With NFCU, I think just becoming a member and opening a savings account would be another good start too. You'll build your relationship with them, and can get unsecured credit products in the future as you re-build your credit. NFCU also has a secured card, so that might be a short-term option too. Good luck!