Preparing for rebuild

[Anonymous]

Awaiting DC, which won’t happen until early November, and trying to get my ducks in a row. I ended up buying a 3 year old Toyota RAV4 as both vehicles were surrendered in the BK and we had no wheels. I managed to get 11.5% interest with zero down on an EX score of 581. Not great, but not as terrible as I’ve seen. I know I could have done better after DC, but using rideshare to get hubby to physical therapy twice a week, as well as other errands, was killing us financially. We are new to the area, so no family or friends we could lean on, either.

Going forward, the plan is to join NFCU and do a re-fi next year. I ordered my mom’s DD214 and the National Archives just called today to say they found the record and are processing my request ASAP. I don’t plan on doing anything else until January 1, which should give me time to clear up anything on my reports. Burned the following:

Cap One
Credit One
Synchrony - Several accounts
Comenity - Several accounts

Hoping to snag an NFCU secured backed by $1k in a savings account. Won’t app for that until 1/1/2020, though. Any other suggestions?

[Bobby1081]

Hey there gsh0126,

Once you discharge, I would only put $500 into the NFCU secured card. With heavy usage and multiple monthly payments it will unsecure in 5 months and increase to $2000. Since you did not burn Discover, I would check their prequal and get the secured card with them with $200.  In 7 months people are showing it unsecures and increases to $2000.  Capital One will let you back in very soon.  With these 2 cards and the auto loan you will be good. Let the accounts age and then around 1 year start applying for Capital One etc. 

[pizza1]

I would agree with above poster.. Usually Discover won't offer unsecured to you immediately after discharge, but will secured. I would definitely take that if offered.

I wouldn't apply for anything though until after DC, and all your reports are reflecting correctly..(.accts show $0 bal/IIB. ) But sounds like you have a plan, and in the mean time, I would spend time on these forums reading and researching.

Feel free to ask questions as you go along!