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Rebuilding After Chapter 7 Discharge

Established Member

Rebuilding After Chapter 7 Discharge

My Chapter 7 Discharge was on February 20, 2018.  I was reviewing all the information about rebuilding.  I've seen where some of you are going for secured cards and "rebuilding" cards.  I just applied to Capital One Platinum card and was approved for $1,000 with no start up or annual fees .  For the record, in my Chapter 7 I did burn Capital One, by alot.  Just thought some of you might want to try this before getting those rebuilding cards which charge you an arm and a leg with a very low credit limit.  

Message 1 of 9
8 REPLIES
Valued Contributor

Re: Rebuilding After Chapter 7 Discharge


@texamel wrote:

My Chapter 7 Discharge was on February 20, 2018.  I was reviewing all the information about rebuilding.  I've seen where some of you are going for secured cards and "rebuilding" cards.  I just applied to Capital One Platinum card and was approved for $1,000 with no start up or annual fees .  For the record, in my Chapter 7 I did burn Capital One, by alot.  Just thought some of you might want to try this before getting those rebuilding cards which charge you an arm and a leg with a very low credit limit.  


as always, YMMV Smiley Wink

 

they still hate me 3 years after the fact ¯\_(ツ)_/¯

 

Congrats on the approval and start of your rebuild!

Ch 7 Discharge May 2015
Discover/Target/NFCU CLOC/NFCU Cash Rewards/PenFed Power Cash Rewards/PenFed Pathfinder AMEX - $60k total revolving
Message 2 of 9
Community Leader
Senior Contributor

Re: Rebuilding After Chapter 7 Discharge

The Capital One Platinum is a rebuilder card, but it’s one of the better ones. 

AMEX PLATINUM, DELTA PLAT & SPG | PenFed PR | NFCU FS | Discover IT | CAP1 VENTURE | LOWES l NORDSTROM I MACYS I WAYFAIR I
Message 3 of 9
Highlighted
Established Contributor

Re: Rebuilding After Chapter 7 Discharge


@texamel wrote:

For the record, in my Chapter 7 I did burn Capital One, by alot. 


If you don't mind me asking, what's "alot"? Like 10K? 25K? 50K? More?

I just got discharged last week. I burned Capital One almost 50K.

I was not going to consider Capital One at all, but maybe there's hope.

BK DC 4/9/2018
FICO 08 (4/9/2018): EQ 647 EX 609 TU 620
Message 4 of 9
Established Member

Re: Rebuilding After Chapter 7 Discharge

$15,000.
Message 5 of 9
Regular Contributor

Re: Rebuilding After Chapter 7 Discharge


@texamel wrote:
$15,000.

Oh thank you for sharing that... you just gave me hope! Mine was $7k.... still have 2 weeks till discharge.

STARTING OVER. Hit a bump in the road with an unemployed hubby, 700s turned to 400s pretty quickly when we couldn't pay.
Before hardship: 700s
Before filing CH 7: 490s
After CH 7 discharge reported to bureaus:
Equifax 660
TransUnion 614
Experian 626
Message 6 of 9
New Contributor

Re: Rebuilding After Chapter 7 Discharge

I only burned them for like 1.5K and I'm getting no love on the pre-qual.  So maybe this will give me hope too lol

Starting Scores: 470 Experian 510 Equifax 498 Transunion 06/13/17
Current Score: 639 Experian 610 Equifax 634 Transunion 06/14/18
Goal Score: 750+ FICO 8

Discover It Chrome = $2,000; Barclay's Apple Rewards - $1,500; Discover It = $1000; PayPal Credit - $250; Victoria's Secret - $250; Justice Card - $250; Navy FCU CLOC = $2,500
Message 7 of 9
New Visitor

Re: Rebuilding After Chapter 7 Discharge

So I burned CapOne for about $3000 maybe less. I still have access to my credit score and monitoring that was offered/free with my old cards. I'm curious if that's possibly a good thing in terms of them letting me back in? 

 

Have others gotten a Cap One soon after discharge, despite bring them?

 

My discharge was in Jan 2018 and this is the first I'm looking at anything credit wise to begin my rebuild (I've been crazy busy with school). I intended to follow the 24 months to 700 plan loosely. I was just approved for Credit One Platinum for $1500. 

 

Capital One creditwise score says 640. 

 

PS. I've been letting since before I filed, figured I'd come out of hiding! 

Message 8 of 9
Valued Contributor

Re: Rebuilding After Chapter 7 Discharge

Capital One does their dreaded tripple pull (unless you have one CRA frozen, in which case they are fine with two CRA pulls), but the real quesiton is whether they will pull at all if you are on the blacklist?   Barclay's and AMEX won't even pull so there is no risk in applying,   Someone else can chime in and confirm whether Cap 1 pulls when you are blacklisted.

FICO 08: EX-698, EQ-732, TU-706 - [5/13/2018]
FICO 09: EX-748, EQ-763, TU-750 (5/13/2018)
Mortgage: EX-736, EQ-705, TU-750 - [5/13/2018]
NFCU NavChk 15K | NFCU Visa 6.99% 31.5K | CapOne Venture Visa 50K | Barclay Aviator MC 9.5K | Discover It 24.4K | Alliant 3% Cash Back Visa 25K | Penfed Promise 20.5K | BECU Visa 10K | BECU CLOC 10K | DCU Visa 10K | BofA AK Air Visa 5K | Citibank secured 1K | Amazon Prime 10K
221.9K Total Revolving.
Share Secure Loan Alliant $100 Balance/$15,000
BK 7 Filed 8/23/2013 - Discharged 11/27/2013.
Message 9 of 9