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Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Established Member


Discharged June 2018.
Received an auto loan through CPS Inc in April 2018. 22,000 for 72 months @18.69% interest. I needed a car and.
January 11, 2019 just refinanced through Cap One for 60 months @10.69% interest.

I have a Capital One Platinum Card with a $500 credit limit that I pay off in full each month.

Self lender that I pay $150 a month for 12 months. Currently in month 2.

Target card with $300 limit that I let report with $50 dollars a month.

Pen Fed Checking Line of Credit which is $500. Don’t ever use, I just have it.

A million inquiries. I burned Cap One and Target. They let me back in the same week I got discharged.

Anything else I should be doing? Or should I just be gardening for now? Want to get one or two more credit cards but I seem to not get approved anywhere.

Burned Navy Fed, Synchrony, Cap One, Target, Military Star, Toyota Financial, Nissian Financial,
Message 1 of 5
Senior Contributor

Re: Update

How many is a million and who did you apply with. Yes let the inqs chill for a while. 3 cards is best for FICO score in but since the denials came in. Chill for at least 6 months since the last in.

My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC.
Message 2 of 5
Established Member

Re: Update

Maybe 40 inquires since my discharge until now. I applied for military star, discover secured card, local credit unions credit card, pen fed 500 personal loan, different stores that use synchrony.
Message 3 of 5
Senior Contributor

Re: Update

Yeah its time to garden. Your 6 months out and have way too many inq's. This looks like desparation to many lenders. Got to spread out apps 4-6 months. Its not a rush to win the race. Slow and steady. So for now those inqs need to age. They will fall off FICO in a year. You could say you went a bit app crazy. Enjoy what you got for a while and try again maybe JulyAug. JMO.

My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC.
Message 4 of 5
Established Contributor

Re: Update

Why did you take out a self lender loan 2 months ago?  I agree with Firemedic, you have way too many inquiries especially less than a year post discharge.  If you're not getting approved for more cards then you've hit the end of the line for now.  Continuing to apply anytime soon is just setting your rebuild back farther.



Message 5 of 5