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Trying to rebuild my credit after chapter 7 discharge in August 2018.
My FICO® Score 8 on Experian is 622.
I have these two cards
Capital One Platinum secured - $600 limit (8 months old)
Capital One QuickSilver One - $3,000 limit (just opened)
What's a good 3rd credit card to apply for? Mainly looking for higher % cashback on dining and gas where most of my spending is.
Discover. I would check their prequal.
You wont qualify for Savor or Propel or Uber or Ducks Unlimited yet.
If no prequal on Discover, see what Merrick Bank has to offer in a prequal. No major rewards but might be a no AF card to help you build.
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!
I forgot to include the list of people IIB
Discover
Amex
Chase
Synchrony
Bank of America.
Should I still try to aim for Discover IT?
I tried both pre qual for Discover and Merrick and both said no offer available.
Honestly, if you *just* got your second card, I would sit tight and not app for anything until you're a year post discharge, and then I would go for PenFed (anyone can join) or Navy (if you have a way in.)
Make sure you are AZEO when applying. They seem to like slow and steady rebuilds and low INQs. You'll likely get a moderate limit to start but around 90 days can potentially get a huge CLI.
My NFCU Cash Rewards went from $1k to $23,500 and my PenFed Power Cash rewards went from $2k to $18k.
Agree with Steeler. Spread you apps out 4-6 months minimun. Dont rush it. Your rebuilding and slow and steady gets better results. Not the I have to get it all in the first year. You got a good start going on now. Just play the game and you'll be fine.
Thanks! I'll hold off on applying more for now until I get pre qual offers in the mail.
@MaxKohl - How's your rebuild going?
I believe, as some of the others have pointed out, Discover forgives, but they want to see some history post discharge.
Here is a post where the OP is 23 months post discharge, and was approved by Discover, even though he burned them
https://ficoforums.myfico.com/t5/Bankruptcy/Discover-Does-Forgive/td-p/5408560
@MaxKohl - Your Target card will grow, PIF every month.