App Spree Post Bankruptcy

[Amarie003]

Hi All-

I'm guessing this question is posted a lot, but I'd greatly appreciate some specific advice...

My Chapter 7 bankruptcy was discharged in 07/2019, and I haven't applied for any credit since.

In bankruptcy, I burned Cap1, Amex, and PenFed.

My goal is to get a few cards so that I can begin rebuilding to take out my first mortgage soon.

Anyways, I'm about to go on my first app-spree and was thinking about applying to these:

- Wells Fargo

- Navy Federal

- Credit One

- Amazon Prime Card (Synchrony Bank)

I welcome any advice or questions you all have. Thanks!

[M_Smart007]

I have no experience with post BK spree's .. so I won't pretend to know.

But I believe @CreditMagic7 , @pizza1  or possibly @OmarGB9 could help you?

[silver_idle]

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@Amarie003 wrote:

Hi All-

I'm guessing this question is posted a lot, but I'd greatly appreciate some specific advice...

My Chapter 7 bankruptcy was discharged in 07/2019, and I haven't applied for any credit since.

In bankruptcy, I burned Cap1, Amex, and PenFed.

My goal is to get a few cards so that I can begin rebuilding to take out my first mortgage soon.

Anyways, I'm about to go on my first app-spree and was thinking about applying to these:

- Wells Fargo

- Navy Federal

- Credit One

- Amazon Prime Card (Synchrony Bank)

I welcome any advice or questions you all have. Thanks!

---

Capital One do usually allow people back after they been included in BK though that varies on the amount and other factors. You could try them again (maybe someone who been thorugh BK7 can chime in on that matter with CapOne) instead of Credit One, but if they are the only option then nothing is wrong with using them to rebuild. Whats your credit profile and scores like currently if you dont mind me asking? 

[Amarie003]

Thanks. I am prequalified for a Cap1 Platinum right now - I may take a risk. My scores range from 616-637 as of today. 

[AverageJoesCredit]

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@Amarie003 wrote:

Hi All-

I'm guessing this question is posted a lot, but I'd greatly appreciate some specific advice...

My Chapter 7 bankruptcy was discharged in 07/2019, and I haven't applied for any credit since.

In bankruptcy, I burned Cap1, Amex, and PenFed.

My goal is to get a few cards so that I can begin rebuilding to take out my first mortgage soon.

Anyways, I'm about to go on my first app-spree and was thinking about applying to these:

- Wells Fargo

- Navy Federal

- Credit One

- Amazon Prime Card (Synchrony Bank)

I welcome any advice or questions you all have. Thanks!

---

Something seems off about those choices. But no judgement.  My advice is if you are eligble for Navy and get approved, DO NOT apply for Credit One.

[OmarGB9]

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@M_Smart007 wrote:

I have no experience with post BK spree's .. so I won't pretend to know.

But I believe @CreditMagic7 , @pizza1  or possibly @OmarGB9 could help you?

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I do not have any BK experience, so I can't say for sure either, but I believe I've seen people get approved for Cap One straight out of the gate. Not sure about OP's other choices.

[SirMilo]

I will lay out some embarrasing info I have available for the sake of DP's.

I had to go down the BK7 road many years ago once my wife got sick and decided to take early retirement. I went from two incomes to one almost overnight and had no choice other than to declare BK7. Long story short, Capital One went down with the ship for approx $5K. Within months of the ugly event, Capital One actually offered me another card with a low SL. I took them up on it and have had the card ever since.

The best thing you can do is just to remember what caused your financial issues and learn from them. What I would not recommend is an app spree. Just get a single card, use it carefully to improve your scores and good things will come in the future for you..

[Remedios]

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@SirMilo wrote:

I will lay out some embarrasing info I have available for the sake of DP's.

I had to go down the BK7 road many years ago once my wife got sick and decided to take early retirement. I went from two incomes to one almost overnight and had no choice other than to declare BK7. Long story short, Capital One went down with the ship for approx $5K. Within months of the ugly event, Capital One actually offered me another card with a low SL. I took them up on it and have had the card ever since.

The best thing you can do is just to remember what caused your financial issues and learn from them. What I would not recommend is an app spree. Just get a single card, use it carefully to improve your scores and good things will come in the future for you..

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That's not embarrassing, it's probably the best advice OP is going to get. 

[Jnbmom]

You have cards in your signature, what are those?

As other have said skip credit one . I would try capital one and get that and slowly gain others.

Your scores seem a little on the low end for having a BK 2019? Do you have anything good or bad on your reports?

[SirMilo]

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@Remedios wrote:

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That's not embarrassing, it's probably the best advice OP is going to get. 

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Maybe embarrassing wasn't the wording that I should have used. 

Sometimes things happen beyond our control and life steamrolls you... it is what it is. Up until today, i've never really talked about it since it was a very low point for me. I should have probably said that i'm not proud of it rather than embarrassed. I've always felt that perhaps I should or could have done something different to avoid it. As time has gone on, I have realized that with the loss of a 2nd income, there was no solution to the problem other than the one I chose. If there was an upside, it's that I have learned from it and am pleased that I now pretty much live a debt free existence.