App Spree Post Bankruptcy

[Anonymous]

@Amarie003 You've been given great advice above. 

When do you plan to get a mortgage?

Usually it's suggested not to apply for any new accounts or chance any hard pulls for at least a year prior to apping for a mortgage.

You are far enough out that you would more than likely get approved for an unsecured Cap One card.

There is also a fair shot that you would be approved for a Navy unsecured card (Do not go for the flagship right off the bat). If you are denied, you will likely be offered the secured card (they have a great secured card). 

You can forget about Credit one (Up to you though).

I have heard that Sync is bk friendly, but there is a good chance that this current environment has them more cautious than usual. I personally would not suggest apping for it.

It is possible to get back with Amex eventually if you are willing to repay them. Otherwise wait out their long blacklist period.

[Anonymous]

@SirMilo 

---

@SirMilo wrote:

---

@Remedios wrote:

---

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

---

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. 

---

Thank you for sharing! It's a reminder that life can change at the drop of a hat. I'm glad you have moved on and are now in a much better place financially. 

[lyTENciL]

---

@Anonymous wrote:

@Amarie003 You've been given great advice above. 

When do you plan to get a mortgage?

Usually it's suggested not to apply for any new accounts or chance any hard pulls for at least a year prior to apping for a mortgage.

That advice is for those who don't want their scores to move prior to mortgage app.

[Andy77]

I burned Cap One for about 60k. before my bk was discharged in Feb of 20' they gave me a card with a 500 limit, so you should be able to probably get a card with them, if I could. They increased my limit in August 20 to 750.

NFCU has been great to me. My bk discharge was 5/18/20. I opened my NFCU secured card on 5/22/20 NFCU with a 3k limti that I increased to 5k, 6 statements laster they unsecured the card to a NFCU Cash rewards visa signature.

Since your BK is much older, I think they might approve you for a cash rewards card with a 1k limit.

[Guyatthebeach]

Amarie003,

Going on through a bankruptcy, I remember being in the early part of my rebuilding process. I would avoid Wells Fargo. I've seen people get declined even being 2 years post bankruptcy. I would definitely avoid Credit One as they are fee driven. 

If you are able to join Navy Federal, you should. They are definitely bankruptcy friendly. Look at the cash rewards card. Even though you burned Capital One, they may approve you again. Once you get your Fico above 650, take a look at the preapproval page for Discover.  

Also check out the bankruptcy forum. Look up Soulmaster's guide to 720 in 24 months and use it for reference. 

Best of luck and let us know how you do!

Guyatthebeach

[Anonymous]

Your score is at a point where you can start to get preapprovals. At the 650 range more things will open up for you.

I don't have experience with bankruptcy, but I agree with the others who advise apping for the Capital One Platinum card. Cap One has already given you a preapproval, which is very promising. The platinum seems like a decent card for rebuilders that can be upgraded later to something with rewards. 

I don't see any need for you to app for Credit One when you already have a preapproval from Capital One. I guess Credit One is "okay" when you literally aren't getting anything hopeful from anywhere else, but you have Capital One with its preapproval! There is no need to have anything to do with Credit One.

Navy Federal is also very generous, and if you have ties to the military or a family member, you can get in. Both my father and grandfather (both passed away) served in the military and that qualified me. Even if only my grandfather was in the military, his service alone would have qualified me, and he died when my father was a kid! (When I applied for Navy membership—I had to call to apply—they didn't ask me for proof of my father's and grandfather's service, but such proof is readily available online.) I HIGHLY recommend Navy. I got an unsecured cashRewards card when my score was around 650.

Good luck!

[Caliboy97]

I was able to open a unsecure capital one card out the gate, NavyFed gave me a secure card so I took it since it graduates in 6 months, OpenSky secure card since no hard pull, then got another credit union to give me a unsecure card but since my pay stubs didn't match up to income since COVID had it up and down monthly didn't go through with it :/

[Amarie003]

Thanks for your input! :-)

[Amarie003]

Thank you for being so open and sharing about your bk journey. It is comforting to see that you have come so far since yours and naturally that gives me hope for a better financial future. :-)

[Amarie003]

The cards in my signature are from before my bk. I haven't been on here in years, and I just haven't updated my signature yet. 

I do not have anything else negative reporting to my CR's. I think the issue is that I don't have anything reporting at all (since the bk). I paid off my current vehicle back in 2018 and I don't have any active credit cards or financing.