A few data points for anyone curious. I've just began rebuilding my credit (again) , I was just approved for The discover it secured card. Literally shocked as my EX Fico score was 527 at the time of pre approval on their prequal site. I'm about 8 years post chapter 7 and have plenty of baddies from about 1-1/2 to 2 years ago. I opened and open sky secured card in September with a $1k SL. I also have an auto loan that was opened just a couple months ago. I'm very grateful and excited to eventually graduate with responsible use in about 6-12 months hopefully. Just wanted to make anyone else in the building process aware that you don't need perfect credit for this great card. It has 2% cash back on restaurants and gas purchases with 1% cash back on everything else. Plus a first year cash back match that doubles your total cash earned over your first year. From my understanding ,It's also very common to graduate in 6-7 months and receive a considerable CLI with responsible use.
”Breathing new life into a dead credit file”
Congrats on your Approval!
Congrats on the approval!
Congratulations on your approval!!! I also started with the Discover It Secured ($200) back in August. I was grateful that Discover gave me a chance right out of BK after NEVER being approved before. Hang in there!! Take good care of it, and I'm sure the results will be great! Can't wait to hear when your card graduates too!
Congrats on the approval. 7 months is pretty typical if you PIF and have a pretty deposit (I started with $400 and was also 7mo with a CLI to $1800 upon graduation). People who deposit amounts getting closer to the max for that card ($2500 IIRC), tend to have longer waits for graduation.
Congrats! Best of luck on the rebuild!
