I wanted to leave this here for others in my position of post Ch 7 rebuild. I received my first ever card with sizable limit (for me) and decent interest rate since the BK. I'm comparing this to what I got before BK which was 18.99% from Discover for $10,000. Which their still blacklisting me for.
PenFed Gold Visa 17.99% $6,500
I had been waiting for PenFed for my rebuild since it seems since 2019 they switched to 24 months post BK but I got hit with cable box dispute (I returned the box) that went into collections for 2 months right after the 2 year mark. I caved in and paid for it and cursing myself for not taking care of it ASAP. Because of that I thought I was screwed with PenFed for another 2 years as some people posted that they denied them for derog within 24 months. I went on a app spree since I'm more than 2.5 years post BK and got approvals with token limits from Venmo, BBVA, but a big one from GS Apple Card. Plus Sync counter my CLI for Amazon store card with $2,000 increase rather than the $1,000 increase I submitted, as well as an automatic SLI last november from CapOne QS1 to $3,000 (after 90 days, 2nd CapOne card, non bucketed).
I saw the conditional acceptance and feared the worse but decided to call them and figured at most I'd get a $3,000 SL, but was shocked instead that I got the same generousity they give to most folks. So for those in BK rebuild, this post is for you. Until they change the underwriting, wait 2 years post discharge and get in with them. Then say hello to your first semi prime card. I was just savoring the joy of having no AF cards that will grow unlike Avant or Mercury, which are gross subprimes and was overjoyed with the GS Apple card for $2,500 and now this....a card with a good SL (for my profile) and with the best interest rate I've ever had (I know it's the max of that card's interest range). I never knew what I was missing out on with Credit Unions pre BK.
No more 24.99 - 28.99% interest rate!! So for all those BK rebuilders, THIS IS YOUR FIRST BIG STEP towards prime.
