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Life After Bankruptcy!

nekia25
New Member

Life After Bankruptcy!

I was discharged last month. And I have a few cards with small limits! What are some suggestions!

I have Belks $500
JCPenney $400
Capital 1 $200
Walmart 700
Lowes 300
Amazon 700
Care Credit 800

This is my first time having cards ever! But utilization is under 10% so far!
Message 1 of 23
22 REPLIES 22
AverageJoesCredit
Legendary Contributor

Re: Life After Bankruptcy!

Welcome to the forumSmiley Happy Just use them wisely and be patient. They will grow with time. Also be careful getting so many Sync cards, hopefully not all at once as that can lead to future scrutiny ( hopefully not). Good luck on your restablishing your credit. Smiley Happy
Message 2 of 23
coldnmn
Mega Contributor

Re: Life After Bankruptcy!

Suggestion Garden! Congrats!
Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $15k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $10.8k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $5.35k / Citi DC (WMC) $12k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Message 3 of 23
njcobra10tha
Established Contributor

Re: Life After Bankruptcy!

Similar situation 2 months post CH 7 discharge.  Funny you got approved for ones I was denied (Walmart, JC Penny, Capital One.

 

I have seen lots of love from Commenity with the following approvals:

Victoria Secret $250

HSN $1,000

Pottery Barn $2,000

Pier 1 $500

Eddie Bauer $250

J Crew $250

Marathon Gas $250

Samuels Jewlers $2,000

 

I also was approved for :

Kohls $300

Matrix Mastercard $500 high fees so not sure if worth it

Surge Mastercard $500 high fees so not sure if worth it

1st Access (Total) Visa $300

1st Premier Mastercard $500

Gettington $500

Von Maur - varying line of credit

DFCU Secured Personal Loan (waiting on paperwork)

Credit One Mastercard $1,500

 

I know I went a little crazy but wanted to get enough total credit that I could actually use a card and still keep balances low.

 

Message 4 of 23
nekia25
New Member

Re: Life After Bankruptcy!

I was thinking the same thing!
Message 5 of 23
nekia25
New Member

Re: Life After Bankruptcy!

Are they bad to deal with?
Message 6 of 23
nekia25
New Member

Re: Life After Bankruptcy!

@njcobra I have a few comenity cards! I wanna close the but I don't want my score to drop. I been working with a credit repair company. So I don't use a lot of them.
Message 7 of 23
Mia25
Senior Contributor

Re: Life After Bankruptcy!


@nekia25 wrote:
I was discharged last month. And I have a few cards with small limits! What are some suggestions!

I have Belks $500
JCPenney $400
Capital 1 $200
Walmart 700
Lowes 300
Amazon 700
Care Credit 800

This is my first time having cards ever! But utilization is under 10% so far!

Welcome to the forum, congrats on the approvals. Now, let them seat for 6 months and request a CLI to increase your available credit. 

 

Message 8 of 23
NobleFunk
Frequent Contributor

Re: Life After Bankruptcy!

welcome !! congrats on your rebuild. take it slow. remember, it's a marathon not a race.

Message 9 of 23
mimsof4
Established Contributor

Re: Life After Bankruptcy!

Congrats on your start to rebuilding.  Now that you have a hand full of new cc's, stop applying.  You need to establish positive payment history and responsible usage before the limits will grow.  If you keep applying right now, you will continue to get these low starting limits if you are approved.  It will take so much longer to grow these lower limits.  If you wait until you are re-established, you will be rewarded with higher starting credit limits.

 

Good luck!

Nov 2014 Starting credit score TU 598; EQ 602; Ex 614; Sept 2020 TU 779; EQ 783; EX 781
Discover $32k/Citi $10k/Amex $35k/Wayfair $14k/Chase Freedom $13k/NFCU $15k/Amazon $7.5k/sewing & more Synch $11k/Lowes $12k
Message 10 of 23
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