Credit One Question

[MyFault]

You just came out of BK7 two weeks ago, and you already have 4 cards.
I would say you need to slow down.
I would also cancel the Credit One since you have three other cards already, and garden for a LONG LONG time before going after anything else.

[Remedios]

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@Anonymous514 wrote:
Discharged 8/14/19
I have SL my first payment is is 89 and due the 24th of this month
Express 250$
Bcu launch secured 150$
Fingerhut freshstart 93$ initial approval 230
And credit one at 500$ 39 yearly annual fee is my terms. I have enough cards until I qualify in 6-12months for an unsecured bcu card

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Okay, so you really need to slow down 

Discover will not even consider approving you for at least 2-3 years. 

You're not even two weeks out of BK and already getting "too many Inq" 

Also, Fingerhut Fresh Start reports as a loan until first purchase is paid off, so you have two loans atm

Once purchase is paid off, they "graduate" it from loan to revolving credit. 

As far as credit one, you can close it or keep it along with the fees. You already took a HP for it, so might as well ride it out for a year. 

Dont start your rebuild with bunch of useless cards that you'll be closing anyway. There is no way to rush time, and by applying for cards like these, you're pretty much kicking yourself out of the game 

I am being reminded of my inq from almost two years ago to this day and had to recon last two cards with a clean, decent profile. 

So, if you want to help yourself, do nothing for a year. Pay off your debt, instead of putting money in security deposits. 

[CreditInspired]

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@Anonymous514 wrote:
Discharged 8/14/19
I have SL my first payment is is 89 and due the 24th of this month
Express 250$
Bcu launch secured 150$
Fingerhut freshstart 93$ initial approval 230
And credit one at 500$ 39 yearly annual fee is my terms. I have enough cards until I qualify in 6-12months for an unsecured bcu card

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😳

IMHO, please do not apply for anything else until 9/2020. And when you do, no more retail cards. You have to give yourself some time to learn from your mistakes so you won’t repeat them again. That BK is going to be on your CRs for a minimum of 7 years so you have to take it slow and let lenders trust you again. 

[CreditInspired]

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@MyFault wrote:

You just came out of BK7 two weeks ago, and you already have 4 cards.
I would say you need to slow down.
I would also cancel the Credit One since you have three other cards already, and garden for a LONG LONG time before going after anything else.

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Second this!

[CreditInspired]

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@Remedios wrote:

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@Anonymous514 wrote:
Discharged 8/14/19
I have SL my first payment is is 89 and due the 24th of this month
Express 250$
Bcu launch secured 150$
Fingerhut freshstart 93$ initial approval 230
And credit one at 500$ 39 yearly annual fee is my terms. I have enough cards until I qualify in 6-12months for an unsecured bcu card

---

Okay, so you really need to slow down 

Discover will not even consider approving you for at least 2-3 years. 

You're not even two weeks out of BK and already getting "too many Inq" 

Also, Fingerhut Fresh Start reports as a loan until first purchase is paid off, so you have two loans atm

Once purchase is paid off, they "graduate" it from loan to revolving credit. 

As far as credit one, you can close it or keep it along with the fees. You already took a HP for it, so might as well ride it out for a year. 

Dont start your rebuild with bunch of useless cards that you'll be closing anyway. There is no way to rush time, and by applying for cards like these, you're pretty much kicking yourself out of the game 

I am being reminded of my inq from almost two years ago to this day and had to recon last two cards with a clean, decent profile. 

So, if you want to help yourself, do nothing for a year. Pay off your debt, instead of putting money in security deposits. 

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+100

[Anonymous514]

😂😂😂 the only debt I have is 93$ for fingerhut freshstart which I'm making the payment for on Friday. The many inqs are pre bk that are still haunting me as I've been approved for everything I've applied for post bk7. Minus the 7 car inqs before I decided to just use the new family impala until I leave for basic in December.

[Anonymous514]

And besides the capital one**

[Remedios]

Alright, you got this. 

[Anonymous514]

I think I have my answers. Please close thread thanks everyone for your input. I guess I already made some mistakes but I'm learning all over again.