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1. The Tri-Merge (Where did you get it?) Is still NOT a very useful report especially when we are talking about a score and getting new credit (They are FAKO)
You need to buy at least TU HERE... here in myFICO.com
it's not always a line drawn in the sand but for now do not apply for anything with any of the banks that you have burned, Especially Amex and Citi.
GE would be a fabulous place to look to and that's why I push you getting your TU because they almost 100% pull TU these days.
Where do you shop, where do you buy gas? you might start with a store card but many of their partnerships have a visa or amex level card too...
Chevron, Walmart, Dillards, JCPenney, the list is long!
you get 1, you can probably get 10... I suggest no more than 3-4 every 3-6 months! some will gasp at the thought of applying for that many!
then look to doing the pre-qual at Discover, you could probably get a Capital One hands down in seconds, but I would suggest just trying to get cards that will accept you and will grow with you and while we have lots of success lately with Cap1 Exec office starting to take notice of the deminishing brand and stepping up, it's still to new to see if it will help someone getting a rebuilder card right now and 12 months down the road getting a real limit.
Capital One is BK friendly as long as your did not burn them in the BK
I applied for Discover in Oct and was declined specifically for BK. My BK was dismissed in 2005.Fast forward to Jan, I applied again and was approved- BK still on my file but its now 8 years instead of 7- don't know if that's the reason- score was +/- 5 points. Util was even lower in October.
YMMV
@MovingForward_2012 wrote:
Trust me for Cap1 you shouldn't have a BK on file. Discover is always for excellent credit. For Cap1, it is subprime and prime so you better choose wisely.
Maybe I'm misunderstanding what you are saying, but I was approved for Cap1 MC unsecured about 2 mos. out of BK. I do know the Cap1 Visa products have higher requirements. Cap1 may not be prime, but it's still a good rebuilding card.
Capital One has prime and subprime products. I got my first post BK credit card through them, then a business card that also reports to personal credit. I have cancelled the personal card but the business card was in the credit steps program. I recently got the CL increased from $1500 to $5000 by going through the EO. If you get your CL up with them, there is no way for a company pulling your credit report to see if your card is a prime or subprime card - all they care about are things like your CL and utilization.
Discover isn't always for perfect credit and there are a lot of people who can attest to that. I got my Discover about 6 months ago being 7 years out of bankruptcy. I had to recon and explain my bankruptcy but ended up being approved.
Barclays is a good starting point. They are good on recons. I understand that they can be very sensitive to opening new accounts after opening an account with them, but they haven't bothered me. I have opened roughly 10 new accounts since I've had my account but I use my card frequently and pay in full, making 2 or 3 payments per month.
A GE backed card is also a great starting point. If you shop at Walmart, apply for a card. They usually start you low, but you can request a CLI every four months (don't be afraid to ask for double or triple what you have because they will counteroffer if they think it is too high). You can easily find a list of GE back cards by doing a simple search for it.
One thing to note is that if you get a denial, call the backdoor number and recon it. Sometimes a denial is because they can't confirm your identity or because there are a few questions they want to ask you before approving you. I had to recon for Barclays, Discover and Chase.