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Hello FICO Pals!
Please help me.
What a nightmare... the last few years. I'll spare you the story as we all have one.
I have learned so much from all of you, thank you! I no longer feel like a deadbeat after reading what you have shared. I now know I am not alone.
I Short Sold my house 11/08 and both notes were with BOA, originated by CW 06/06.
I was granted a secured cc by BOA 12/07 by BOA but subsequently closed it as BK7 was imminent. I still have my BOA Checking, always in good standing.
I was discharged BK7 06/10.
Here are my recent scores:
TU: 580
EQ (Beacon in 'ole fashioned FL): 580
EXP/FAKO: 610
In my BK7 Discharge, there were no tradelines with Citibank.
Being in FL, I understand most creditors like to pull the Equifax/Beacon.
From your threads it appears as though the following hard inquiries are likely:
BOA: EXP/FAKO
FIFTH THIRD 5/3: TU
CITI: EQ
FICO Pals, who should I apply with first?
Do you think I am screwed with BOA with the Short Sale in 2008 on their note from Country Wide?
Will CITI flat out deny me because of my BK7?
Any thoughts or advice on Fifth Third for a FL Resident w a recent BK?
Thank you all!
I appreciate your guidance and support!
Perhabs you could go with a Capitol one secured or something along those lines. I personally got an Applied bank card a year and 7 months ago and only found out a few months ago that it only reported to two out of the three major credit agencies.
I just became a member of suncoast schools fgu. In about 6-8 months time I am going to apply for credit with them.
Good luck to you
Hey,
I would Skip 5/3 as they are kind of picky about who they approve for thier SC, BOA turned me down also. I have a PNC bank SC and love it! There were no loops or fanfare...I just sent my deposit and I had a card a week later! BTW my scores were 490-515 at the time and they do report to all three. Hope this helps!!!
D
You can go to Whogavemecredit.com and see what others under similar circumstances were approved for.
Many of the major banks provide secured cards mostly for people with no credit to get started. Many are not BK friendly. BofA and Citi are not likely.
Secured cards are your future for several years, so you should pick carefully based on terms and conditions. The other options are the sub prime unsecured which cost way too much in fees.
I have the following 3 cards and suggest you look at them.
Captial One secured card -
It is brand new, so don't know how BK friendly.
Low Annual Fee $24,
start at $200 deposit , easy to add more
they will check your credit and add unsecured CL as your credit improves
HSBC/Orchard
Fairly easy to qualify for
Annual Fee $39 or so
decent terms
will unsecure
Public Savings Bank
No Credit check, approved based on indentity check.
1 time application fee $79
No annual fee
0% APR for six months
Stay secure forever,
I would try the first 2 and if denied try the Public Savings Bank. Once you have one for 6 months to a year, getting more will be easier.
BoA denied me for a secured, and I had no BK, just low score.
Citi secure is said to "refuse no one", I would just try,
Remember, inquiries only heart you for 12 month and as time goes by your score can start to raise.
The new CARD act chaned the rules about most CCs so there is no golden solution out there other then trying.
Let us know how you progress.
Good luck,
@GordonShumway wrote:BoA denied me for a secured, and I had no BK, just low score.
Citi secure is said to "refuse no one", I would just try,
Remember, inquiries only heart you for 12 month and as time goes by your score can start to raise.
The new CARD act chaned the rules about most CCs so there is no golden solution out there other then trying.
Let us know how you progress.
Good luck,
With a fresh BK, the effect of inquiries is irrelevant. No real harm in applying and getting denied.
@Wolf3 wrote:
With a fresh BK, the effect of inquiries is irrelevant. No real harm in applying and getting denied.
opps, didn't realize how fresh that BK7 is. I stand corrected.
D,
Does PNC Bank offer a secured card?
Thanks,
JJ
JJ,
Yes thats what I have, only $200 deposit to start...easy terms and pmt!!
D