Hopefully on track with my rebuild!

[texasguppie]

My No Asset BK7 was discharged July 11, 2017.
My Credit One card application was approved with a $500 CL and should land in my mailbox in 7-10 days.
My share secured $500 loan with my CU was approved yesterday.
My CU representative wants me to apply for a $500 share secured VISA in 30 days.
She said with 6 months of on-time payments and with proper utilization it will convert to a regular card WITH a CL increase.
Six months from when that happens I'll see if Cap1 will show me forgiveness and if they do I'll close the Credit One card before I'm hit with the annual fee.
The structure that this forum provides is GOLD for those who learned their lesson through BK and wish to move past the stigma and demonstrate greater financial restraint and responsibility.
Thank you!

[gdale6]

Good work so far. You need 3 open CCs to drive your Fico so you might want to grab another secured.

[texasguppie]

I agree!
Any suggestions?

[gdale6]

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@texasguppie wrote:
I agree!
Any suggestions?

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I will give you the list of secured cards, some may no longer be avail but the bulk are.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Secured-Cards-Database/td-p/3846302

[Anonymous]

The list given is great
I will share my thoughts

I don't see paying AF as there are too many cards w/o them

IMO Discover is choice #1
The secured amount is only $200, tying up less cash thus allowing more cash available to secure more TLs, which is the plan
Discover is great long-term partner to have, we know they graduate accounts and could be a vendor for life

Next:
Navy FCU if one is eligible, nothing bad to say about Navy = love them
However the minimum deposit is $500, which IMO is better spent with limited funds securing a $200 Discover and a $300 Visa with U.S. Bank via Harley Davidson and apping for the generous Navy card after a other two accounts report and age a few months, that way with limited funds one spreads the $500 and builds 3 TLs vs just one

Harley Davidson U.S. Bank card is a decent option, it works and seems to graduate differently than the actual U.S. Bank branded card so beware only vouching for the H.D. branded card

There are many other options, I like many of the CU options vs many of the big brand name banks ( but research) in general some of the big boys have stips about age of BKs and last defaults one must know before they burn HPs, assuming an auto approval because it's 'secured'

IMO the goal is to grab the 3 reporting TLs and sort out the 'name brands' later, as the scoring model doesn't care about the brand name, just raw data

That's why for growth and building score purposes the on-time payments and % of utilization value is the same for a $200 Discover vs a $2000 one