Hello,
I am just trying to rebuild. Approved for a Discover It Chrome Secured ($200). Approved for an Open Sky ($200). Is Open Sky considered a “Junk Card” in here?
I have 4 derogatories that should fall off between August & December 2019. I also have a Capital One Auto Loan From 2013 that was repossessed.
Is Capital One Forgiving? One of the fall offs is for a Cap One card. Should I try pre-approval? Should I try to do the rebuild with 3 cards or just the 2 already approved?
Score in the mid 500 range.
Thanks
I am just trying to rebuild. Approved for a Discover It Chrome Secured ($200). Approved for an Open Sky ($200). Is Open Sky considered a “Junk Card” in here?
I have 4 derogatories that should fall off between August & December 2019. I also have a Capital One Auto Loan From 2013 that was repossessed.
Is Capital One Forgiving? One of the fall offs is for a Cap One card. Should I try pre-approval? Should I try to do the rebuild with 3 cards or just the 2 already approved?
Score in the mid 500 range.
Thanks
3 cards plus a loan is considered ideal for a rebuild - it’s enough for account diversity and score optimization, and few enough to easily maintain. OpenSky is a great option to rebuild with. As for CapOne, you can prequal anytime you like. They’ve let people back in within a few months of burning them in bankruptcy, and a prequal harms nothing - give it a shot 
Thank you. I’m going to try it. I’m ready to get to work on this! This space is very encouraging.
You’ll find everything you could possibly want or need to rebuild on this forum - it’s truly a gem. Ask questions, read, and follow advice here and you’ll be sitting pretty
I’ve seen your post before I joined. Thank you. I thought joining would be a good idea. Thank you.
Hello,
Maybe I should try the Citi card. Maybe they will graduate me to unsecured in the future. Every time you pull that trigger you’re worried. I keep reading I need three cards a maybe a loan.
Thanks
Maybe I should try the Citi card. Maybe they will graduate me to unsecured in the future. Every time you pull that trigger you’re worried. I keep reading I need three cards a maybe a loan.
Thanks
@Anonymous wrote:
Cap1 is very forgiving in my experience.
My only regret in my rebuild is that I didn't plan more strategically.
I now have fairly decent scores and would LOVE a Chase card but over app'd this year so won't come under the 5/24 rule for quite some time.
Also, I now have a couple of cards that I know I won't keep long term because they don't really bring anything for me.
I have a Discover secured card, like you, that is set to graduate this month (hopefully) and it's a keeper because it graduates into something useful (cashback with rotating categories and a credit line with future growth potential and no AF).
I also have a couple of moderate limit cards that are 'good' because there is decent spending room but that I never use because there is no cashback or other rewards useful to me.
I got a Cap1 QS1 to get back in with Cap1 but it has an AF and honestly, I'm not a huge Cap1 fan, so it was a silly move on my part.
Keep your Disco and OpenSky because they are very useful to you at this point, but carefully consider the apps you make next. You don't want to open cards that you will end up closing fairly soon. Think if the long game and the factors that go into your credit like AAoA, etc.
And... congrats on your rebuild this far. 😊👍🥳
Your discover won't graduate into the IT, it will stay the chrome. You can request to change it to the IT any time after the first atateement, so you could have requested it 6 months ago.
Thank you