My rebuild is complete as far as what I am able to do with my current profile so I decided to help a friend. Rebuilding after a BK7 can be rough if you're uninformed, and with all the predatory lenders knocking down your door after they see you filed, it can be tough to know what to do.
The first order of business was to have her ignore Credit One. She had already gotten three snail mail offers from them with the astronomical fees. I want her rebuild to be free in the sense that no annual fees, account maintenance fees, or deposits were required. She created a Credit Karma account and got the "pre-approved" for Ollo Platinum right away. She was approved for $300 SL.
Went searching for another no fee card and did the usual pre-qualify suggestions for rebuilding.
Discover - not burned, but no offers
Cap1 - burned, no offers
Indigo - no offers
Merrick - no offers
She happened to get a pre-qualified mailer for the Mission Lane Visa the next day. It had no AF or other fees, so she applied. Approved for $300 SL. I advised that she should use these for now and wait 6 months or so and try Cap1 and Discover again.
It feels good to help someone rebuild that would have no doubt went for the first predatory card that came her way. Thanks to this forum I was able to giuide her in a direction that should help her rebuild successfully.
Great start for her, she's lucky to have you! It's also wonderful that she trusts you with the experience!
