@Hugh_Jarmes187 i would definitly look for cards that offer pre apporvals - before applying for discover did u try prequalifying to see what cards they would offer you?
Welcome to the forums @Hugh_Jarmes187
Basically its as easy as getting rid of the baddies before the goodies can begin. Work out settlements with what you owe and get them in the past. Then more doors will open up. With a "open" CO and a repo. Tough one to get to the next level.
Go after a clean file before the thin file. The good never covers up the bad in the credit world.
@Hugh_Jarmes187 wrote:I've been reading SoulMaster's guide for 700+ in 2yr after d/c BK, but I'm not sure if it is applicable in my situation and/or what changes to implement.
Have a 670 score on XPN and EFX.
Mainly looking to increase trade lines so I don't have a thin file.
baddies are:
an auto repo, a $2k personal loan charge off, and an open credit card collection for $1k.
FDOD was 9/18 for the loan c/o and 10/18 for the repo and FNBO credit card collection.
My credit report is essentially one repo, one charge off, one collection, and then my Capital One Quicksilver card with 3 years of perfect payment history.
Recently was denied for the Chase Freedom Unlimited, Discover It Chrome, and Fidelity Rewards card. (Of these 3 Disco is the only one that might have issued you new credit, Elan Financial is US Bank one of the most conservative banks around and for Chase the fact they are not settled is reason for denial)
Didn't really think having a 4 year old repo and charge off would prevent me from getting any credit card not issued by Capital One.... got denied on the Chase recon and Discover told me they don't do recons.
In summation, 3 years of perfect payment history doesn't count for much and perhaps having a 4yr old repo and charge off is basically an open bk, yet to be discharged.
Is there any credit cards I would be approved for? Perhaps PenFed, Amazon, or secured card from Discover/US Bank?
Or does the buck stop here until another 3 years pass? Any advice and insight is much appreciated.
My advice is to settle the CC and personal loan problem, repo I would not touch at this point unless they use it as reason for denial. PenFed isnt going to go for credit until you settle the CC & personal loan problems as well, once you do wait 3 months then see what you can do with them. I would move for a secured OpenSky they dont check credit for approval of the card, this would help boost your Fico as you need 3 open revolvers to maximize this score.
