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Some rebuilding questions

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Valued Member

Some rebuilding questions

Hi all!

 

I'm in the process of rebuilding my credit after bk. I have already got a Captial One Platinium (unsecured) and was thicking about going for the QS 1 also. My question is should I do this? Id rather had the regular QS without the annual fee. Does the QS 1 graduate into the QS?

 

Also I thought about getting a secured loan but I am currently paying a student loan so I figure I proably don't need that. 

 

Thanks.

 



Before Bankruptcy (discharged 11/18):

After Bankruptcy (current):

Message 1 of 13
12 REPLIES 12
Senior Contributor

Re: Some rebuilding questions

Stay away from the QS1. Its almost inpossible to upgrade where the Plat is much easier to get pushed to the reg QS. (If you have had about 3 months of the Plat start hitting this link to see if your can upgrade. https://verified.capitalone.com/sic-ui/#/esignin?Product=Card&Action=ProductUpgrade It would take alot of spending to get your $39 annual fee back with the QS1.

 

Check Disco and Merrick Bank pre-quals to see what pops up for your next card. You dont need a loan since your student fill the installment loan area for credit mix. What are your FICO scores. You can check at all 3 for a buck at credit check total and cancel and go back to the free EX version. Good Luck!





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 2 of 13
Valued Member

Re: Some rebuilding questions

So I tried the link and it worked! i'll receieve that card in the mail! Thanks for that! 

 

I'll check out the other cards you mentioned. My Fico scores are in my singiture but they are EX: 643 EQ: 601 TU: 601. They are also all fico 8 scores.



Before Bankruptcy (discharged 11/18):

After Bankruptcy (current):

Message 3 of 13
Senior Contributor

Re: Some rebuilding questions

Cool. Congrats! Sorry I didnt read the scores. Give Disco a shot now. https://www.discovercard.com/application/prequal?&iq_id=r43700026351813315&gclid=EAIaIQobChMImvy957r...

 

 





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 4 of 13
Valued Member

Re: Some rebuilding questions

I would, but I burned them in my bk and i've tried lol..



Before Bankruptcy (discharged 11/18):

After Bankruptcy (current):

Message 5 of 13
Senior Contributor

Re: Some rebuilding questions

When where you DC'ed?





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 6 of 13
Valued Member

Re: Some rebuilding questions

In November of 2018



Before Bankruptcy (discharged 11/18):

After Bankruptcy (current):

Message 7 of 13
Established Member

Re: Some rebuilding questions

I applied for and got approved for both the Venture 1 & QS1 about 2 years or less after my BK 13.  Right now when I go to the Upgrade page on Cap 1 I can convert my Venture 1 to the regular QS.   When I got the QS1 they gave me a good limit.....$3000 with scores in the low 600's so it worked well for me I was not complaining.  It really depends on what your goal is with these cards I mean do you want reward points, cash back stuff like that.  The venture 1 works for me because I get hotel rewards points.   Get the card that has what you need like the reward points for stuff that you buy.  Don't get a card for the sake of just getting the card.

Message 8 of 13
Senior Contributor

Re: Some rebuilding questions

Well once your a year out you may be able to get back in with Disco. Or you try for the secured that will graduate. You'll want to get to 3 cards and you already have the loan. So the FICO bonus as I call it will kick in. If you have a loal credit union you could try a secured with them also.

Try Disco's Secured:

https://www.discovercard.com/application/displayLanding?pageFileId=double-paidsearch-secured&sc=KXNU...





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 9 of 13
Senior Contributor

Re: Some rebuilding questions


@Morehouse3000 wrote:

I applied for and got approved for both the Venture 1 & QS1 about 2 years or less after my BK 13.  Right now when I go to the Upgrade page on Cap 1 I can convert my Venture 1 to the regular QS.   When I got the QS1 they gave me a good limit.....$3000 with scores in the low 600's so it worked well for me I was not complaining.  It really depends on what your goal is with these cards I mean do you want reward points, cash back stuff like that.  The venture 1 works for me because I get hotel rewards points.   Get the card that has what you need like the reward points for stuff that you buy.  Don't get a card for the sake of just getting the card.


Right now the OP needs a few starter cards to get going again. Rebuilding will have to go the starter card (bucket) way until some history is made and scores rise. Then you can get your dream cards for each catagory. Wont happen in the beginning of a fresh rebuild. Congrats on your success so far.





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 10 of 13
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