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Starting to rebuild

Re: Starting to rebuild

I would go for both. Get your unsecured first! Just my honest opinion. But, I would do both in the same day. Remember, Cap1 will triple pull. Let us know what you do! 

Message 11 of 17
Valued Contributor

Re: Starting to rebuild

Check for prequal cards from Cap One, Discover, and Merrick.

Solid prequals and non pred banks.

Maybe 1 secured card from a good back if no prequals.

I would only appy to 1 or 2 store cards that you will use often and offer great rewards.

I would not apply for more than 3 cards every 6 months.

Credit rebuild started 01/01/14  -  $100k cc cl goal achieved 10/01/17  -  In the garden with $200k unsecured credit.


10% Rotating - Discover                 5%-20% - Amazon              5%-10% - Lowes           5% Gas & Sporting - Ducks Unlim
4% Dining & Entertain - Savor        3% Airlines & Hotels & Car Rental - Propel            2% Everything Else - Venture

    $ 30,000          $ 28,500          $ 25,750          $ 17,500           $8,000             $ 7,500             $ 4,000            $ 3,500        

                                                      $ 30,000           $ 10,000         $ 10,000           $ 4,000    
Message 12 of 17

Re: Starting to rebuild

Thanks again for all of the great discussion.  Today I applied and was approved for both:


Cap1 Platinum - $3000 CL

Discover IT Secured - $300 deposit

***and learned how to add them to signature!*** 


I plan on never letting either card get above 10% utlization each statement, and of course PIF.  Should I make payments before statements post so some statements show a $0 balance?  The "BK7 to 700 in 24 months"  guide discusses this but I have heard mixed reviews.


I do frequently shop on Amazon and Lowe's so would love to eventually apply for 1 of these cards, should I wait 5+ months before looking for a 3rd card?

Credit Rebuild started 9/14/2018

Message 13 of 17

Re: Starting to rebuild

Wow! Congrats on the SL of your unsecured Cap1 card! I'm unsure of what to say for your 3rd card. I'm assuming you could apply for a 3rd to let them all age together, but I'm not sure how bk friendly they are. Best of luck! 

Message 14 of 17
Established Contributor

Re: Starting to rebuild

I prefer bank cards instead of store cards. Lowes gives more generous starting line of credit than Home Depot. I think Lowes like a score of mid 600s before they approve you. 


Have you received your FICO scores yet post BK? 


Amazon, I'm not sure about BK friendly, 5% rewards, but Discover throughout the year by quarters has a 5% category, Amazon will be from Oct, Nov and December.  Then it will change Jan-Mar, etc. 


IMHO, I'd apply only within this month, and garden (meaning no new apps) for a year to let the inquiries age off and let the age of youngest account hit the year mark -all at the same time. You will receive your best bump on any youngest card crossing that age threshold. 


Congrats on the 2 cards so far! 

Starting Score: 2/23/2017 Score 8 EQ 651 TU 659 EX 679
Current Score:08/07/2018 Score 8 EQ 817 TU 833 EX 785
Mortgage Scores 07/23/2018 EQ 782 TU 773 EX 786
Goal Score: 760+ ATB FICO 8-Achieved 4/2018, Middle Mortgage Score 782-Achieved 760+ 2/2018
Message 15 of 17

Re: Starting to rebuild

Thanks guys!!


CreditWise, through the Cap1 app, is showing a score of 657 but I understand that this is the TransUnion Vantage score instead of a true FICO score.  I plan on pulling my free CR in a few weeks once I'm 1 month post-discharge.  I'll then try to clear up my credit report.


Do you think the Lowe's card is still a possibility given my recent discharge and mid-600s score? I understand the importance of opening all accounts in the same month.

Credit Rebuild started 9/14/2018

Message 16 of 17

Re: Starting to rebuild

You can pull your FICO from for all 3 without dinging your credit. It's a $1 trial and you can cancel within the website before the 7 days to avoid the $30 monthly charge. FICO scores are usually different (up or down) from your Vantage score from CK.
Message 17 of 17