ShortCircuit's journey to better credit scores

[ShortCircuit]

Ok folks, I'm very new at this so I thought I'd post my progress so that maybe I can get some advice. Meanwhile, I am trying to read as much as possible, but the amount of information that is available here is so overwhelming(not complaining).

 

Here is my story;

 

I recently filed BK7 in 1/2015, it was discharged 5/6/15. I have checked all reports, and they all show IIB, and are reporting $0 balances.

 

Two weeks after my bk was discharged I walked into a dealership to purchase a car. I was approved for a loan through Americredit at 11.9%. My Fico scores were 500-505. I have a stable job, and decent income. I'm guessing that is what helped get me approved.

 

I have been contemplating applying for a credit card (secured or unsecured) so that I can restart the building process. I applied for Cap1 about a week after discharge, and was declined. I received an approval from Fingerhut ($700), and accepted it. I charged a $40 item in hopes that it gets reported to all three right away.

 

I have about $500 set aside and I was thinking about tying it up in a secured card.

 

There it is folks. I'd appreciate any advice, or comments.

[tweak]

Here are threads about secured cards:

What are your guy's 3 favorite secured cards and why?

The Master Secured Credit Cards Thread

For credit building, 3 cards is ideal.

Try to find cards that will graduate if possible, but that may be unlikely with your recent discharge.

Store cards won't help you as much.

Unless they are actually useful to you for discounts at places you shop anyway, I'd avoid getting more store cards.

You might be able to get Fingerhut to report by pushing a small overpayment from your bank's bill pay to them -- rather than buying their products.

Good luck!

[ShortCircuit]

 

Here are threads about secured cards:

What are your guy's 3 favorite secured cards and why?

The Master Secured Credit Cards Thread

For credit building, 3 cards is ideal.

Try to find cards that will graduate if possible, but that may be unlikely with your recent discharge.

Store cards won't help you as much.

Unless they are actually useful to you for discounts at places you shop anyway, I'd avoid getting more store cards.

You might be able to get Fingerhut to report by pushing a small overpayment from your bank's bill pay to them -- rather than buying their products.

Good luck!

 

 

Thanks for the advice and links.

[ShortCircuit]

I just recieved the Cap1 email respnse as to why I was declined for their Secured, and Quicksilver card; "Too many delinquent past or present Cap1 credit obligations".

 

So much for forgiving right away. I guess I fall under the small percentage of people who wont be able to obtain a card right after Bk7.

[tweak]

Sorry about Cap1. They may let you back in (possibly for unsecured) after a year.

 

If you want a secured card, maybe look at SDFCU (State Dept Fed Credit Union).

 

 

Good luck!

[Prime24]

Try the Open Sky secured card. They wont check your credit to open an account. But I don't think it'll ever get unsecured.

[ShortCircuit]

I received a Pre-Approval in the mail from First Premier today for a "platinum card", with a $300 limit. It has a $75 fee. Am I crazy to think that I'm contemplating accepting their offer?

[tweak]

Don't. Do. It.

 

Stay away from First Premier and Credit One.

Edited June 11, 2015 by tweak

[ShortCircuit]

Don't. Do. It.

 

Stay away from First Premier and Credit One.

 

Ok, will do. In the shredder it goes.

[ShortCircuit]

Hello again folks. I am searching for a new banking institution. I am currently with a credit union who just doesnt seem to offer any benefits being a member. I was previously with NFCU, but included them in BK7, so I'm sure my chances of rebuilding with them are slim to none. If it matters, I'm in Texas. Can anyone recommend a decent bank, or credit union? I would be direct depositing, my paycheck along with my wife's paycheck. Thanks.

[cv91915]

Hello again folks. I am searching for a new banking institution. I am currently with a credit union who just doesnt seem to offer any benefits being a member. I was previously with NFCU, but included them in BK7, so I'm sure my chances of rebuilding with them are slim to none. If it matters, I'm in Texas. Can anyone recommend a decent bank, or credit union? I would be direct depositing, my paycheck along with my wife's paycheck. Thanks.

 

What kind of benefits are you seeking?

 

There are thousands of places to bank.

[ShortCircuit]

 

Hello again folks. I am searching for a new banking institution. I am currently with a credit union who just doesnt seem to offer any benefits being a member. I was previously with NFCU, but included them in BK7, so I'm sure my chances of rebuilding with them are slim to none. If it matters, I'm in Texas. Can anyone recommend a decent bank, or credit union? I would be direct depositing, my paycheck along with my wife's paycheck. Thanks.

 

What kind of benefits are you seeking?

 

There are thousands of places to bank.

 

I know this is going to sound silly, but I miss NFCU, and was hoping for another CU similar to them.

 

I enjoyed their 24/7 customer service, great rates, generous CL's, and their exclusiveness to militairy.

[cv91915]

 

 

Hello again folks. I am searching for a new banking institution. I am currently with a credit union who just doesnt seem to offer any benefits being a member. I was previously with NFCU, but included them in BK7, so I'm sure my chances of rebuilding with them are slim to none. If it matters, I'm in Texas. Can anyone recommend a decent bank, or credit union? I would be direct depositing, my paycheck along with my wife's paycheck. Thanks.

 

What kind of benefits are you seeking?

 

There are thousands of places to bank.

 

I know this is going to sound silly, but I miss NFCU, and was hoping for another CU similar to them.

 

I enjoyed their 24/7 customer service, great rates, generous CL's, and their exclusiveness to militairy.

 

 

If you have a career fetish for the military you might like USAA. Also, it's not a credit union, but it sucks like one.

[NAC]

If you're in north Texas, there's Texas trust CU. they also offer a secured card that turns after so long (6-12mo I think).