shifter's Rebuilding Thread

[Konrad2012]

Amex

Barclay

BofA

C1

Chase

Citi

Comenity

FNBO

Nordstrom

PenFed

PNC

Synchrony

US Bank

USAA

NFCU

NASA

BBVA

TD

DCU

Discover

WF

 

Regional/local banks and CUs

[shifter]

Got my NFCU account reopened with my grandfather's paperwork so that was nice.

 

I think I'm going to wait to apply with them until my new C1 and Disco cards report and one with a $2 balance which should improve my scores.

[DigDeep]

As a heads up, it hasn't been well publicized here but sometime this year NFCU tightened up on their BK requirements. They are generally turning down all unsecured requests with less than 1 year BK seasoning.

 

As long as you are ok with getting a secured card initially, I would still go for it and try for the unsecured. Make sure to try a recon before accepting a secured card. The secured card does not report as secured, if that has any appeal to you.

[shifter]

well, heard back from DCU, they don't do secured or unsecured CCs until 2 years after discharge. so no go there.

 

did get my Disco and QS1 activated so I will go with those for now and then apply for NFCU in another month or so after they report.

[tmkats]

well, heard back from DCU, they don't do secured or unsecured CCs until 2 years after discharge. so no go there.

 

did get my Disco and QS1 activated so I will go with those for now and then apply for NFCU in another month or so after they report.

I heard DCU was 3 years not 2 for BK

 

I tried 2 years post and was denied for that reason.

 

Maybe they changed?

 

Sent from my SM-G930T using Tapatalk

[shifter]

so I got a pre-app in the mail today for the Ollo MC. looked like a decent card with no AF, no FTF and a FICO score. after researching around here seemed is a new card, but might be a decent rebuilder card. so I went for it.

 

declined.

 

it's not like they didn't know about the BK from the pre-app screening. will have to wait for the letter in the mail as it doesn't seem to have any backdoor numbers for them yet.

well, I got the decline letter in the mail today and it turns out it's because of my EX freeze. I guess they only pull EX. makes me feel a bit better that it wasn't an actual decline after the pre-app.

 

but I decided not to try to apply again. even the letter they sent has no phone number. there's no way in the world to get a hold of them by phone. that's not a creditor I'm interested in having a relationship with.

[shifter]

so some interesting FICO08 data points.

 

Disco reported about a week after I got the card, which was right after I put a large purchase on it, so it reported about 47% util giving me an overall util of just under 25% with my one AU card.

 

my EX08 still went up 21 points with the open line of credit.

 

I called Disco last week and asked them for a mid-cycle update to show my $0 balance. that 0% util caused my score to drop 8 points.

 

the C1 statement just cut with $0 balance, but they haven't reported anywhere yet.

 

I put a $2 charge on the Disco and the next statement will cut soon and we'll see what that does to my score.

[Kat58]

You need to put $3 on Disco.

[shifter]

Amex

Barclay

BofA

C1

Chase

Citi

Comenity

FNBO

Nordstrom

PenFed

PNC

Synchrony

US Bank

USAA

Who that I burned doesn't hold a long grudge and might give me another card sometime soon? Besides C1.

[CTSoxFan]

You might be able to get in with a secured card with one of them, but seeing as you are so close from discharge it will be tough for anything more. I was able to get back with all of my IIB companies eventually with the exception of AmEx, but most took 7+ years and on recon.

[shifter]

the C1 statement just cut with $0 balance, but they haven't reported anywhere yet.

C1 just showed up on EX. EX08 -2 points as I would assume for another new account.

 

interesting though because I thought the first 3 open accounts actually improved your score. perhaps, it's not new accounts, it's accounts in general. since I still have a very thick file, although most is closed, the 3 accounts thing doesn't apply.

[Occam]

 

the C1 statement just cut with $0 balance, but they haven't reported anywhere yet.

C1 just showed up on EX. EX08 -2 points as I would assume for another new account.

 

interesting though because I thought the first 3 open accounts actually improved your score. perhaps, it's not new accounts, it's accounts in general. since I still have a very thick file, although most is closed, the 3 accounts thing doesn't apply.

 

Interesting. You may have the first datapoint from your bucket because very few people start serious rebuilding so soon after BK.

 

Since you only lost 2 it should turn positive very fast.

 

But since you're no longer getting instant score boosts maybe you should switch to a regular program of sprees to build up your file. Maybe a round of 4 or so every 6-7 months?

[nooneimportant]

 

the C1 statement just cut with $0 balance, but they haven't reported anywhere yet.

C1 just showed up on EX. EX08 -2 points as I would assume for another new account.

 

interesting though because I thought the first 3 open accounts actually improved your score. perhaps, it's not new accounts, it's accounts in general. since I still have a very thick file, although most is closed, the 3 accounts thing doesn't apply.

My understanding was that having 3 open revolving accounts will provide for a higher score, but I don't think that negates the effect of new accounts. Once they age you will have a higher score than if you had only 1 or 2 accounts.

[cv91915]

 

the C1 statement just cut with $0 balance, but they haven't reported anywhere yet.

C1 just showed up on EX. EX08 -2 points as I would assume for another new account.interesting though because I thought the first 3 open accounts actually improved your score. perhaps, it's not new accounts, it's accounts in general. since I still have a very thick file, although most is closed, the 3 accounts thing doesn't apply.

I have always assumed that the sizable score increases were from the first revolving accounts to report (starting from zero revolving accounts reporting and going up from there).

 

That doesn't mean my assumption is correct.

[PotO]

Just curious, where’s TampaDude?

[Occam]

 

 

the C1 statement just cut with $0 balance, but they haven't reported anywhere yet.

C1 just showed up on EX. EX08 -2 points as I would assume for another new account.

 

interesting though because I thought the first 3 open accounts actually improved your score. perhaps, it's not new accounts, it's accounts in general. since I still have a very thick file, although most is closed, the 3 accounts thing doesn't apply.

My understanding was that having 3 open revolving accounts will provide for a higher score, but I don't think that negates the effect of new accounts. Once they age you will have a higher score than if you had only 1 or 2 accounts.

 

Usually the boost from having 3 open revolvers exceeds the drop from (new accounts +inquiries). So you get a large instant increase from #1, a smaller instant increase from #2, and (usually) another small instant increase from #3. You then get a further increase over the next 2 years as the effects of inqs & new accounts fade.

 

Your understanding is exactly how it works with revolvers #4 and #5 though. It can take 6-24 months to see a boost from #5. More than 5 will not directly increase your FICOs but bulking up your portfolio will stabilize your AAOA & AAoOAs over the long term.

[shifter]

so I got my 3 updated scores from CCT today.

 

EX 649, EQ 671, TU 635

 

really surprised at such a change since last month.

 

on 10/30 my scores were

 

EX 625, EQ 655, TU 612

 

I'm not really sure what has changed. my EX was still 625 just a few days ago.

 

must be a new month (December) has put something into a new bucket or time category.

[CTSoxFan]

it CCT, so I wouldn't put much credence into the scores, but another month of on-time reporting never hurts, especially coming off a BK.

[shifter]

it CCT, so I wouldn't put much credence into the scores

why not? they are FICO08.

[DigDeep]

CCT is Experian. You should be fine. I had no problems with accuracy and used CCT for many months.

[mendelssohn]

so I got my 3 updated scores from CCT today.

 

EX 649, EQ 671, TU 635

 

really surprised at such a change since last month.

 

on 10/30 my scores were

 

EX 625, EQ 655, TU 612

 

I'm not really sure what has changed. my EX was still 625 just a few days ago.

 

must be a new month (December) has put something into a new bucket or time category.

Nice progress!!!

[shifter]

third statement just cut on my QS1, so I went for a CLI.

 

got a decline back with this note:

 

A credit limit increase is currently not available upon request because Capital One is

evaluating account activity at assigned credit limits.

I guess they want more than 3 months after you burned them in BK. I'll give it another 3 months.

[ubercat]

third statement just cut on my QS1, so I went for a CLI.

 

got a decline back with this note:

 

A credit limit increase is currently not available upon request because Capital One is

evaluating account activity at assigned credit limits.

I guess they want more than 3 months after you burned them in BK. I'll give it another 3 months.

 

 

No. Read that again.

[shifter]

Which part?

[tobettercredit]

They simply mean to say it's too early for CLI. They are being more explicit than the usual denial letter.