Jump to content

13 Months post CH7 what cards to add?


Recommended Posts

I’m 13 months post CH7 and currently have a SDFCU secured card with a 1k limit and a credit one unsecured with a $500 limit. I just paid off my reaffirmed its loan (29k) and opened a new 40k auto loan which hasn’t hit the resorts yet. I was thinking of spring another card or so while I have the one loan paid in full and the new loan hasn’t hit the reports. Annual income is 89k and my FICO is 685 and CK FAKOs are 698 and 693.

 

Capital One preselector has me pre approved for the platinum and quick silver at 26.99 APR.... Yikes... I mean the were included in the CH7 on 3 cards for $4000. I’m about to be deployed overseas and thought about SCRA to lower the r at e on the card as I had luck with them before by contacting the corporate office.

 

Banks IIB were NFCU, PenFed, USAA, Capital One.

 

Reason for CH7 was a very expensive divorce with me inheriting her debt to avoid alimony.

Link to post
Share on other sites

Posted (edited)

A Quicksilver would allow you to step up to a rewards card and get 1.5% back on everything you charge on the card.  That's decent at this point.

 

Just pay the statement balance in full before the due date and it won't matter if the APR is 11,000,000.9%.  A card's APR hasn't been a factor in any credit card decision in my lifetime.

 

If you anticipate an ongoing need to occasionally float a balance, get a card that excels at that, and then only use it for that purpose (since it probably won't pay any rewards).

 

 

 

 

Edited by cv91915
Link to post
Share on other sites
4 hours ago, cv91915 said:

A Quicksilver would allow you to step up to a rewards card and get 1.5% back on everything you charge on the card.  That's decent at this point.

 

Just pay the statement balance in full before the due date and it won't matter if the APR is 11,000,000.9%.  A card's APR hasn't been a factor in any credit card decision in my lifetime.

 

If you anticipate an ongoing need to occasionally float a balance, get a card that excels at that, and then only use it for that purpose (since it probably won't pay any rewards).

 

 

 

 

Pulled the trigger and got a $3k limit. Was surprised at that limit to restart my journey.

Link to post
Share on other sites

6-7 years ago the SDFCU secured card didn't graduate.  I had the card for 2 years and started with $2500 and managed to scrape together 10K so that the last reported line would be as high as possible before closing.  I applied for their 2% cash back card and was approved for a $30K CL which was my highest limit at the time. I suspect the "high" balance secured card was the reason for the unsecured card line. 

 

Digital Credit Union (DCU) approved me for a $3K unsecured card at the same time I got the SDFCU secured card.  

 

Wells Fargo approved me for a secured card 1 year post and graduated exactly 12 months later.   

 

I filed bk in 2010 and I will cosign the advice to get into the habit of paying off your cards in full each month. 

 

Good luck.  

Link to post
Share on other sites
4 hours ago, ihatecollections said:

 Not yet. I got that one in July.

 

Let us know how that goes, they just started allowing cards to graduate in the recent past. I got two of them in January.

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.




  • Member Statistics

    • Total Members
      180,857
    • Most Online
      2,046

    Newest Member
    Jamesbrownbey
    Joined
×
×
  • Create New...

Important Information

Guidelines