Here's an update without cluttering the main rebuild post. Am only a couple months post discharge and picked up my three cards.
Card 1: CapOne Savor, almost immediately after discharge. 3K limit. I had never used CapOne before this, but I'm loving this card and their interface. I don't need one, but they're also already starting to message me about availability for a car loan, in case that is helpful for anyone.
Card 2: US Bank Cash + Secured Card, a month after discharge. 5K secured limit. Lovely interface that allows you to pull in external accounts if you want to use their site to manage all your accounts. Don't like that they charge foreign transaction fees.
- Chime, this was a mistake and I already cancelled the account. They require that you set up a checking account first, then you MUST add direct deposit before you can get an invite to apply for their secured credit card. To top it off, they don't report utilization % to bureaus. Just don't do it.
Card 3: CapOne Platinum Secured Card, two months after discharge. 1K secured limit. They wouldn't approve a second card immediately after the first, but still quick for a second approval.
It was actually a bit difficult trying to find a third card, glad I was able to get another approval with CapOne. Some issuers that I didn't even burn in the BK were denying me in the pre-approval tools.
I've had the most difficult time setting up a basic savings account with PenFed (in hopes of getting a secured share loan). They want a ton of information/documentation, in a very specific format that you won't find out but through trial and failure and calling them every day to follow up as their review and messaging system does not relay any information back to the customer. And I've had the application erroneously closed out/withdrawn from their end three times, with no explanation as to why except it was taking too long (because of them). Pretty much giving up on PenFed. I don't have the proper connection to open up with Navy Federal. Is there another recommended secured share loan servicer that will allow you to pay off most of the balance and push back the payment to the end of the term?
Card 1: CapOne Savor, almost immediately after discharge. 3K limit. I had never used CapOne before this, but I'm loving this card and their interface. I don't need one, but they're also already starting to message me about availability for a car loan, in case that is helpful for anyone.
Card 2: US Bank Cash + Secured Card, a month after discharge. 5K secured limit. Lovely interface that allows you to pull in external accounts if you want to use their site to manage all your accounts. Don't like that they charge foreign transaction fees.
- Chime, this was a mistake and I already cancelled the account. They require that you set up a checking account first, then you MUST add direct deposit before you can get an invite to apply for their secured credit card. To top it off, they don't report utilization % to bureaus. Just don't do it.
Card 3: CapOne Platinum Secured Card, two months after discharge. 1K secured limit. They wouldn't approve a second card immediately after the first, but still quick for a second approval.
It was actually a bit difficult trying to find a third card, glad I was able to get another approval with CapOne. Some issuers that I didn't even burn in the BK were denying me in the pre-approval tools.
I've had the most difficult time setting up a basic savings account with PenFed (in hopes of getting a secured share loan). They want a ton of information/documentation, in a very specific format that you won't find out but through trial and failure and calling them every day to follow up as their review and messaging system does not relay any information back to the customer. And I've had the application erroneously closed out/withdrawn from their end three times, with no explanation as to why except it was taking too long (because of them). Pretty much giving up on PenFed. I don't have the proper connection to open up with Navy Federal. Is there another recommended secured share loan servicer that will allow you to pay off most of the balance and push back the payment to the end of the term?