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Lets talk credit and credit cards?

@AZTG im probably gonna file for bankruptcy in the next few months. When you filed, did you eventually try to get cards with the companies that were part of the bankruptcy? Were you successful in doing so?
 
SportsByRo said:
@AZTG im probably gonna file for bankruptcy in the next few months. When you filed, did you eventually try to get cards with the companies that were part of the bankruptcy? Were you successful in doing so?
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Yessir. I had a capital one card before, and they gave me a card like 6 months after the bankruptcy.

The key to building good credit for me was a week after bankruptcy was done, I opened a secure credit card. Gave them $500, they gave me a $500 limit, and I used that.

In like 5 or 6 months, after paying on time, capital one themselves sent me an offer. It was like 1k limit. I took that. Closed the secure credit card and got my $500 back.

Doing that sped up me building credit back a exponentially.

Do the same and you'll be good fam
 
Working towards buying my first house next year. I was always told to stay away from credit cards and I’m glad I did cuz if I had a credit card in my 20s I would’ve ran that shit up.


I just copped my first credit card last week.
 
Goldie said:
Working towards buying my first house next year. I was always told to stay away from credit cards and I’m glad I did cuz if I had a credit card in my 20s I would’ve ran that shit up.


I just copped my first credit card last week.
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How many tradelines did your LO tell you you needed to qualify? Back when I was an LO and AE, you needed 3 open tradelines to get an A-paper mortgage. Haven't kept up with the industry so I don't know what's changed.
 
konceptjones said:
How many tradelines did your LO tell you you needed to qualify? Back when I was an LO and AE, you needed 3 open tradelines to get an A-paper mortgage. Haven't kept up with the industry so I don't know what's changed.
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I haven’t got that far yet. The lease for my spot doesn’t end til next March, so I’ll probably officially start looking for spots later this year.
 
@AZTG

After all this time I finally filed for bankruptcy a few weeks ago. Finally getting it over with. They still don’t know if I qualify for chapter 7 or 13, hopefully 7. Hope it all works out. I’ll keep you updated
 
Agent_Ro said:
@AZTG

After all this time I finally filed for bankruptcy a few weeks ago. Finally getting it over with. They still don’t know if I qualify for chapter 7 or 13, hopefully 7. Hope it all works out. I’ll keep you updated
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Good shit fam.

Does it come with it's challenges? Sure. But for me it was one of the best decisions I made.

Try to get a new card the week your bankruptcy is approved. Capital one usually has some easy to get cards. You'll only get like $500 for the limit but it's worth it. Sooner you build credit back up the better.

I had to get a secured credit card. That shit reports to your credit like a regular card though. Very worth it.
 
Agent_Ro said:
@AZTG

After all this time I finally filed for bankruptcy a few weeks ago. Finally getting it over with. They still don’t know if I qualify for chapter 7 or 13, hopefully 7. Hope it all works out. I’ll keep you updated
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We did our Ch7 largely ourselves. Just had a chick that did doc prep for us for a couple hundred. Had one error in our shit that was our fault and it got caught during that meeting of creditors so we had to go back, fix the shit and bring it back to the court. Took a few months but it was finally discharged back in early 2017.
 
AZTG said:
Good shit fam.

Does it come with it's challenges? Sure. But for me it was one of the best decisions I made.

Try to get a new card the week your bankruptcy is approved. Capital one usually has some easy to get cards. You'll only get like $500 for the limit but it's worth it. Sooner you build credit back up the better.

I had to get a secured credit card. That shit reports to your credit like a regular card though. Very worth it.
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I copped one from CapOne right after ours was done. Also got one from Credit One, that turned into two cards from them and I was able to tack on a Cap One Spark Business card when my business was doing better.
 
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