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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.
 
I think I need to add something bigger to my credit and pay it off seems like my score has not jumped up lately and I have a great payment history
 
mike030270 said:
Have you delved into the app? I've been meaning to since they did the overhaul and updated a bunch of things
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Haven’t done it yet but probably will soon. Always curious to see how it’s different from the previous version
 
I don't understand credit cards at all. Mom always scared me off of them, but her reasoning is because my biological dad maxing them out without her knowledge and having her file for bankruptcy. So growing up and into adulthood i always stayed away from them (i didn't know the whole story until I was older).

Kind of fucked me though because I have no credit and can't get approved for any lmao
 
Debating if i want to get that chase sapphire reserve card. I currently have the sapphire preferred card. For the reserve card, you get the airport lounges for free. I dont have that on my card. I recently got to stay in a lounge as a guest. Shit is dope. Free food and drinks while you wait.

Only thing about the card is it has a $500 annual fee. Don't know if i want to pay that. I dont think I travel that much for it to be worth it. My current card has a $100 annual fee, which is cool. I use that card for everything and got mad points on it.
 
loud-ninja said:
Debating if i want to get that chase sapphire reserve card. I currently have the sapphire preferred card. For the reserve card, you get the airport lounges for free. I dont have that on my card. I recently got to stay in a lounge as a guest. Shit is dope. Free food and drinks while you wait.

Only thing about the card is it has a $500 annual fee. Don't know if i want to pay that. I dont think I travel that much for it to be worth it. My current card has a $100 annual fee, which is cool. I use that card for everything and got mad points on it.
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$500 is too much for me. $100 I understand but damn at $500.

One of my biggest regrets is not getting one of the sapphire cards
 
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