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Declined for unsecured card with 650 score
I declared Chapter 7 bankruptcy 2 years ago and was discharged several months later. Being unemployed at the time, I concentrated first on getting a new job which I succeeded in doing last summer, and since then have been working on rebuilding my finances including my credit. I obtained a secured card from Capital One at the beginning of this year, putting down a $500 deposit, with a sub-600 credit score, and have made on-time payments for more than the minimum thereafter. I was rewarded last month by having my credit line raised by $300 and also saw substantial increases in both my Experian score (to 632) and TransUnion (to 650). I had had an unsecured card offer (pre-selected) from USAA, my insurance provider, open for a while, which was billed as being good for people with credit issues, and I decided to go ahead and apply for it as I had researched the issue and was fairly sure I would be approved. Unfortunately, though, I was turned down and was informed that my bankruptcy was the problem. I was offered a secured card as a "consolation prize" so to speak but didn't take it as I of course already have one. My credit score has dropped a little bit but, fortunately, not significantly (it's now 649 on TransUnion and 646 on Equifax).

I still would like to try to get an unsecured card because I need to keep working on building my credit; among other things, I will have to replace my very old car (2001 model year) soon and also need to replace my old desktop computer. Does anyone have any suggestions on what I can try doing?

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When you have BK or other serious derogatory mark(s) on your report, your credit score takes back seat to them. The chances of being denied are usually greater than other with lower score but clean(er) credit profiles.


You need do a bit of research on which credit card companies are post BK friendly, both CapOne and Barclay are such companies but only "some" of their cards not all, tho I probably would stay away from Barclay for few months, they seem to have issues that maybe related to Britexit. AmEx has a unofficial rule of 5 year post BK, and if you included them in your BK? Then it might take 20 years before they even consider your app. I probably would take USAA's secured card offer, that's another account onto your credit report, especially if it cost you a inquiry already.

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have you tried any store cards?

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That Chapter 7 hurts for ten years from the date of filing and limits the amount of credit you might get.  Please read the articles here and work on improving your score without applying for additional credit for a while'  If your current card holder gives you an increased credit line, be happy, because that [means syou are showing the responsibility they want to see.

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