KreditKing's Rebuild Journey

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2 posts
Green Member
Green Member
Posts: 4
Joined: Mon Jul 27, 2015 6:05 am

KreditKing's Rebuild Journey

Postby KreditKing » Sat Aug 08, 2015 3:41 pm

I've learned a lot in the short time I've been a member here, and continue learning.

Between 2007-2009 my stupid spending finally caught up with me. All my fault, and there was really no life changing excuse for it either. I didn't lose my job, didn't lose a house, and didn't have some medical hardship. Simply spent way beyond my means. Ended up with numerous CO's, but no BK or judgements. How I ended up with no judgements is beyond me. Very lucky I guess, maybe its because I've always lived in real property to go after. I took a dump on all the standard credit cards.......BofA, Lowe's, Home Depot, HSBC, Shell, Citgo, Chase, Cap1, and numerous others. Only positive TL I had when it was all done and said was a car payment with SunTrust. All told, I walked away from over $65k in CC debt.

So with my credit destroyed, I still needed a credit card. In November of 2009 I got a secured Visa card from Applied Bank. $250 No AF, and no other crazy fees associated with most secured cards.

I went from November 2009 to July 2015 with only that one card from Applied Bank. I was simply afraid of applying for other cards. Also during this time I learned to discipline myself and build up liquidity (cash). I finally decided to pull my credit reports (July 2015) to see how bad things still were. I noticed some things have fallen off, while others will start falling off between now and early 2017.

Over the last few years I would get CC offers in the mail from turd lenders like Premier Bank, and others like them. I simply sent the offers to the paper shredder.

The last few months I started getting pre qual offers from Cap1 for their unsecured platinum MasterCard. I was ignoring them, simply because I thought it was too good to be true. A few weeks ago I finally took the plunge and applied. Boom, approved for $2k.

A this point I'm stoked. After reading many posts, I realized a third card was needed to help with my FICO. I got a secured Open Sky Visa $200. Well today I decided to app for a Cap1 Quicksilver One card. Approved for $1k.

At this point I'm just gonna let the cards I have marinate. Don't plan on app for anything else until the first of the year 2016.
PIF Every Month
Capital One Platinum MasterCard Unsecured $2k
Capital One Quicksilver One Platinum MasterCard Unsecured $1k
Applied Bank Visa Secured $250
Open Sky Visa Secured $200

Centurion Member
Centurion Member
Posts: 234
Joined: Wed Feb 18, 2015 9:04 pm
Location: Texas

Re: KreditKing's Rebuild Journey

Postby Kevin86475391 » Sun Aug 09, 2015 1:14 am

Way to go! Sounds like you've had quite a journey and are really bouncing back! :D

I think you're right to hold off on applying for any others and just wait and let the cards you have develop history. Soon the rest of your baddies will drop off and you'll get a completely fresh start!

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