Need A Credit Card

[derf]

Here's my current rundown:

10/12/05 - Chapt. 7 Petition filed with court. (DONE)
11/21/05 - 341 (DONE)
11/22/05 - Trustee's Report of No Distribution!!!
1/21/06 - Last Day for Objections

2/1/06- DISCHARGED & CASE CLOSED!!!!!

3/1/06 - All Credit Reports Show Correct Info.

8/28/06 - $1800.00 Auto Loan through local bank. All payments current and account in good standing.

Since my BK was closed, I have found a new job, which my income is considerably more than it has ever been.

I have money in the bank, in savings, and even a little invested in bonds. I also now always have enough pocket money to get through the week with no trouble. All my bills are current and in good standing.

Here's the deal. I need to improve my Credit Score, so I need to acquire a Credit Card.

At the time of getting my Auto Loan, my FICO was 599. - Bank was kind enough to let me know.

I have since recieved offers from Washington Mutual for a Pre-Approved Visa, No Annual Fee, 12.9% APR, Up to $7500 credit line.

Capital One Visa, Pre - Approved $2000 Credit line, 18.9% APR, No Annual Fee.

And a few others.

I don't know much about Washington Mutual, and have heard a few bad stories about Capital One. So I'm seeking a little advice on these two cards or any others out there with comparable terms, etc.

I'd like to be sure that I can get the card with no trouble, and that it will have a credit line of at least $1500 if not a little more.

I'm looking to apply for this card within the next week or so, but would appreciate any further advice on these cards, or any others which you may recommed.

Thanks for the advice!!

[HHM]

Here's the deal. I need to improve my Credit Score, so I need to acquire a Credit Card.

^ That is a debatable point.

Anyway, Washington Mutual is a mainstream bank, you can't go wrong with them. Basically, any credit card will work if you use it right...the bad stories about Cap One are from people who don't know how to use their credit and keep accepting every credit card offer they receive in the mail.

[SinkingFast]

One real problem with Cap One is they do not report your Credit Limit along with your usage history.

Just as an example here,........... You could have a $2K Credit Limit but if the max you ever charged in a month was $100, that's what other Creditors might assume your limit is. So when you charge $75, it looks like you're using 75% of your available Credit Limit.

It's a real trick that Cap One is using to scare off competitors from offering their customers other credit. Actual customer Credit Limits are a highly guarded secret that Cap One has no intention of revealing to the CRA's.

Cap One's commercials are cute, but having their card in your wallet may prevent you from getting better offers from other Creditors.

[FilingOnMyOwn]

Your strategy is to get whatever you can (fee free of course) than weed out any bad ones. I would first go for the cap one, the washington mutual, then perhaps the hooters card. If you get 2 out of three you'll be in good shape to start rebuilding.