Discharged 2/08 - Just got WAMU CC w/ $2K limit

[Chicago]

I've held out from applying for all the crap credit card offers that have been flooding my mailbox since my filing due to all the stupid fees they tack on. On Wednesday I got an offer from WAMU for a pre-approved card with no fees and 0% APR until next spring. The credit line would range from $500 - $7500. Thought about it and figured I'd get back to it in a few days.

I went to my local WAMU branch last night to make a deposit and the teller said my account was flagged as being pre-approved for a WAMU credit card and asked if I'd like to apply. Sure, why not? Filled out the basic info and turned it in right there on the spot.

The personal banker called me about 30 minutes later and said I needed to call their 800 customer service number for final approval on my card. Called them and they asked some security questions and then said I was approved and would get my card within 10 days. I asked what my credit line ended up being and she said $2000.

Wow, I was expecting I'd get the minimum of $500 which would have been plenty since I haven't used a credit card since March 15, 2007. I told a friend who'd been my confidante during my BK and she was a little nervous about me getting one but I know I'm going to do so much better this time around. I've lived on cash for the last 16 months so I'm much better at handling my money now.

Oh, and I think my FICO scores are up to around 650 now though I still have one account that isn't showing my BK so I'm working with the reporting agencies in getting that fixed. Hopefully getting that corrected and this new line of credit will help boost my score even more.

For all the others looking at jumping on those teaser cards, just hold out a little longer as something much better will come along shortly.

[keepmine]

Sounds like what happened with me. I ignored all the cards with fees and, about 4 months post discharge, HSBC sent me a pre-approved no fee offer. I applied and got a credit limit of $2K. Like you, I learned my lesson. I pay in full every month. Moral here is, be ready to pass up the bad deals and wait 'em out.

[PaKettle]

I am not doing quite so well but still doing okay.
My problem is that because of some balance transfers my attorney wanted me to wait almost 1 year past the last one which was probably overkill but I did it because I was paying for his advice. (Now I wish I hadn't.)

So as a result I had perfect credit but then everything went to 90-150 days late before I filed.

Thus I was left with an EQ Fico of 558 even though my TU "Fako" is around 650.

Anyway I didn't want to go for those ridiculous fees so I waited until I did some credit report cleaning and then went for a $39 annual fee / $750 credit limit Orchard card. At the same time I applied on the web fore a BestBuy card and they gave me $500.

That will do for now. My wife may apply for a WAMU once I see her scores, maybe in a few weeks, since I am just beginning to clean up a couple things on her reports. It would be nice to have a couple grand with WAMU for emergency use although I sure hope we would NOT have to use it!

[fltoo]

I am not doing quite so well but still doing okay.
My problem is that because of some balance transfers my attorney wanted me to wait almost 1 year past the last one which was probably overkill but I did it because I was paying for his advice. (Now I wish I hadn't.)

So as a result I had perfect credit but then everything went to 90-150 days late before I filed.

Thus I was left with an EQ Fico of 558 even though my TU "Fako" is around 650.

Anyway I didn't want to go for those ridiculous fees so I waited until I did some credit report cleaning and then went for a $39 annual fee / $750 credit limit Orchard card. At the same time I applied on the web fore a BestBuy card and they gave me $500.

That will do for now. My wife may apply for a WAMU once I see her scores, maybe in a few weeks, since I am just beginning to clean up a couple things on her reports. It would be nice to have a couple grand with WAMU for emergency use although I sure hope we would NOT have to use it!

Why do you wish you hadn't waited Pa, was there something in the proceeding that made you think the BT didn't matter. I am in a waiting period, also.

[Flamingo]

We, too, ignored all the insane offers that came in (i.e., Aspire) cause when you finish a Chapter 13, the last thing on your mind is obtaning a credit card (at least it was for us). However, we do travel now and then and have for many years since our older children live a good distance away - we usually rented a car at a nice discount rate and drove. You can't do that on a debit card. We received an offer from WAMU 4 months after our discharge for us to apply. We were accepted immediately at $3,500, 11.9% interest (after a lower introductory rate expired). We only use the card for car repairs and/or to rent a car or stay in hotel/motel. We pay it off immediately and do not carry a balance as you have to watch with WAMU that if you carry a balance you will be charged on any purchase you make from that day on unless the balance is paid in full. Read the fine print...they do want to make their money.

WAMU is BK friendly; always read the fine print and learn to control your money/credit and don't let it control you. Orchard Bank is also BK friendly but, again, do your homework before applying for anything and learn to keep the credit monster at bay.