Recommended Credit Cards [Archive]

robivi3

11-01-2004, 07:16 PM

I have an Aspire Visa unsecured. The fee is high ($150.00 per year, $6.95 per month maintenance), the limit is low, only $300.00. These people were very upfront about fees and charges. They report to Experian as an unsecured card. Read this carefully, I have checked my Experian, TransUnion and Equifax Report and can say that they report as a regular Credit Card to Experian monthly.

I read alot about Aspire in "Ripoff-Reports" online. I read about a ton of others also. Right on up to my Old favorite Chase Platinum Visa. However i have had no trouble with Aspire whatsoever.

I signed an Agreement with my Credit Union to maintain my Visa with them in good standing and have taken a signature loan ($1000.00) with them also.

Rebuilding is slow and dealing with CRA mopup is a hassle. Generally you cannot get a BK removed the agencies scan the Public Records. Most companies respond to an investigation. The upside is that you can get the iformation to read correctly. That is a huge help.

robivi3

02-11-2005, 09:37 AM

Just a note:

I still have this Aspire Visa card and they are reporting to all three CRA's. Their pay online service is expensive, $15.00 per payment, so I snail mail. Payments are reported promptly, information is obtainable by phone and internet. so far this has been a good card. I am looking forward to a Credit Line Increase this month or next.

HRx

02-11-2005, 12:34 PM

Thanks for the info!

joe715

02-12-2005, 06:34 AM

robivi3

02-12-2005, 08:16 AM

joe715

02-12-2005, 01:07 PM

Don't go to Aspire just based on what i have stated. I researched the Cards through Ripoffreports.com. Aspire does have numerous complaints. As far as the State of Florida goes they seem to be few. Research any card thoroughly before you accept it.

Type in some keywords that will bring up different reports for the cards you are looking for.

Oh. Didnt know that. I guess thats why i'm here asking questions. Just started researching different credit cards and got an offer in the mail from Orchard. Gonna do some digging right now. Thanks for the link and info.

midori76

03-07-2005, 12:11 PM

Hi,
I have both the Apire and the Orchard Bank Card. I defintely prefer the Aspire Card. They are reporting to the CRA's every month. They also have been very good about increasing my limit. I have had the Orchard Bank card for over a year and they have yet to increase my limit and I have been on time every month. Orchard is also snail slow in reporting to the CRA's. I have credit watch so I check it every day to make sure my payments are being reported. I have had the Aspire card for about 8 month and they have increased my credit limit twice. The only thing I don't like about Aspire card is when I intially obtained it I had problems with activating it. Once received they make you pay a fee before you can use it which is drawn from your checking account. This was not disclosed in the intial paperwork they sent me. After the fee was deducted from bank I had to call and make sure that my card was now activated. The call center is in India, so the reps are hard to understand. I was told on 3 seperate occasions that the card was okay to use. When I went to use it each time the card was declined. Received several different explanations on why the card would not activated, but after about a week the whole thing was straightened out.

joe715

03-09-2005, 04:39 PM

Thanks for the info midori76. I still havent picked a card yet and am still trying to decide.

daneyb

03-17-2005, 11:20 AM

HRx

03-17-2005, 12:37 PM

My husband was declined for the Aspire Visa on their 30-sec application. Will this show as a credit inquiry? I'm very despressed now, how are we going to rebuild our credit if we cannot get a credit card?

Several factors exist as to why your husband was denied. He may not have met Aspire's credit approval criterias. Also, how long as it been since the BK? Does all three CRA's accurately represent your credit report? yes, this denial will have some affect on your husband's credit report. Just save, save, and save!!! ;) Before you know it, secured credit card vendors will be sending you "pre-approved" applications! :)

Good Luck!

-Todd

BrokeCh7

03-17-2005, 05:47 PM

Just a quick one on secured cards is it possible to be denied one? I don't unterstand they have your money and you get nothing in return except the cc to use up to your limit of finds in their bank.

daneyb

03-18-2005, 04:24 AM

Several factors exist as to why your husband was denied. He may not have met Aspire's credit approval criterias. Also, how long as it been since the BK? Does all three CRA's accurately represent your credit report? yes, this denial will have some affect on your husband's credit report. Just save, save, and save!!! ;) Before you know it, secured credit card vendors will be sending you "pre-approved" applications! :)

Good Luck!

-Todd

It has been 8 months after BK. We have just had most of our credit reports updated with accurate information. We have $13K saved up in an ING Direct Orange Savings Acct, but we are looking to buy a house in December and we are trying to get our credit reestablished. I have been disputed things on my credit report and I plan on pulling all 3 next month (again) to see if all the errors have been fixed.

We are looking for a secured credit card to start rebuilding our credit. I know US Bank will not approve you if you've had a bankruptcy (I called them), does anyone know of a secured credit card that you won't be denied for? Like Orchard Bank?

Please, any information would be so greatly appreciated.

vic6string

04-04-2005, 02:48 PM

As soon as you get your discharge (if not sooner) you will get credit card offers for cards (secured and unsecured) with huge fees like the one that started this thread ( I believe it was $150/year plus a monthly charge). If you can wait for a card, you should. I got all of these offers, and thought they were insane (before BK I had all platinums reward type cards, never paid fees of any kinf other than finance and late fees) I waited, and eventually the same banks offered better cards (higher possible limits, lower fees) ..kept waiting..offers got better. Eventually, Capitol One sent me a pre-approved platinum (only $2000 limit, no rewards, but no annual fee and no maintenance fees). Once I got that one, I used it, and paid in full every month. I waited some more and now all the card offers are for platinum. My wife did the same and got the same results. My theory: they will offer you the worst they have, and if they see you settle for it, they will keep sending you that type of stuff. Be patient, be picky. Life after bankruptcy shouldn't be worse than life before it.

tinroofrusted

04-05-2005, 09:54 AM

I applied for a secured credit card through First Premiere, and got approved. They allow you to make $25.00 payments until you have a balance of $200.00, and then they send you the card.

I did my research first.

BTW- I also have completely cleaned up my credit reports- all three! They are all now reporting ALL of my accounts as included in bankruptcy, and I am now on my way to rebuilding credit.

If anyone wants more information on cleaning up credit reports, IM me or email me!

bk2003

04-30-2005, 12:43 PM

I refuse to pay monthly 'maintenance' fees. It's just another way for the cc companies to make an extra buck. I'll stick to paying cash for everything until I can get a card w/no fees.

Robert7

05-01-2005, 02:35 PM

There's no reason why you should be paying excessive fees for a secured credit card. An annual fee under $100 is probaly ok. However, amounts beyond that or these ridiculous monthly maintenance fees is just another way for the ccc's to capitalize on your misfortune. Also an APR over 22% should be avoided. If you do your homework, you can find good offers for secured cards even for the recently bankrupt. Your best chance is with your local credit union. Credit Unions are much more friendly than banks and typical ccc's. My local CU has a secured card with a 14% APR, No annual fee, and no monthly maintenance fee. They require you to make an equal deposit for the credit limit I want. They also pay .75% savings on the security deposit. Also bankruptcy is not a problem. So, check with your local CU. They all vary, but generally have much better offers than the banks. If you've declared bankruptcy, don't even bother with the Well's Fargo's and Bank of America's. Hope this advice helps.

HRx

05-11-2005, 07:37 PM

Click on the link below for information about various credit cards designed for individuals with bad, slow or no-credit. Please exercise caution, and common sense when applying for sub-prime credit cards! Also read, and re-read all the fine print. Also ensure that the credit card you ultimately decide to apply for is "managed" "issued" from an actual bank. e.g. Cross Country, Orchard Bank, et cetera.

Good Luck!

Click Here (http://www.credit.com/products/credit_cards/sub-prime.jsp)

crackerbear

05-13-2005, 09:23 AM

We have an Orchard Card that we got about 6 months after discharge on a Ch. 7. We have a $59 annual fee but no monthly maint. fee. We have been happy with them. We have gotten 3 credit limit increases in less than 2 years. We now also have a Providian Card with no annual fee and lower interest rate. We even had 6 months no interest on this card. We got this one about one year after discharge. We have bought 1 new and 1 used vehicle, financed through our Credit Union, since discharge. And now finally 2 years after discharge we are buying a house with no interest rate penalty. We close the end of June and that we be a great report to the credit bureaus. There is life after bankruptcy. :)

tinroofrusted

05-13-2005, 09:33 AM

I recently got my Visa Rewards 660 card in the mail. So far, I am VERY happy with the customer service, as they have answered all of my stupid questions and any other troubles that I have had. I can pay online, view my account online, etc. I also get $100.00 credit increases after 3 months of on time payments, every 3 months... not a bad deal!

invest1choice

07-06-2005, 05:45 AM

Hey what is the interest rate you get after you file 7 just wondering what I would be looking at and what the fees are for having it?? thanks

Minnymouth

07-06-2005, 09:20 AM

Best read the fine print on your Premier cards they offer you!!!!
Premier charges:
1. a monthly maintenance fee
2. a initial set-up fee
3. a 1st year activation fee
4. a $25.00 fee for each increase in credit line
5. a 9.9% interest rate which can increase to 27.9% if
they deem valid regarding your credit worthiness.

You can end up owing them $3-400 before you even get a card. And this has to be paid in order to use their card.
Talk about a "money-making deal" for them.

Why don't they just say "send us $500.00 and we'll LET YOU BORROW AGAINST IT". LOL

Its hard to re-establish credit but I'm sure there's an easier way than this..

Me - I'll wait..........and deal with cash for a while.

Minny

king_rks

07-06-2005, 12:29 PM

I've had a Orchard Bank card for almost 4 months. No problems so far. Interest rate is 14.9 and limit is $300. I will ask for an increase next month. I only paid a one time $59 yearly fee. Online paying is good, and they only are behind one month reporting to my credit report.

HRx

07-08-2005, 10:30 AM

king_rks

07-08-2005, 04:34 PM

I definetly reccomend what most people post on this site about waiting out the credit card offers until one looks promising. My wife and I Discharged in Jan. 05 and within a month I decided the Orchard card offer was the best I received through the mail. It's funny, I was getting two or so a month offers from all kinds of "Loser Banks" with crappy deals while still waiting for discharge. Anyways I was approved for $300 dollars a couple weeks after sendig in the application.

I decided a couple months later to see if my wife would also qualify. We sent in her app. and she was given $750. I couldn't beleive she received a higher limit than me! I'm not complaining though. Anyways I just paid off the rest of my balance and I will wait till it posts before I ask for a limit increase.

Aspire is a joke with all the upfront fees they charge and reaccuring charges. Don't waste your time when you get these and others in the mail. If you can't be patient now, who's to say you won't struggle again with debt and put yourself in the situation we've all been in before? Wait it out and be patient, your credit will come.

Thanks for all the great posts from everyone. :D

Badbea

08-12-2005, 06:05 AM

My husband and I filed Chapter 7 in December, 2003 and were discharged March, 2004. We each had a Capital One account included in our Chapter 7. Recently, each of us have been receiving numerous offers from Cap I for a pre-approved, 0% until February, 2006 and 14.9% thereafter, Platinum card with a $19 annual fee.

We are now interested in rebuilding our credit and are wondering if we respond to one of these offers, is there a chance that Capital One can come after us for the balances owed on our two accounts which were IIB. If there is a chance of that occurring, we obviously will not reply.

Any input would be most appreciated. Thanks very much.

tinroofrusted

08-14-2005, 03:37 PM

Minnymouth

08-15-2005, 11:20 AM

Be sure you read the "fine print" REAL GOOD..... some of the cc companies offer you a cc again - but in the fine print you agree to have the previous balance added to your card in order to get it....CAREFULL....
If you agree, they "gotta cha"......(they don't ask if they can, you agree that they can and give your permission)....
Sneaky, huh!!!!

Minny

Minny

shygal

08-16-2005, 11:19 AM

I just wanted to share some info with all of you....I found that National city bank offers a secured cc with only a $3.00 per month fee! There is no application fee ! It seems great and they report it to all 3 credit agencies as unsecured so you can boost your score !!!

Minnymouth

08-16-2005, 11:33 AM

Hope They Aren't Handling Your Mortgage...............duh!!!!

Minny

shygal

08-16-2005, 11:43 AM

Handling my mortgage ?????? NO, THEY ARE NOT....We have a mortgage with someone else, I just found this searching on the net.... thought it would be helpful to someone

herekitty

08-16-2005, 12:20 PM

National City Bank has over 57 complaints this year according to the BBB, so I'm not sure I'd risk that ... if someone has one, let us know! The offer seems too good to be true!

HRx

08-16-2005, 04:04 PM

I never heard of them before...............what sort of complaints have been filed against them?

Minnymouth

08-17-2005, 05:07 AM

This corporation is out of Ohio......
They have banks, mortgage companys, and their own cc...., etc.
They are a very large banking firm in the Ohio, Ind, Kentucky area.
Do they have "complaints" against them? - OH.......I'm sure they do!!!!!!
If you do any business with them - BETTER CHECK YOUR PAPERWORK!!!!

TAKE IT FROM SOMEBODY "WHO KNOWS"............:blink: :blink:

Minny

tinroofrusted

08-17-2005, 02:57 PM

brokemama

08-18-2005, 09:55 PM

hey guys, DO NOT trust National City, I've have had them as a banking service since 1999 since we bought our house. they do all kinds of unhanded things to make any extra cent or too. My husband and I have direct deposit and unfortuantely, due to our employers, we have to have direct deposit and this is the only local bank for us, allowed by our employers, any way on several occasions they have taken it upon themselves to charge me overdraft charges d/t Insufficient funds. However, what the do is take out the money for written checks before the add in the credits. This has gone on multiple times and every time I go back to the branch and notify them but they all give me the same excuse "we always deduct before we add". I never get them to add the money back into our account. so STAY AWAY, BE AFRAID, VERY AFRAID of them.

tinroofrusted

08-19-2005, 03:07 AM

babycakes

08-19-2005, 03:29 AM

My credit union did just that last week! They withdrew the cks first before they put in the deposit and charged me an insufficient funds charge. I called and they said they always put the cks thru before the deposits and that they put the checks that didn't clear back thru again the next morning at 10am. So to me this is some way to rack up extra revenue by charging all these insuff fund chrgs, and no they wouldn't refund the fee. I don't think this is right!! I worked at a bank years ago and the deps always went in first.

edwards2

08-19-2005, 05:16 AM

babycakes - Our bank lets everything go through and then zaps us for the charges for check protection. I asked them why they did that and they said we were a long time customer and they didnt want us to be embarrassed by declining a charge. Give me a break...they want the exorbitant fees/penalties. Admittedly, it would be embarrassing but I am learning fast in my soon to be post-BK situation, to be more frugal and stick to a budget. On the credit card issue - we were embroiled in the same kind of problems with Citibank and Providian. We have a Providian account for nearly 10 years, NEVER late and they slapped on all kinds of penalties on our account and were relentless in calling us.
I know we incurred the debt but they had absolutely NO interest in working with us at all. Seems to be the MO for the credit card industry.

Minnymouth

08-19-2005, 06:25 AM

Most of you "know" my situation..........well, I can thank Nat City for it!!!! DUH.......................................talk about "clerical errors"!!!!
They sure don't keep "their records" as good as they "try to keep ours"!!!
Had been banking with them for over 25 years, purchased 2 homes, etc.............
then when I claimed BK - I got "screwed" by them.......

Better check any "paperwork" they do for you!!!! WORD OF CAUTION!!!

Minny

tinroofrusted

08-19-2005, 04:49 PM

My credit union offers up to $500.00 of "courtesy pay." You go over, or forget to write a check in the balance register, they will cover it for you, up to $500.00. Thank GOD I have never had this happen to me, but it's nice to know it's there!

babycakes

08-19-2005, 06:38 PM

I had the $500 overdraft protection on my checking account for years, but this credit union closed it out last year after my EX-husband filed Ch13. We weren't even on the same acct anymore. We've been divorced over 2 years. He had opened up a whole new acct for himself and was taken off mine, but they said that since he had been on mine at one point in time they didn't take chances, so they closed it. I was soooo ticked, but I guess now it doesn't matter because they would have closed it anyway now that I've filed.

tinroofrusted

09-09-2005, 02:50 AM

I got my first credit limit increase today! :D (Rewards 660 Visa) I have absolutely NO complaints about this card at all. Every time I call the customer service has been amazing, and they keep up with their end of the bargain!

I have paid my bills ALL on time for the past six months, and my credit scores are going up, I am sure.

I do need to get a couple of things removed. (Two accounts are showing as charge offs, which is a no-no) and the dates on them are wrong.

Keep it up folks.

chicago57

09-17-2005, 11:55 PM

Handling my mortgage ?????? NO, THEY ARE NOT....We have a mortgage with someone else, I just found this searching on the net.... thought it would be helpful to someone

Hi Shygal,
I actually just attended a seminar re: Rebuilding your Credit After Bankrutcy in Chicago. The guest speaker was very informative and spoke re: getting your FICO scores up. He has been certified and trained with The Fair Isaac Corporation (FICO). He stressed the importance of building your FICO up and he mention 2 of the BEST Secured Cards to go for...
1) National City Bank (will not rip you off and reports to all 3 credit agencies) you can also deposit a minimum of $250. Annaul fee of $36 payable in $3 installments each month. Not too bad... considering some of these other companies charging so many additional fees. Another he mentioned as even better if you read the fine print was:

2) First Bankcard, First National Bank of Omaha, p.o. Box 2978, Omaha, NE 68172-9895(Family Merchants Bank (on card)
After reading the brochure, this card charges an annual $20 fee - no additional charges, they report to all 3 agencies (THE MAIN THING TO LOOK FOR OR DON'T EVEN BOTHER APPLYING) and they deposit your money in a certificate of deposit. (The only disadvantage is.. the minimum deposit is $500 and sometimes it's a little easier to come up with $250.)

SO YOU POSTED EXCELLENT ADVICE FOR ALL TO KNOW. THANKS FOR CONFIRMING THE INFO I RECEIVED FROM THE SEMINAR. I WAS SENDING IN AN APPLICATION THIS WEEK). :D

pink_amulet

10-02-2005, 08:42 PM

tinroofrusted

10-03-2005, 02:53 AM

First Premier Bank screwed me big time. They REPORTED late, they charged outragous fees. You had to pay $250 up front, then $59 EACH year, $25 for EACH credit increase, and a monthly fee it was a joke!!!!!. They started at 9% intrest, I was always on time, and for NO reason at all they raised it to 24%. I called then and asked what the heck, and they beat round the bush.....something to the effect that after a certin time period they raise it, I said no, IF I mess up they raise it. Their response was well people usualy mess up by now, so it's time to raise it, I had had the card for 3yrs!!! I was floored, so because I didn't mess up they raised it anyways!!! I was stupid and it was my first card when I was younger. Now years later I filed on them cause they inflated everything. BEWARE!!! They are JERKS!!!! they harass with phone calls too!!! They even called my nieghbor, who happen to live in the same complex as me, her phone number was listed , mine wasn't...HOW RUDE were they to call her!!!:aggress:

Thanks for the warning. I have a First Premier card right now, and after I pay it off next month, I am closing the thing. Something about their services I don't like, and I get a bad vide from. HOWEVER, you should have been well notified of all the fees and things before you got the card. They don't hide this stuff anymore, and it's right out there for people to see. I was well aware of them when I got the card.

I just got approved from Orchard Bank, and think I will keep them, and my Rewards 660. =)

pink_amulet

10-04-2005, 07:17 PM

This was a quite a few years ago, and I did read the fact that they can change the % at their discretion, however it said if for late or missed payments. I had NEVER missed or was late!!! So I was floored when it jumped from 9.9% to 24% for no reason at all, it didn’t say it was an introductionary rate either.
I understand about the fess, I agreed to them, I was just stating how much of a hassle First Premier is!!! Even if they offered us a credit card, or the only unsecured offer we get I would NEVER go back to them. :dry:

tinroofrusted

10-05-2005, 03:13 AM

lexscully

10-05-2005, 10:18 AM

My B/R was discharged in June 2005. I received one cc app that had "fees" associated with it which I threw in the trash (First Premiere I think). Just received my Providian cc with $2000 credit limit and no fees. Interest rate is high, above 20% but I don't really care about that since I am paying the balance in full every month.

If you want FICO details my pre-B/R FICO was around 670, after lowest was 584 and currently is 600-609.

Hope this helps.

HRx

10-05-2005, 10:23 AM

Providian offers a pretty good credit card too. But you'd be better off waiting for them to send you a pre-approved invitation offer.

IBKevin

10-11-2005, 07:27 PM

Since this thread helped me, I'll add my $.02:

My Chapter 7 was discharged in July. I pulled my credit in September. Sure enough, all 3 agencies were reporting things wrong - over 1/2 of my creditors were still listed as charged off accounts with large balances!

Even with all this derogatory misinformation, I still had a FICO of 570 (I had excellent credit all my life until the BK).

Based on recommendations here, I decided to apply for the Orchard Bank card anyways. I figured I might as well try now, rather than wait the 60 or so days it will take for me to wrestle with the credit agencies.

To my surprise, I was approved for an unsecured card (14.9% APR) for only a $59 annual fee. Nothing else comes close to this deal - all the other solicitations carried much higher fees and APR's.

I'd recommend Orchard to anyone looking to begininng rebuilding credit soon after filing!

tinroofrusted

10-12-2005, 03:01 AM

HRx

10-22-2005, 07:51 AM

Providian and Capital One offer great post BK cards too. But keep in mind that not all thier pre-approved card offers are identical to each other. Both creditors offer great moderate interest rate, and $0 annual fee cards.

StaciMM

11-23-2005, 03:50 PM

Some things I've learned in my research...

Since your credit score is impacted by how old your accounts are, when you are ready to reestablish you'll want a card you can have open for a long time. If your oldest card has hefty annual and/or monthly fees, you'll later have a hard choice to make. (Keep paying or close it and hurt your credit score by giving up your oldest account.)

Something else on that note-if you are going to open a secured card, will it always be secured or at some point w/ good payment history can it be converted to a regular account and you get your deposit back?

National City does not allow your secured card to convert to an unsecured card. They will close out the secured and open a new, unsecured account. So you lose an old account and gain a new one.

Orchard does consider your account for conversion-with the same account # and history-though they won't even entertain the thought until 18 months of history have passed. The minimum deposit for Orchard, by the way, is only $200 but I think its $300 for Household. (HSBC backs both, so I don't know why it differs...)

Some of the 'prime' creditors that issue secured cards (Wells Fargo, Bank of America for example) may not issue a card to someone w/ a BK. If your BK is very fresh, odds are not in your favor. For BofA, I've read that they will not consider you unless your BK is at least 5 years old, and even then its perhaps only a 50/50 chance. Can't really tell you why, but its good to know that applying w/ a prime bank for a secured card is not an automatic approval.

One thing I like about HH/Orchard is they have a pre-screen link of sorts. You can put in your info and they'll let you know which card you are most likely to be approved for without pulling a hard inquiry. Their unsecured cards have annual fees ranging from $19-79, depending on credit, and some may have a processing fee as well. The secured card is a $35 annual fee, I believe. The pre-screen tells you the features of the card(s) you're most likely to be approved for and you can choose whether or not you want to apply. From what I've seen/heard, they offer better terms if you have some open/positive accounts reporting.

J Armstr

12-04-2005, 12:45 PM

A great book that ditto's a lot information that StaciMM states is Stephen Snyder's "Credit after Bankruptcy." I have been following what he says since our discharge in October 2005 and our credit scores have jumped over a 100 points to the 650's.

lostsoul23

12-25-2005, 01:56 AM

Hello. I was wondering if anyone had any experience with the Orchard Bank credit card. I just got an offer in the mail for one of these cards. $59 annual fee and looks like $3.50 monthly maint fee. I'm sure the limit is low like $300.00 but I guess I wont know until I am actually approved. It actually says "Pre-selected" and not "Pre-approved". Anyone know if these guys report every month? I'm looking to rebuild my credit and the fees here seem to be much cheaper than Aspire. I will go with Aspire if I must because of the great review by Robivi3. Your info is appreciated Robivi3. Thank you. -Joe

I have exp'd the joys that is Orchard. I won't do it again. To be honest, I'm at the point now where if I don't have cash, I don't get it, and I won't even keep a bank account. But I'm old & bitter. I had problems with alot of changing-rates-and-such when we feel the need with Orchard.

bkfiler

12-25-2005, 07:26 AM

i got a non-secured orchard card pre-approved letter:
- $39 annual fee
- no maintanence fee
- no monthly fee
- a 'competitive customary variable' APR of 14.9%
- 25 grace period

im not even done with my discharge, far from it. they approved me as well. it was the only offer i have gotten so far, except for local 'car dealers' lol - trash!

note that there is a $3.50 maintanence fee on CLOSED accounts with a balance. some people may have mistaken that for a regualr monthly fee.

im so happy with this cuz its a great card characteristics and with the 25 grace period i dont even have to care what the apr is. i dont need credit cards anymore. i will just use them to play the game and get a higher credit score.

bkfiler raises fist and decrys: *power to the people, power to us bk filers*

sipps

12-27-2005, 07:53 AM

I filed for BK 7 on 10/10/2005, had the 341 and waiting. Got an offer from Household Bank (HSB). Called to ask Q's. $500 limit, $59 yearly fee, no monthly maint. fee (seen a few cards that charge a monthly fee), 14.95% rate. They report to all 3 agencys. The app took a few minutes, however they tried to sell me "credit protection" and offered to refinance my auto. All in all it was very surprising. I had just filed on $100,000 credit cards, 4 houses (rentals) and my own home, and two cars for a total of $964,000! I stopped paying on everything in May. My FICO was 430, and I got the card! Now, I'll keep you posted when I get the card if anything "changed" from the time I accepted 'til it comes.

cb2boys

12-28-2005, 08:02 AM

Why are we receiving credit card apps already???? We just had our 341 on 12/16, and last week both DH and I rec'd an individual CC app, with some letter stating "bankruptcy doesn't have to be the end of your financial situation" or something like that...so they knew we'd filed BK...I don't intend to apply for them yet...I'm going to be choosy! But, I thought I couldn't apply for ANYTHING until after discharge?

StaciMM

12-28-2005, 09:04 AM

You can end up on mailing lists pretty quickly. The first round will be VERY high in fees (most likely) and in time, they'll get better.

highhopes

01-05-2006, 09:51 AM

F.Y.I. HSBC cards(Orchard, etc..) They report every month, but it takes them a few months to report the current information. Mostly your reports will show a 3 month delay.

Also wanted to add that each person has to make a better financial effort after filing BK, now you dont have to, but you will only have yourself to blame if you find yourself in a financial jam. I said that to say this, these banks target and prowl and stalk post bk people for a reason. They intend on you screwing up and know that you will be left with one option, to pay them and their gut busting fee's. We are a jackpot waiting to happen in their eyes.

To each his/her own if you are not paying your balance in full or at least half of it well, you will always be a victim of the predetor bank that never gets your payment on time and any other odd thing that they can victimize you on. There is nothing wrong with making 2 payments in 1 month also to avoid the " your payment is not on time " drama.

There are a lot of "Cash only" people on here and if thats how you feel thats fine. But I hope that you have at least a Prepaid credit card because without any type credit card (even bank debit card) you will be treated worse than an a illegal alien.

If you plan on buying a house I hope you have at least 2yrs credit history.

StaciMM

01-05-2006, 10:06 AM

Highhopes-
Orchard reports at the end of the month, after the card has been open for a full month. So if you open the account in the middle of December, it will report at the end of January. Depending on the bureau, it will take between a few days or a few weeks to show on all your reports. (My experience is that TU is the slowest.)

For a mortgage, 2 years is required for FHA. It can be done in less w/ sub prime lenders-if you are agressive at cleaning up your reports, and getting your score up. I am already working with someone, and expect to do financing in August. My goal is to be above 640 mid score at that time, though a 620 will suffice. (Obviously, better scores result in lower rates.) If rates were to stay the same, I'd be looking at a rate around 6.5%.

A credit score is a useful thing, but my efforts to rebuild credit are in no way an effort to rebuild debt.

bkfiler

01-05-2006, 12:36 PM

staci, what do you know about FHA for 2 years stuff. i was aking you about that earlier. do you know know something new?

i heard that if you have no lates and can show payments for 2 years after bk then you can get a prime home loan regardless of scores. is this true? is it through FHA? is it guaranteed?

i havnt seen anything published on this yet.

StaciMM

01-05-2006, 12:39 PM

For FHA, I understand there has to be nothing derogatory within 2 years of applying, and that credit score isn't necessarily an issue. The requirements (home inspections, etc.) may be more complicated.

For FHA, you may be able to get payment history on utilities, etc. to help w/ tradeline requirements.

I don't plan to wait that long. We're in our house now, leasing it, and I'd rather get the mortgage in my name sooner if possible. And, everything that I've found says sooner is not an unrealistic expectation. Besides, there is no guarantee that rates won't be higher on average in a year or 2...

bkfiler

01-05-2006, 12:44 PM

prices might be going down now too. or are you paying rent to own already on a set price. something to consider.

StaciMM

01-05-2006, 01:02 PM

We're all set-as long as the person we're buying from doesn't get tired of waiting!

We agreed more than 3 years ago on a price, and when the appraisal was done, turned out our price was below by a decent amount.

jeffstrikesback

01-17-2006, 07:54 PM

OK,

My discharge date will be in two weeks (the 28th). I have received a notice for a pre-screened offer from HSBC (says FINAL NOTICE - CREDIT PROBLEMS IN THE PAST ARE JUST THAT - THE PAST).

They are offering me a $300 limit with no fees except $69.00 annual fee. Should I wait until discharge or is this an acceptable offer. BTW - I had a $2000 balance with Best Buy who I believe is with HSBC - Household Bank.

Also, is there a way to know if there would be a reaffirm contingency on any of these offers I have or will be receiving? Thanks in advance for a reply.

Jeff.

bkfiler

01-18-2006, 03:10 AM

my first offer was from orchard for a pre-approved at $39 annual fee and no monthly fees.

you can keep that one and always use it later if you had to imo. i bet they would take you any time. from what i hear 2 months after discharge is when the offers start coming in more and more. probably gives them time to get the discharge reported and get the card offers printed and in the mail.

robivi3

01-18-2006, 07:10 AM

Still stringing along with Aspire Visa. Limit is now $2000.00. Yearly fee $50.00 plus that 6.95 per month. But it has helped my credit reports as they report to all three. They have dropped the fee for online payments to zero. No problems whatsoever so far. My regular Visa still has the same 2500.00 limit as aleways. Interest still 12%.

highhopes

01-22-2006, 08:43 AM

Well, I don't think Orchard will be offering me a dime, I included them in my BK, along with union plus card. But to my suprise Chevron sent me a letter saying after my bk has cleared that its possible to get an account with them again.

StaciMM

01-23-2006, 04:27 AM

I BK'd on Household-who is the parent company to Orchard. They gave me a card...

Well, I don't think Orchard will be offering me a dime, I included them in my BK, along with union plus card. But to my suprise Chevron sent me a letter saying after my bk has cleared that its possible to get an account with them again.

jeffstrikesback

02-02-2006, 03:10 AM

OK,

I got approved with Household bank, actually got $500 limit, more than the $300 they had on offer with a $39 annual fee (39/12 months = $3.25/month) - still not bad!

My next account I was interested in is a Sears Card. Has anyone had any luck???? They are part of Citibank and I had a Sears MC and Citibank Visa included in bankruptcy.

I have read that certain banks are more bankruptcy friendly - anyone heard of that also? Thanks!

highhopes

02-08-2006, 05:47 PM

Citibank is notoriuos for blacklisting folks, some people have been known to slip between the cracks.

StaciMM

02-08-2006, 06:00 PM

Citi is known for being anti-BK, and the fact that you BK'ed on Citi puts another strike against you. For a store card, I'd suggest Target.

nk29

02-18-2006, 08:19 AM

I filed Ch 13 on August 30, 2005, and was just approved for my first CC, an HSBC Mastercard! It's only a $300 limit, before I was used to nothing less than $5,000, but hey you have to start somewhere, right? Plus I have to get it in my mind that I don't want those high limits anymore, that's what got me here in the first place and I am so scared of CC's that I really don't even want them. I only applied because I know it will help my credit.

I've also been really successful in cleaning up my credit report, just by disputing incorrect information I raised my Experian score 47 points in a couple of weeks! Now if I could just get Trans Union to get their act together, I've disputed with them 2 times on one of my accounts that they are showing with late payments, I was never late and the creditor has emailed me that the credit bureaus have been notified. But when TU sends me the results of my dispute, they say the info was verified as correct, which makes no sense because Experian has it perfectly right. I know the creditor is not providing different info to the 3 bureaus, Trans Union is just messed up! Hopefully it gets cleared up in the next couple of months since they say corrections can take 30-60 days or so. It just sucks because I got a pre-selected offer from Providian for their card, and I am waiting to hear a response, but I bet I don't get it because they pulled my report from Trans Union.

baybreeze

02-23-2006, 03:44 PM

Hi,

Has anyone received any pre-approved, unsecured credit card offers from Capitol One? I seem to be getting one every other day.

My discharge was in Aug '03 but i have not tried to apply for any credit cards yet. I figured I would just give it some time before I tried.

Ive gotten plenty of these solicitions from other companys that have these outrageous fees, interest rates, application fees, yearly fees, etc....but I wont even bother with them

This Capitol One offer is unsecured with a line from $500 to $5000, with a 16.9% variable rate.

My question is...has anyone rec'd an offer like this, applied for it..and then got denied anyway?

I recently got my Fico score & reports from all 3 agencies and saw the tons of inquiries from various card companies checking my credit reports. Capitol One's inquiries were very numerous. So they must have some idea of my creditworthiness already....

StaciMM

02-23-2006, 05:05 PM

Baybreeze-the cap1 inquiries were probably in the 'soft pull' section, which is not a full credit report. My Dh got a $500 Cap1 the same month as discharge, $19 annual fee, and he applied on their website. (We are intent on reestablishing so we can buy a house later this year.) While you don't want to put in alot of applications, it would be good to try to open a couple of accounts. That will help your credit score, and as they build history, you'll be able to show that you can handle credit.

edwards2

02-23-2006, 05:17 PM

I got a Capital One card 2 months after our case was discharged. $1000 limit at about the same interest rate. I think I passed muster because I had their card years ago and paid if like clockwork. Definitely try and rebuild your credit but dont make the mistake I did by applying for too many things because it has already cost us in our score. A lender told me today that they look at the pulls from mortgage companies because they know you are mortgage shopping or looking to refinance so they cut consumers a little slack on those but too many inquiries can bring your score down by 10%. Yet another lesson learned for me.

baybreeze

02-24-2006, 01:41 PM

Thank you Staci & Edward! I think i will just go for it and sent in the form.
I only want one credit card anyway & would only use it to rebuild some credit, not for shopping sprees. Plus i'm going to need to buy a new car sometime this year - and am hoping to try to get my loan through my regular bank. At least they can see how much I am able to save up; and since every bill I pay gets auto-deducted from my checking account, they can see all that too.

StaciMM

02-24-2006, 02:14 PM

Let us know how it goes!

One thing about Cap1 to be aware of: they don't report the credit limit, so the 'high balance' is used to determine utilization %. A high utilization % hurts the credit score. What this means is that if you have a $75 balance but never had more than $100 on it, it looks like you're nearly maxed out.

What to do to fix that: When you get your card, DO max it out. Not by shopping sprees, but by putting things on it that you normally pay from your checking account. Cable/phone/utilities, even groceries, auto insurance, etc. Whatever you can put on the card to get the balance up. Once the first statement comes, pay it off (since the $$ for those things should still be in your checking account). We did this for Dh's $500 limit Cap 1, so it now shows $494 as the 'high credit'.

edwards2

02-26-2006, 06:58 AM

Staci - I did just that with Capital One. Any by the way remember the poster who said he got both Household Bank and Orchard Bank credit cards when their website specifically says you cannot have more than one card with them; well I contacted them and they said...they will issue more than one card but it is strictly based on your credit report..so the poster must have had a high score.

baybreeze

02-26-2006, 08:10 AM

Hi again,

Well, after extensive research in this forum & other bankruptcy and credit forums, I decided to apply for an Orchard Bank credit card. I had noticed too many issues with Cap 1. from too many people.

Good thing is Orchard lets you fill in some info first, then lists their different cards that you would most likely be approved for. I was suprised to see that I would probably be approved for the Platinum unsecured card as well. So I applied for the unsecured..and was approved!!!!! I have no clue yet what my credit limit will be (though it doesnt much matter as I could care less to really use credit cards anymore - except sometimes one needs one when renting a car, or booking a hotel, etcc..Plus i only plan to use it to build my credit more)

I found a tip as well - while browsing some other Credit Forums, I found lists from people regarding which cards are BK friendly. Many of them even noted how long after BK they got them and from which CRA they pulled their credit reports from. I notice time after time people reported that Orchard only pulled Experian. That helped me because my FICO score from Experian is much higher than TU or EQ. (Experian=689) The other 2 are 628 and 632.

FilingOnMyOwn

02-26-2006, 05:14 PM

Platinum means nothing on an orchard bank card, except that you will probably have a starting credit limit of $300. :)

nk29

03-01-2006, 02:10 PM

I just wanted to share this since there was just some discussion about multiple cards with HSBC. I received the Household Platinum Mastercard (which is misleading because it's only for like $300!), and shortly after got an offer in the mail for their Visa card (same 14.9% APR and $59 annual fee). I called to ask if I could apply for both, and they said yes because they aren't identical cards. So I applied and got approved this time for $500. I am really happy just because now at least I have one of each, a Visa and MC, and can be on my way to rebuilding credit. It's weird living off cash alone, after all before the BK I had every card under the sun and never paid fees, plus had way too high credit limits. At the same time it is liberating not feeling the weight of the debt on my shoulders! I just want to raise my credit score so I can get a good mortgage rate within the next year, I am waiting to the one year post mark for an FHA mortgage since I filed Ch 13 last August.

StaciMM

03-01-2006, 02:26 PM

Nk29-

If you're in 13, aren't you not supposed to open new credit without the trustee's permission? And, I don't think FHA goes by credit score.

nk29

03-02-2006, 06:20 AM

Hi,

My attorney said it was fine to apply for credit cards without getting any special approval. If I were out shopping for a mortgage or car, then for sure I would need approval. To be honest, my whole experience with the Ch 13 has been very lax and not at all what I was expecting it to be, no one ever bothers me I just send in my $200 a month and that's it. I even got to keep my tax return for $800! When I asked my attorney's office if I got to keep it, they thought I was crazy to think they would take it away, they said they only do that if you had back taxes owed. I am in NJ, by the way.

FHA does consider credit score, it deducts or adds a certain %age to your APR depending on how good or bad the score. I applied last year before my BK and was given a table of what the score ranges and APR adjustments were:

Type of adjustment
Amount of adjustment to the rate

Loan amount < $150,000
+ .125%
Loan amount < $120,000
+ .250%

Credit score > 680
- .250%
Credit score > 660
- .125%
Credit score < 620
+ .125%

Credit score < 580
+ .250%

Credit score < 550
+ .500%

Bankruptcy/CCCS
+ .250%

Non-occupying Co-borrower
+ .125%

Open collection accounts
+ .125%

Manufactured home
+ .500%

concerned

03-25-2006, 09:59 AM

Ok, sar far, I have a Orchard Bank Card, a Household Card, and a Target Card--thanks to the advice on the forum. I have started to get pre-approved offers in the mail. Should I bother trying for them? Most show 0%, no annual fee, etc., but the catch is they are all appearing in my maiden name, which is surprising. Any suggestions? I would love to get a card before next year that doesn't have a fee, but at the same time I know that if I close one of the new cards, it will hurt my credit score.

Thanks,
concerned

pink_amulet

05-18-2006, 07:51 PM

Hubby applied for the Orchard bank and go the email today saying he was approved for the unsecured one. He already has First Premier with only $300 limit, so we figure Orchard will be $300 limit as well. Oh well it is a start.

Oh and by the way on 4/28/06 he was denied for the Hooters card, yet on 5/17/06 he was approved for the Orchard unsecured...so Hooters is still being picky...and also he waited for the "letter" of denial..LOL the only thing is stated was they were unable to approve him based on what the credit report said.....it never mentioned BK or anything....so it was just a general letter.:aggress:

pink

highNdry

05-21-2006, 03:39 PM

Hi Pink_amulet

You have to ask Hooters for the reason for the denial, which they will mail in a another letter.

Naz428

06-04-2006, 10:22 AM

Hi everyone. I noticed that a lot of the members on the board have been approved for a Target card after bankruptcy. My chapter 7 bankrupcty was discharged in May of 2005 and I just got approved for a Orchard Bank card. I would like to know from the people that have been approved did you already have a few credit cards in good standing when you got approved?

Thanks in advance for any feedback.

FilingOnMyOwn

06-04-2006, 04:24 PM

Tiedyedsky

06-06-2006, 06:32 AM

Can you use a Target credit card only at Target?

tinroofrusted

06-06-2006, 07:03 AM

Can you use a Target credit card only at Target?

Redcard, yes
Target Visa you can use anywhere.

Tiedyedsky

06-06-2006, 08:35 AM

HAHA! I will tell my husband. He saw that I asked that and said it was a dumb question that of course it can only be used at Target! Thanks for the info!

I also just applied for a credit card at Wal-mart and my husband was approved for $100 and I got approved for $490! Yay!

nessa30

06-12-2006, 09:59 AM

:dry: Aspire Visa sent me a card and I'm going to go with them. My monthly payment will be $20.00 a month/ First premier wants me to send a processing fee for $39.00 but didnt send me the card. Contiental Mastercard sent me a card with the same program fees like Aspire and both will give me the $300 limit but Contiental wants you to pay $50.00 a month! I said no matter what everybody says about Aspire I'll go with them and only use it for emergency and as long they report then I'm fine. I have to get my credit score up! Right now it's 539. Plus i have done my research on all of these cards. So we'll see!

BK7 Filed: 10-15-05
Discharged: 2-22-06
Closed: 2-22-06
EQ>587
EX>517
TR>607

First Premier: $200.00

invest1choice

06-12-2006, 11:44 AM

Is Target red card easier to get approved?

invest1choice

06-22-2006, 07:01 PM

My husband applied for capital one and Macy's recently
I heard they were easy but he was denied.... :(

So far denial on husband :
Hooters
Capital one
Macy's
Providian
Orchard

dj007

06-28-2006, 06:16 AM

To make you feel better :
I was denied on :

Hooters.....Probably because i included a merrick bank cc with around $3000 in my chapter 7 on 8/2005 and discharged on 01/2006 .

Orchard : I applied on january before my discharge and was approved but had to mail a $39.00 check or mo which i never did.4 to 6 weeks later i call to mail in the mo and they don`t see my application.So i re-apply just to get the secured offer.Also two accounts included in the bankruptcy were store cards from seaman`s $5000 and i belive the other was pcrichard&son $4000 they both were HSBC bank as well as orchard.

Target : Denied

Sam`s club : Denied .....This one after paying at the register in a local sam`s club an paying with my wife card, she gets an offer with $400 approved for a sams/walmart card. and her credit is just like mine or a few score points under,then 10 days later i get a denial letter from sams.But i never applied for ...can that happen

My wife also got aproved from :

Hooters-----$1000
jc penney----$150
and sams ---$400

she have for awhile :

aspire---$300.00
credit one bank -- $150.00

I got none :yes2:

Probably that will make you feel better hehe

AMISLANDER

07-03-2006, 10:47 AM

....the warning about getting credit cards that you previously bk'd on...and how they can possibly add the old balance onto your new card?

Anyone had any experience with this yet?

FilingOnMyOwn

07-18-2006, 08:09 PM

Is Target red card easier to get approved?

Yes, if you apply for the target visa and are declined, you will automatically be considered for the red card which has more lenient credit requirements.

krobin02

07-19-2006, 08:16 AM

Hi Shygal,

2) First Bankcard, First National Bank of Omaha, p.o. Box 2978, Omaha, NE 68172-9895(Family Merchants Bank (on card)

Stay away from FNBO!!! They're EVIL! (Personal experience)

robivi3

07-19-2006, 09:39 AM

I still have the Aspire card. I h ave had zero problems, down to $50 dollar fee, 2000 limit and no 6.95 pr month showing on the bill. Zerp problems, about two years i've had the card.

lostsoul23

07-25-2006, 06:42 PM

....the warning about getting credit cards that you previously bk'd on...and how they can possibly add the old balance onto your new card?

Anyone had any experience with this yet?

I was told by a BK lawyer that they can do that as long as it is disclosed in the terms & conditions. So if you apply for one and get approved for it, and it's someone you BK'd on before, make sure you read through those terms & conditions to make sure they don't slide that in on you.

amyl

08-05-2006, 06:20 PM

I qualified for the Aspire card about 2 weeks after BK was discharged. I was scared at first to get it..but I have had no problems with it. I have had it since Feb 2006.

I pay by check on the internet ((it's free)) but if you pay on a sat and your bill is due that sun it will not post til monday...I have never got a late fee though and they have never reported that I have been late. It has only happened once though.

cr2285

09-21-2006, 09:14 PM

Approved for Valero (aka Diamond Shamrock), $400 CL, no annual fee.

nessa30

09-26-2006, 06:52 PM

Approved for Orchard Bank unsecured, $300.00 limit.!!! I'm satisfied. At first they wouldnt give me one. They was always referring me to the secure card. Now since my First Premier card is reporting it made a difference. I'm on my way!!!!:clapping:

FilingOnMyOwn

09-27-2006, 04:06 PM

nessa30

09-30-2006, 06:12 PM

Hi filingonmyown,
when should i apply for a capital one since you suggested it.? I'm trying to wait until the beginning of the year to apply for anything else.Just Curious? Especially since Hooters Mastercard turned me down.

FilingOnMyOwn

10-01-2006, 12:50 AM

Capital One is much more user friendly then hooters card in my experience. I got the capital one card 1 month discharged, but got declined for the hooters card a couple times before they gave it to me. If I were you I would wait about a month until your orchard card starts to report, then apply for the capital one card. Wouldn't hurt to check up on all 3 of your credit reports in the meantime to make sure they are all completely fixed, because capital one will pull ALL 3 OF THEM.

nessa30

10-04-2006, 07:02 PM

Ok, I will take your advice on that. And believe me I'm going back and forth with transunion & experian to make sure they report my bankruptcy correct. still have some accounts not showing in bankruptcy status. This week I have to send transunion a list of all my creditors that were included just to make sure they have everything right.!

CATCHMEIFYOUCAN

10-05-2006, 03:01 AM

Back in the day after my Chapter 7 was discharged (in the early 90's) I had obtained a Capital One Visa Card where if I sent them money THAT was my limit (No Fees - My Credit - and no, they did not treat it like a Debit card and everything was reported to all 3 bureaus like a credit card), eventually overtime they would reimburse me the monies I put into it and establish a line of credit with them. Through the years that have come and gone I was establishing credit left and right with big name banks and credit unions and no fees. I'm sure No Fee Credit Card offers are still out there? Maybe even Capital One? Those were the days!

Just my two cents, Catchmeifyoucan :cool:

concerned

10-28-2006, 10:56 AM

Should I be concerned about applying for a Capital One if i had some money discharged from them in my Ch. 7 BK?

FilingOnMyOwn

10-28-2006, 07:58 PM

Probably not. Worst case is if they decline you immediately due to that fact, chances are they wouldn't go and waste any more inquiries on your credit reports.

concerned

10-29-2006, 02:49 PM

quest4me

11-03-2006, 12:26 PM

Hi,

I'm curious if anyone would recommend the HSBC card. I got an offer today and wondering if it's about the same as Orchard.

FilingOnMyOwn

11-03-2006, 12:29 PM

Filing on my own:

I noticed that you had a JFCU card and I looked into applying for that card; however, when I tried to apply it came up as a "loan application". Is this really a credit card or some sort of loan?

Yes, its a visa credit card, and a credit card is an unsecured loan. You have to complete the loan application to be considered for a credit card.

RBAllis

07-13-2007, 08:09 PM

Orchard is very good they report to all 3 of the agencies. I had one, $1000 in collateral, so no annual fee. Since September 2006, always paid on time, told my attny that I wanted to reaffirm this, small balance on it. Doing my filing she makes a mistake send them a letter. SO guess what, I sent her a nasty email, yelled at customer service I want the phone# of the person who handles the situation of new filers, I want a replacement card with my collateral on it. My attourney is also calling, she has "fixed" my file, but I am not letting her off the hook. I would recommend Orchard. I did get a mailing that it is a $100 annual fee. I don't honestly remember last September if I had to pay the $100 with the collateral.

PaKettle

11-26-2007, 01:19 PM

I was told by a BK lawyer that they can do that as long as it is disclosed in the terms & conditions. So if you apply for one and get approved for it, and it's someone you BK'd on before, make sure you read through those terms & conditions to make sure they don't slide that in on you.

Umm, this kind of got posted and no one commented on it.
I'd like to hear from an expert here, maybe a moderator:

Can this be true??
How could they add debt back in that has been discharged in bankruptcy, through fine print on a credit card??

Is this legal in some states? All states? Any states???

Sounds crazy...

emoney

11-26-2007, 03:29 PM

PaKettle

11-30-2007, 06:48 PM

The truth is that most of us in this forum have not done very well managing our $$$ and cents. So, why are we paying these high fees to get credit that got us here in the first place?

A good credit score can help employment and the cost of insurance, so we need a good score.

The lowest cost secured card I have found is from First National Bank of Ohama. The fee is $20/year, and the opening deposit is $500, and they report to all three CRAs.

So, why do others get ripped off with Orchard and the likes them, I ask.
regards,
emoney

Thanks for the info! So, Orchard will be my first application!

Question: (sorry if this has been answered somewhere, I just don't have time at the moment to search for it and hope someone who knows can just save me the time):
When is it best to apply for new credit? Is it okay right after the discharge? Or should one wait a while? Or ??? Also, will someone like Capitol One consider giving you more credit even though you filed againt them for a grand or two?

tinroofrusted

12-01-2007, 04:03 AM

The truth is that most of us in this forum have not done very well managing our $$$ and cents. So, why are we paying these high fees to get credit that got us here in the first place?

Not entirely true.
Many of us were hit with major medical bills, divorce, or identity theft or job loss. It really had nothing to do with money management.

BeMore

02-10-2008, 09:22 AM

To avoid NSF check charges, if your bank/credit union will allow it, tie your savings account to your checking account. Then if you do not have sufficient funds, it draws from your savings. This will solve the problem of the bank/credit union running the checks before the deposits.

twuoo

02-10-2008, 10:29 AM

PaKettle

02-11-2008, 12:47 PM

Hey Guys:

Just for the heck of it, I applied for a capital one card online.

At the time, I was only 20 days post my 341 meeting. I'm not discharged yet.

But they still approved me for a $1000 platinum card.

No fees (as far as I know of).

Interesting.
Did you include them in your bankruptcy?
I did, so am wondering if they will trust me again... (though of course they should since I cannot file again). But who knows?

twuoo

02-11-2008, 01:55 PM

No, I've never had a Captial One anything.

coma

02-11-2008, 02:05 PM

Hey Guys:

Just for the heck of it, I applied for a capital one card online.

At the time, I was only 20 days post my 341 meeting. I'm not discharged yet.

But they still approved me for a $1000 platinum card.

No fees (as far as I know of).

I heard that they do that, and I burned and inq. just to see, but we didn't get anything...oh well :) I know there is tons of cleaning we have to do, and our discharge is not showing yet.

PaKettle

02-14-2008, 12:03 PM

Be very careful about signing up for a credit card company that you filed against.
I've heard - though can't swear it's true - that sometimes they put in the fine print, that you must pay back what you previously owed. I don't see how this is legal if it's only in fine print, but apparently it is.

So either read the fine print VERY carefully, OR just don't get credit with a bank you filed against.

bkdone

02-28-2008, 08:51 AM

I got my husband an Orchard shortly following our Ch. 13 discharge. We've had the card for about a year... We also got Hooters and HSBC. The Orchard card has no annual fee, and he has a $1150 limit. My HSBC has a $2400 limit, and Hooters is $1000. All have been reported to the credit bureaus timely, and we've had no problems with any of them.

Hello. I was wondering if anyone had any experience with the Orchard Bank credit card. I just got an offer in the mail for one of these cards. $59 annual fee and looks like $3.50 monthly maint fee. I'm sure the limit is low like $300.00 but I guess I wont know until I am actually approved. It actually says "Pre-selected" and not "Pre-approved". Anyone know if these guys report every month? I'm looking to rebuild my credit and the fees here seem to be much cheaper than Aspire. I will go with Aspire if I must because of the great review by Robivi3. Your info is appreciated Robivi3. Thank you. -Joe

rickisbroke

05-07-2008, 06:32 PM

I filed Chapter 7 April 29 2008 and my 341 is early June.
When is it legally ok to apply for a secured card or a BK friendly card?
I don't want to mess up my Chapter 7 proceedings, but want to start rebuilding ASAP!
I know paying utils and mortgage on time will help. That hasn't been a problem.
Thanks!

HHM

05-07-2008, 07:18 PM

I filed Chapter 7 April 29 2008 and my 341 is early June.
When is it legally ok to apply for a secured card or a BK friendly card?
I don't want to mess up my Chapter 7 proceedings, but want to start rebuilding ASAP!
I know paying untiles and mortgage on time will help. That hasn't been a problem.
Thanks!

After you receive your discharge.

jdmc1973

05-08-2008, 07:59 AM

I applied for Cap 1 (I had IIB them). They didn't even bother pulling any of my credit reports, they declined me due to 'too many past or present delinquencies with Cap 1'. LOL I'm sure they'll come calling at some point, it just may have been too soon for me.

Cali

05-08-2008, 02:10 PM

I second HHM response, when you are discharged.

I filed Chapter 7 April 29 2008 and my 341 is early June.
When is it legally ok to apply for a secured card or a BK friendly card?
I don't want to mess up my Chapter 7 proceedings, but want to start rebuilding ASAP!
I know paying utils and mortgage on time will help. That hasn't been a problem.
Thanks!

PaKettle

05-12-2008, 12:10 AM

rickisbroke

05-13-2008, 04:54 PM

I haven't had my 341 yet and applied for an Orchard Bank credit card (I did this before I asked my question above), and I got it. I will admit I did this after reading that somebody else had applied after their 341 but before discharge, and I must have done it when I was drunk because I don't clearly remember applying for the card. (I know that's bad.)
So...am I in deep doo doo? Will the court or trustee even know about it if I don't use it?
I don't want my case to get thrown out.
My lawyer didn't really answer the question of when it was ok or legal to get the card. He just insisted that it wouldn't even happen until after my 341.

kneedeep

08-06-2008, 04:55 AM

I am excited right now..I just applied online with Orchard and was approved for $300 limit, 14.90% and $59 annual fee. It's not much, but it's definitely a start for me.

ccidiot01

08-11-2008, 11:06 AM

I am excited right now..I just applied online with Orchard and was approved for $300 limit, 14.90% and $59 annual fee. It's not much, but it's definitely a start for me.

In all likelihood they will raise your APR significantly within a few statement periods, but it is still a revolving credit line that can be used to rebuild your rating...

tunemanrss

08-18-2008, 11:42 AM

FYI: I was just discharged one month ago from a no asset chapter 7. I applied for an unsecured Capital One Card just for the hell of it today on their website, and low and behold I was approved!!!! I got a $750 credit limit, NO FEES, 0% APR until March/2009 and there after an APR of 15.99%. No monthly fees, no maintanance fees, none of that. My credit was really shot...I think I had a 500 fico or something like that !!!!! Anyway, it just goes to show you that anything is possible, and by the way I had over 100k in unsecured credit debt.

businesscredit

09-03-2008, 09:24 PM

Don't go to Aspire just based on what i have stated. I researched the Cards through Ripoffreports.com. Aspire does have numerous complaints. As far as the State of Florida goes they seem to be few. Research any card thoroughly before you accept it.

Type in some keywords that will bring up different reports for the cards you are looking for.

Yes, before applying for credit cards, research it first. Find the one which you really need and compare rate and features from other cards.

rickisbroke

09-22-2008, 07:05 PM

I applied for and received an Orchard Bank Mastercard before discharge...oops. I applied before asking if it was ok to do so, but they approved me, even with the open BK. It has a $500 limit, 8.9APR, but does have a $5 a month maint. fee. Not bad, though.
I also recently got a Hooters Mastercard with a $600 limit, no annual fee, but the APR is around 16%.
I'll be careful. It's just nice to have something to fall back on if I need it and not have to go crawling back to dad again...

daidai2008

11-17-2008, 01:30 PM

My scores are in the mid 500's to 600 and 1st premiere and declined me? What is so funny is they sent me an offer. WTF... I got declined by Hooters and CapitalOne. Orchard and Target said we will give a response in 2 weeks which to me is declined. I just wanted a card to help raise my score. Guess I will save up to get a secured card =(

BassBoy

11-17-2008, 02:55 PM

Those pre-approval mailers are never a guaranteed approval. These types of lenders only see that your credit is bad and they don't know you're credit history until you actually apply. Besides, with First Premier, the first $200 of your $300 credit limit is gone before you ever receive the card because of the upfront fees. Continential Finance is the same way.

Don't give up on Orchard just yet. Orchard may need to verify a little information before they approve you. You should call and check with them regarding the status of the application and you may be able to find out if you're approved or declined.

I got the same response ("Will receive a response within 2 weeks") when I applied for my Hooters Card and my Hooters card showed up about 10 days later.

Nicollette

11-17-2008, 06:44 PM

....the warning about getting credit cards that you previously bk'd on...and how they can possibly add the old balance onto your new card?

Anyone had any experience with this yet?
Does this really happen? What credit card companies are known to do this? I included Orchard Bank in my Ch 13, and I currently have another one that they issued me two months ago. It only has a $300 limit, and I know that's not much, but I never use it. I just want something to show on my credit report with on-time payments. If they were gonna add the balance from the card that I included in my plan, do you think they would have done it by now?

daidai2008

11-25-2008, 05:49 AM

After reading several post I applief for a Wal-Mart, Target and Kay Jewlers card. They all declined and stated the reason was because of the bankruptcy. Macy's and Captial One declined for the same reason as well.

Noodle Mama

12-01-2008, 12:57 PM

I just applied for a household bank card and was approved for a 8.9% platinum card. I don't know the credit limit yet but my jaw absolutely hit the floor when I saw the approval message.

My credit reports all show that my debts were discharged and all trades show $0 balance. All I know is that my Experian score is 595....don't know the other two. My bk was discharged a month ago (11/5/08) and I applied today. I did not have any household bank debts in the bankruptcy (but my husband did). So I applied in my name only. WOW!

:)

PaKettle

12-05-2008, 10:27 AM

Within about 8 months after filing Ch. 7, I got:
Best Buy MC $500 (HSBC), Orchard MC $750 (HSBC) and WAMU MC ($2500).
I just got an offer from Juniper.com for a 7.99% fixed rate up to $5000 no fee card.
But I won't apply for it because I'm unemployed and would have to lie and say I'm employed (I assume) to get it. So I won't apply. Also, really the credit I have is enough already.

RedLight

12-10-2008, 04:44 AM

I was discharged and closed on 12/8/2008, 2 days ago, and this morning I decided to press my luck and see what I could get. So, I went to Orchard Bank and actually got approved for a $500 CC with a $39 annual fee. Then I went to Capital One and got approved for a CC. I don't know what the limit is yet on it, I need to call, but that is a good start. Since all of my CC's were closed during the bk and neither mortgage or cars are reporting, I needed something to help re-establish my credit. I am going to make one small purchase each month on them and probably apply for the Target or Hooters card in 6 months time. WOO HOO!!!

tazzy20176

12-10-2008, 04:51 AM

Did you include any debt from HSBC in your bankruptcy?

RedLight

12-10-2008, 06:04 AM

Did you include any debt from HSBC in your bankruptcy?

No. All of my CC debt was on two Chase cards and two Amex cards.

HB Johnson

12-10-2008, 07:21 AM

This is the best card out there. It will help in re establishing credit and positive items on your bureaus. Just keep making the payment.

Intoodeep80

01-04-2009, 12:46 PM

This is the best card out there. It will help in re establishing credit and positive items on your bureaus. Just keep making the payment.

Uhhhh... sure doesnt sound like the "best card out there" :blink:

http://www.consumeraffairs.com/credit_cards/aspire.html

StartingOver08

01-05-2009, 03:54 AM

This is the best card out there. It will help in re establishing credit and positive items on your bureaus. Just keep making the payment.

ASPIRE Credit Card is offered by CompuCredit. Aspire shut down right after Christmas 2008. Part of the reason they shut down is due to the FTC settlement made by CompuCredit for non disclosure of terms offered in their credit cards. See link below:

ATLANTA, GA -- (Marketwire) -- 12/19/08 -- CompuCredit Corporation (NASDAQ: CCRT) todayannounced that it has reached a settlement with the Federal DepositInsurance Corporation (FDIC) and the Federal Trade Commission (FTC) toresolve their regulatory inquiries regarding the Company's credit cardmarketing practices. The settlement with the agencies relates to marketingpractices from 2005 and prior years, does not require any change toCompuCredit's existing marketing or servicing practices and does not have amaterial impact on CompuCredit's financial condition.

"We are pleased to have reached this settlement with the FDIC and the FTCin order to resolve their concerns regarding the Company's past marketingpractices," said David Hanna, CompuCredit's Chairman and Chief ExecutiveOfficer.

The settlement covers customers throughout the United States and providesfor CompuCredit to credit approximately $114 million to certain customeraccounts that were opened between 2001 and 2005 and subsequently chargedoff or were closed with no purchase activity. This amount involves mostlynon-cash credits -- in effect, reversals of amounts for which payments werenever received. Cash refunds to consumers are estimated to beapproximately $3.7 million, and the Company also agreed to pay $2.4 millionto the U.S. Treasury.

About CompuCredit

CompuCredit is a specialty finance company and marketer of branded creditcards and related financial services. CompuCredit provides these servicesto consumers who are underserved by traditional financial institutions.Through corporate and affinity contributions focused on the underserved andun-banked communities, CompuCredit also uses its financial resources andvolunteer efforts to address the numerous financial challenges affectingits customers. For more information about CompuCredit, visitwww.CompuCredit.com.

Contacts:Media Relations:Tom Donahue770.828.1577Email ContactInvestor Relations:Jay Putnam770.828.2612Email Contact

http://www.ibtimes.com/prnews/20081219/compucredit-reaches-agreement-with-fdic-ftc.htm

santadawg

01-05-2009, 05:19 PM

I just filed----orchard bank closed my account just like that, I even had a zero balance with them and paid my $35 annual fee in August.

carbk

01-23-2009, 01:38 PM

Applied for a Hooters card and I got one in the mail with a $500 credit line. Then I read that it had a $72 annual fee and my interest rate would be 25%!!! So I called them and I closed it right away. I actually already have 2 credit cards that I got after my bk was discharged. I have capital one and orchard bank. My capital one was 0% apr for the first billing cycles, and is 8.90% now, hsbc is 14.90% apr so why the heck does hooters think I would accept there 25% apr cc?

Dirk Squarejaw

02-05-2009, 09:53 AM

jdiggs

02-07-2009, 10:34 PM

An odd thing just happened to me.

About 8:00am this morning, I got onto Orchard's site and used their online tool that pick's out a card of theirs that you are pre-qualified for after you type in some basic info. I put in my name, address, SS#, etc. and on the next page, it told me that I qualified for their Secured Card.

I got caught up doing something else and just got back to the comptuer. I went back to their site with the intentions of getting this secured card. However, when I went through the same process, it offered me their Platinum Card. So I put my info in, complete the process and used their link to check on my application. Guess what? I got approved for a $750-limit card from them. If I'd finished the application the first time, I would have had to pay them $200 up front for their secured card.

Odd....

I wonder if its a fluke, or if it somehow the system knows you've been there and entered your info and backed out that it offers you the next better product if you go back.

Interesting I had a similar experience. I used the online tool to apply for a card and it said I qualified for a classic card but it needed my checking account info to pre-authorize $25.00 to make sure I had money in the bank or something and I didn't know where my checkbook was so I left it alone and it timed out. So later with checkbook in hand I tried to do the same steps and it then offered me the Platinum card as well but it just said it was in for review and that it would notify me by E-mail within 10-14 days and I have not heard anything...

Dirk Squarejaw

02-10-2009, 10:08 AM

Just went home for lunch and guess what.....I have a new card.

So here's a recap:

2/5 8am: I went to the Orchard site and used their tool to match me to a pre-approved card. I was approved for their secured card with minimum $200 deposit.
2/5 1pm: Something came up the first time I logged in and I had to walk away from the computer. After lunch, I log back in and enter the same info but some how in 5hrs time I went from a secured car to being approved for their Platinum card with a $750 limit.
2/6: I get an email with instructions on how to check my progress. I check it and Orchard's site says that I'm approved for $750 and I will recieve my card and info shortly.
2/10: The card came in the mail today.

I still think that somehow through IP address or your info you type in it makes a better offer if you close out of the process and re-try it later.

nana

03-22-2009, 09:29 AM

WIll my bank debit card be taken away if I file Chapter 7? TIA

StartingOver08

03-22-2009, 09:46 AM

No, if you are not overdrafted in your account and you bank with a neutral bank, your debit card is fine.

ansky0007

03-22-2009, 10:39 AM

cindywho

03-26-2009, 07:52 AM

pawn2e4

04-05-2009, 03:25 AM

Moms4Boys

07-09-2009, 06:02 AM

I applied for a Credit One Bank card and was approved. I am not sure the details yet, but I will update you when I find out. :)

sguerra923

07-09-2009, 10:32 AM

So is it a hit and miss type thing with credit card offers? Cause I got the orchard one.. but I'm waiting for a cap. one or something better.. its been about 6 months after I got discharged.. Should I just apply for cap one?

Moms4Boys

07-09-2009, 10:49 AM

I'm trying to figure out something? Is everyone paying each time to get copies of credit reports? I have already gotten the yearly free report (before the bottom dropped out)
Just want to prepare for cleaning it up post discharge. Thanx for any info

HAHA, I received my free copy and made some disputes. Well experian tells me I need to buy a report now in order to see the results (jerks). Needless to say I signed up for their monitoring service and I can pull my report unlimited amount of times. When I see the disputes have been resolved I will be canceling that subscription!

RainMoM

07-10-2009, 06:27 PM

4 days past discharge I received a pre-approved offer from Capital One, I also BK'd on Capital One for $12,000 and also sent a car back that was also held with Capital One but figured what the heck. I went online entered the offer info and I was approved for $1000. Already received the card and activated it. I never thought a company that I went BK on would that quickly go and give me a new card. Really ?? I too, have Capitol One, and i really like them, but i included them in my bk. so is it possible to get open another account with them at a later date AFTER bk ??

sguerra923

07-14-2009, 04:07 PM

I've been discharged for about 7 months now... Should I try to apply myself without waiting for offers because I haven't gotten any other than Orchard Bank? I want to try Cap One but I had a car loan with them and put it in my BK do you think I will have any complications?

And what card would your recommend applying for? Thanks in advance!

oldhack

07-14-2009, 06:16 PM

Odd. I've gotten a couple of other unsecured cards, but was declined by Cap One -- even though they were PIF and closed BEFORE my Chapter 13 filing. On my CR, Cap One is still reporting positively, but they won't offer me credit today. Weird.

pcnet21

07-29-2009, 05:01 PM

Just got approve from cap one with $3k limit...and got approved from Best Buy Master card but don't know the limit...got denied from bestbuy store card..Cap one has $39 per year fee and BB has $59 per year fee...rate is 12.95% and 14.95% which is pretty good for my credit..

I got discharged in May, 2009....for now, these 2 cards is plenty enough for me for my new life style..

jojo

07-29-2009, 08:02 PM

I recently applied for 2 credit cards and was denied. I read this thread, applied for the orchard bank - I did the pre-qualify option. It said I pre-qualified, so I went ahead and submitted the application. I was instantly approved for the platinum card, I definately thought secured. Looks like $500 to start. Yeah. I want to start re-establishing my credit and nobody else would even give me the opportunity. :yahoo:

Crazzyjen

07-30-2009, 09:53 AM

aces67

08-04-2009, 12:16 PM

So dh applied for a Cap One card expecting to get denied. It says he's approved and will receive his card in 7-10 days. It doesn't say the limit or if it's secured or not.

I guess we will wait and see.

amy1385

08-06-2009, 06:33 AM

I applied for a Cap 1 card a couple months ago - about 2 mos after discharge - and was denied. After reading this thread, I thought I'd try the Orchard Bank website and the pre-approval option. It said I was pre-approved for the Platinum card with a 9.xx% APR and a $59 annual fee. I was surprised about that - thinking if anything it would be a secured card or the one for limited credit history. So I appled, and it said it could not be processed online and I'd hear from them in 10-14 days - so I immediately thought "denial". I ended up calling them to see if I could be considered for the other card if I was denied, and it turned out I actually got approved! It's only $300 credit limit, but that's fine with me... I just want to put a monthly bill on there which I will put on an autopay option to build my credit back up. Thanks to previous posters for the info!!

toomuch

08-13-2009, 08:01 AM

Applied for a secured credit card online at Public Saving Bank [link removed by moderator - this forum does not recommend or endorse any financial websites - visit this one at your own risk]. This secured card is pretty new and there is $79 fees. I'm now waiting for my CC to arrive.

Hi Pawn, did you get your card from Public Saving Bank? I want to apply for a secured card for $500 mainly for car rentals for long trips. My car has 94k miles and I travel alone.

I've never heard of this bank. I was turned down by Orchard and Hooters. They won't even let me have a secured card.

Thanks,
Toomuch

downsized

08-14-2009, 07:38 PM

Well, knock me over with a feather! Our chapter 7 was discharged less than 2 weeks ago. Dh is unemployed and I work very part time, so we don't make a lot of cash right now. Dh has a contract job coming up that requires some travel which means hotels and rental cars that he has to front the money for and submit on an expense report later, so he needs a credit card. I thought I'd give a shot at capitol one, which we discharged 10,000 on in our BK. They approved me for $1,000 on the spot. Says card will be here in 7-10 days.

jadams

08-14-2009, 08:07 PM

Congratulations downsized!

Did you happen to try the "pre-qualify" option on the Capital One site first, or just straight up apply?

I'm curious how closely the lack of pre-qualified offers would track with the chances of approval.

I included them in my filing, so I'm not expecting anything -- but a small card post discharge would be nice. I'm petrified of my merchant processing company running an account review with my scores this low and terminating my account. With a small account reporting positive I should be able to bring my scores up to bad but not so low I risk termination.

downsized

08-14-2009, 08:42 PM

Yes, I did the "prequalify" first.

I was curious, so I applied for dh, too. He's the one who really needs the card anyway. He was denied. It said to try again in 45 days. The capitol one discharge on our filing papers have them listed as a joint acct. I'm thinking now that either it wasn't a joint acct or I wasn't the primary cardholder? Oh well. Doesn't matter. I'll see about adding him as a user on my acct so he can use the card when he travels.

UhOh

08-19-2009, 05:30 AM

I BK'd one HSBC card and three Chase cards July 2009.

I received a pre-approved Chase application in the mail. I sent it in. Denied "because of too many credit inquiries"

I then tried Orchard Bank. I did the pre-approval thing and that resulted in a $39 annual fee credit card online. I was thrilled. Unfortunately, later I received mail that said Denied "because of severely delinquent HSBC account"

So it has not been so easy for me. I'd like a card to start rebuilding and refreshing my financial future.

What do you suggest I do next?

downsized

08-19-2009, 05:50 AM

jadams

08-19-2009, 06:52 AM

So it has not been so easy for me. I'd like a card to start rebuilding and refreshing my financial future.

What do you suggest I do next?

I would suggest ordering your free copies of your credit reports (either your free yearly one, or use the "Recently Denied for Credit" option to request a free one).

Then make sure all of your accounts from the BK reflect a $0 balance and "Included in Bankruptcy" as the pay status (or something similar, just not "Charge Off" or "Past 120+ Days").

Dispute the ones that aren't correct.

That should help things look better before your next application.

ontheway

08-25-2009, 10:22 AM

I am trying to re-establish my credit, but it seems impossible.

My BK was discharged in January. It looks like my credit score is 518.

I have been turned down for First Premier, Orchard Bank and Aspire.

Any other suggestions?

AshShep01

08-27-2009, 07:33 PM

The road to rebuilding my credit hasn't been easy since my discharge in July 2009 Chapter 7. I had been reading these threads trying to figure out what credit card companies were BK Friendly LOL.... I quickly discovered that everybody's situation is different. I applied for Capital One, Best Buy Store Card, First Pemier Bank, Apple Visa Card... Nothing..I don't want or need any of these cards but I would like to start rebuilding my credit you know the whole fresh start thing. Every one of those companies came back with secured cc offers.

Applied for Credit One Bank.... 1-2-3 Approved for a visa with a $200.00 limit. Not much... But I don't plan on using it :) The annual fee is $59.00 they bill it on the first billing cycle. Give it a try... If you are trying to rebuild your credit.

HHM

08-27-2009, 08:03 PM

downsized

08-28-2009, 05:36 AM

Give me a break, you were discharged ONLY A MONTH AGO. WTF did you really expect. When it comes to credit cards, you typically need to wait about 6 months.

W~O~W!!! Have to say.........I'm surprised by such a response. Especially from a moderator! The poster wasn't even asking for a response. S/He was simply sharing their experience.

AshShep01

08-28-2009, 07:57 AM

Give me a break, you were discharged ONLY A MONTH AGO. WTF did you really expect. When it comes to credit cards, you typically need to wait about 6 months.

I gotta say I am pretty shocked by your response. I didn't mean July 2009, I was dicharged in June 2009, not that it makes a big difference. But everybody's situation is different, I was testing the waters. Like I said I don't need a credit card. I wanted one to start rebuilding my credit.

I hear stories on this board, about how people apply for credit during there BK and get approved. Or better yet just a day after the actual discharge. So why be so pass judgement on me??? Have a great day!

BassBoy

08-28-2009, 09:53 AM

Time is the best healer after a BK, so it is better for you to wait before you rack up too many inquiries.

And keep in mind.......the CC regulations are going to change and it may be harder to obtain new credit after a BK.

In any case, you got one approval, so start with that.

The road to rebuilding my credit hasn't been easy since my discharge in July 2009 Chapter 7. I had been reading these threads trying to figure out what credit card companies were BK Friendly LOL.... I quickly discovered that everybody's situation is different. I applied for Capital One, Best Buy Store Card, First Pemier Bank, Apple Visa Card... Nothing..I don't want or need any of these cards but I would like to start rebuilding my credit you know the whole fresh start thing. Every one of those companies came back with secured cc offers.

Applied for Credit One Bank.... 1-2-3 Approved for a visa with a $200.00 limit. Not much... But I don't plan on using it :) The annual fee is $59.00 they bill it on the first billing cycle. Give it a try... If you are trying to rebuild your credit.

jojo

08-28-2009, 04:43 PM

W~O~W!!! Have to say.........I'm surprised by such a response. Especially from a moderator! The poster wasn't even asking for a response. S/He was simply sharing their experience.

I was shocked myself and didn't even notice it was a moderator.
That was UNNECESSARY and harsh!

Stilltheone

08-29-2009, 02:59 PM

I have to say we got several credit cards within 30 days of discharge...2 Orchard Banks, 2 Targets, 2 Best Buys, 2 Hooters and 2 Capital Ones.

BUT, I think that was before the "credit crisis" hit and banks were still freely lending....now, not so much.

Lately, it seems like it takes time to rebuild. I wish you the best of luck and keep pluggin' away.

oldhack

08-29-2009, 06:51 PM

I was shocked myself and didn't even notice it was a moderator.
That was UNNECESSARY and harsh!
I disagree. Best we ALL realize that credit isn't an entitlement, but a privilege. And almost ALL of us here have abused that privilege, at least in the eyes of lenders! Because, to them -- and you can understand their point of view if you think about it -- that's what bankruptcy is: creditor abuse!
In no way am I suggesting that all of us who've decided that bankruptcy was a wise business decision for ourselves are fiscal deadbeats. I know I'm not -- I've always paid what I could to whom I could (my unsecured got 80% in a recently discharged Chapter 13, and GMAC -- one of those crammed-down creditors -- just approved a 7.94% to me for a car!). But, I also realize that I've cost my creditors money they were legally entitled to expect. I'm thankful when they give me another chance, and understanding when they don't.
I fear those who don't realize their status with creditors are headed down the same, damned road again.

oldhack

08-29-2009, 06:57 PM

deleted duplicate post

ndawg27

08-30-2009, 05:53 AM

Wow, HHM seems really angry... I think he needs to explore that and not transfer that anger on to others. I applied 25 days out of my BK and got approved for a Capital One and First Premiere. The advise to wait is the best. Try again for a Cap One because they have no annual fees. Capital One is also really BK friendly so just wait another 90 days and reapply. I had my card since February and they just raised my credit limit to 1500, woo hoo!

Mi Bankruptcy

08-31-2009, 06:18 AM

OK, I need to get a credit card for business travel. I really don't want one. I pulled my credit report and checked my FICO. I have a 633. Is the best place to apply to is Capitol One? I really don't want a credit card but right after bankruptcy I went on a business trip and they put a hold on $250.00 of my money because I used my debit card.

I filed CH 7 Nov08 and was discharged in April09. Kept two cars and home. Any thoughts?

Mi Bankruptcy

08-31-2009, 07:05 AM

jadams

08-31-2009, 08:16 AM

Did it mention anything about "Credit Steps"?

It's a common thing on the lower-end Capital One cards. Sort of guaranteed line increases if you behave.

After 3 months of on time payments, under limit, etc. you would usually go to $1000. After a total of 6 months you could get another increase to be at $1500.

The "Credit Steps" cards don't frequently grow much beyond the last step, but $1500 should be a good amount for infrequent business travel. But low enough that you can't get into too much trouble.

Mi Bankruptcy

09-02-2009, 11:22 AM

I didn't see anything. I will take a look at the paper work when it arrives. I received an offer from first premier and the really sock the fees in. By the time I would get a card and all their little fees I would have $74.00 left on the card.. What a joke..

music12

09-02-2009, 12:41 PM

hmmmm, HHM is usually more polite. i would say he must have just had a bad day and took it out, unfairly, on a forum member. it's not like him, but we are all human. i hope he is ok by now.

Exinobel102

09-03-2009, 05:49 AM

Well my discharge is not set until Sept 23 2009 and just got approved for the orchard bank gold card. I know that you are not supposed to apply for credit while in bankruptcy, but my finger slipped over the mouse....oh well....even though I have a low limit of $300.00, I plan on making small purchases such as gas and lunch here in there. The interest rate is not at nosebleed rates and their approval criteria is somewhat lax compared to other credit card issuers. I want to get my credit score to atlease 620 in the next few months. My credit score currently stands as 600 Exp, 606 Equi and 587 Trans.

RainMoM

09-03-2009, 12:33 PM

Exinobel102

09-08-2009, 07:24 AM

I want to try Household after a few months of faithful payment on the Orchard Bank Account. I was looking at their Int rates and they are not actually too bad. They are also backed by HSBC, which ironically I BK'd on but they seem to be BK freindly. Household's approval criteria seems to be similar to Orchard's. They pre approved me for the Household Platinum through their soft hit application on their website, but Im not going to apply anytime soon. I don't want too many inquiries post discharge. My efforts are going to go towards cleaning up my credit reports. Exp and Equi are correct for the most part, with one or two accounts lingering that were included in my petition, shouldn't be too hard to correct, though my transunion report is a total mess. There is a twenty point differnce in my score formt he other to bureaus and I keep on reading that they are the hardest to work with. So I guess Im just goingt o roll up my sleeves and dive right into the dirty work...lol. I keep on hearing that people are getting approved for Cap 1, but are people reading the terms and disclosurs for these cards. Theri "Low int" credit cards all have an int rate of 22%. No Thank You, goos to know that they black listed me...lol

jennordhavn

09-09-2009, 10:59 AM

OK, curiosity killed my kids cat. I applied at CAP 1. Here is what the approval said ( copied from the screen) Well, that enough to pay for my conference and hotel.

Credit Limit:$500.00
Purchase APR: 0% until March 2010. After March 2010, A variable rate, currently equal to 19.8% Transfer APR: A variable rate, currently equal to 19.8%

No, I did not BK Cap 1. I have never liked them. So.. maybe I can benefit from them.

Congrats! I got the 7-10 day message with Cap 1 and then I got an email today saying my card was mailed. So I have no idea what the limit or APR is (I think when I applied it said 14.99%). I did BK a Cap 1 account and my discharge was in March.

meinnc

09-12-2009, 05:59 PM

Household Bank via HSBC approved me for a card two days after discharge from Chapter 7.

No fees, no annual fee or service fee or any of that stuff. Just a $500 limit, 19% rate, not that I ever plan to carry a balance. I just want to rebuild credit.

I couldn't believe I got approved, but I did have pretty good credit before BK....I paid all my bills up until the month I filed, then BAM! Filed out of nowhere. I heard that can help- not trashing your credit completely. Who knows?

I also didn't bankrupt on HSBC- I had paid them off and had a savings account online with them, with $0 in it, though! Lol.....

Anyhow, maybe you should try them out.

jennordhavn

09-15-2009, 08:25 AM

I got my Cap1 card yesterday. It's a $500 limit. I couldn't find any information in the little inserts about APR but I'm pretty sure when I applied it was 14.99. It is the No Hassle Rewards card. YAY.

fyi2

09-15-2009, 01:35 PM

anyone know about GE.. i would like to apply for care credit for glasses/contacts while improving credit... anyone?

Pattie Smith

10-22-2009, 03:24 PM

I have received two offers from Orchard Bank the past couple months. I need a little advice on what company would be the best to have. We have been in BK for two years now.

downsized

10-22-2009, 05:14 PM

I have received two offers from Orchard Bank the past couple months. I need a little advice on what company would be the best to have. We have been in BK for two years now.

I would first try Capitol One. You can apply online.

Amy26

10-24-2009, 09:26 AM

Doghouse

10-26-2009, 10:31 PM

I just applied for a Cap One card and got approved for $1000 with $39 yearly fee and 0% APR till April 2010 and then 19.8% after. Nice. I have been credit card free since I stopped all payments in Oct '08. Filed for BK in late April 09.

I had my BK discharged in Aug 09 and closed in Sept 09, less than 2 months ago. I will continue to be a cash/debit card only person but like many others here I want to slowly begin to rebuild my credit by making and paying off small purchases.

prettyobk

11-04-2009, 04:28 PM

Wal-Mart approves cards for $100?? :blink:

HAHA! I will tell my husband. He saw that I asked that and said it was a dumb question that of course it can only be used at Target! Thanks for the info!

I also just applied for a credit card at Wal-mart and my husband was approved for $100 and I got approved for $490! Yay!

carbk

11-05-2009, 07:35 PM

Wal-Mart approves cards for $100?? :blink:

lol. Wow

prettyobk

11-06-2009, 09:49 PM

Smart moves. :yahoo: My lawyer filed this week. Says by Feb/March I should be discharged.

I just applied for a Cap One card and got approved for $1000 with $39 yearly fee and 0% APR till April 2010 and then 19.8% after. Nice. I have been credit card free since I stopped all payments in Oct '08. Filed for BK in late April 09.

I had my BK discharged in Aug 09 and closed in Sept 09, less than 2 months ago. I will continue to be a cash/debit card only person but like many others here I want to slowly begin to rebuild my credit by making and paying off small purchases.

SPalin

11-07-2009, 02:27 PM

Capital One will not approve me for anything. We tried them for car loan and credit card. All the denial letters I keep getting from them cite "seriously delinquency with captial one accounts" ... I only bk'd a credit card with them with a 1,500 dollar balance. So, apparently they forgive everyone but me... :P

Looks like I'm triple damned! Since I have three current accounts (credit cards) with them (paid on time from day one and until the filing 11/2), but listed them in my Chp 7 filing last week. After my discharge in 2/2010, should I try and apply with them or look else were like Orchard or HSBC? Capital One is the only one of my credit cards I have kept up as they are the only company that would work with me (due a pay cuts), unlike Chase/WAHU, and Citi.

I know that I let the CC's get out of hand and only having a Visa debit will not be helpful on rebuilding my credit... so just trying to come up a strategy after Chp 7! Any words of wisdom?

tanya0525

11-09-2009, 04:16 PM

Those of you who got hsbc (household bank) cards, was it instant? Did you get the 10-14 day response when applied online.

Tanya

aces67

11-10-2009, 02:29 PM

I have a question for you guys. Dh and I have both applied for a Cap One card and a household bank card. We have the same things on our credit report. We filed Ch 7 jointly and were discharged jointly. The only difference? He has a job and I'm a stay at home mom.

He got approved with Cap One and HSBC with no problem. I used his income where it asks for other income and I got denied on both. The reason? They say b/c I recently filed BK. So since I don't work will I never get my own credit? We did reaffirm our mortgage and that reports positively on my credit and dh added me to his Cap One card and that reports on my credit also.

jadams

11-10-2009, 03:39 PM

Those of you who got hsbc (household bank) cards, was it instant? Did you get the 10-14 day response when applied online.

Tanya

Go back to the HSBC site and check your application status.

I got the 10-14 days, but when I checked it just a few minutes later it reflected an approval.

Many people also get this when they need to answer some ID questions before it can be approved.

Good luck.

treed

11-21-2009, 11:42 PM

I have Cap 1 included in my BK and they denied me. I am almost 3 years out of BK and cannot get a decent limit. I travel for business and its killing me to have such low limits... Since I had an Cap1 and HSBC on my BK seems like I have no options...

SPalin

11-22-2009, 08:19 AM

I'm probably in the same boat as I have included 3 Cap 1's in bk! No HSBC, but I don't really like dealing with that company from past experience. Have you thought of a secure card like at BofA that converts over to an unsecured card after 9 months? or a CU credit card, that would probably be your best bet, usually low interest rates and little or no fees! If the CU turns you down you can appeal the denial to the loan/credit board of the CU and either appear in person or send a letter to support your case.

treed

11-22-2009, 02:03 PM

Well, I have some unsecured cards... just really low limits. Are you sure BOFA turns into an unsecured after 9 months?

filingsoon

12-19-2009, 10:16 AM

Question, what does one do when they included HSBC and Cap One in their BK?

I will discharge later this month, and I really need a CC to cover my car rental deposits when travelling. Hotels are easy to cover using my debit card, but some of the car rental companies want to pull a credit report if you use a debit and I want to avoid that.

If I can't find a reasonable one, I did see BofA is offering a secured card with only a $39 annual fee so I may have no choice but to apply for that one.

Does anyone have any experience with BofA's secured card?

SPalin

12-19-2009, 11:37 AM

A coworker has the BofA secured card, but you'll be turned down unless you have at least a year since your discharge date! Since you will discharged this month (congrats!) looks like the soonest you could apply would be late December 2010 or January 2011.
I know exactly what you mean to having a card for business travel, lucky the AmEx issued by my work was zero balanced and doesn't show on any of my credit reports so was not included in my bk. But, I'm sure it will just be a matter of time before they close it? It is now taking over a month to get my travel claim processed, so not only have I had to take 15% pay cut, but I'm now floating my business expenses. Well, it could be much worst, so I'll shut-up now. I think I'll be applying for the BestBuy rewards card (HSBC) after my discharge even though I'm not thrilled with HSBC, I guess I cannot be to picky. I'll still have my student loan, maybe Bloomingdale's and Nordstrom store cards if they survive and the AmEx, so I do need a visa or m/c. You might try a CU as they are usually understanding, but mine doesn't offer secured, so I'll have to wait 12 months or so.

viking64

12-19-2009, 11:57 AM

I found a recommendation on this forum for Digital Federal Credit Union. Apparently membership is easy to come by if you join specified non-profits for as little as $25-50 member fee.

http://www.dcu.org/loans_visa/visa_index.html

They have a secured Visa or Mastercard, with credit limit equivalent to the amount on deposit in a secured account or CD.

Not sure how long you need to be post-discharge, but I'm in the same boat and want to try that.

I've also heard that Alamo is easier to rent from than some of the others with a debit card.

It might be worth calling Digital to mention you want to use their secured visa to build credit and ask how long post-discharge you need to be. I'll be trying about 4 months after discharge.

filingsoon

12-19-2009, 12:12 PM

viking64

12-19-2009, 12:31 PM

Thanks for finding that. That's a bummer. I was wondering if there was a limitation.

What about an Orchard secured card? That should work pretty much the same way, even if the terms are less favorable.

viking64

12-19-2009, 12:36 PM

Sounds great, but I don't live in the states they service.

in case someone does:

The services offered within this site are offered exclusively through our U.S. registered representatives. LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with residents of the following states: MA, NH, RI, GA, CO, and CT.

Here's the full disclaimer:

Securities, advisory services, and insurance products are offered by LPL Financial and its affiliates, a Registered Investment Advisor, Member FINRA/SIPC. DCU and DCU Financial are not registered broker/dealers, nor are they affiliated with LPL Financial. The DCU Financial site is designed for U.S. residents only. The services offered within this site are offered exclusively through our U.S. registered representatives. LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with residents of the following states: MA, NH, RI, GA, CO, and CT.

It may refer only to the securities/advisory/ and insurance products offered through LPL financial - not the standard banking services offered through DCU. The email referenced in the disclaimer is for the financial arm, and isn't a general email address for dcu.

I am sending the main site an email to see what their residency requirements are.

jadams

12-19-2009, 01:45 PM

filingsoon

12-19-2009, 03:21 PM

Oh, my misunderstanding. I also found Public Savings Bank Secured Visa on Credit Karma, they only charge a $79 fee, one time only, no ongoing fees and they haved a 25 day grace period for purchases. The only drawback I see is that your deposit which holds the secured credit line doesn't earn interest, but at today's rates who cares as long as they don't charge any additional fees.

I think I might apply for that one and go with a secured card since it might be best for me right now. I can always close it later after I can get an unsecured card. The minimum initial deposit is $200 and to $1500 plus they make you pay the $79 fee upfront when you open your account so all of your deposit is on your credit line immediately (I'm shooting for $750-1000 to cover rental car and hotel deposits.)

The only bad thing this card NEVER converts to an unsecured card, but it does seem to have less fees than all of the other ones I've researched so far.

If anyone has a card from them I would like to hear any feedback before I open an account with them (not until Jan or Feb.)

Thanks!

viking64

12-20-2009, 01:29 PM

I asked if they accepted members from New Jersey and information about the secured visa. This was their reply. By the way, kudos to them for getting an email in MA on Saturday and answering on Sunday, in a blizzard for them, no less.

Dear xxxxx,

Thank you for your email regarding DCU Membership.

My name is xxxxxx and it is my pleasure to assist you this morning. I am
very happy to learn that you are considering a DCU Membership. In
order to become a member of DCU, there are certain eligibility
requirements. You can find a list of the ways in which you can become a
DCU member by choosing the Join DCU link on the top, left hand side of
our homepage. Here, you will find the applications that you will need
for membership, along with the required identification documents. There
are no minimum balance requirements, but many new members do make an
initial deposit of $25.00. Also, if you are interested in obtaining a
DCU Secured Visa card, you can apply for the card by calling us at
800/328/8797 option #3. Upon approval of the card and your DCU
membership being opened, the Visa will then be opened within your
membership.

Again, thank you for considering DCU! If I can be of any further
assistance in regards to this or any of our products and services,
please let me know. It will be my pleasure to assist you in any way I
can.

Happy Holidays!

Sincerely,

xxxxxx
Information Center Specialist
Digital Federal Credit Union

filingsoon

12-21-2009, 06:38 AM

Well, I guess I will donate to one of the organizations so I can get the DCU membership. I did notice a couple of them start at $15 and they look like they support good causes.

Thank you for all the information, I just love this forum.

NotFun

12-29-2009, 12:09 PM

any new credit card companies since the credit crunch?? I'm starting to peek around, and I don't see much out there.

g0m0

02-22-2010, 12:11 AM

moneytrouble

02-23-2010, 05:58 AM

Orchard Bank denied me a credit card. It has been 8 months since bankruptcy and I have saved a ton of money. My credit rating is still below 60. I am not sure how people are getting credit. Bankruptcy is truly a fresh start for me. I feel like I am 18 again, when my father had to co-sign for a 2000 dollar car loan.

rose1

02-25-2010, 04:54 AM

How soon after you file for a Chapter 13 should you try to rebuild credit?

Immediately! Try capital one, orchard bank. Also, first premier will approve anyone but thats because their fees are off the wall. I'd make them my last resort. If all else fails, apply for an orchard bank secured card. You'll get promoted to an unsecured card from them after a year or so after good payment history.

rose1

02-25-2010, 04:55 AM

g0m0

02-25-2010, 04:21 PM

We have not tried to obtain credit since we filed on 2/22/09. 341 Mtg scheduled for 3/22/09. I just thought that the trustee would not allow us to have credit until we finished all payments in the Chapter 13.

ndawg27

02-28-2010, 03:01 AM

Three months after my discharge I applied for a Credit One (300), First Premiere (300), and Capital One (500). After a year, all the credit limits were raised (most notably, Capital One got up to (1500). After a year, I got approved for a Household HSBC card (500) and a Kays Jewelers Card (1200). I BK'd HSBC so I was suprised I got the Household HSBC card. Credit score 670 and paying the balances off totally each month.

I am still getting denied for Amex and Chase (as I have bk'd on accounts from them) but the credit I have now is sufficient.

LAKERHIGH

03-04-2010, 11:14 AM

It will be 2 years since I filed and I have not applied for any cards. I think it is time. What's the best route for me? Thanks

SPalin

03-05-2010, 01:01 PM

If your out 2 years from discharge I would try Cap1, or HSBC. How does your credit report look like, is it reporting correctly and are your FICO scores over 660... then try Chase or Citi. Not having any inquires for the pass two years helps as long as your reports are correct!

dell1972

03-06-2010, 04:17 PM

mermaids614

03-09-2010, 10:50 AM

I don't like Orchard Bank, First Premier, Aspire, Centennial or any credit cards like those. Usually all start with $250-$300 limit and when you initially get the card, there's only like $50.00 available on the card, yet you have to pay the bills for the charges. Then the monthly fees. These will just dig people into a deeper hole. I'd rather just get an unsecured card with a credit union or bank. That's what my friend did. She started with $500.00 down on the card, and just added more money every couple months to up her limit. That was the best way to go for her, and I plan to do the same. Beats paying all those fees the previously mentioned cards charge. I'd rather live without a credit card than to use those. Capital One is probably the only one I would consider, as they do usually approve you for $500 and the entire credit limit is available when you get the card.

jennordhavn

03-10-2010, 09:08 AM

whipster1

03-11-2010, 04:37 PM

I just got discharge, I was wondering how soon can I apply for a credit card. I have a credit union which have their own credit card, would that be a good thing to apply for, also have anyone apply for airline credit card like Citi Advantage Master Card? Thanks!

CU's are usually very conservative, you may want to start with a secured card from them if they will go for it. The big boys (citi, BofA, etc) will not give you credit right after discharge. Try HSBC or Cap 1 and see what happens.

Good luck!