Can i get a update please ~

[RainMoM]

I have been reading the stickys alot here lately, but I've noticed that alot of them are out of date.. Now I'm not asking for all of them to be updated, but could someone help me understand how to rebuild my fico score, and maybe what I'm looking at if i ever wanted to buy a car again someday ? After I'm finished with my bk, the only two things that i will be paying on is my cars.. I"m renting so, that won't count.. What's the best thing for me to do to get that fico score back up ? Right now I'm at 490 something

thank you

[Flamingo]

Time is your friend after BK discharge. Pay anything you have on time and never be late (utilities included). Do not apply for too much credit at once because you will get denied and the hard inquiries do not look good on your credit reports so soon after filing, stay there for two years and bring down your score. You may just have to bide your time and be careful about applying for credit for a while so your scores can graduallly improve. Try Orchard Bank as a start. Unfortunately, you will have to deal with that BK on your records for a while and you will get denials due to that and it can haunt you when you least expect it so be prepared.

Best of luck to you!

[RainMoM]

I've had an account with Orchard Bank before, so don't think i can use them, are there any others out there to try ? So in other words, don't apply for credit for at lest two years ?

[cupcake]

Have you considered applying for a secured credit card?

[RainMoM]

Yes I have... just not sure which is one of the better one's out there ?? I know all I'm concerned about is to having them report to all 3 credit reports..

[aces67]

Dh applied with Capital One last week and we received the card on Saturday. It's unsecured. It only has a $300 limit to start but we have to start somewhere.

[RainMoM]

Dh applied with Capital One last week and we received the card on Saturday. It's unsecured. It only has a $300 limit to start but we have to start somewhere.

Congrats on your card.. I hate to say it but Capital one is included in my bk

any other sugestions ?

[okiebk09]

Try HSBC. I got one for $300 unsecured. I am using it responsibly now to build my credit. Plus we are starting to do traveling with child's sports out of state and it is great to reserve a room with. As soon as I charge on it and the item posts to the account I pay the amount in full that day. Plus i earn 2% back on all purchases. There is a $59 annual fee but that is ok. I am trying to make charges and pay them often enough that the 2% cash back will equal the annual fee. Go to www.hsbccreditcards.com.

[downsized]

I'd try Capitol One before Orchard. The terms are better with Capitol One.

We included Cap 1 in our BK. It was a joint acct. Just discharged this month. Dh has a contract job coming up that requires car rental. Hard to do with no credit card, so I applied to see what would happen. I was instantly approved for $1000 with $19 annual fee and 17% interest. We then applied for dh, too, since he's actually the one who needs the card. He was denied. I think probably because he was maybe the primary acct holder....not sure. The response was denied but to try again in 45 days. I think if I were you, even though you BK'd Capitol One, wait for a few months post discharge and try them first if you want an unsecured card.

[lifeistough]

I know when I told Capital One that I filed BK they were very nice and took my case number etc, and said that they look forward to working with us in the future for our credit needs.

We will see if they ever offer us another card. We had a personal card and a business card with them and both accounts had been opened for 10-15 years, so they definately got plenty of money out of us over the years, and we had never been late on a payment with them either, so they probably love people like us. I just thought it was kinda funny that they were so nice about it.

However, we will not get caught in the credit trap again. We haven't used a credit card for 2 months, and I must say that it really gives you a feeling of freedom knowing that you can control your spending. if you can't pay for it today, then wait for tomorrow, or else you will be paying for it for 30 years, ha ha!

Good luck to everyone We have our 341 on 9/30/09. Hoping for a positive experience.