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Where/How should we apply for credit card(s)?

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    Where/How should we apply for credit card(s)?

    Can I apply online? Or just wait until we receive mailers? How long should we expect to hear an answer? If I am offered a Target acct. after shopping, should I accept? I think I've seen the 'you are pre-approved' notes on the receipt.

    We hardly have any tradelines as we filed a Ch7 and was d/c on 2/14/07. We did not reaffirm our 2 new(er) cars (04 and 05) and plan on paying them off (please see my side note question below...). The last time I checked, one of the cars was still showing as current on the credit report. Creditors have said that's odd, as we did not reaffirm. I have spoken with the representative in the BK dept. with this car loan (Chase/Honda), so it's not like they do not know. How long before that will be updated as '0' balance/included in BK? The other car was showing '0'bal/included almost immediately (GMAC).

    So we are showing only 1 tradeline. Once the Chase (car) falls off, we'll have zero. We need to get a credit card or two going here, to get DH's 618 FICO score up. We'll eventually be looking to buy a home in a few years.

    As much as we'd like a bigger car, we might want to enjoy not having any car pymts in a few years. This leads to my question about the cars, I did some checking with Saturn recently and since we never reaffirmed, I was told we could simply drop off the car and then get a new car financed (but from our 0% to anywhere from 10-15%! ha ha..no way!!!!) I had no idea that one cannot trade in a vehicle if you did not reaffirm. Not a big deal, but just surprised that the financing co. doesn't look at what you've paid into the car. Of course, its the old 'it's junk' rule once it leaves the lot, so why would they want to pay anything when the loan isn't paid off......

    .....what can we expect once we pay off the cars? Will we easily get the titles? Or is there some red tape since we didn't reaffirm? They'll be paid off in 2/09 and 10/10.

    Back to the cc's. I read about the Christian Credit Co.......(and also flip side...) Hooter's.....and then Cap. One, WaMu....

    where should we apply? Or should one of us apply and be added as authorized users? Something tells me I should start with MY credit report as it's been 7 years since my discharge date (ch 7, d/c, back in 6/00..my name only). Then add my husband as and auth. user. The recent BK was in HIS NAME ONLY because of my yr. 2000 BK.

    Can it get anymore complicated!?


    #2
    quick note...

    I just applied for an Orchard m/c in my husbands name, because his credit score has been better than mine since I HAD let my student loans slide. I clicked on the $200 savings/SECURED card and we'll hear in 10-14 days. With his score being 618 and monthly income is good, we should be fine, right? Then should I have him add me as an auth. user?

    Another thing I found on this board is about renting FICO scores. WHAT IF...my father in law were to put my husband as an authorized user on his credit card? My FIL's FICO score is at the max (whatever that is). Would we have to have a card and use it? Or can he just be named on the card and have my husbands score helped out?

    So now that we are all caught up on bills and our reports are cleared, I feel confident in rebuilding my credit. The whole reason why I didn't open 1 card after my BK in 2000 was because I didn't want to bother with the fee's, etc. My husbands credit was decent until after we bought a house that sunk us in repairs. I had heard for 5 yrs. to rebuild my credit, but again, I just let it slide. So that's why my husbands score is higher. Going to check it out soon though, maybe mine will creep up faster, who knows!?

    Should I wait to hear from Orchard before applying for a Hooters card in my husbands name? Or should I try my name? Or should I try Target/Best Buy...a retail card???

    thanks!

    Comment


      #3
      Apply online.

      You're asking way too many questions at once. Start an individual thread for each main question, worded briefly enough that people have time to read it. You will get better responses this way.

      Comment


        #4
        Q: Which credit card?
        A: Whichever one offers the best deal... We received a "pre-approved" notice from Capital One about a week after discharge... we applied and got a card with no annual fee. Now I've been watching the offers that come in, any that have an annual feel get shredded... any that have no annual fee I look at for other "hooks". It's taken 4 months, but we just applied for a WaMu visa card as the terms were decent. If we get that one, that'll be all we apply for.

        We also pay off all balances at the end of the month and only use the cards for the credit history and safety.

        Q: cars kept but not reaffirmed.
        A: shouldn't be any problem getting your title. We did the same thing on our '04 XL Denali and our bank said that everything will proceed just exactly as it did prior to the bankruptcy as long as I don't miss any payments. They did warn that they cannot notify me if there's a problem with a payment or if I'm late or anything due to the bankruptcy and that the first that I'll hear that there's a problem will be when the car dissappears from the driveway. So beware and keep a watch on your payments!

        Good Luck!
        Filed Ch. 7 Pro-Se: 10/12/06
        341: 11/6/06 (went AMAZINGLY well!)
        Discharge: 1/12/07
        Closed:1/19/07

        Comment

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