Some really good "BK friendly" credit cards...

[jp2861]

HHM - not sure that last statement is accurate, at least not for everyone. Sure, you take a hit for # of inquiries and for recently opened credit accounts, but this effect drops significantly within the first year.


There are other credit improvement sites out there that would disagree with you. In fact, a moderator at one of the well known sites just recently opened a handful of cards putting her over the 4-5 # and she is back to the score she had before these applications were made (Feb 08).

It also depends on what the credit limits are.
Having numerous cards with lower credit limits won't be as neagtive as the same number of cards with high limits.

[cali girl]

I was declined by Hooters too, but maybe it's because I only put that I visit them 7 times a month(which was a lie anyway) hehe.

LMAO!! Well, maybe, just maybe, if you had a Hooters card, you would visit more often! Right? Nahhhh...

[jdmc1973]

yeah, that's the exact and only reason I was denied for walmart, revolution card, and pottery barn.

[jal1129]

I am a year out of bk and have been declined by both target and hooters. I have a car loan thru GMAC and a visa reporting. I have heard for both target and hooters you need to have more than 1 cc reporting on time payments for several months. of course I did'nt find that out until after I applied. Both put reason for denial- bankruptcy.

[jdmc1973]

I was declined by Hooters too, but maybe it's because I only put that I visit them 7 times a month(which was a lie anyway) hehe. However, I did get an Orchard card, HSBC Best Buy MC and HSBC Direct Rewards Discover. Though I haven't received the last two in the mail yet, I may decline the Discover one if they don't bump the limit up when I activate it. We'll see!!

[cali girl]

I can't stand secured cards, and firmly believe that if you can wait to clean up your credit reports and raise your scores, it won't be too hard to get an unsecured card. We were declined by Hooters, but I was able to qualify for a Cap1 Platinum Visa ($300 opening limit), and just this week approved for an HSBC Mastercard. Don't yet know the limit on that one but everyone else here started out between $700 and $2500!

Good luck! I think the best way to go is Capital One, Orchard Bank or HSBC directly.

[HHM]

HHM - not sure that last statement is accurate, at least not for everyone. Sure, you take a hit for # of inquiries and for recently opened credit accounts, but this effect drops significantly within the first year.


There are other credit improvement sites out there that would disagree with you. In fact, a moderator at one of the well known sites just recently opened a handful of cards putting her over the 4-5 # and she is back to the score she had before these applications were made (Feb 08).

Ok...but I am basing my advice on a recent study that found that most people with credit scores of over 800 have less than 5, general unsecured trade-lines. (along with other factors).

It's not that having more than 5-6 general unsecured trade lines is detrimental per se, but it is limiting.

[jetset]

Take it easy there jetset. You are pushing the limits on how many general unsecured trade lines you should have and still be beneficial to your score. Generally, you should have no more than 4-5 general unsecured trade lines (i.e. credit cards), if you have more than that, you can start negatively effecting your score.

Well, my credit utilization is around 23%, and thats because of a rental car that's on my Capital One at 0% from my vacation last month.

I'm satisfied with my credit card companies not to need to find any new ones - I would though, like to cancel all but the two capital ones and juniper itunes visa. I do not use the target, and I'm sick of dealing with orchard.

I'm weary of canceling these accounts now, as it will negatively impact my fico.

I don't think having them open will affect my score, as long as I keep my utilization of the accounts low.

[Boscoe]

HHM - not sure that last statement is accurate, at least not for everyone. Sure, you take a hit for # of inquiries and for recently opened credit accounts, but this effect drops significantly within the first year.


There are other credit improvement sites out there that would disagree with you. In fact, a moderator at one of the well known sites just recently opened a handful of cards putting her over the 4-5 # and she is back to the score she had before these applications were made (Feb 08).

[HHM]

Take it easy there jetset. You are pushing the limits on how many general unsecured trade lines you should have and still be beneficial to your score. Generally, you should have no more than 4-5 general unsecured trade lines (i.e. credit cards), if you have more than that, you can start negatively effecting your score.

[jetset]

Here is the order of my credit card approvals since discharge, with their starting limit and their current limit

D/C August 2006
Oct 2006 First Premier, $200, now closed
Nov 2006 Orchard Bank $300-400-600-1100, Open
Mar 2007 Capital One $300-500-1000, Open
Sep 2007 Juniper Itunes Visa $250, Open
Nov 2007 Target $200.00 (not the visa) Open
Jan 2008 Capital One Visa, $2000, Open

I also have a Dell account with a credit line of 1500.00 - but I'm waiting for the next same as cash promotion. I missed the last one.

I've heard a lot of nasty things about Juniper - but they have always been real helpful and nice on the phone. Capital One is also great, I've never had a problem with them.

jetset

[wayne-o]

yes I thought it odd too....but I decided to let sleeping dogs lie.....hehe

[Cassiopeia]

I got an Orchard Secured first, then a walmart card. Orchard had an annual fee, but they never charged it. Used them both, paid in full each month and 3 months later got a pre-approved WAMU with 0% apr for 8 months and no fee.

That's odd about Orchard never charging you the fee. I got Orchard and they put the fee upfront on my first statement. $39, IIRC.

[wayne-o]

I got an Orchard Secured first, then a walmart card. Orchard had an annual fee, but they never charged it. Used them both, paid in full each month and 3 months later got a pre-approved WAMU with 0% apr for 8 months and no fee.

[magyar123]

Orchard, Household are about the easiest to get - but they both impose annual fees, and are real cheapskates when it comes to limit increases.
But - they are both within the HSBC family of cards - and the big daddy -HSBC - might offer you a card with a much larger CL than the two punks (Orchard, Household) IF you treat the punks good/timely payments, etc.
One year after faithfully paying my Orchard card, the big daddy offered me a MC with a starting limit of $2500 - which 6 months later was increased to $4500.