Dischage - two months ago and....

[Blue_Ray]

Hi,

My discharge was two months ago. Now I would like to establish my credit.

What is a good credit card to go for?

I really do not want to go out and buy a new car huge loans. I want to start off small. So I was thinking of getting a small limit credit card. Any suggestions on which one to apply for?

Thanks,
Ray

[Blue_Ray]

Hey guys; I just searched the forum. I went ahead and applied w/ HSBC. They gave me a $300 credit limit approved. Hey it's a start.

Time to establish. Many thanks again all.

[yoyoma51]

We were discharged on February 29th. I applied for a Cap One Mastercard last month and received a Platinum w/0% interest for 6 months...and a $3000 limit.

We also received a $1000 limit Visa from our credit union.

These are the only major cards we plan on carrying and I think we're off to a good start.

[2confused]

yoyoma,
did you receive offers from them and what is your fico like? so, you waited two months?

[whatamess]

I was disharged and closed back in November 07. Since then we have had a bunch of those pre approved pay out the rear offers. Then Capital One sent DH an offer for a 18%, 0% balnce transfers card for $200. After 3 months of payments the upped it to $500. Yesterday I got a WAMU in my name for $2,000!!! My scores are Experian 650, Equifax 581, Trans Union 582. My FICO accroding to WAMU is 608.
Capital one has been offering me car loans as well. I guess things are looking up.
Of COARSE we are paying OFF every month!!!
Hope that gives you some insight.
Ive heard Orchard was okay, but they wanted an annual fee and I aint paying one!
Ive heard to stay away from the other big guns for at least a few years after BK as they will say NO, and you will just be adding inquiries to your report.
WAM

[2confused]

Thank you...yes, the more advise, the merrier at this point (just passed objection stage)

[PaKettle]

I heard CAP ONE will not offer you credit if you filed against them. So I assume you who got Cap One credit did not file against them... right?

Blue Ray did you apply on the net, get an offer in the mail or ??

I have a $300 limit card that survived my bankruptcy and am using it to re-establish credit but would like to get one more. What I really need is something with $1000+ limit because I travel sometimes and need to rent a car in a foreign country and they require big deposits.

I don't even know what my score is right now.

Oh, by the way, I have heard from what I think are reliable sources that if you want to rebuild your credit you should not pay off in full each month, but rather carry 1/3 of your available balance as debt and make payments on that.

I'm kind of combining the methods: using my big $300 limit, I spend $300, then I pay off 2/3 of it within a month or two, then leave it there for a month, make minimum payment, then pay it off... then repeat that cycle... Hopefully this will work to make them offer me a larger limit in 6 months or so, OR get another company to make me an offer.

I am NOT going to pay fees to get a card! One co. sends me offers every week, trying to get me to pay something like $267 in fees for a $500 limit card plus high interest! I throw it right in the trash!