Recommended Credit Cards

[Mark80]

I held onto my capital one hoping for the same thing, but they closed it even with zero balance and perfect history.

[carbk]

On my BK I kept one credit card off the BK list: my Discover card. The credit limit was only $500 and I was never late. Always paid off every month. I was surprised that it wasn't close after I filed for BK. They didn't. So now, I am using that one to rebuild my credit.
What is the best way to watch how your credit gets rebuilt ?

Wow you got pretty luck that Discover didnt close your account...usually even if you don't owe anything as soon as you file BK all of the creditors on your credit report will get a letter to let them know of your bk and even if you don't owe them anything they will close your account...

[tess_bk]

Wow

That is pretty bad. My dad who has a lot of credit cards and great history has been getting letters from creditors saying they're reducing his limit, raising his interest rate, etc.

[financeguy]

On my BK I kept one credit card off the BK list: my Discover card. The credit limit was only $500 and I was never late. Always paid off every month. I was surprised that it wasn't close after I filed for BK. They didn't. So now, I am using that one to rebuild my credit.
What is the best way to watch how your credit gets rebuilt ?

[carbk]

Don't even bother. Amex wants good credit history. They have been closing accounts and
reducing credit lines.

Tanya

Yeah my mom who has pretty good credit just got a letter in the mail from Amex, they reduced her $5000 credit limit to $3783 or some odd number like that.....she just called them and told them to f-off pretty much.....she has excellent payment history, has never even gone near her credit limit and they do that to her - yes we understand the credit crisis but Amex has just gone too far. My cousin who also has good credit just got a letter from Amex stating that they are closing his Blue card - he didn't seem to care too much since he's got some other cards but I as far as I'm concerned I will never become an Amex customer again!

[tanya0525]

Does Amex blacklist you forever? Would applying for one and being turned down hurt my credit score? I'm trying to raise it. According to my rating on Transunion, my score (670) is only viewed as "fair". There are two derogatory marks in addition to the BK - small medical bills that I just forgot to pay and ended up in collections (total of the two together is less than $200). They were opened in mid-2006 and reported in early 2007.

Don't even bother. Amex wants good credit history. They have been closing accounts and
reducing credit lines.

Tanya

[tess_bk]

Amex Question

Does Amex blacklist you forever? Would applying for one and being turned down hurt my credit score? I'm trying to raise it. According to my rating on Transunion, my score (670) is only viewed as "fair". There are two derogatory marks in addition to the BK - small medical bills that I just forgot to pay and ended up in collections (total of the two together is less than $200). They were opened in mid-2006 and reported in early 2007.

[tanya0525]

I dunno about that... I bk'd capital one and they will not touch me. The reason I get is: deliquency with capital one. I don't even think they have checked my credit when they give me that reason.

I'm guessing its because I got a capital one card 3 months before I filed for bk and got rid of 1,500 dollars of debt.

I even have a preapproval offer for them when I go to their website, but then they still deny me. :/

Yep that is the same response that I got from Cap 1, Orchard, and Household bank.

Tanya

[SPalin]

Do the soft pull on Cap1 and/or Orchard and you might be surprised... I had a Cap1 denied after my discharged, they told me to reapply in 45 days and guess what $500 CL and $39 AF, I Bk'd 3 cards with them totaling $4,000, just give it sometime.

[Amy26]

Yea I've tried a few times first time was closer to my discharge date and last time was last month I believe.

[rose1]

I dunno about that... I bk'd capital one and they will not touch me. The reason I get is: delinquency with capital one. I don't even think they have checked my credit when they give me that reason.

I'm guessing its because I got a capital one card 3 months before I filed for bk and got rid of 1,500 dollars of debt.

I even have a preapproval offer for them when I go to their website, but then they still deny me. :/

They wrote off my $3000 balance in 2002 so maybe that's why. I vaguely remember that they did deny me because of the same reason: delinquency with capital one, but I applied a 2nd time 45 days later and was approved with a $500 limit.

[Amy26]

I dunno about that... I bk'd capital one and they will not touch me. The reason I get is: deliquency with capital one. I don't even think they have checked my credit when they give me that reason.

I'm guessing its because I got a capital one card 3 months before I filed for bk and got rid of 1,500 dollars of debt.

I even have a preapproval offer for them when I go to their website, but then they still deny me. :/

[rose1]

How many months after you were discharged did you apply?

6 months.

[blueking5]

Do not worry if you previously bk'd a company. I bk'd capital one and they still approved me. The only companies that blacklist you are American express and Discover. Apply for those cards even if you included them.

How many months after you were discharged did you apply?

[rose1]

My problem is all the cards that people suggest are ones from companies that were part of my bankruptcy.(Best Buy,Capital one, HSBC,First Premier). Orchard bank sends me emails for a card but since they are HSBC I don't even try. I did get a Hooters card with $500.00 so i guess ill have to use that to rebuild

Do not worry if you previously bk'd a company. I bk'd capital one and they still approved me. The only companies that blacklist you are American express and Discover. Apply for those cards even if you included them.