Recommended Credit Cards

[jennordhavn]

OK, curiosity killed my kids cat. I applied at CAP 1. Here is what the approval said ( copied from the screen) Well, that enough to pay for my conference and hotel.

Credit Limit:$500.00
Purchase APR: 0% until March 2010. After March 2010, A variable rate, currently equal to 19.8% Transfer APR: A variable rate, currently equal to 19.8%

No, I did not BK Cap 1. I have never liked them. So.. maybe I can benefit from them.

Congrats! I got the 7-10 day message with Cap 1 and then I got an email today saying my card was mailed. So I have no idea what the limit or APR is (I think when I applied it said 14.99%). I did BK a Cap 1 account and my discharge was in March.

[Exinobel102]

I want to try Household after a few months of faithful payment on the Orchard Bank Account. I was looking at their Int rates and they are not actually too bad. They are also backed by HSBC, which ironically I BK'd on but they seem to be BK freindly. Household's approval criteria seems to be similar to Orchard's. They pre approved me for the Household Platinum through their soft hit application on their website, but Im not going to apply anytime soon. I don't want too many inquiries post discharge. My efforts are going to go towards cleaning up my credit reports. Exp and Equi are correct for the most part, with one or two accounts lingering that were included in my petition, shouldn't be too hard to correct, though my transunion report is a total mess. There is a twenty point differnce in my score formt he other to bureaus and I keep on reading that they are the hardest to work with. So I guess Im just goingt o roll up my sleeves and dive right into the dirty work...lol. I keep on hearing that people are getting approved for Cap 1, but are people reading the terms and disclosurs for these cards. Theri "Low int" credit cards all have an int rate of 22%. No Thank You, goos to know that they black listed me...lol

[RainMoM]

Well my discharge is not set until Sept 23 2009 and just got approved for the orchard bank gold card. I know that you are not supposed to apply for credit while in bankruptcy, but my finger slipped over the mouse....oh well....even though I have a low limit of $300.00, I plan on making small purchases such as gas and lunch here in there. The interest rate is not at nosebleed rates and their approval criteria is somewhat lax compared to other credit card issuers. I want to get my credit score to atlease 620 in the next few months. My credit score currently stands as 600 Exp, 606 Equi and 587 Trans.

your finger slipped ?

[Exinobel102]

Well my discharge is not set until Sept 23 2009 and just got approved for the orchard bank gold card. I know that you are not supposed to apply for credit while in bankruptcy, but my finger slipped over the mouse....oh well....even though I have a low limit of $300.00, I plan on making small purchases such as gas and lunch here in there. The interest rate is not at nosebleed rates and their approval criteria is somewhat lax compared to other credit card issuers. I want to get my credit score to atlease 620 in the next few months. My credit score currently stands as 600 Exp, 606 Equi and 587 Trans.

[music12]

hmmmm, HHM is usually more polite. i would say he must have just had a bad day and took it out, unfairly, on a forum member. it's not like him, but we are all human. i hope he is ok by now.

[Mi Bankruptcy]

I didn't see anything. I will take a look at the paper work when it arrives. I received an offer from first premier and the really sock the fees in. By the time I would get a card and all their little fees I would have $74.00 left on the card.. What a joke..

[jadams]

Did it mention anything about "Credit Steps"?

It's a common thing on the lower-end Capital One cards. Sort of guaranteed line increases if you behave.

After 3 months of on time payments, under limit, etc. you would usually go to $1000. After a total of 6 months you could get another increase to be at $1500.

The "Credit Steps" cards don't frequently grow much beyond the last step, but $1500 should be a good amount for infrequent business travel. But low enough that you can't get into too much trouble.

[Mi Bankruptcy]

OK, curiosity killed my kids cat. I applied at CAP 1. Here is what the approval said ( copied from the screen) Well, that enough to pay for my conference and hotel.

Credit Limit:$500.00
Purchase APR: 0% until March 2010. After March 2010, A variable rate, currently equal to 19.8% Transfer APR: A variable rate, currently equal to 19.8%

No, I did not BK Cap 1. I have never liked them. So.. maybe I can benefit from them.

[Mi Bankruptcy]

OK, I need to get a credit card for business travel. I really don't want one. I pulled my credit report and checked my FICO. I have a 633. Is the best place to apply to is Capitol One? I really don't want a credit card but right after bankruptcy I went on a business trip and they put a hold on $250.00 of my money because I used my debit card.

I filed CH 7 Nov08 and was discharged in April09. Kept two cars and home. Any thoughts?

[ndawg27]

Wow, HHM seems really angry... I think he needs to explore that and not transfer that anger on to others. I applied 25 days out of my BK and got approved for a Capital One and First Premiere. The advise to wait is the best. Try again for a Cap One because they have no annual fees. Capital One is also really BK friendly so just wait another 90 days and reapply. I had my card since February and they just raised my credit limit to 1500, woo hoo!

[oldhack]

deleted duplicate post

[oldhack]

I was shocked myself and didn't even notice it was a moderator.
That was UNNECESSARY and harsh!

I disagree. Best we ALL realize that credit isn't an entitlement, but a privilege. And almost ALL of us here have abused that privilege, at least in the eyes of lenders! Because, to them -- and you can understand their point of view if you think about it -- that's what bankruptcy is: creditor abuse!
In no way am I suggesting that all of us who've decided that bankruptcy was a wise business decision for ourselves are fiscal deadbeats. I know I'm not -- I've always paid what I could to whom I could (my unsecured got 80% in a recently discharged Chapter 13, and GMAC -- one of those crammed-down creditors -- just approved a 7.94% to me for a car!). But, I also realize that I've cost my creditors money they were legally entitled to expect. I'm thankful when they give me another chance, and understanding when they don't.
I fear those who don't realize their status with creditors are headed down the same, damned road again.

[Stilltheone]

I have to say we got several credit cards within 30 days of discharge...2 Orchard Banks, 2 Targets, 2 Best Buys, 2 Hooters and 2 Capital Ones.

BUT, I think that was before the "credit crisis" hit and banks were still freely lending....now, not so much.

Lately, it seems like it takes time to rebuild. I wish you the best of luck and keep pluggin' away.

[jojo]

W~O~W!!! Have to say.........I'm surprised by such a response. Especially from a moderator! The poster wasn't even asking for a response. S/He was simply sharing their experience.

I was shocked myself and didn't even notice it was a moderator.
That was UNNECESSARY and harsh!

[BassBoy]

Time is the best healer after a BK, so it is better for you to wait before you rack up too many inquiries.

And keep in mind.......the CC regulations are going to change and it may be harder to obtain new credit after a BK.

In any case, you got one approval, so start with that.

The road to rebuilding my credit hasn't been easy since my discharge in July 2009 Chapter 7. I had been reading these threads trying to figure out what credit card companies were BK Friendly LOL.... I quickly discovered that everybody's situation is different. I applied for Capital One, Best Buy Store Card, First Pemier Bank, Apple Visa Card... Nothing..I don't want or need any of these cards but I would like to start rebuilding my credit you know the whole fresh start thing. Every one of those companies came back with secured cc offers.

Applied for Credit One Bank.... 1-2-3 Approved for a visa with a $200.00 limit. Not much... But I don't plan on using it The annual fee is $59.00 they bill it on the first billing cycle. Give it a try... If you are trying to rebuild your credit.