Recommended Credit Cards

[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.

[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...

[Mark80]

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

[startingovr]

I included Capital One in my BK (albeit with a 0 balance) and they closed the account when I filed. My BK closed in October and I just applied with Capital One again and got a card with a $1000 credit line.

[realm187]

You people tell all this stuff about all these great ways to rebuild credit with being approved for cards. You people must have had great credit prior to BK because absolutely none of them companies will approve me. Either yall are lucky or just full of crap.

[Amy26]

I'm only full of crap right before I use the restroom.

[startingovr]

Nice one Amy! LOL

Realm, my credit score pre-BK was probably around 720-ish. 1 week after discharge it was around 630-ish. That is what the dealership told me when I went to buy a car. When he pulled my credit he about fell out of his chair. I guess he was expecting something disastrous. I had to put $1000 down but I wasn't complaining.

[BankruptinNJ]

You people tell all this stuff about all these great ways to rebuild credit with being approved for cards. You people must have had great credit prior to BK because absolutely none of them companies will approve me. Either yall are lucky or just full of crap.

How many cards have you applied for and how often? It looks really bad to apply for a lot of cards at once. Once, when I still had great credit I applied for 3 credit cards in one month, was approved for all 3, and my credit score dropped 70 points and never fully recovered! If you apply for cards and are rejected, wait several months before applying again.

Use your debit card in the meantime. It's one of the greatest inventions of the last 30 years.

[damooster]

I applied for a Hooters Master Card four days ago and just received it in the mail. Scores in low 600's.

[mstomica]

YAy!




I got my card in the mail for HSBC $ 320...worth a start!
I applied for Cap 1 and was denied, however, I was approved for the Secured card....

[prettyobk]

Capital One sent me a letter with the info on the Rewards MC with all the APR and annual fee info. The letters says a credit decision will be forwarded shortly. So does that mean I'm getting it??

[mermaids614]

predischarge

I am not set to discharge for another 3 weeks. I applied for HSBC Orchard Bank Visa about 2 weeks ago and got approved for $320.00! I'm surprised. I had to pay $19.00 processing fee up front for the card. I still have not received it yet. I was also approved for the BestBuy Rewards MasterCard thanks to this thread. It was only for $100.00 with no annual fee. I plan to apply for a Capital One card about 5 or 6 months post discharge and after I get my credit reports in order. I'm just grateful I got approved for something!

[StartingOver08]

It is not a good idea to apply for credit cards during your bankruptcy. Better to wait until you are discharged.

[mermaids614]

It is not a good idea to apply for credit cards during your bankruptcy. Better to wait until you are discharged.

Well, it's already done........I won't apply for any more but my attorney told me when I converted that I could go ahead and try to buy a car before discharge. I didn't but he said I could.

[pris72]

Me and my husband both just got approved through capitalone for mastercards. $300 limit to start, but there is NO fees each month or once a yr. Also we are at 0% apr until June 2011.
Our chapter 7 was only discharged this past week.
Hope that helps.
Do not go through first premier, aspire visa or any of those who give you a $200 limit to start. Immediately $150 of that $200 is charged for their high fees. I would wait until you can get approved through a major card holder like we did.