Need a good credit card for rebuilding.

[spid77]

I know there is a sticky about this topic, and I'm really sorry about starting a new topic. I went through every page of the sticky and its alot of flaming. I couldn't really figure out if people were recommending or not recommending certain cards. I need an unsecured card. Any advice ? Thanks.

spid77

[pa308]

Capital One seems to be a good card for rebuilding....Int rate is not great, but after bk7 great wont come around for a while....

[AngelinaCat]

Other than needing it for renting a car, why not learn to go 'cash only'? It is painful, but can be done.

[Mi Bankruptcy]

I filed in NOV and closed in March. I got my first CAP 1 card in Sept. I needed one for hotel after I used debit card for while traveling and the hotel put a hold on $300.00 for "potential costs". Which made me mad because my employer was covering the hotel and I was responsible for "incidentals"..

[liz417]

I tried those 'pre-approved' offers at both Orchards and -------(ugh, can't remember the name right now!), but all they offered me was secured cards. I tried Capital One and was approved for an unsecured card with a $500 limit about two weeks after I was discharged I applied for my hubby and he was approved for a card with a $1000 limit There was an annual fee, but the interest rate wasn't too bad . That's all we need, we charge little things and pay the bill right away.

[cupcake]

Capital One and/or Hooters are most likely your best unsecured options. Otherwise, try a credit union.

[anime-chicka]

Definitely Cap One. I tried for HSBC, but they denied me due to the bankruptcy. I've seen where people who've included them have gotten HSBC again, but I think it depends on whether or not you paid them or not before filing. For me, I had deferred payments and never did pay on the laptop I bought through HP.

The one thing about Cap One that's slightly annoying - once you get in with them, they'll keep sending you offers. I had to finally call to get them to stop, since I didn't need another card. I did find out I could apply for a second different card if I wanted. I declined, but I am considering switching the card I do have to a rewards card.

[ChaseDidThis]

I needed a credit card for business travel, car rentals, hotels, etc. Otherwise i want to stay cash only so about 2 weeks after discharge i got a couple offers, 1 from cap1 unsecured with a $39.00 annual fee, and 1 from hsbc unsecured with no annual fee. I applied online to hsbc seeing they offered no annual fee and they gave me $1000 limit with something like a 16% interest rate. I really don't care what the interest rate is as I don't plan on carrying a balance, I think Cat is right, better to stay cash only, just needed this for travel expenses. I'm now working on saving an emergency fund, I want to use cash for emergencies, not Credit.

[nevergiveup]

Won't help in the long run

Other than needing it for renting a car, why not learn to go 'cash only'? It is painful, but can be done.

We were cash only--even opened and conducted a business with savings and only trade lines of credit. (That is: you get the supplies and pay it off 30/60/90.)

For years and years.

If we needed equipment we saved for it and purchased used when we could afford it. Same thing for cars, clothes, etc.

When we finally needed credit because we wanted to buy a house, we discovered we had no credit score at all! It was like we didn't exist.

People react to you very strangely when you have no score at all, not even a bad one!

The good part is we have no debt, but now we have to start from scratch, like newly weds, to build up credit. I can't even get a Kohl's card. I don't need it, just want to build up my score!

Be smart and don't depend on credit, but use it as a tool to provide what you need for your future.

[CCsAreEvil]

The whole credit scoring system is corrupt.

[SocalBroke]

[Tom_Mi]

Business travel (if you get reimbursed quickly by your employer) is a good reason to have a small card. Don't pay too much attention to those saying "You don't need a card, just bury your money in a shoe.". I'm guessing they don't have work-related expenses.

My wife has a $500 CapOne. I'm getting a $500 Orchard Bank in a few days. I'll buy a couple things, pay them off, the probably not use the card again unless I travel.

[Amy26]

I can't get capital one to save my life but I have a Hooters card that I love and a best buy platinum visa from hsbc.

[LSUTiger32]

We were cash only--even opened and conducted a business with savings and only trade lines of credit. (That is: you get the supplies and pay it off 30/60/90.)

For years and years.

If we needed equipment we saved for it and purchased used when we could afford it. Same thing for cars, clothes, etc.

When we finally needed credit because we wanted to buy a house, we discovered we had no credit score at all! It was like we didn't exist.

People react to you very strangely when you have no score at all, not even a bad one!

The good part is we have no debt, but now we have to start from scratch, like newly weds, to build up credit. I can't even get a Kohl's card. I don't need it, just want to build up my score!

Be smart and don't depend on credit, but use it as a tool to provide what you need for your future.

How did you wind up in BK if you paid cash for everything? Also, people are morons so that's why they might react strangely to no credit score. All you needed was a lender who isn't moronic and does manual underwriting.

[LSUTiger32]

Business travel (if you get reimbursed quickly by your employer) is a good reason to have a small card. Don't pay too much attention to those saying "You don't need a card, just bury your money in a shoe.". I'm guessing they don't have work-related expenses.

My wife has a $500 CapOne. I'm getting a $500 Orchard Bank in a few days. I'll buy a couple things, pay them off, the probably not use the card again unless I travel.

That's the excuse you use for getting a credit card.....work related travel expenses? Funny thing is everyone takes CASH and just about everyone takes a debit card. If they don't soon, they will or they will fail.