HSBC Best Buy RZ MC approved $750 limit - 15 days after discharge

[wnguyen]

Just a little FYI people... Best Buy, Value City Furniture, ABC Warehouse, Dell Computer, and just about any jewelry store credit card are technically SECURED credit cards - meaning you are giving them permission to hold the goods you purchase as collateral until you've paid them off.

Best Buy and Bass & Associates have sent my lawyers twice asking for the reaffirm or surrender of stuff I bought from them years ago. I followed people's suggestions here and ignored them. I also had $5500 balance with Jared Jewelry but they never sent anything asking for their goods back, at least up to now.

[wnguyen]

Capital One has been known to approve those that bk'ed them. It sometimes takes several attempts though. Do a search on Capital One and you will see that some got approved post bk, even having bk'ed Capital One.

This is good news thanks school.

[FLPrincess]

Yeah I'm not thrilled about that, but I need to start somewhere. It's the cost of my past money mistakes, I have less choices.

[CCsAreEvil]

...there is a $59 annual fee.

*shudder* That's the reason why these lenders are willing to give us credit right away. It's the business model of these types of cards, for us "losers" :P

[FLPrincess]

Thanks for the tip, I applied for this and was approved, but there is a $59 annual fee.

[LaurieM]

Just a little FYI people... Best Buy, Value City Furniture, ABC Warehouse, Dell Computer, and just about any jewelry store credit card are technically SECURED credit cards - meaning you are giving them permission to hold the goods you purchase as collateral until you've paid them off.

[backtoschool]

I had $3K with Capital One and $10K with HSBC thru BestBuy in my bk. I don't think I'll dare to come back and apply again.

Capital One has been known to approve those that bk'ed them. It sometimes takes several attempts though. Do a search on Capital One and you will see that some got approved post bk, even having bk'ed Capital One.

[LSUTiger32]

people thank the lord that you didn't get approved. we all say we won't have a balance on it but eventually it gets out of hand and that 22% won't seem so enticing any more. Never felt so good using just cash. No debts to worry about.

Trust me when I tell you that it's a hopeless cause.

[wnguyen]

HSBC (think Orchard Bank) and Capital One are both BK friendly. Watch the fees and percentage rates and remember, the more credit you apply for too soon the worse it will be for you - a bunch of hard inquiries so shortly after discharge will line you up for a string of denials...those hard inquiries stay on your credit reports now for 2 years.

I had $3K with Capital One and $10K with HSBC thru BestBuy in my bk. I don't think I'll dare to come back and apply again.

[venus82]

How in the world did you get approved? I actually tried chase and they told me i have to wait a few years. I do have a capital one card but it's only a 300$ limit. Did i miss somthing.

I think you are missing the point of this thread - the Best Buy Rewards Zone credit card appears to be bankruptcy "friendly". Having been discharged doesn't prevent you from getting this credit card.

[nc73]

people thank the lord that you didn't get approved. we all say we won't have a balance on it but eventually it gets out of hand and that 22% won't seem so enticing any more. Never felt so good using just cash. No debts to worry about.

[pris72]

I can't remember if it was chase or citi bank that I tried, and one of the 1st things you have to check on is that you have not declared bankruptcy. After seeing that I did not even bother with the application, because that told me they are not BK friendly. I could be wrong, but I didn't apply due to seeing that at the top of the application.

[2004ep3hatch]

How in the world did you get approved? I actually tried chase and they told me i have to wait a few years. I do have a capital one card but it's only a 300$ limit. Did i miss somthing.

[venus82]

On Friday I used the link in the OP to apply for Best Buy Rewards credit card. Only 42 days since my Chap 7 discharge and with a FICO of 689 I was approved for $1,500 limit, 22.95 APR (not a factor as I will not be carrying a balance) and no AF. I was stunned considering I had a CC with HSBC that was included in my petition. Not sure if I should wait before applying for the Hooters card - any ideas?

Many thanks to the original poster!!

[digital]

I am aware of that which is why this is it for a while. As tempted as I am to do some kind of app-o-rama I today I know that would hurt me severely and not be worth it for a few more low limit/crap rate cards.

Thanks for looking out though, as you're right, the consequences would be horrible.