We got new credit in a second!! Unsecured! Wow

[LSUTiger32]

that's excellent to hear! i do know whether we want to or NOT we will be needing "credit" in the future. it's our society and that's just the way it has to be. i do want to buy this house one day as i have expressed and we will NEED a new car. so we don't have much choice in the matter...oh...unless we hit the lottery!

See my friend, this is where normal sucks. You DO have choice, you just are choosing another method. I am certainly not going to argue the house, most of us do and will need a mortgage to get a home. But the car, come on!!! You can buy a car that does not require a loan. You just have to choose to want to do it. What people on here can't seem to understand is that a car is determental to you getting a home in a lot of cases, especially if you do not have a large income. Let's say that you have $5,000 a month in income. You have $1,000 a month in credit card/school loans/installment debt/whatever. You look at a home with a payment of $1,250, which is a modest home of say around $175,000. Your ratios in that case are fairly decent 25/45 with the latter actually being on the borderline for some programs. Now, throw a $500 car payment in the mix. Your ratios are now 25/55 and you are DECLINED for a mortgage. The way that the culture in this country has us brainwashed over FICO scores and credit is amazing. They had me for quite a while, but I am cured!

[tobee43]

Cap One is bk friendly if you have stability with your job and were a good credit risk before you bk'ed. They are known for having a very detailed, very proprietary model for who they extend credit to, which is great for those of us that fit their model and want to rebuild.

that's excellent to hear! i do know whether we want to or NOT we will be needing "credit" in the future. it's our society and that's just the way it has to be. i do want to buy this house one day as i have expressed and we will NEED a new car. so we don't have much choice in the matter...oh...unless we hit the lottery!

[backtoschool]

Hi
Just to let you know I owed Cap one 6000 that ended up 8600 I think on my chpter 7 in Jan 2009. I stopped paying them 18mos b4 they sued me also and got a judgement. I also got a new card with them per offer in mail for 1000. No monthly fee , 39.00 annual fee, and nointerest until june 2011. They also sent me a 30,000 ck for car ( I did not cash of course) So I do not know what their logic is. They also have sent me a reward zone card offer . I guess they figure we can not file bkrptcy again for 8 yrs. I know I am not getting into the cc trap. I plan on paying for gas with it and paying off each month.

Cap One is bk friendly if you have stability with your job and were a good credit risk before you bk'ed. They are known for having a very detailed, very proprietary model for who they extend credit to, which is great for those of us that fit their model and want to rebuild.

[Floridagail]

Hi
Just to let you know I owed Cap one 6000 that ended up 8600 I think on my chpter 7 in Jan 2009. I stopped paying them 18mos b4 they sued me also and got a judgement. I also got a new card with them per offer in mail for 1000. No monthly fee , 39.00 annual fee, and nointerest until june 2011. They also sent me a 30,000 ck for car ( I did not cash of course) So I do not know what their logic is. They also have sent me a reward zone card offer . I guess they figure we can not file bkrptcy again for 8 yrs. I know I am not getting into the cc trap. I plan on paying for gas with it and paying off each month.

[backtoschool]

soy cappuccino....yummmmmm....i live on greek organic yogart...but the soy cappuccino sounds really good..i'm going to get me one of those the next time we are there. i have to go a long way to get fresh fish too...it's like we go hunting for food here...it's really hard! i'd rather starve then eat out here!

I am an avid Whole Foods shopper. I love organic Greek yogurt. People don't realize what yogurt is really supposed to taste like until they try the authentic Greek yogurt. It is nothing like the overprocessed chemical Dannon crap.

Whole Foods is more money, but in my opinion the quality of the food is much better.

[tobee43]

I love Capital One ! I got a 0% card for $1,000 limit, and $39 annual fee. They upped my limit to $1,500 after 3 months, and I also opened up an online savings with them. If I needed a car loan I would definitely go with them. Forget the secured cards.

yes, that's what we are hoping to do as well, when and IF the occasion arises...about the car.

[tobee43]

I use my cards almost exclusively online. I have used it to get a soy cappuccino at whole foods too though.

soy cappuccino....yummmmmm....i live on greek organic yogart...but the soy cappuccino sounds really good..i'm going to get me one of those the next time we are there. i have to go a long way to get fresh fish too...it's like we go hunting for food here...it's really hard! i'd rather starve then eat out here!

[denisec]

I love Capital One ! I got a 0% card for $1,000 limit, and $39 annual fee. They upped my limit to $1,500 after 3 months, and I also opened up an online savings with them. If I needed a car loan I would definitely go with them. Forget the secured cards.

[tobee43]

Wow, I could never. I handle all the finances, but would NEVER apply for something in my wife's name without her doing it. That's like fraud, I think! Besdies.....we do things together. We sail together and we sunk together. To me, there is no other way. The BK would have destroyed our marriage otherwise. There is a reason why money is the number one reason for divorce.

LOL!! after 40 years the banks wouldn't even know who one of us is.....we always do things "together" that's why we have been together for 40 years just some things I DO and SOME THINGS he does....it's just one of us can handle things better than the other...it's called sharing....although now that i think about it...he's not really a good sharer, however, i'm keeping him anyway.

yes...i commit fraud with him all the time, i sign his name on everything...yes...after 40 years one is usually never questioned...some spouses do not participle in financial things...it's just life. do i wish all the stress of it wasn't on me....of course... additionally, the type of work he did was extremely dangerous and senitive...one less thing for him to worry about. many times he would be out of the country for 4 months at a time for over 30 years ...so really it does depend on your relationship and your live style...not a control issue promise. if you have an excellent foundation then the house never falls.

we have never ever never ever fought about money in all the years we have been together. after all our bk had nothing to do with money mismanagement or overspending...it was me almost dying and him losing his job. not much to fight about. just support each other during hard times. and while one may be brilliant in one area, one may be completely empty in another...it's called give and take..i guess it's why we still even like each other after now..it's over 40 years...on mondays anyway.......besides he could never even remember where we bank or who has our mortgage...not his problem. mine.

[backtoschool]

Yeah, I remember having my credit line cut by AMEX ... It's crazy that some of these creditors have "high risk profiles" for one's spending habits -- you're definitely right. The best way to use a credit card is like a debit card with the "float," & pay off full balances each month.

I totally agree with you TurnThePage. It is always safe to go out to eat with the card and/or buy clothing or electronics as long as you pay the card off in full each month. Amex has the most aggressive modeling, but some of the other big companies model based on where you live and where you shop and what you buy with the card.

[TurnThePage]

Nowadays most of the major credit card companies model your purchasing behavior ....... The models consider putting everyday items such as groceries on a credit card as more "risky" behavior than buying clothing, or going out to dinner and using the credit card. If you want your limits to increase, etc. I would not put the groceries on the card, but would use the card for one or two small purchases each month and then pay it off right away when the expense hits your account. That is what I have done, and I am getting regular increases to my credit limits.

Yeah, I remember having my credit line cut by AMEX ... It's crazy that some of these creditors have "high risk profiles" for one's spending habits -- you're definitely right. The best way to use a credit card is like a debit card with the "float," & pay off full balances each month.

[LSUTiger32]

what give in...i never said they GAVE IN....LOL!!! just did it.....

however if this person ever went to cash their check at the bank the bank would most likely call someone because they would think they are fake...in some families one 1/2 of the team has a clue...and the other half has other wonderful clues about other nice things.....like picking up their own socks...let's say...LOL!!!!!!!!

but remember...we never filed bk because of poor money management or over charging. i do want to stress that..when we filed or right before our credit ratings were up in the 800's we never in 40 years were late or used cc's to buy luxury items etc. one of use got really sick...used up all our insurance....and then the other lost their job.

we had 200k worth of med bills when we filed....some of that was on cc's....but not a ONE flat screen tv or dinner!! LOL..

i get your point and it's well taken. i just want this house and a car if and WHEN we need it. and i WANT the choice...i'm only attempting to get ourselves back in a situation that WE have control and WE have the choice...NOT them.

thanks again!!

Wow, I could never. I handle all the finances, but would NEVER apply for something in my wife's name without her doing it. That's like fraud, I think! Besdies.....we do things together. We sail together and we sunk together. To me, there is no other way. The BK would have destroyed our marriage otherwise. There is a reason why money is the number one reason for divorce.

[tobee43]

That's good to know jadams. It used to be that just Amex did purchase modeling, but a lot of the other cards are doing it too now.

yes it is good to know...it seems as though many of these card distributors are going to have to begin a new era of rules....maybe?

[tobee43]

You need not worry about purchase modeling with Capital One. Use the card wherever you want.

well actually the goal is for the future. i don't want to lose the lines because we don't use them...and i really don't WANT to use them..LOL!!!

that's why i was thinking food as the best way to spend and pay with the cards...it's a necessity that we would spend money on anyway...get home...go on line and pay off the amount immediately.

also....we NEVER were late in 40 years with our cc's....just when the stay was put into effect. i never...against atty's advised stopped paying the cc's and now i'm glad we followed our instint as opposed to stopping the payments altogether.

[backtoschool]

You need not worry about purchase modeling with Capital One. Use the card wherever you want.

That's good to know jadams. It used to be that just Amex did purchase modeling, but a lot of the other cards are doing it too now.