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Best 2nd credit card to apply for post chap 7

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    #16
    I was being a little to impulsive when I applied and actually saw the deniel as a good thing. I already had an account with Conns that I'm currently paying on so I just got it from there.

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      #17
      Did you decide on the Barclays? Another thread also reminded me of the Hooters card... I forget who issues that card, though. Have you also looked into a credit union, either local or bigger? I only have two cards since discharge, Orchard and a secured card from AAFCU. My favorite is the secured card, and I am planning on trying to get it unsecured near the end of the summer which will be 6 months since I've had it. At one point after discharge my credit was so bad Cap 1 wouldn't even approve me for a secured.

      I also agree with you about using credit cards again, but that is a hot issue on this forum.
      Filed No Asset Chp 7 BK: January 2010
      Discharged: August 2010
      A life lesson well learned.

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        #18
        At this point, I have decided on the Barclays priceline card, unless I find out the other ones besides apple, are BK friendly as well. I actually want to find out if one vs the others is more BK friendly. I had tried hooters in the beginning, but the credit limit was like $300 with around a $50 AF, and I didn't want a card like that, which I would close one day. My cap one now has a $2500 limit and no AF, so unless they change the AF policy, I won't have to close that one. I will have to look into Cu's, but i'm not military so don't know which ones would be BK friendly 1 year out. My local is Safe CU, but I don't know how they are after BK. Anyone else have any input on the barclays cards and which one may be more BK friendly. Thanks!
        Discharged Chapt 7 on 7/7/10.
        Scores as of 7/12/11: EQ Fico 653; TU Fico 644; EX Quizzle 652
        Only card right now is Cap One $2500, no AF, approved 12/4/10.

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          #19
          I believe that the Barnes & Noble MasterCard is a Barclays card ("The Barnes and Noble Mastercard is issued by Barclays Bank Delaware"). I have no idea if it is BK friendly, though. Has anyone gotten this card after BK?
          Filed BK 7 Pro Se: August 2010 341 Meeting: September 2010
          November 2010
          Closed: January 2011!!!

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            #20
            Yes barclays does do the Barnes/Noble card. They do a bunch of cards like the NFL and BJ's, etc... In my research, the only ones other posters have mentioned as BK friendly are the Apple and the priceline. I still couldn't find any Barclays juniper card anywhere, which I was told is also BK friendly, but I cannot find out where you apply for it.

            Originally posted by BankruptinNJ View Post
            I believe that the Barnes & Noble MasterCard is a Barclays card ("The Barnes and Noble Mastercard is issued by Barclays Bank Delaware"). I have no idea if it is BK friendly, though. Has anyone gotten this card after BK?
            Discharged Chapt 7 on 7/7/10.
            Scores as of 7/12/11: EQ Fico 653; TU Fico 644; EX Quizzle 652
            Only card right now is Cap One $2500, no AF, approved 12/4/10.

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              #21
              I just assumed all Barclays cards were BK friendly. I applied for the B&N one and was declined not because of my BK but because of my lack of credit history. Tried to recon and the guy basically told me wait 6 months... which is what I am doing. I'll apply for it again when I go for an unsecured version of my main credit card.
              Filed No Asset Chp 7 BK: January 2010
              Discharged: August 2010
              A life lesson well learned.

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                #22
                Our ch. 7 bankruptcy was discharged in 2009 and I had planned on living a cash lifestyle but changed my mind a couple of months ago. I didn't like the idea of being away from home (I had several trips planned for school and my new job) and not having a backup in case of emergencies. I got a Capital One card with a $500 limit, no annual fee and 19.80% interest. I was surprised they gave me a card because I included them in the BK for both a credit card and a personal loan. I then decided I needed a gas card. ExxonMobil declined me so I applied for Valero and got a $300 limit, no annual fee and 23% interest. Next I applied for an HSBC card because I already had a savings account with them and they gave me a $750 limit, no annual fee and 19.99% interest. The final card I applied for was a Hooters card because I read on this forum that they are very BK friendly. They gave me a $1000 limit, no annual fee and 21.45% interest. I think this is enough credit for me....I don't want to get in the same trouble I had gotten in before.
                Filed Chapter 7: 4/3/09
                341 meeting: 5/6/09
                Discharged: 7/24/09
                Closed: 7/29/09

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                  #23
                  How far apart did you apply for each card? I'm a year out of BK discharge of 7/7/10 and at this point only have my Cap One with no annual fee and a now $2,500.00 line. The interest rate is 20% or so, but I don't carry a balance so I don't care. I am also trying to figure out what 2nd card to apply for. I might try Barclays within a week or so.
                  Discharged Chapt 7 on 7/7/10.
                  Scores as of 7/12/11: EQ Fico 653; TU Fico 644; EX Quizzle 652
                  Only card right now is Cap One $2500, no AF, approved 12/4/10.

                  Comment


                    #24
                    Let us know how the Barclays goes. I am curious.
                    Filed No Asset Chp 7 BK: January 2010
                    Discharged: August 2010
                    A life lesson well learned.

                    Comment


                      #25
                      Will do. I am waiting until after 7/18/11, when I get an updated report from myfico with score. I will see if anything has changed, which it probably hasn't. I have a 615 score with the one Cap One card reporting as of right now. I got lucky with a $2000 initial limit, no AF, and then they upped it to $2500 less than 2 months ago. I also have my student loan that reports with no lates ever. My BofA mortgage doesn't report since it was IIB, but I have never been late on it either. If I have to recon the Barclays card, which I will probably have to do, I will mention all this. I will post once I get an answer in a little over a week....

                      Originally posted by iswmle View Post
                      Let us know how the Barclays goes. I am curious.
                      Discharged Chapt 7 on 7/7/10.
                      Scores as of 7/12/11: EQ Fico 653; TU Fico 644; EX Quizzle 652
                      Only card right now is Cap One $2500, no AF, approved 12/4/10.

                      Comment


                        #26
                        Ok bad news. Even though my TU score went from 615 to 644 before I applied for the Barclays Priceline card, the online response was they would review it. So I called them yesterday morning to recon, and despite me trying to convince the credit analyst, I was declined. The reasons were: I need to show credit usage with ontime payments for at least 1 year. She said it doesn't matter being 1 year from d/c and since my Cap One was opened 12/2010, it is too soon to apply. They only look at post BK credit that you have established and are paying for. They don't look at any credit before the BK. She also said I need to show higher balance with a bigger paydown. I only kept my usage at 10% or lower. So it doesn't really make sense as I am not supposed the show higher usage than that. She said to apply again in 6mo. Then this morning I reconned with a different rep and she said same thing, have to show established credit for longer than the 7mo I've had my Cap one, which is my only card. I asked her if I should apply for and establish more credit cards or just reapply in 6mo. She said it doesn't matter how many cards you have, you just have to have a longer history. Preferrably a year or longer, but at same time this rep said there is no guarantee of being approved in 6mo or even in 1 1/2 years. So I don't think I will apply for this card later. The BK seems to be the biggest factor obviously. I don't know where to go from here. The only other cards I can think of are Orchard (who usually only gives a $300 line with AF, which won't help my utilization much since my cap one is a $2500 line. I looked into hooters too, but research shows they give a small line to post BK people with an annual fee as well. Anyone have any suggestions. I am not military so cannot apply for NFCU or such. Thanks all for any help!!! Also I have 5 inquiries now, with 3 of them being in the last 7mo. The other two fall off by first couple months of next year I think.
                        Discharged Chapt 7 on 7/7/10.
                        Scores as of 7/12/11: EQ Fico 653; TU Fico 644; EX Quizzle 652
                        Only card right now is Cap One $2500, no AF, approved 12/4/10.

                        Comment


                          #27
                          Hi SSC - Great post! The details are always so helpful....I have been following your saga, as I am also committed to establishing back good credit. I had suggested to you previously going the credit union route. I really think it is worth more investigation - in my case, the secured personal loan is showing on my credit as an installment loan. If you get started now, you will have installment payment history for X number of years (you determine this.....5 years would be good because it is the length of time of established payment history that ends up being really important!). Although you must borrow against the amount you have in savings, the borrowed money is available to you immediately to either use, save or use to make your loan payments. The interest payment on the loan is incredibly low. Not all CU's are community types that admit anyone and not all CU's offer secured personal loans... I don't know where you are, but for starters if in N. Cali, try First US Community CU....call them and ask regarding if they check credit to set up an account, etc. (my CU did not). I think the established payment history in a year or two will really be helpful for more unsecured credit opportunities and better unsecured credit terms. If you do research, it will be good to know what you find out!
                          Retained attorney 05-18-10
                          Stopped Paying CC minimum payments 06-18-10; Filed Ch. 7 Dec. 2010
                          Discharged & Closed March 2011

                          Comment


                            #28
                            I will look first into the CU I bank with here in Sacramento CA, which is Safe CU. I am hoping to talk to someone in the loan department before applying to see what my chances are with a Bk on my record. I would rather get another unsecured card hopefully. I will also look into a secured personal loan as you have suggested, although I do have my school loan positively reporting to each bureau. The school loan does showup as an installment loan, so I don't know how much getting another installment loan would help. Any feedback on this?

                            Anyone know of any BK friendly CU's here in California? At this point, instead of chancing it for another unsecured card with a low limit and an annual fee, I may just wait until my other 2 inquiries fall off and then apply when only 3 are showing. I really don't know what other unsecured I can apply for. I don't know if getting a card like Orchard with low limit, will help my scores or chances of getting a better card. Or whether I should just wait until 2 years from d/c and see if that helps at all. Problem is that I want to be in a good position to either refinance my BofA mortgage (not reaffirmed during BK) or possibly pickup a rental as our income continues to rise. Any suggestions anyone? Thanks all!!!!!

                            Originally posted by offthewall View Post
                            Hi SSC - Great post! The details are always so helpful....I have been following your saga, as I am also committed to establishing back good credit. I had suggested to you previously going the credit union route. I really think it is worth more investigation - in my case, the secured personal loan is showing on my credit as an installment loan. If you get started now, you will have installment payment history for X number of years (you determine this.....5 years would be good because it is the length of time of established payment history that ends up being really important!). Although you must borrow against the amount you have in savings, the borrowed money is available to you immediately to either use, save or use to make your loan payments. The interest payment on the loan is incredibly low. Not all CU's are community types that admit anyone and not all CU's offer secured personal loans... I don't know where you are, but for starters if in N. Cali, try First US Community CU....call them and ask regarding if they check credit to set up an account, etc. (my CU did not). I think the established payment history in a year or two will really be helpful for more unsecured credit opportunities and better unsecured credit terms. If you do research, it will be good to know what you find out!
                            Discharged Chapt 7 on 7/7/10.
                            Scores as of 7/12/11: EQ Fico 653; TU Fico 644; EX Quizzle 652
                            Only card right now is Cap One $2500, no AF, approved 12/4/10.

                            Comment


                              #29
                              Ok bad news. Even though my TU score went from 615 to 644 before I applied for the Barclays Priceline card, the online response was they would review it. So I called them yesterday morning to recon, and despite me trying to convince the credit analyst, I was declined. The reasons were: I need to show credit usage with ontime payments for at least 1 year. She said it doesn't matter being 1 year from d/c and since my Cap One was opened 12/2010, it is too soon to apply. They only look at post BK credit that you have established and are paying for. They don't look at any credit before the BK. She also said I need to show higher balance with a bigger paydown. I only kept my usage at 10% or lower. So it doesn't really make sense as I am not supposed the show higher usage than that. She said to apply again in 6mo. Then this morning I reconned with a different rep and she said same thing, have to show established credit for longer than the 7mo I've had my Cap one, which is my only card. I asked her if I should apply for and establish more credit cards or just reapply in 6mo. She said it doesn't matter how many cards you have, you just have to have a longer history. Preferrably a year or longer, but at same time this rep said there is no guarantee of being approved in 6mo or even in 1 1/2 years. So I don't think I will apply for this card later. The BK seems to be the biggest factor obviously. I don't know where to go from here. The only other cards I can think of are Orchard (who usually only gives a $300 line with AF, which won't help my utilization much since my cap one is a $2500 line. I looked into hooters too, but research shows they give a small line to post BK people with an annual fee as well. Anyone have any suggestions. I am not military so cannot apply for NFCU or such. So now I have the one cap one reporting to all 3 CRA's and my school loan to all 3 as well. My non-reaffirmed mortgage with BofA stopped reporting around March of this year. Thanks all for any help!!! Also I have 5 inquiries now, with 3 of them being in the last 7mo. The other two fall off by first couple months of next year I think.
                              Discharged Chapt 7 on 7/7/10.
                              Scores as of 7/12/11: EQ Fico 653; TU Fico 644; EX Quizzle 652
                              Only card right now is Cap One $2500, no AF, approved 12/4/10.

                              Comment


                                #30
                                What i'm going to do is get a secure citibank card which btw was my first credit card and I also have an account with them.
                                I'll use it every month but only to get gas or automatic payment of my netflix then in 18 months they will give me an unsecured card or maybe even less time.
                                I'm not getting in trouble like I did before by having several cards one is enough for me right now and I can wait for a second card.
                                8/30/10 Filed
                                10/12/10 341 meeting

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