Best 2nd credit card to apply for post chap 7

[ssc2761]

So since a 2nd card is probably not a good idea right now, since I don't want a low limit card with an AF, do you all think it would be a good idea to have add myself to my wifes Cap one as an authorized user. Also to add her to mine as an authorized user. We each have the cap one with $2500 line and no AF. This way we would each show a $5000 available credit and a 2nd card reporting as well. WE have the accounts on auto pay each month and only charge one utility bill each on them. Would this raise our scores and improve our credit quicker? Would this be at all a good idea to do this? Would it help us get second cards by early next year? Any help is appreciated!!! Thanks!

[Medora]

Hi All, Thanks for your stories. Discharged 1 year ago, and my Juniper Card (Barclay's) survived with my $500 credit line in tact! I charge on it every month, have paid it in full most months, but mixed it up to show variety. They've stared sending me balance transfer offers I guess as a "reward," but instead I would like to ask for a credit increase...but I'm afraid they'll look at me, find the BK and take it away! Any ideas on this?
Also I applied for my first post-BK card at Kohl's and got instantly turned down. :-( Depressed. Orchard wants to charge big fees, but I guess it's the way to go.
Sigh.
Ideas appreciated.

[Amy26]

I haven't posted in a while but I'll share a bit of my successes with you. I started with a Hooters card, HSBC Reward Zone Mastercard and then capital one. I now have cards with Navy Federal FCU, Alliant FCU and Partners FCU. Your best bet is to get in with a BK friendly credit union and build a history. Alliant is open membership for all if you join through an association. They are finicky with their approvals and say that you must be 3 years post discharge but I got my card with them about 1.5 years. It started out at 500 but its now 3,500. Partners and Navy are way more difficult to get into but there are TONS of credit unions out there and you don't necessarily need to only join one that is in your area. You can also call and request that you speak to someone in their loan department to ask about their BK rules.

Barclays is very picky and choosy ... some people they approve post BK and others they don't.
Barclays will also close your accounts if they think you have too many inquiries or too many new accounts after opening it with them. There is also Firestone which seems to be BK friendly. GEMB (GE money bank) is also choosy with who they will approve. If you did not BK anything with them, then there are some who have obtained credit through them again. JCPenny is a good example and also seen some Walmart card approvals as well as Target and Old Navy.

Hope that helps.

[LSUTiger32]

crazy. i'm sorry....credit score...rewards points...I think it's crazy to get a cc after bk. just my opinion. why borrow money at all? live w/in your means....save....we cut up our 8 cc's 2 years ago...just filed in March, a chapter 13...have never used a cc since 2008ish...renting cars..everything can be done with debit.
we will never have a credit card again. never.
michelle...mother of 4

Great advice, but some people just worship that almighty FICO score. It's not about doing smart things financially, it's about getting their "standing" back. Nothing good can come from getting one credit card much less two.

[telco95]

U could try for another Cap1 card. I have seen people with multiple Cap1 CC. I just received an invite to apply for another Cap1 CC. My current limit is $750 and I've had it since 11/10.

[feelingnutsy]

Thanks for this info---telco95---
and do you know if they offer cards in the Visa system?

[ssc2761]

I have thought of applying for another Cap One card, although it has a $39 annual fee, but does give no hassle rewards? I hope I get some preapproval offer soon to consider, otherwise I am leery of pulling the trigger with 5 inquiries on my TU report, with 2 that fall off in October. My wife has similar credit as mine and the same Cap One $2500 card with no AF. She recently received a Best buy mastercard offer through HSBC I think. Would this be a good offer, it has a $39 annual fee. The interest rate doesn't matter too much to us as we don't carry a balance these days, just rebuilding to get ourselves in a good position. Thanks!

[ssc2761]

After recently being denied Barclays priceline as my 2nd card, I then went to HSBC to see if I prequalify. I prequalified for the HSBC 2% rewards card with no AF, so I hit the apply button and the phone immediately rings. I didn't pick it up and then called HSBC this morning to see whats going on since the website said 10-14 days processing. I was told approved $300 line, but no AF and they wouldn't increase the line. They said due to some July 2011 thing, they don't do customer initiated line increases yet, but would auto review after 4-6 mo of ontime payments to see about increase, which will probably be miniscule but I can't complain at this point with 2 cards and no AF. Now, how do I use these cards. I had been using the cap one to charge my cell phone bill and then PIF with just that balance reporting each month. I never use more than 9%. Do I use the 2nd card at all? If so, how much do I let it report? Should I use the rewards card more? Problem is that if I charge $30, then I'm at 10% already. Please advise and any help appreciated. I chose HSBC since they don't pull TU as that is where I was denied for Barclays and turned down Hooters there too. I am thinking of CFNA firestone next since they seem to approve all BK's and then garden for 6-12 mo and try barclays again. Thanks all!!

[ssc2761]

Any feedback on this one? Should I just keep the 2 cards and wait until I start getting better offers or rebuild further with Firestone. Thanks all!!

[CCsAreEvil]

Hmm. Firestone. Has anyone been turned down by them? I like how they have no annual fee. It looks like the perfect credit builder account which should cost nothing. I've heard they give decent limits, too.

[feelingnutsy]

Anyone have a link to Firestone?---thanks.

[ssc2761]

Just type firestone card or cfna firestone and it will come up.

Anyone have a link to Firestone?---thanks.

[feelingnutsy]

Thanks for the info---ssc2761.