What's a good fresh start credit card?

[relief13035]

I have been trying to do research online regarding obtaining a credit card after bankruptcy discharge. So many of them have insane fees.

I just want (1) card with no more than $1000 limit. During the month, I have job-related expenses which my company pays me back in full at the end of the month. For example, next month I have to fly to Austin, TX for job-related training. I just paid for the plane tickets with my ATM, but you can imagine that puts me short on my cashflow. On top of that I will have hotel and food expenses.

Does anyone on the forum recommend a BK friendly credit card?

We keep receiving "pre-approved" offers from Juniper even though we haven't been discharged yet. We have received at least 6 from them. I have NO desire to have anymore cards than just (1) for work issues

[floridian]

my neighbor filed bk and said he gets bunches of cc offers in the mail.... when he sends them in however, they deny him credit... he has a regular income and has been prompt on all payments since his discharge, too..

[AngelinaCat]

Really, in my opinion, the best route to go is 'cash only'. Save up an emergency fund that is to be used for true emergencies--such as the car breaks down; someone get sick, etc. It is not to be used for incidentals when you are short of cash.

Then save up other funds for 'entertainment', household good like a set of new sheets--those types of things, that you can anticipate and budget for.

I do remember taking Home Ec in high school, but for the life of me, I do not ever remember being taught to make and keep a household budget. My mother wasn't much help either. She had a good job and revolving credit in those days. My father had died much earlier.

Both 'Hub and I had good paying jobs when we first met and married, and could spend w/o worrying about the consequences. But no more. Now we are having to learn to discipline ourselves to keep within a cash only budget, and it is hard at times.

Good luck to you.

[journey]

Well i have looked into a Bank of America Secured Credit Card. I thought i would get one for $500 or so than the money will be setting there and in times of need i would have it.

From what i read it works like a regular Credit Card they turn it in to the 3 Major Credit Reporting Agencies. So it will help build Credit up again.

[TEW]

cash is always good LOW interest rate too

[AngelinaCatHub]

cash is always good LOW interest rate too

[liz417]

Can you get one of those "secured" cards and pay it off montly? I haven't looked into those, I've just heard about them....
Good Luck!

[BassBoy]

I have been trying to do research online regarding obtaining a credit card after bankruptcy discharge. So many of them have insane fees.

I just want (1) card with no more than $1000 limit. During the month, I have job-related expenses which my company pays me back in full at the end of the month. For example, next month I have to fly to Austin, TX for job-related training. I just paid for the plane tickets with my ATM, but you can imagine that puts me short on my cashflow. On top of that I will have hotel and food expenses.

Does anyone on the forum recommend a BK friendly credit card?

We keep receiving "pre-approved" offers from Juniper even though we haven't been discharged yet. We have received at least 6 from them. I have NO desire to have anymore cards than just (1) for work issues

Yes, the fees for those "rebuilding" cards are outrageous. Around here, Capital One seems to be a good card to have, unless you BK'd on Cap One.

my neighbor filed bk and said he gets bunches of cc offers in the mail.... when he sends them in however, they deny him credit... he has a regular income and has been prompt on all payments since his discharge, too..

Getting those solicitations in the mail are just that........solicitations. They are by no means a guaranteed approval. These are sent out from "soft pulls" of your credit. The creditors don't actually see your credit report until you apply. Your neighbor could have errors on his report or his history prior to filing was bad to begin with. Creditors will look at your past credit history (before the BK) and if there are delinquencies and/or collections prior to BK, then that's no good either.

[AngelinaCatHub]

Can you get one of those "secured" cards and pay it off montly? I haven't looked into those, I've just heard about them....
Good Luck!

[journey]

Liz.. Yes you can pay the Secured Credit Cards off Monthly as well.

Bank OF America offers one. Seem like they have a annual fee
but i think it would be a good way if you need a credit card
for emergencies. All thought its still kinda like a Debit Card its
your funds and when you run ot its gone till you make a payment
or pay if all the way off.

[relief13035]

Hi Liz - I am reading about "secured" cards right now. I think this might be the way to go for me. My trip to Austin is going to cost me a lot. I have to stay at the Austin Hilton which is $269 a night, I don't have the option of staying at a cheaper place. I just talked to my boss and he sent over a credit card authorization on his company card to pay for all my room nights and I can charge meals to the room. Thank goodness. This trip would have cost me about $1200 on my own. Sure I have a great job now, but I need to catch up and heal from my financial mess. In the hotel business, you will always have to travel. I've never been in financial problems before, so this was never a problem. I would just get paid back when I submit my expenses. This is definately a lifechanging event. I CAN DO IT!!!

[Never_Again]

Here is the secret...

Save up $1000, $2000, or whatever you would like for a credit line.

Open a checking account with the money, and get a debit card on that account.

Problem solved.

Hub has it right... you need to learn how to break the cycle, and exist without credit cards. Learn to do it differently than everyone else does!

[relief13035]

When there's a WILL, there is a WAY. Yeahhhh I made it work!

[relief13035]

So far I haven't had such a good experience trying to open up a new checking account during this BK. I tried this and was turned down by Wells Fargo even though I have never wrote a bad check. I am going to wait until after the discharge and try again. I have read that US Bank is very good. They are the bank for 722 redemption, so I am assuming that they might be post BK friendly since they do loans for vehicles in BK. Right now I have Bank of America. I bk'd on BofA and Capital One so I doubt they would want to give me even a secured card.