Interesting Credit Card Offer

[nomore$$]

I'm waiting for 1/30/06 for my discharge.
Over the past several weeks I have received about 5 offers for cards with VERY high annual fees, monthly fees, and other CRAP.
Yesterday I received a pre-approved offer from Advanta bank with no annual fees, maintenance fees, etc. Just like I used to get when my credit was good.
Maybe when I apply after my discharge, they will have second thoughts?
I'm guessing this is the case.

[Minnymouth]

Sometimes they offer you these "deals" till you actually apply - THEN they tell you based on your credit history - THEY CAN OFFER YOU THIS (usually has a annual fee, limited credit, etc).

Usually about a month after discharge you will start receiving offers. Just be very carefull and read the fine print on charges and interest rates.

Most of us here on the forum started out with cc from Orchard Bank (they report to the credit bureaus) and Aspire......(they report also).....

You only want a cc for emergencies and to help build your credit rating back up.

Keep a low balance, pay off in full each month, and watch your credit score go back up.......

DO NOT get in the habit of using it for everyday expenses or just paying the min payment each month.

Make it work in your best interest.

[StaciMM]

2 points to ponder... If you don't expect to have the need for a mortgage app or refi in the IMMEDIATE future, then you can probably wait a few months after discharge and avoid the real bottom feeder cards. If you are concerned with getting started right away, Orchard is a good option. They may approve you for an unsecured card w/ no monthly fee, and if not-they start the secured card at $200.

[FilingOnMyOwn]

Whatever you do don't fall for this garbage:

Aspire Visa
APR 19.75% for purchases
25.75% for cash advances
31.75% default rate

Annual Fee: $150 per year
Account Opening fee: $29
Monthly Maintenance: $6.50


I waited a few weeks and got another card, 59$ annual fee, 15% interest, no other fees. And I won't be accepting any more with annual fees after this one.

[nomore$$]

I should wait until after discharge to apply, correct?

[bkfiler]

you dont have to, but the longer you wait the beter the offers.

[nomore$$]

For some reason I thought you weren't allowed to apply before discharge.
Maybe my head is spinning from all this forum reading

[bkfiler]

sure, lots of people apply right after they file. i waited until after the 341 to be safer.

want super safe then never do anything until after discharge and close.

[thompsoj]

I received a Cap1 preapproved 0% til Aug '06 (14% after) and a $19 annual fee. I went online to fill out some info and they sent it to me today. I was thinking probably $300 limit, well imagine my surprise when I called to activate and they said $2000 limit. I didn't really want $2000 but I don't intend on overusing it, may use it to pay a regular monthly bill and pay it off every month.

[bkfiler]

nice! you can actually call them and have it lowered if you want.

[FilingOnMyOwn]

nice! you can actually call them and have it lowered if you want.

Yes, I did that on my old citicard. I got it lowered twice, from over 10%, down to 7, and down to 5.9%. Thats when I had good credit. Too bad it didn't do me any good, after I missed a payment and they raped me with 27%

[bkfiler]

hehe, i mean the credit limit. i plan on not having any more then $1000 total ever for a long time. probably not even past $3000 afer that. just dont see a need anylonger. bu tif i have it i bet ill find a need.

i did before so i wouldnt put it past me again lol

[FilingOnMyOwn]

Yes having a 5 digit credit limit sure was nice, but awfully dangerous.