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    Creditors that I put in bankruptcy

    In my Chapter 13, 2 creditors that were put in to the bankruptcy were my credit union and Discover. Someone had mentioned to me that I should reapply to either or both of these creditors for new credit cards to help build back my credit. I think it would be a mistake, since I basically burned both of them by listing them in the bankruptcy. Any ideas on what the right thing is to do? Is it even worth it to try? Thanks.

    #2
    I can't comment about your credit union but Discover is very unforgiving. I was discharged in 2016 and even though I paid 100% back, they are not interested in dealing with me. How long have you been out of BK? Try Capital one, they are very generous to those who make it through BK.
    Filed Chapter 13 - 07/20/12
    Discharged 8/2/16

    Comment


    • NextPhaseNow
      NextPhaseNow commented
      Editing a comment
      I was discharged in December 2017. I have since gotten a Capital One credit card and thankfully rebuilding my credit with it. I wanted to add another card to expand my "creditworthiness". Discover continually sends me pre-approval mail which now I realize wouldn't even be worth trying-who wants a hit to their credit for something that will most likely be denied

    #3
    My pre-BK credit union closed all my accounts after I paid off the car and personal loans I had through them. I went to another credit union instead after discharge and they accepted me. They have a credit builder account that I may start soon.

    Sophie is right about Cap One. I applied for and received a Cap One Mastercard a week after discharge with a $2K credit limit. They will raise to $2.5K if I pay on time for the next few months. I would try them instead of Discover, who I burned in BK.
    Filed Ch 13 November 2013, discharged March 2019
    Credit Karma FICO scores 3 months post-discharge:
    715 Trans Union/726 Equifax

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    • NextPhaseNow
      NextPhaseNow commented
      Editing a comment
      Thankfully Capital One took a chance on me. Granted me a $10,000 limit, which still scares the ever loving crap out of me! I haven't gone over $1,100 an I've paid off my balance every time. I, too, went to a different credit union, through my job (which I've been at for almost 19 years and just joined 4 months ago!) Maybe I'll try for a card through them as well. I did try for a credit card and a small personal loan through my regular bank, and was denied for both. It's a slow climb, but I'm getting there.

    #4
    I pretty much burned every company.. 2 cards for capital one, Discover, 2 Amex accounts, synchrony, bestbuy .. anyone have any luck post discharge getting a card for a company they burned ?

    Comment


      #5
      You can forget American Express. They have a long memory. Synchrony is possible as I was able to get Synchrony-backed accounts. I don't know about Bestbuy or Discover.
      Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
      Status: (Auto) Discharged and Closed! 5/10
      Visit My BKForum Blog: justbroke's Blog


      I am not an attorney. Any advice provided is not legal advice.

      Comment


        #6
        Another question. I had cards closed that WEREN'T involved with the bankruptcy (department store cards, HSN). They closed them out once my bankruptcy was filed. I carried no balance on any of them at the time of filing. Would they accept new accounts from me or is it not worth it? I'd really like some diversity in my credit profile and dont want to constantly apply and get denied and have all of that on my credit report.

        Comment


          #7
          It depends. I had accounts that had a $0 balance, including my Sterling account. I called to ask for an increase and they closed the account. I would wait to put some distance between the discharge and seeking new accounts (maybe 6 months). Personally, having a lot of store cards with balances is not good for your credit.

          My recommended course of action for the freshly discharged is to obtain one or two secured (or unsecured) bank cards and make sure you use them, and pay them down below 9% before each billing period. Store cards are the worse, especially when it comes to the interest rate.
          Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
          Status: (Auto) Discharged and Closed! 5/10
          Visit My BKForum Blog: justbroke's Blog


          I am not an attorney. Any advice provided is not legal advice.

          Comment


          • NextPhaseNow
            NextPhaseNow commented
            Editing a comment
            I was discharged back in December 2017. I've only got the one Capital One Visa card and it has a huge limit (ask me how, and I couldn't tell you why they gave that to me) and I haven't used more than 10% on any given billing cycle and its paid in full each time. The only department store card I'd like to have back is my Kohl's card. But if it isn't meant to be, then it isn't. I will try my credit union and see if they'll approve me for their card.

          #8
          NextPhaseNow no one knows why. Navy Federal gave me significant credit limits as well. But AMEX absolutely hates me!
          Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
          Status: (Auto) Discharged and Closed! 5/10
          Visit My BKForum Blog: justbroke's Blog


          I am not an attorney. Any advice provided is not legal advice.

          Comment


          • NextPhaseNow
            NextPhaseNow commented
            Editing a comment
            Guess I shouldn't look a gift horse in the mouth 😄 I'll just try and see who'll be willing to take a chance with me 🤞

          #9
          NextPhaseNow - Hi - Kohls was in my chapter 13. About 1 year after discharge...they allowed me to have my credit card back and gave me a higher limit. As mentioned earlier Synchrony cads are also easy to get (Walmart, CareCredit, Amazon).
          Filed Chapter 13 - 07/20/12
          Discharged 8/2/16

          Comment


            #10
            That's good to know sophieanne I guess I burned all of them (even though we are in 100% payback). I had Walmart, CareCredit, CarCredit, and Best Buy (which was synchrony) and maybe some other card by them--maybe Victoria Secret ? I had so many cards it was insane. When we are finally discharged I think I only want a major credit card to build credit back up, don't know if I will bother with getting individual cards, maybe just Amazon would be handy.

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              #11
              CareCredit appears to be insensitive to bankruptcy. I discharged about $800 dollars with them. I now have a $15K Care Credit line (with a $0 balance as it's for emergencies only).
              Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
              Status: (Auto) Discharged and Closed! 5/10
              Visit My BKForum Blog: justbroke's Blog


              I am not an attorney. Any advice provided is not legal advice.

              Comment


                #12
                Originally posted by justbroke View Post
                CareCredit appears to be insensitive to bankruptcy. I discharged about $800 dollars with them. I now have a $15K Care Credit line (with a $0 balance as it's for emergencies only).
                When did you apply for CareCredit? Was that after discharge or during Chapter 13? I need to rebuild credit maybe this would be an option, I am only allowed $500 per the trustee/court so maybe it's not really an option. I keep thinking I should try to get some type of card and keep the balance at about 10%. Then I think I should join a credit union, save a little money then look for a card from them (secured most likely). My husband is also allowed $500.

                Comment


                  #13
                  The second carecredit was after discharge.
                  Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
                  Status: (Auto) Discharged and Closed! 5/10
                  Visit My BKForum Blog: justbroke's Blog


                  I am not an attorney. Any advice provided is not legal advice.

                  Comment


                    #14
                    Hi Carmella..sorry my carcredit was after discharge also.
                    Filed Chapter 13 - 07/20/12
                    Discharged 8/2/16

                    Comment

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