topic Re: Can we start a new BK Friendly List of CC? in Credit Cards

Can we start a new BK Friendly List of CC?

shalane85 — Sun, 23 Sep 2012 18:05:34 GMT

Honestly the ones posted on this forum are outdated and many of them are non exhistent in 2012 such as Tribute, Orchard, and HSBC. I currently have one cc with Capitol One, and I am having the hardest time getting any other cc approval. My BK was dishcharged last July so that is the only thing holding me back. I'm not sure where else to apply? Maybe I need to wait until my BK is older. I checked my equifax score today and it stands at 628.

Re: Can we start a new BK Friendly List of CC?

LS2982 — Sun, 23 Sep 2012 18:09:08 GMT

Probably should sticky this after it compiles some.

Re: Can we start a new BK Friendly List of CC?

shalane85 — Sun, 23 Sep 2012 18:17:13 GMT

I agree because the current llist we have is from 5 YEARS AGO! Very outdated.

Re: Can we start a new BK Friendly List of CC?

Weights — Sun, 23 Sep 2012 18:29:21 GMT

Unfortnately, I'm not really sure. I've heard of Barclays sometimes approving someone a year or two post BK through the backdoor number, given that they've established a good history after the BK via secured credit card, no new collections, etc. The only ones I know of which are ok with bankruptices, unfortunately, are Crap One, HSBC, and Orchard's. You might try Fifth-Third as well; a good friend of mine obtained a secured account with them 2 months after chapter 7 BK, and was promised a conversion to an unsecured account if he builds a good year of history with them. One I can tell you to avoid for sure is US Bank; they pretty much told him that even with their secured card, they almost never approve someone w/a bankruptcy on record. Makes you wonder why they even offer it.....Good luck to you!

Re: Can we start a new BK Friendly List of CC?

trumpet-205 — Sun, 23 Sep 2012 18:30:13 GMT

A BK from last July is pretty fresh. You need to let that BK age.

Re: Can we start a new BK Friendly List of CC?

shalane85 — Sun, 23 Sep 2012 18:34:31 GMT

That was what I was afraid to hear. I just talked to NFCU and they say they offer a sceured cc and a secured loan. I may try that option.

Re: Can we start a new BK Friendly List of CC?

pozativelyliving — Sun, 23 Sep 2012 19:32:49 GMT

For me, BK discharged 2/10.

Received Cap1 secured 9/10

Unsecured Cap 1 and Orchard (now Cap 1) 9/11

8/12 - Target, Barclays, Merrick, Walmart

9/12 - JCP

My score in 9/11 was 520, now has been in the mid-high 600s. Don't know what it was in 2010. Probably lower than 500.

Re: Can we start a new BK Friendly List of CC?

trumpet-205 — Sun, 23 Sep 2012 19:38:51 GMT

shalane85 wrote:
That was what I was afraid to hear. I just talked to NFCU and they say they offer a sceured cc and a secured loan. I may try that option.

Take it. A secured CC and loan from CU is an excellent way of rebuilding credit.

Re: Can we start a new BK Friendly List of CC?

aussiesareforever — Sun, 23 Sep 2012 21:24:23 GMT

There is a thread currently running in the BK section. I think it is titled BK friendly creditors.

Barclay is BK friendly. They like to see at least one positive tradeline that is six months ago. Be prepared to call to recon. I doubt that you will be automatically approved. Discover is also BK friendly. They also like to see positive tradelines on your reports post BK but they've been known to issue cards as early as a year post BK. GE bank also tends to be BK friendly. My favorite recommendation is your local credit union. Definitely take the NFCU offer!

As always, YMMV

Re: Can we start a new BK Friendly List of CC?

compassion101 — Mon, 24 Sep 2012 04:37:44 GMT

From my experience:

Friendly:

CapOne

Barclays

Discover

Unfriendly:

AMEX

Chase

BOA

I got approvals from barclays and discover recently, both were 8 years post-BK. Pretty sure I burned discover in the BK too.

Had denials from chase and AMEX a year ago listing the BK as reasons. Had burned chase but not AMEX, fortunately got into chase through a backdoor. Also denied 8 years post BK from BOA who I had burned.

Re: Can we start a new BK Friendly List of CC?

Creditaddict — Mon, 24 Sep 2012 05:58:58 GMT

compassion101 wrote:
From my experience:

Friendly:
CapOne
GE
Barclays
Discover

Unfriendly:
AMEX
Chase
BOA

I got approvals from barclays and discover recently, both were 8 years post-BK. Pretty sure I burned discover in the BK too.

Had denials from chase and AMEX a year ago listing the BK as reasons. Had burned chase but not AMEX, fortunately got into chase through a backdoor. Also denied 8 years post BK from BOA who I had burned.

Von Maur

Macy's & Bloomingdales

Neiman Marcus & Saks

Nordstrom

Kay Jewelry - they are company of 3 and you can have all 3 if you want, HP for each though.

Navy Federal

Target

Firestone

NOT FRIENDLY:

WFFNB (Express, VS, NY & Com, etc.)

Hope when we get all done and updated, just 1 page with all are posted!!!

Re: Can we start a new BK Friendly List of CC?

daissy73 — Mon, 24 Sep 2012 18:33:33 GMT

I filed chapter 7 bankruptcy in Dec 05-- here is what I have received since then..
Orchard Bank-opened in 07-limit was 200-now 1000
HSBC-opened in 09- limit was 650 or 750 (cant remember) now 1150
JFCU-opened in 07-limit 1000
Capital One platinum- opened in 07 limit was 300 now 2250
Walmart- opened in 07- limit was 150 now 900
Bank of America secured-- opened in 07--made addtl deposits periodically by the 1 year mark limit was 2500-- called in requested that they unsecure-- they did--but no increase at the time--got a product change to the bofa amex about a yr and a half ago--requested an increase in dec 11- denied-- requested an increase again last month (mid august) increased by 2500-- limit is now 5000
American Eagle opened in 08 limit 150-now 450
Merrick Bank opened in 06-limit was 600 or 700 cant remember it was a preapproved offer mailed to me-limit now is 2600
Capital One-opened in 09- limit 500
Ameriprise- opened in 09- limit 2000
Jared--opened in 09-- limit was 3000- they have been periodically increasing it and the limit is now 10,000-
Penfed Cash rewards card--opened in 09--this was initially a decline-- i faxed in a recon letter and was approved for 5000 but have to fax paystubs also--this card is now switched to the Penfed platinum rewards card--
Merrick Bank (formerly Hooters card) opened in 09-limit was 1500 limit now is 2200

Sorry this is so lengthy-- but I have been able to make some great credit improvements by reading this forum since my bankruptcy and wanted to share my experience- hopefully it will help someone else...YMMV

Re: Can we start a new BK Friendly List of CC?

Creditaddict — Mon, 24 Sep 2012 18:47:38 GMT

daissy73 wrote:
I filed chapter 7 bankruptcy in Dec 05-- here is what I have received since then..
Orchard Bank-opened in 07-limit was 200-now 1000
HSBC-opened in 09- limit was 650 or 750 (cant remember) now 1150
JFCU-opened in 07-limit 1000
Capital One platinum- opened in 07 limit was 300 now 2250
Walmart- opened in 07- limit was 150 now 900
Bank of America secured-- opened in 07--made addtl deposits periodically by the 1 year mark limit was 2500-- called in requested that they unsecure-- they did--but no increase at the time--got a product change to the bofa amex about a yr and a half ago--requested an increase in dec 11- denied-- requested an increase again last month (mid august) increased by 2500-- limit is now 5000
American Eagle opened in 08 limit 150-now 450
Merrick Bank opened in 06-limit was 600 or 700 cant remember it was a preapproved offer mailed to me-limit now is 2600
Capital One-opened in 09- limit 500
Ameriprise- opened in 09- limit 2000
Jared--opened in 09-- limit was 3000- they have been periodically increasing it and the limit is now 10,000-
Penfed Cash rewards card--opened in 09--this was initially a decline-- i faxed in a recon letter and was approved for 5000 but have to fax paystubs also--this card is now switched to the Penfed platinum rewards card--
Merrick Bank (formerly Hooters card) opened in 09-limit was 1500 limit now is 2200

Sorry this is so lengthy-- but I have been able to make some great credit improvements by reading this forum since my bankruptcy and wanted to share my experience- hopefully it will help someone else...YMMV

Are these everything you have and all open as of today?

Might be time to garden out some AF cards and go more prime.

Walmart, I would call right now and ask for CLI through automated system, if you use it at all, you should have no issues getting that into $3k+ range or get yourself an offer online for upgrade to Walmart Discover with the long history and better higher limits now. oh and America Eagle with GE too.

Congrats on all your cards though, some limits I didn't think possible on some cards!

Re: Can we start a new BK Friendly List of CC?

daissy73 — Mon, 24 Sep 2012 19:25:16 GMT

Thanks!!! yes these are the cards I currently have open today... I just got an increase on the walmart & american eagle last month-- through the automated line but I only asked for small increases because I wasnt sure if the automated line countered or not... but I do want to apply for some new more prime cards around Dec or Jan my utilization should be at about 10% or so around that time-- which cards do u think I should try for at that time???

Re: Can we start a new BK Friendly List of CC?

jdirilo — Mon, 24 Sep 2012 20:13:01 GMT

I had a BK ch7 discharged in Oct 09. At that time(and up until I found this forum in July) I knew nothing about rebuilding credit. I didn't think I would ever have a chance at getting credit ever again. So, I didn't even try for 2 years. Then in June I got my first auto loan that is actually reporting to my credit(I have always bought from buy here pay here places) and that has been on time every month. I got a cap 1 secured card $200 limit at that time as well. I recently got a secured $500 WF card, and unsecured $500 cap 1 and NFCU cards. I would say, if you qualify for an account with NFCU, apply for a card with them. My scores are ridiculously low. Tu is 602 as of today, and the other two im sure are in the mid-high 500's.

As for denials....you name it, I was denied. Recon'd and denied again. JCP, walmart, discover, chase, barclays, credit one, the discover matrix, pretty sure there are more(since i have had 10 plus inq in a two month period) but almost every single one said the BK was the issue, and insufficient re-establishment of credit.

Re: Can we start a new BK Friendly List of CC?

jdirilo — Mon, 24 Sep 2012 20:13:29 GMT

Oh, and BofA as well denied me.

Re: Can we start a new BK Friendly List of CC?

shalane85 — Mon, 24 Sep 2012 21:30:36 GMT

Well Navy Federal approved me for a $500 secured visa!

Re: Can we start a new BK Friendly List of CC?

jdirilo — Mon, 24 Sep 2012 21:49:03 GMT

COngrats! TOld ya! I never even heard of them until I came to these forums! I am glad I did though.

Re: Can we start a new BK Friendly List of CC?

amercnchopz34 — Mon, 24 Sep 2012 22:06:46 GMT

Post BK cards Chap7 June/ 2005

I guess all can be considered BK friendly.......as your BK ages

HSBC Discover opened 07 1300 CL

Cap one platinum 2008 2000 CL

Barclays MC 11-2011 5000 CL

Fairwinds 4-2012 2500 CL

Alliant Visa 4-2012 5000 CL

Chevron 2010 1000 CL

Best Buy Store card 2008 750 CL (shutting down June 2013)

Re: Can we start a new BK Friendly List of CC?

shalane85 — Mon, 24 Sep 2012 22:00:56 GMT

I honestly thought they would decline me since BOA did it to me.