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Posts: 170
Registered: ‎05-06-2008
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Re: Bankruptcy Friendly Credit Cards Pt.2


Scupra wrote:
Awesome news and congrats on the approvals luxe! Which Citi card did you apply for? That's an awesome SL for Discover!!

Thanks Scupra!  I can't fully enjoy it though.  I just have an uneasy feeling about the inquiries on my CR.  I'm up to 4 now.

 

I wanted to apply for the Citi Costco card because that seemed to be the one where most BK'ers were getting approval.  But I don't have (or need or want) a membership to Costco.  So I applied for the Citi Simplicity.  I'm still upset on the wasted inquiry!  Oh well, can't get it back!

Garden Date: 3/11/17

Contributor
Posts: 170
Registered: ‎05-06-2008
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Re: Bankruptcy Friendly Credit Cards Pt.2


Justagirl73 wrote:

Awesome progress Lux! 


Thanks!  It's bittersweet.  I'm trying to make sure my credit reports are spotless (minus the BK, of course!) and too many inquiries are starting to worry me.  And it takes an insane 2 years to fall off!! 

Garden Date: 3/11/17

Community Leader
Senior Contributor
Posts: 5,188
Registered: ‎07-12-2012

Re: Bankruptcy Friendly Credit Cards Pt.2


luxeprw9 wrote:

Scupra wrote:
Awesome news and congrats on the approvals luxe! Which Citi card did you apply for? That's an awesome SL for Discover!!

Thanks Scupra!  I can't fully enjoy it though.  I just have an uneasy feeling about the inquiries on my CR.  I'm up to 4 now.

 

I wanted to apply for the Citi Costco card because that seemed to be the one where most BK'ers were getting approval.  But I don't have (or need or want) a membership to Costco.  So I applied for the Citi Simplicity.  I'm still upset on the wasted inquiry!  Oh well, can't get it back!


I definitely think the Costco card has lighter UW standards. Oh well, next time! 4 inquiries is nothing to worry about Smiley Happy Relax

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
732 EQ FICO 06/2017
740 TU FICO 06/2017
735 EX FICO 06/2017
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Valued Member
Posts: 33
Registered: ‎09-01-2015

Re: Bankruptcy Friendly Credit Cards Pt.2

luxeprw9, if you're just wanting to get in with Citi, go for their secured card. Mine is graduating next month (they already sent me a letter confirming this) and will be a Citi Diamond Preferred. I'm 3 years out of BK at this point, so I was a year and a half when I got it.
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Registered: ‎06-05-2015
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Re: Bankruptcy Friendly Credit Cards Pt.2

Great advice from Curious Relic. I got my secured card last year and it will unsecured in the next few months. Good way to get in with CITI although in the mean time I got a Costco and SEARS card.

CO-Venture-23k, CO Venture One -46k, BC Ring 7.5k, BC Cash Fwd 4.5k, BC Arrival+ 5k, JC Penny 5k, AKUSA FCU -10k , Comenity Blue Nile 7k, Cabelas WFB 8k, DC-7k, Kohls-3k, CHASE Amazon Prime VS 500, BofA AK Air Siggy 7.8k, Synchrony Cathay Pacific Visa 6k, PFCU Plat Rewards Siggy 17k PFCU AX Travel Rewards 20.5 NFCU Go Rewards 24k , NFCU Cash Rewards 31.5k, CLOC 15k, CITI Costco 9.5k, GAP VISA Synchrony $3250, Target 1k, Macy's 3k, VS, 750, BLIS PAY 5k, Pay Pal 1k, Virgin America 10k, 246k total available credit. Utiliz-5% Current FICO EQ-692, EX 708 TU 705 Chapt 7 BK D/C 11-2012. Starting scores 520-550
Regular Contributor
Posts: 134
Registered: ‎06-28-2016

Re: Bankruptcy Friendly Credit Cards Pt.2

@TXinandout ;

Yeah I still have have my BK7 reporting. D/C 01/2011.
----------------------------------------------------------------------------------

TXinandout :

Thank you for the feedback. I will apply after I reach my first year post-discharge. Do you have a BK on your file?

----------------------------------------------------------------------------------

JR_TX wrote:
Hey all!

Just thought that I'd come back here to possibly be of help to someone with BK on CR.

Penfed is also BK friendly. It's open to everyone (civilians) just need to make a $17 donation to their charity to become a member. There's a thread here by baller4life about 400 pages long about Penfed. They're an Equifax only puller. If you're 1 year post bk discharge and have an EQ Fico of 650+ there's a very good chance you'll get approved for their CCs.
I just joined yesterday and app'd for their Travel Rewards Amex and got approved within an hour for a $10K SL!

It's been a slow and sometimes painful BK journey for us but everything turns out well.

'Wish us all the best!
In the garden 'til 02/2018

Rebuilding since FICO 500s in 2011

8/15/16 Fico8 EX705 EQ709 TU697
Contributor
Posts: 170
Registered: ‎05-06-2008
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Re: Bankruptcy Friendly Credit Cards Pt.2


Curious_Relic wrote:
luxeprw9, if you're just wanting to get in with Citi, go for their secured card. Mine is graduating next month (they already sent me a letter confirming this) and will be a Citi Diamond Preferred. I'm 3 years out of BK at this point, so I was a year and a half when I got it.

I was thinking about that after talking to one of Citi's reps today.  If you don't mind me asking, what was the dollar amount you used for the secured card?  And will the unsecured card have the same limit?  I did that with my BOA card and it unsecured after about 11 months but has been stuck at $500 since 2014.  And they declined my request for a CLI.   I don't want to go thru that again.

 

I may need to focus on my relationship with Capital One.  Maybe it's best to see if I can PC that card and get a higher limit. 

 

I've read so many posts were everyone speaks about really spending heavily on a card in order to get a CLI.  The issue with that, for me, is that I'm trying to pay off my student loans and that's where all my money goes!!  Other than gas and groceries, there is very little spending out side of that. 

 

 

Garden Date: 3/11/17

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Valued Member
Posts: 33
Registered: ‎09-01-2015
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Re: Bankruptcy Friendly Credit Cards Pt.2

My Citi secured is $500. The letter said that it was graduating and will become a Diamond Preferred, but it didn't say anything about the credit line. My goal is to PC to Double Cash. Will try next month when it officially graduates.
Regular Contributor
Posts: 212
Registered: ‎12-07-2016
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Re: Bankruptcy Friendly Credit Cards Pt.2


luxeprw9 wrote:

Curious_Relic wrote:
luxeprw9, if you're just wanting to get in with Citi, go for their secured card. Mine is graduating next month (they already sent me a letter confirming this) and will be a Citi Diamond Preferred. I'm 3 years out of BK at this point, so I was a year and a half when I got it.

I was thinking about that after talking to one of Citi's reps today.  If you don't mind me asking, what was the dollar amount you used for the secured card?  And will the unsecured card have the same limit?  I did that with my BOA card and it unsecured after about 11 months but has been stuck at $500 since 2014.  And they declined my request for a CLI.   I don't want to go thru that again.

 

I may need to focus on my relationship with Capital One.  Maybe it's best to see if I can PC that card and get a higher limit. 

 

I've read so many posts were everyone speaks about really spending heavily on a card in order to get a CLI.  The issue with that, for me, is that I'm trying to pay off my student loans and that's where all my money goes!!  Other than gas and groceries, there is very little spending out side of that. 

 

 


can you use a card to pay your student loans instead of a bank account?

 

If so, just pay your student loan with the credit card, then pay off the credit card balance.  You can do that multiple times a month paying down the balance of your credit card if you have a low limit.  


BK 7 Starting Scores (12/2016): EQ-528. TU-486. EX-530.
Current Scores (6/2017): EQ-663. TU-658. EX-665.
Goal for 2017: 650's. - almost there!!
Established Contributor
Posts: 972
Registered: ‎04-14-2016
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Re: Bankruptcy Friendly Credit Cards Pt.2


enjoimorenow wrote:

luxeprw9 wrote:

Curious_Relic wrote:
luxeprw9, if you're just wanting to get in with Citi, go for their secured card. Mine is graduating next month (they already sent me a letter confirming this) and will be a Citi Diamond Preferred. I'm 3 years out of BK at this point, so I was a year and a half when I got it.

I was thinking about that after talking to one of Citi's reps today.  If you don't mind me asking, what was the dollar amount you used for the secured card?  And will the unsecured card have the same limit?  I did that with my BOA card and it unsecured after about 11 months but has been stuck at $500 since 2014.  And they declined my request for a CLI.   I don't want to go thru that again.

 

I may need to focus on my relationship with Capital One.  Maybe it's best to see if I can PC that card and get a higher limit. 

 

I've read so many posts were everyone speaks about really spending heavily on a card in order to get a CLI.  The issue with that, for me, is that I'm trying to pay off my student loans and that's where all my money goes!!  Other than gas and groceries, there is very little spending out side of that. 

 

 


can you use a card to pay your student loans instead of a bank account?

 

If so, just pay your student loan with the credit card, then pay off the credit card balance.  You can do that multiple times a month paying down the balance of your credit card if you have a low limit.  


And if your lender doesn't accept plastic, there's always Plastiq

 






BK7 Discharged 4/27/2016 - Fico 8 as of 05/18/2017: EX 655 / TU 660 / EQ 676 - Follow my Journey Here

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