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Bankruptcy Friendly Credit Cards Pt.2

Valued Member

Re: Bankruptcy Friendly Credit Cards Pt.2

Can someone tell me how you put all your cards and credit score info at the bottom of your post? Thanks

Chapter 7 Bk discharged 12/14 /Capital One QS1$1300/Capital One QS$1300/Jarred's$1500/Walmart$6000/Lowe's$12000/Amazons$5000Old Navy $5000/Banana Republic $5000/TJ Max $300David's Bridal $1550Gap $5000/SAMs CLub $7000/Gander Mountain $500/Merrick Visa $700/Ebates MC $7000/PP MC $4500/JC Penny $5000/Men's WH $1000/ BP VISA $3500/I have the following scores per credit Applications/Target Equifax 630/transunion Barclays letter 709/Experian per NASA 654.Not to bad because 6 months ago I was in the 500's
Message 51 of 952
Community Leader
Senior Contributor

Re: Bankruptcy Friendly Credit Cards Pt.2


Stepphanie wrote:

Can someone tell me how you put all your cards and credit score info at the bottom of your post? Thanks


http://ficoforums.myfico.com/t5/SmorgasBoard/THIS-IS-HOW-YOU-ADD-CREDIT-CARD-PICS-TO-YOUR-PROFILE/td...

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
730 EQ FICO 11/2017
750 TU FICO 11/2017
735 EX FICO 11/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 52 of 952
Community Leader
Valued Contributor

Re: Bankruptcy Friendly Credit Cards Pt.2

OK, finally approved for BoA secured card yesterday and learned a bit more about it. App'd 5/13, gave them my bank routing & account # on the app so they could ACH wothdraw the deposit instead of mailing them a check. Money was withdrawn from my account the next day but as of Wednesay it was still showing "under review" so I called a secured card credit analyst (backdoor #s, sticky in Credit Card Applications forum). Rep said my account was under "collateral hold", nothing he could do about that, and said BoA can be 'slow' in crediting external bank credits. I made only a $500 deposit figuring I could add more later, but rep said while I can add to my deposit it takes another HP to increase the CL. While the app says the secured card is automatically evaluated for graduation to unsecured at 1 year, rep told me the minimum is 5 months for consideration to upgrade. I told him I was thinking I'd try at 6 mos. ,and rep said that with my credit and 'good' usage & payment history I'd 'probably' be approved. BoA secured card has a $39 AF, charged on account opening, and no reward program - but several have posted in the CC forum that if call a couple times they'll give you rewards. I'm not going to bother, just use it, PIF, and mark 6 mos on my calendar. I'm not sure what the minimum CS is needed for the BoA secured card, I have seen in the CC forum they do favor younger folks with thin credit files get approved with under 600 score. Those who have burned BoA recently - BK/CO/60+ late - may want to look at other secured cards.

 

Those considering a secured card for a general credit rebuild might want to look at other secured cards - CU, Cap One - but avoid secured cards that don't graduate to unsecured - Merrick is one that doesn't graduate. At 4+ years post BK & CS around 700 I way past needing a secured card to rebuild. I'm doing the BoA secured to rebuild specifically with BoA - I included 1 BoA CC in my BK7 for $8k. I want a Fidelity Amex issued by FIA/BoA with 2% rewards when credited back to a Fidelity account, I have an IRA and savings stash with Fidelity. My plan is to get my secured upgraded to unsecured at 6 mos, and then app for Fidelity Amex within the following 6 mos.

 

 


Fico 08: 720/721/719 TU/EX/EQ
Message 53 of 952
Established Contributor

Re: Bankruptcy Friendly Credit Cards Pt.2


DaveInAZ wrote:

OK, finally approved for BoA secured card yesterday and learned a bit more about it. App'd 5/13, gave them my bank routing & account # on the app so they could ACH wothdraw the deposit instead of mailing them a check. Money was withdrawn from my account the next day but as of Wednesay it was still showing "under review" so I called a secured card credit analyst (backdoor #s, sticky in Credit Card Applications forum). Rep said my account was under "collateral hold", nothing he could do about that, and said BoA can be 'slow' in crediting external bank credits. I made only a $500 deposit figuring I could add more later, but rep said while I can add to my deposit it takes another HP to increase the CL. While the app says the secured card is automatically evaluated for graduation to unsecured at 1 year, rep told me the minimum is 5 months for consideration to upgrade. I told him I was thinking I'd try at 6 mos. ,and rep said that with my credit and 'good' usage & payment history I'd 'probably' be approved. BoA secured card has a $39 AF, charged on account opening, and no reward program - but several have posted in the CC forum that if call a couple times they'll give you rewards. I'm not going to bother, just use it, PIF, and mark 6 mos on my calendar. I'm not sure what the minimum CS is needed for the BoA secured card, I have seen in the CC forum they do favor younger folks with thin credit files get approved with under 600 score. Those who have burned BoA recently - BK/CO/60+ late - may want to look at other secured cards.

 

Those considering a secured card for a general credit rebuild might want to look at other secured cards - CU, Cap One - but avoid secured cards that don't graduate to unsecured - Merrick is one that doesn't graduate. At 4+ years post BK & CS around 700 I way past needing a secured card to rebuild. I'm doing the BoA secured to rebuild specifically with BoA - I included 1 BoA CC in my BK7 for $8k. I want a Fidelity Amex issued by FIA/BoA with 2% rewards when credited back to a Fidelity account, I have an IRA and savings stash with Fidelity. My plan is to get my secured upgraded to unsecured at 6 mos, and then app for Fidelity Amex within the following 6 mos.

 

 


Is Fidelity AmEx BK friendly?

BK Discharged 9/11

Cap1 Quiksilver Visa Signature $41k| Discover IT $16k| Barclays Commence World MasterCard $11.7k|Barclay Cash Forward $4.5k| BOA Cash Rewards $8.4k| BOA BBR $6k|AMEX BCE $6.6k| AMEX Schwab Investor Card $5k|AMEX BCP $9.8k| Huntington Voice $3.8k| Chase Amazon Prime Visa $1k
Message 54 of 952
Community Leader
Senior Contributor

Re: Bankruptcy Friendly Credit Cards Pt.2

The only Fidelity AMEX approval I have seen online was at 7 years post BK. Not much much data on it!
Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
730 EQ FICO 11/2017
750 TU FICO 11/2017
735 EX FICO 11/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 55 of 952
Community Leader
Valued Contributor

Re: Bankruptcy Friendly Credit Cards Pt.2


northface28 wrote:

Is Fidelity AmEx BK friendly?


No. BoA secured card can be, and that was the main point of my post. Fidelity Amex within 5 years of BK discharge is just my personal goal, and why I'm going through the hassle of BoA secured this late in my rebuild.


Fico 08: 720/721/719 TU/EX/EQ
Message 56 of 952
Established Contributor

Re: Bankruptcy Friendly Credit Cards Pt.2


DaveInAZ wrote:

OK, finally approved for BoA secured card yesterday and learned a bit more about it. App'd 5/13, gave them my bank routing & account # on the app so they could ACH wothdraw the deposit instead of mailing them a check. Money was withdrawn from my account the next day but as of Wednesay it was still showing "under review" so I called a secured card credit analyst (backdoor #s, sticky in Credit Card Applications forum). Rep said my account was under "collateral hold", nothing he could do about that, and said BoA can be 'slow' in crediting external bank credits. I made only a $500 deposit figuring I could add more later, but rep said while I can add to my deposit it takes another HP to increase the CL. While the app says the secured card is automatically evaluated for graduation to unsecured at 1 year, rep told me the minimum is 5 months for consideration to upgrade. I told him I was thinking I'd try at 6 mos. ,and rep said that with my credit and 'good' usage & payment history I'd 'probably' be approved. BoA secured card has a $39 AF, charged on account opening, and no reward program - but several have posted in the CC forum that if call a couple times they'll give you rewards. I'm not going to bother, just use it, PIF, and mark 6 mos on my calendar. I'm not sure what the minimum CS is needed for the BoA secured card, I have seen in the CC forum they do favor younger folks with thin credit files get approved with under 600 score. Those who have burned BoA recently - BK/CO/60+ late - may want to look at other secured cards.

 

Dave congrats on your approval.  I'm sure you'll have no problem graduating early.  I PC'ed mine to a Cash Rewards as their bonus program was fairly decent. I asked the CA about waving the AF.... she told me I'd have to apply for a similar card with no AF and close this one out if approved. Guess my rewards will pay for my AF and after a nice CH with BoA , I'll app for the new card and phase this one out.

If you activate your new card online their computer will remember any old BOA online accts .Personally,  I though this would be a good chance to see if BoA would backdate my new acct.... but no luck.  Also be sure to delete any non existant pre BK checking accts from Bill Pay (IT REMEMBERS!) or it may default to these accts to pay your CC. Unfortunately this was my experience! 

 

 

 

 


 

Message 57 of 952
Community Leader
Valued Contributor

Re: Bankruptcy Friendly Credit Cards Pt.2


jim44 wrote:
 

Dave congrats on your approval.  I'm sure you'll have no problem graduating early.  I PC'ed mine to a Cash Rewards as their bonus program was fairly decent. I asked the CA about waving the AF.... she told me I'd have to apply for a similar card with no AF and close this one out if approved. Guess my rewards will pay for my AF and after a nice CH with BoA , I'll app for the new card and phase this one out.

If you activate your new card online their computer will remember any old BOA online accts .Personally,  I though this would be a good chance to see if BoA would backdate my new acct.... but no luck.  Also be sure to delete any non existant pre BK checking accts from Bill Pay (IT REMEMBERS!) or it may default to these accts to pay your CC. Unfortunately this was my experience! 

 

 


Thanks for the info JIm, but disappointing about that AF carrying over to Cash Rewards, but I'll deal with it. Also disappointing they remember any old BoA online accounts, I had that problem with Lowe's and it caused several headaches for activating new card & paperless statements. I'll check the URL BoA gives to activate/create online account and delete any cookies for that in my browser, still using the same PC as pre-BK, hopefully that will kill BoAs long memory. And yeah, the pre-BK bank account I used for bill pay on the old BK discharges BoA account is long since closed, I'll make sure to delete it & put in new banking info.


Fico 08: 720/721/719 TU/EX/EQ
Message 58 of 952
Valued Member

Re: Bankruptcy Friendly Credit Cards Pt.2


Scupra wrote:

northface28 wrote:

Scupra wrote:

Dave: no problem! The other thread was kind of old but I did like the idea of it. I have not given Bank of America a thought. When I was very young I had a CO for about $500 with them. 

 

StartingOver: Thanks for the Citi info! I had no idea on that one Smiley Happy 


I got in with BOA, the $99/$500 offer, got to start somewhere. Card acutally arrived today and it simply magnificent.



Scupra wrote:

northface28 wrote:

Scupra wrote:

Dave: no problem! The other thread was kind of old but I did like the idea of it. I have not given Bank of America a thought. When I was very young I had a CO for about $500 with them. 

 

StartingOver: Thanks for the Citi info! I had no idea on that one Smiley Happy 


I got in with BOA, the $99/$500 offer, got to start somewhere. Card acutally arrived today and it simply magnificent.


Awesome! Does anyone have specific info as to when Bank of America will consider for secured card post BK?


I was approved for a Bank of America secured exactly 1 year post discharge for $1000.  I have deposit accounts and a brokerage with BOA. However, I burned them in bankruptcy to the tune of 120K


 

Message 59 of 952
Community Leader
Valued Contributor

Re: Bankruptcy Friendly Credit Cards Pt.2


SEBanker wrote:

I was approved for a Bank of America secured exactly 1 year post discharge for $1000.  I have deposit accounts and a brokerage with BOA. However, I burned them in bankruptcy to the tune of 120K

 

Wow! Did they graduate your secured card to unsecured? If so, how long did it take?


Fico 08: 720/721/719 TU/EX/EQ
Message 60 of 952