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Bankruptcy Friendly Credit Cards Pt.2

Regular Contributor

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!

Message 601 of 952
Regular Contributor

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!! 

Message 602 of 952
Community Leader
Senior Contributor

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
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 603 of 952
Valued Member

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.
Message 604 of 952
Valued Contributor

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.

AX BCP 15k, (AU on ED 7k,) BC Ring 11.5K, BC Arrival+ 9.5k, BC AA Aviator 4K, AKUSA FCU -10k , Comenity Blue Nile 11k, Discover (2) 11k , Kohls-4k, CHASE Amazon Prime VS 500, BofA AK Air Siggy 9.8k, BofA Secured $500, Synchrony Cathay Pacific Visa 9k, Synchrony E-bates Visa $2.4k, PFCU Plat Rewards Siggy 18k, PFCU Power Cash Rewards 21.5 k, NFCU Go Rewards 24k , NFCU Flagship 31.5k, CLOC 15k, CITI Costco 9.5k, GAP VISA Synchrony $3250, Target 1k, BLIS PAY 5k, Pay Pal 1k, CO Venture 23k, 259k total available credit. Utiliz-2%, Current FICO EQ-707, EX 702,TU 715 Chapt 7 BK D/C 11-2012. Starting scores 520-550
Message 605 of 952
Frequent Contributor

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?

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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 BK7 dc in 01/2011 with FICO8 in the 500s
12/01/17 Fico8 EX 752 EQ 752 TU 701
INQs EX 5 EQ 5 TU 3

Penfed TR Amex $10K | C1 QS $12K | Discover it $7.8K | Discover More (AU) $11.7K | Marvel MC $8K | Barclay Financing Visa $7.2K | BoA CR $2.5K | Blispay $3K | Citi BB Visa (AU) $8K | WalMart $6K
Message 606 of 952
Regular Contributor

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. 

 

 

Message 607 of 952
Valued Member

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.
Message 608 of 952
Frequent Contributor

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 Scores (12/2016): EQ-528. TU-486. EX-530.
Current Scores (11/2017): EQ-671. TU-665. EX-669.
Goal for 2017: 650's. - made it!! next stop 680's. www.cartkingz.com
Message 609 of 952
Established Contributor

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

 

Message 610 of 952