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Valued Contributor
starry1
Posts: 2,069
Registered: ‎11-29-2012

Re: Bankruptcy friendly credit cards

[ Edited ]

I also will be bumping Chase, hopefully some time this year, in favor of NFCU.   Our owner died on Christmas Eve, and right now is not a good time to switch since there's a lot of turmoil at work and I want to slide in under the radar for awhile.   I will just push savings deposits to NFCU (once I join) until then.


Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 6/2614 TU 624; EQ 635; EX 610
Goal Score:  625 for now– New goal 675

Cap1 sec $700 (SD) / FP $300 (closed) / Fingerhut $1300 / nRewards $2.5k / cashRewards $1.5k / NavChek $2.5k
Amazon $1.7k / Walmart $1k / Von Maur $200 /Firestone $1.2k (last app 10/08/13)
Valued Member
softballgirl29
Posts: 44
Registered: ‎08-26-2012

Re: Bankruptcy friendly credit cards

Just an update...I was approved for two new credit cards today. Victoria Secret and Express. Up until now, I only had Visa and Mastercard since my BK which was discharged 8/12. Now I have a total of five. Two visa, one mastercard and these two new department store cards. Not bad considering that I am only six months post-discharge!

BK7 Filed 5/14/12 BK7 Discharged 8/17/12
Latest EQ Fico - 631 Latest TU Fico - 632 Latest EXP FAKO - 651
In my wallet: Cap One CL $250, Cap One Rewards CL $2750, Credit One CL $800, NFCU CL $6000, HH Gregg CL $1500, Care Credit CL $800 Express CL $450, Victoria Secret CL $450, Kohl's CL $300. Cap One Auto Loan $25k
Frequent Contributor
grassfeeder
Posts: 329
Registered: ‎03-01-2012

Re: Bankruptcy friendly credit cards


softballgirl29 wrote:

Just an update...I was approved for two new credit cards today. Victoria Secret and Express. Up until now, I only had Visa and Mastercard since my BK which was discharged 8/12. Now I have a total of five. Two visa, one mastercard and these two new department store cards. Not bad considering that I am only six months post-discharge!


That's fantastic.  I was discharged on 10/31/12 and I have only been able to obtain a local CC secured card.  I have yet to be able to break into Cap One.

 

I did get an auto loan for $!5k through Wells Fargo last month @ 10.99% but I only did so cause I put down 60% of the cars selling price in cash.

 

Going to give it a couple more months for the car loan to settle in and take hold, keep current on everything else and see if Cap One plays ball then,  If not, I may bend and seek a secured card from them in hope it will lead to better in the coming months.

 

Note my FICO is 621 currently.

5/12- EQ FICO - 508 / TU FICO - 490 / EX FAKO - 550 Ch. 7 BK - 7/12 (discharge 10/12)
6/14 - EQ FICO 674 / 4/14 - TU FICO - 636 / EX FICO - 654

NFCU cashRewards $10,000 - NFCU Flagship Visa $8,000 - First Tech C.U. Cash Rewards $5,000 - Barclays Apple Card $2,000 - JCrew $4650
In the garden starting 3/1/14 till ???
Member
Hampton08
Posts: 7
Registered: ‎10-23-2011

Re: Bankruptcy friendly credit cards

Hello Scupra,

I was wondering what NFCU stands for and also what kind of interest your getting on your new card.

 

Thank you!!

Valued Contributor
Scupra
Posts: 1,143
Registered: ‎07-12-2012

Re: Bankruptcy friendly credit cards


Hampton08 wrote:

Hello Scupra,

I was wondering what NFCU stands for and also what kind of interest your getting on your new card.

 

Thank you!!


NFCU stands for Navy Federal Credit Union. I am getting 15% on the new one. I dont plan to carry a balance though. I love that I can easily transfer money from checking to my credit card on my phone. I usually use my credit card all day and transfer the exact amount I spent to the credit card. Pay in full daily  :smileyhappy:

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
691 EQ FICO 06/2014
684 TU FICO 06/2014
682 EX FICO 04/2014
$7k NFCU Flagship Sig - $8.5k NFCU cashRewards Sig - $15k NavChek - $2k Cap1 Quicksilver - $3k Barclays Arrival +
Regular Contributor
somotao
Posts: 227
Registered: ‎08-13-2011

Re: Bankruptcy friendly credit cards

For those interested I got approved  for the Barclays Apple Visa  and Discover More cards back in October last year. Although with Discover I got the usual 5-7 day message, I recieved a call from Discover, after confirming my identity the lady proceded to ask about why I wanted the card, then asked me why I filed BK7 in Aug 2010. I explained everything to her, she then went on to talk about my current credit card accounts with capital one and how it looked like i had been managing my credit very well and approved me for $1000. Been gardening every since and plan to apply for one or two GECRB cards next month especially since they appear to be BK friend and very genrous with CLIs. It is worth noting that I spaced my applications out....my first card post BK7 (capital one) was a year after my discharge date....I probably should have applied sooner...but anyway it was about a year between my capital one applications and my Barclays/discover applications.


Starting Score: 500s
Current Score: EQ: 693myFICO(9/7/12), TU: 710myFICO(9/2/12), EX Plus:701(lp,4/16/12)
Goal Score: 700

Wallet: Discover IT $2000, Capital One Platinum $12000, Barclays Rewards $4700, Walmart $2600, Amazon Store Card $1250.
Keep the Hearth of your Thoughts Pure, by so doing you will be Happy and bring Peace!
New Member
Jakookie
Posts: 4
Registered: ‎02-18-2013

Re: Bankruptcy friendly credit cards

Thanks to the information I found here, I applied for the Barclay Apple Visa card yesterday and got approved right away with a $700 limit.  My BK was discharged  11/2011.  I have an Unsecured Visa (had it for 4 months now) with a $500 limit from a CU and a small secured loan ($750) from the same CU.  The loan is for 18 months and I received it 12 months ago so I plan to renew it for an unsecured (hopefully) loan for  a 12 month period. I also have student loans being reported as current although they are simply deferred.  So with this new Barclay Apple Visa, I now have 2 Credit Cards.  The CU card has a $29 annual fee.  Should I stop at 2 cards for now or should I add another? My FICO score is 653, I would like to reach 700 by Nov. 2013 that way I can HOPEFULLY obtain a mortgage.  Any suggestions?  I don't want to ever have more than 3 cards PERIOD. The final card I would like to have is a United or AAirlines Rewards Card through Chase or Citibank.  I thought I wanted an AMEX Card but I'm pretty sure I won't get a approved for one for another 9 years and they aren't as widely accepted as V & MC.  I have been banking with Citibank for over 10 years now and with Chase for about 2 years although that means absolutely nothing when you have a BK on your CR.  I'm just looking for things I should/could do to increase my score to 700 by 11/2013.  I see where someone said to cancel a card that had an annual fee at 11 months that way the person avoids paying the annual fee but doesn't that drop your score tremendously or is the card still too new to hurt you that bad?

Regular Contributor
somotao
Posts: 227
Registered: ‎08-13-2011

Re: Bankruptcy friendly credit cards

Congrats on your Barclays approval...You're on the right track. With a BK on one's credit report it makes crossing the 700 mark very challenging but not impossible..If you are going to get a third card I would recommend you look at one of the GECRB cards (Walmart, JC Penny are the easiest to get approaved for). They are BK friend if you did not included them in your filing and They are known to provided people with CLIs every four months.....and will likely grow very quickly. To get your credit score make sure you report a utilization between 2 and 9% on one card...while any other card you have should report zero balance. Keep doing this monthly and you will see your credit score rise. IMO I would keep the credit union card open. A lot of people on myfico recommend having three cards.


Starting Score: 500s
Current Score: EQ: 693myFICO(9/7/12), TU: 710myFICO(9/2/12), EX Plus:701(lp,4/16/12)
Goal Score: 700

Wallet: Discover IT $2000, Capital One Platinum $12000, Barclays Rewards $4700, Walmart $2600, Amazon Store Card $1250.
Keep the Hearth of your Thoughts Pure, by so doing you will be Happy and bring Peace!
Member
BluSkye
Posts: 7
Registered: ‎02-26-2013

Re: Bankruptcy friendly credit cards

Oh my gosh, I'm so excited! I just applied for Barclays Rewards Card, and was approved with a $3200 limit! My highest limit in recovery thus far! (BK filed Nov 2007 and discharged Feb 2008 so I'm five years out.) Prior to applying, I pulled MyFico and my TU score tonight was 725 and EQ was 712. In recovery I hadn't been focusing too much on credit cards and finally got fed up with low limits ($1250 Cap One and $300 HSBC-soon-to-be-Cap-One) and decided to suck it up and apply tonight so this is actually really exciting to me!

 

One question. Recon, as I understand it, is a request to reconsider xyz. ...If you got declined, it's a request to reconsider being approved, for example. But is it true you can also request to reconsider for a higher CL? Is this prudent? (I don't want to push my luck!!) Otherwise, how long should I wait to request a CLI?

 

Weeeeeeeeeeee! :smileyhappy: Thanks for any input you could provide!

Valued Contributor
Scupra
Posts: 1,143
Registered: ‎07-12-2012

Re: Bankruptcy friendly credit cards


BluSkye wrote:

Oh my gosh, I'm so excited! I just applied for Barclays Rewards Card, and was approved with a $3200 limit! My highest limit in recovery thus far! (BK filed Nov 2007 and discharged Feb 2008 so I'm five years out.) Prior to applying, I pulled MyFico and my TU score tonight was 725 and EQ was 712. In recovery I hadn't been focusing too much on credit cards and finally got fed up with low limits ($1250 Cap One and $300 HSBC-soon-to-be-Cap-One) and decided to suck it up and apply tonight so this is actually really exciting to me!

 

One question. Recon, as I understand it, is a request to reconsider xyz. ...If you got declined, it's a request to reconsider being approved, for example. But is it true you can also request to reconsider for a higher CL? Is this prudent? (I don't want to push my luck!!) Otherwise, how long should I wait to request a CLI?

 

Weeeeeeeeeeee! :smileyhappy: Thanks for any input you could provide!


First of all congrats!! Sounds like you have three cards now, perfect amount. Yes, you can recon the limit if you wanted to. Barclays is very good to recon with as well. On the other hand, I have heard of people calling to recon the limit and get the entire card yanked! Just be aware. Very nice starting limit though.

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
691 EQ FICO 06/2014
684 TU FICO 06/2014
682 EX FICO 04/2014
$7k NFCU Flagship Sig - $8.5k NFCU cashRewards Sig - $15k NavChek - $2k Cap1 Quicksilver - $3k Barclays Arrival +

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