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Contributor
sc2761
Posts: 93
Registered: ‎04-13-2011
0

Bankruptcy friendly credit cards

Some of the BK friendly cards I know of are Cap One, Orchard Bank, Hooters, and some other high fee ones.  Recently I also found out through research and questions that Barclays cards are BK friendly and have a no Annual Fee option, they generally have no rewards though and have decent credit lines.  The apple and priceline versions of these cards seem to be popular post BK options.  Anyone know if the other versions are BK friendly, like the priceline for example.  These are all available at the barclays cards website.  They are the old Juniper cards, but barclays had bought them out.  Besides these barclays cards, anyone else have input on which other credit cards are BK friendly?  Thank you all for any input/feedback!!


Starting Score: After BK d/c of 7/7/10: EQ Fico 629; TU Fico 579; EX Quizzle 610
Current Score 11/30/13: All Fico's EQ 668; TU 689; EX 666; and Barclay's Fico showing 650
Goal Score: 700 for all

12/2010: Cap One Platinum MC $3500; 8/2011: Cap One Quicksilver One MC ($1000); 4/2012: Barclays Rewards MC ($7500); 12/2013: Logix Platinum Rewards Visa ($15000); 12/2013: DCU Platinum Rewards Visa ($3000).

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Established Member
CreditByte
Posts: 29
Registered: ‎06-12-2011
0

Re: Bankruptcy friendly credit cards

Your scores seem reasonably decent. So when did you apply?



"Chapter 7 Bankruptcy (05/17/2011)"
Starting Score: EQ 557, TU 544, EX 562
Current Score: EQ 621, TU 601, EX 599 (06/13/2011)
Goal Score: 700
Capital One - No Hassle Cash Rewards CC
Orchard Bank credit card (high interest rate) Not using

Contributor
sc2761
Posts: 93
Registered: ‎04-13-2011
0

Re: Bankruptcy friendly credit cards

I have not applied for the Barclay's card(s) yet.  I am waiting a few weeks until I'm 1 year out from d/c of chap 7 which was 7/7/10.  The Cap One is the only card I have right now since 12/2010.  I want another one with a decent line and preferably no AF, this is so I don't have to close them down the line.  As far as my scores, what I have done so far is dispute all the accounts that should be IIB and make sure the balance is zero on all of them.  My other scores are higher than TU for some reason, and I believe its due to average age of accounts.  I had an old Citi card from 1995 that deleted its line on my report after it was d/c, sucks!  Oh well, will slowly rebuild and I hope getting another line helps with that and my score(s).  Anybody else applied for any of the Barclays cards and which ones have approved either instantly or after recon?  Thanks.


Starting Score: After BK d/c of 7/7/10: EQ Fico 629; TU Fico 579; EX Quizzle 610
Current Score 11/30/13: All Fico's EQ 668; TU 689; EX 666; and Barclay's Fico showing 650
Goal Score: 700 for all

12/2010: Cap One Platinum MC $3500; 8/2011: Cap One Quicksilver One MC ($1000); 4/2012: Barclays Rewards MC ($7500); 12/2013: Logix Platinum Rewards Visa ($15000); 12/2013: DCU Platinum Rewards Visa ($3000).

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Established Member
CreditByte
Posts: 29
Registered: ‎06-12-2011
0

Re: Bankruptcy friendly credit cards

Ok. You wouldnt have a problem getting a credit at your choice right now. You are at a very decent stage.  :smileyhappy:  I have Capital One No rewards card &  Orchard Bank. I am not trying to use Orchard Bank too much because the APR is huge! but it was 1 of the first credit cards I could get.  Do you know anyone whos gotten the Barclays?

 

Thank you!

 

:smileyhappy:

 



"Chapter 7 Bankruptcy (05/17/2011)"
Starting Score: EQ 557, TU 544, EX 562
Current Score: EQ 621, TU 601, EX 599 (06/13/2011)
Goal Score: 700
Capital One - No Hassle Cash Rewards CC
Orchard Bank credit card (high interest rate) Not using

Contributor
sc2761
Posts: 93
Registered: ‎04-13-2011
0

Re: Bankruptcy friendly credit cards

I personally don't know anyone, but I have messaged back and forth with one of the moderators here who has one.  I believe there also may be a thread associated with it as well.  I was told on this forum as well as another, that the barclays (which is the old juniper card) is BK friendly if your one year out.  I will update this thread after I apply in a few weeks, but don't know which barclays card to apply for yet.


Starting Score: After BK d/c of 7/7/10: EQ Fico 629; TU Fico 579; EX Quizzle 610
Current Score 11/30/13: All Fico's EQ 668; TU 689; EX 666; and Barclay's Fico showing 650
Goal Score: 700 for all

12/2010: Cap One Platinum MC $3500; 8/2011: Cap One Quicksilver One MC ($1000); 4/2012: Barclays Rewards MC ($7500); 12/2013: Logix Platinum Rewards Visa ($15000); 12/2013: DCU Platinum Rewards Visa ($3000).

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Moderator Emeritus
beamMEup
Posts: 4,473
Registered: ‎12-31-2008
0

Re: Bankruptcy friendly credit cards

Just want to make a small clarification that Barclays cards include Juniper, as well as the Priceline and Apple cards you're inquiring about (and a host of other cards as well). 

I.e. my card is a Barclays Juniper.  It was when I app'd for it, and it is now.  So you can app for a Barclays Juniper, a Barclays Priceline, a Barclays Apple, etc.

Those three Barclays cards are known for being BK friendly, but Barclays likes to see some history before they approve you.

 

Hope that helps clear things up a little.

Just puttin' syrup on something, don't make it pancakes.
Contributor
sc2761
Posts: 93
Registered: ‎04-13-2011
0

Re: Bankruptcy friendly credit cards

Thanks for the clarification beamMEup.  Although I cannot find anywhere that you can apply for Barclays Juniper card.  Strange!  On their website it shows a Barclays Juni card, but there seems to be no way to apply for it.  When you say you need history, is the 1 year from BK sufficient.  When I apply I will have about 7 mo history via Cap One of on time payments and my school loan has been reporting ontime the whole time since BK d/c of 7/7/10.  I also have a question about utilization if you don't mind.  I usually charge up to 3% of my available line on my cap one and then my statement prints with that balance.  I then pay it in full a week before the due date just to make sure.  Then I repeat.  My Sprint bill gets charged on it each month and thats about it.  When Cap One reports to the CRA's, it just shows that $75 balance each month.  Is this the best way to show utilization?  Basically the CRA think I am using about 3% utilization each month this way or is it better to have the card at a zero balance when it reports to the CRA's.  I think that way it wouldn't really show any usage though.  What do you think about this?  Thanks!


Starting Score: After BK d/c of 7/7/10: EQ Fico 629; TU Fico 579; EX Quizzle 610
Current Score 11/30/13: All Fico's EQ 668; TU 689; EX 666; and Barclay's Fico showing 650
Goal Score: 700 for all

12/2010: Cap One Platinum MC $3500; 8/2011: Cap One Quicksilver One MC ($1000); 4/2012: Barclays Rewards MC ($7500); 12/2013: Logix Platinum Rewards Visa ($15000); 12/2013: DCU Platinum Rewards Visa ($3000).

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Contributor
Hopelives2
Posts: 197
Registered: ‎04-30-2011
0

Re: Bankruptcy friendly credit cards


sc2761 wrote:

it just shows that $75 balance each month.  Is this the best way to show utilization? 


What is your limit on that card?  If it is $840 or more, then you're fine.  If it is the standard, $300 or $500 that Cap 1 gives post BK, then your utilization will be greater than 9% which is bad for FICO scoring purposes.

 

My suggestion would be to carry no balance at statement date.

 

PIF before due date.  Don't charge before statement posts.  Rinse/repeat.

 

There are many who carry a tiny balance that is less than 9% of CL, I just choose to PIF and leave the card alone.

Contributor
sc2761
Posts: 93
Registered: ‎04-13-2011
0

Re: Bankruptcy friendly credit cards

Starting limit was $2000, but it has now increased to $2500.  So your saying to pay in full by due date and then don't charge again until statement prints?  I assume the card will still report some sort of usage to the CRA's?  Thanks


Starting Score: After BK d/c of 7/7/10: EQ Fico 629; TU Fico 579; EX Quizzle 610
Current Score 11/30/13: All Fico's EQ 668; TU 689; EX 666; and Barclay's Fico showing 650
Goal Score: 700 for all

12/2010: Cap One Platinum MC $3500; 8/2011: Cap One Quicksilver One MC ($1000); 4/2012: Barclays Rewards MC ($7500); 12/2013: Logix Platinum Rewards Visa ($15000); 12/2013: DCU Platinum Rewards Visa ($3000).

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Moderator Emeritus
beamMEup
Posts: 4,473
Registered: ‎12-31-2008
0

Re: Bankruptcy friendly credit cards

Remember, sc, that utilization during the month doesn't impact FICO scores (although your cc issuer is surely paying attention).  Use it as much as you like, just be sure your reporting balance is where you want it to be.  If this is your only card, you may want to play around with reporting a zero balance and then reporting a balance less than 9%.  See what works best for you. 

Just puttin' syrup on something, don't make it pancakes.

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