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Posts: 2,402
Registered: ‎11-29-2012
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Re: Bankruptcy friendly credit cards

Is HSBC bk friendly? I have an old co from them, and I included the new owner LVNV in my ch7.

Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 1/22/15 TU 645; EQ 605; EX 633 Goal Score:
 625 for now– New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)
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Posts: 1,063
Registered: ‎05-26-2010
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Re: Bankruptcy friendly credit cards

I don't think HSBC is in the consumer lending business any more, they sold most of their card business to Capital One, including Orchard Bank.

BK7 Filed 8/11/2009 Discharged 11/23/2009. Purchased new home 4/11/2012
Starting Score:11/16/2009 EQ 566 11/16/2009 TU 538
Interim Score: 12/27/2012 EQ 683 09/17/2012 EX (lender) 670 1/01/2013 TU 701
Current Score: 11/06/2013 EQ 708 11/06/2013 EX 702 11/16/2013 702 11/06/2013 TU 729
Goal Score: EQ 740 EX 740 TU 740
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Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
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Re: Bankruptcy friendly credit cards

That's correct. All HSBC cards have been acquired by Capital One. I have an Orchard card that is now Cap1. I still pay my bill at the Orchard website but on the site it says that they aren't taking new applications.

I applied for the Cap1 Cash Rewards card in July and received instant approval with two BKs on my report, 7 from 2003 and a 13 from 2005. The 13 fell off in October and the 7 will fall off August next year. So Cap1 is definitely BK friendly.

If you burned Cap1 in the past, I don't know how forgiving they are.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Community Leader
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Posts: 2,402
Registered: ‎11-29-2012
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Re: Bankruptcy friendly credit cards

[ Edited ]

I'll give it a try in a few months anyway because I'm fairly sure that debt was sold off many years before the takeover. They may or may not have my records and that account is now 9 yrs 10 months and will be deleted from my reports in Feb anyway.


Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 1/22/15 TU 645; EQ 605; EX 633 Goal Score:
 625 for now– New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)
Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
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Re: Bankruptcy friendly credit cards

I think you will get approved even now if your HSBC debt wasn't acquired by Cap1. Do you have any unsecured credit cards at the moment, and if so, for how long?
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Community Leader
Valued Contributor
Posts: 2,402
Registered: ‎11-29-2012
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Re: Bankruptcy friendly credit cards

I have no credit cards and haven't in about ten years. I gave up on credit mostly because it was just too much to manage as a newly single mother, and secondly because my ex was hellbent on getting revenge by ruining my good credit. So I froze my identity and have only financed a couple of vehicles since, no other loans. I needed to learn to live on cash only anyway instead of robbing peter to pay paul all the time. My bk happened because I just could not keep up with the medical bills anymore, and I was desperate enough to hop on the payday loan trainwreck. That and two teenaged boys who eat like starving hogs 24/7.

Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 1/22/15 TU 645; EQ 605; EX 633 Goal Score:
 625 for now– New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)
Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
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Re: Bankruptcy friendly credit cards

I totally understand! I was there. I blacklisted credit cards like they were the plague for about 10 years, started before BKs and extended out until 2008. In 2008, something opened up in me to change how I wanted to do things and that's when I applied for the Orchard. It wasn't instant approval so I was sure I was denied. When it came back approved, I was beyond belief! Just applied for a Chase Freedom yesterday. Was declined but with recon was approved pending final review. Will know by Monday.

I didn't go through the struggles you have had to go through regarding protecting your credit. I can't believe people can be so evil as to try to dominate your credit like that. You did the right thing. I have a little boy so I know they eat like little hogs LOL!

I have only used credit for everyday things. Occasionally, I will split half cash, half debit for "fun" purchases. The Chase card is our ticket to a family vacation. I think the limit will start off low but grow much better than my Cap1 limits. Cap1 is stingy with increases. We have taken cash only vacations which have been nightmares as hotels and rental cars took the deposits from my checking account as there are no holds with debit cards. It was stressful when it was supposed to be relaxing!

I don't know your scores so I can't say which Cap1 would be best. The Cash Rewards card is a prime credit card (high 600s) and the classic MasterCard is prime and subprime. The Venture is super prime...their flagship card. Given you don't have any revolvers, you might want to start with the classic first. Use it for a year and then apply for the green card. They don't determine which card to give you based on credit. You have to analyze where you stand and pick the card you think is best.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Valued Member
Posts: 44
Registered: ‎08-26-2012
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Re: Bankruptcy friendly credit cards

I was discharged from CH7 this year and applied 9/12 for Capital One. I was approved for the platinum card with a small limit. I always pay the card in full each month. This month, I decided to try and apply for Capital One Rewards card and just see what happened, I was approved with a decent CL and I believe it was because they looked at my history over the past few months with the other card. I also have a Credit One Bank card. I acquired all three of these cards within months of my discharge so I know its possible to start rebuilding immediately!! At least, that has been my experience.

BK7 Filed 5/14/12 BK7 Discharged 8/17/12
Latest EQ Fico - 641 Latest TU Fico - 632 Latest EXP FAKO - 651
In my wallet: Cap One CL $250, Cap One Rewards CL $2750, Credit One CL $1000, NFCU CL $6000, HH Gregg CL $1800, Care Credit CL $800 Express CL $950, Victoria Secret CL $850, Kohl's CL $300. Cap One Auto Loan $25k
Established Member
Posts: 21
Registered: ‎03-05-2008
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Re: Bankruptcy friendly credit cards

Discharged July 2012.. Chap 7
Cap 1: 2000 cl in August 2012
Crediting: $300 cl increased to $450 August 2012
Victoria secret: 250 cl dec 2012
Redcard 200 dec 2012...am done till ending of next year
Valued Member
Posts: 91
Registered: ‎11-04-2010
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Re: Bankruptcy friendly credit cards


sc2761 wrote:

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.


Hello!  I lurk more in this forum than actually posting; however, I am one of the referred to above.  I was declined a Barclay card itunes visa; called backdoor (credit analyst) number... poored my heart and soul out for a chance... begged for a measley $100.00 line and got $250.00 in November, 2010 -- now I'm at $2,500.00; also, have had success in getting Travelocity Amex for $1,000.00 initially in August, 2011 -- now at $2,000.00.

 

I, at pleading stage, had a Chapter 7 and Chapter 11 on my record.  The analyst was VERY hesistant, but.. I'm very persistent and I figured he caved when I said, look I didn't get A's in my MBA courses being ignorant.

Gardening since 6-28-2013
Barclay's iTunes: $3,500 | Travelocity Amex $3,350.00 | USAA $7,000.00 | Chase Freedom: $2,000.00 | Discover IT $1,000.00 | NFCU cashRewards Visa $22,500.00 | NavCheck $12,500.00 | USAA $7,000.00 | JCP $3,000.00 | Macy's $2,200.00 | Sam's Club $1,100.00 | Care Credit: $3,300.00 | Carson's $5,250.00 | Wal*Mart $1,500.00 | Various others... can't remember most store cards --- Long journey to HERE -- keep up the good fight!
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