11-28-2012 09:42 PM
Good work Dizzydee, just be mindful opening so many new accounts after that Barclay card...they watch you for about 6 months after issueing and have been known to shut down cards for excessive new accounts after they give you a card
12-04-2012 08:53 PM
There is a sticky in the "credit cards" section of backdoor numbers if you ever need more Here is barclays though
Barclays: 888-232-0780 (Customer Care)
Barclays: 866-408-4064 (Credit Analyst)
12-07-2012 02:36 PM
I have heard that Barclays prefers you to be 12 months post BK with no baddies after BK. They want to see you prove yourself haha
12-07-2012 04:06 PM
12-07-2012 06:22 PM
Barclay also wants to see revolving credit after bankruptcy. I filed in April 2011. Got a car loan in April 2012, and they denied me because of no revolving credit in June 2012. So I open two Capone cards and tried and was approved this week. Thanks to reading the forums they want at least a year out and 6 months of revolving credit before approving. But I do have a baddie on my report. One of my student loans is showing collections, just finish rehabilitation, and showing a late April 2012 on another loan. I got the apple Barclay Card.
Congrats man! Glad you got it, gardening until 10/2013 and then app for thre barclays
12-07-2012 07:37 PM - edited 12-07-2012 07:47 PM
Ch 7 fIled 11/2011 Discharged 2/2012
After applying and denied twice before, I caught up on the forums, well...as much as one can
I applied and was approved for Barclays Oct 2012, for $500 CL for the NFL card (which is 11 months after filing, only 8 months after discharge
Most of the remarks concerning Barclay is that one of the main factors they are looking for is 6 months of revolving history (like the Cap1 secured,etc)
AND low utilization (as in <30%) There are also numerous notes about not having too many inquiries, or certainly keeping a close eye on any new inquiries that pull Transunion for the next 3-6 months.
I had the Orchard Bank for 6-7 months, and a 5/3 secured MC for $500 for about 5 months, and started it all with the Fingerhut Freshstart, then WebBank Credit for $200 CL
In Oct, was approved for Barclays NFL card for $500, and then also the GECRB/Walmart for $150
Credit Karma TU 624, Sept Fici TU 637 (My Fico EQ is 651, not that Barclays or GE uses that )
Gardening for 6 months after the 1st CC and utilization <20% seem to be more important than waiting till 1 year after D/C
After my discharge in Feb 2012, around April 2012 I was very disorganized and scattered in my credit inquiries, so I was very lucky after reading up and getting the Barclays, I am not even thinking about any card that pulls Transunion
Myself, I have to read up more on hear about the Discover More card, but am focused on Gardening and letting the GE/Walmart and Barclays grow.
Not trying to keep you out of gardening, which is always a good idea, it's just that if or once you have a 6 month revolving track record, with decent Utilization showing, you have a decent shot at getting in the door with Barclays
Hope some of that helps
12-08-2012 07:54 AM - edited 12-08-2012 07:55 AM
12-12-2012 04:03 PM - edited 12-12-2012 04:10 PM
Nothing that most have not noted but here were the creditors that I got approved for post BK ...
1. HSBC - They were the first true and legitimate creditor to offer me UNSECURED fair credit cards and rates. None of these "loan shark" type terms with crazy annual fees and APR. My BK was in 10/2005 and they approved me for me 2 credit cards in 08/2006. Only 8 months out! One was for $5500 and the other for $2000. No annual fees! Then in 11/2006 I opened and still have the Best Buy Mastercard from HSBC. That one was for $1500 and did have a $39 annual fee but I shopped a lot at Best Buy and earned way more back than $39 to more than off set the fee.
My wife also got generous credit from HSBC. She got an Orchard Bank Visa Card (HSBC is the bank behind them) and an HSBC Mastercard too. Both were about $2K each, they did have a $39 annual fee though.
2. WAMU - Well before Chase bought them out, they were the MOST generous. In 04/2007, just barely 16 months post BK, they gave me a $12K MasterCard, no annual fees. They gave my wife a $10K MasterCard no annual fee!! Incredible!! However, I did learn a valuable lesson, you do want to USE your credit card a little bit. When the credit/housing/mortgage world went really bad a few years back, they started to tighten up and they closed my wife's Mastercard for "no use." No notice or warning, just one day a letter saying, because of the lack of use, they are closing the account. We thought we were doing good, we only used my card and her's always had a zero balance, well it worked too well apparently. My 12K Mastercard did not get closed although since I would never use anywhere near the 12K limit, they did drop the credit line to $9400. Still more than enough and we still use it today ... although now it is a Chase card.
3. Chase -- This is an interesting story, when WAMU was bought by Chase, I was scared to death they would close my credit card account, not only because Chase is known to be a much less friendly creditor to BK's, but I had at least one Chase card on my BK. Well, to my relief, they changed over and everything was perfectly smooth. They replaced my WAMU card with an even better Chase Rewards MasterCard. Same numbers, no annual fee, etc. It's my/our primary card to this date. Now, would I have been approved for a credit card had I just directly applied to Chase? Probably not at the time, so clearly I benefitted from the takeover, however, if they were that unfriendly, they could have easily closed my account during the transition but they did not. So I'm thankful and now a loyal Chase customer for credit card and banking!
4. Capital One - Another interesting one, I have NOT applied directly to Capital One, though from everyone's feedback, it's pretty apparent they are fairly BK friendly. However, like my Chase example, Capital One bought out many/most of HSBC's accounts so my Best Buy Mastercard for instance is now a Capital One account. I had multiple Capital One accounts on my BK, so I was also relieved to see the accounts transition over without issue. Again, they are friendly enough to continue my account.
5. Barclay - I applied last December for a Travelocity AMEX and was instantly approved for $4K, no annual fee. I was thrilled!! My wife applied for the Apple Finance Visa, turns out it is just a simple Visa card when you actually get it, but she was approved instantly for $2K, no annual fee.
6. Target Red Card - I heard that Target is BK friendly and I shop there plenty so decided to apply and instantly got approved for $1K! With a 5% discount when use the card at Target, I should have applied years ago, I could've saved thousands of dollars!! My wife also applied for the red card and got approved too ... but only for $300?! I called in to see if we could then just combine our cards and get a $1300 CL but they said that would not work so right now we just use my $1K card and she gardens her $300 Red Card. $1K is more than enough at Target.
7. The Future! At the beginning of January 2013, I've decided to treat myself to a post 7 year BK, Christmas and New Year gift and apply for a nice Visa card. Visa signature ideally! My numbers are high enough that I'm very confident, I'll get approved for anything now. However, I want to "reward" the creditors who have been good to me so I'm leaning on a Barclays Visa Card. Maybe the Virgin America, Priceline or one of their Visa Signature cards. The other possibility is a Capital One card ... Ventureone Plus Visa maybe. The final option is getting a Discover Card. I've actually started getting "pre-qualified" solicitations from them. The only issue is who takes Discover these days? I only had one in my pre-BK days because that was the only card Costco took but now it's AMEX so I'm covered there.
So I'm open to ideas and recommendations on my next card. Anyone have any?! I'd love to hear from you!! Thanks!
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO