I applied for a Spiegel-WFNNB (denied), Best Buy store-HSBC (denied), JCPenney (denied), Hooter's-Merrick ( denied), Dillard's (denied) and Kay's Jewelry (1500cl). For the ones that I was denied reason given was due to BK. I thought that these cc was bk friendly. I guess not? I guess Merrick blacklist, as well as HSBC. Should I call or mail for a reconsideration? or should I even try at all?
I would let it rest. I don't know your scores but the lenders are really tightening up credit right now. I read on another website that Citi is closing down everyone with an "egg" account. They are reviewing all clients and anyone that looks like they are tetering on the edge is being closed down, cli reduced. The days of "I got 50000 cli" are over for quite a while.
Thank you for the advise and it is well considered. When do you think I should try again to try to open another acct to help rebuild my score. Timeframe 6-9 months or 12 months. Looking at my accts IIBK I have two that I would like to reaffirm Target and a Loan. Should I try to reaffirm them or just let it go for now? They both was only late the month that I file BK. The Target acct I have had it since 1999. I spoke with a CSR and she stated that I need to have my lawyer to contact them. The acct of the loan they spoke with me they did not tell me any about having my lawyer contact them concerning wanting to reaffirming the acct.
reaffirmation has to happen while you are in the BK process. You cannot reaffirm after discharge. So if you are still in process then you could reaffirm the target card. However I bet the trustee will disapprove it because credit is the reason you are in BK. They are ok reaffirming cars and houses but frown on unsecured debt. You might have to have a pretty convincing argument to get that to happen. As to when you should reapply, I think that you should let the inquiries season a couple of months. I know that everyone here talks about their amex and skymiles and we all get swept up in the fever of it but you will probably have to start with the lower cards, like first premier and pay the fees and orchard. I got my orchard 300 cl and no fees. It is actually a pretty good card. And I discharged them in my chapter 7 and my chapter 13. First premier approves everyone. Tribute is another that will give you a chance. I started with 350 on tribute and it is now up to 850 with on time payments. Now I do have to pay the fee each year but heck, it is a rebuilder card and is helping me out. Orchard has a secured product and your credit union/bank might have a secured card as well. You might have to start out real small and take smaller steps to get back to the top.
First don't get get down on yourself. I just went through a bk, discharged in Oct, 07 .In Dec 07. I purchased all 3 of my fico scores, the reason u want to do this is to make sure everything that you listed was discharged through the bk, was reported on your cr. In my case everything was correct. Now my scary time came what would my scores be? Well they were not bad as I would have thought. Tu -585 Exp- 581 and Equfax-571. My Bk raised my score instead. I'm not proud of filling bk, but my point is It's a fresh start. Yes it's on my record for 10 yrs but who cares after 2 yrs you can get a mortage etc. Now for credit cards please please and please do not get a credit card that you have to pay an annual fee, one time set up fee, plus a monthly fee, on top of a high intrest rate. That is the worst thing for you. What I did was apply for a secured credit card through my credit union for $500.00 start off small, dont look like u need a $1000.00 limit. They will secure the card from your savings account, and report to all 3 cb. the apr is only 10% not bad look at the rest of the banks like providen, etc. All you have do is join the credit union, and they will take care of you. Then after a year you can ask for a unsecured card, but you never lose your $500, unless you dont pay your balance off, and the $500 is earning intrest as it sits in your account. Anyone who would like to know which credit union I use just ask me and I'll help you. Today I just received an unsecured cc from HSBC with a $500.00 limit. Thats all you need after bk just 2 open lines of credit for at least 24months. .Tim
The credit union I joined was Addison Avenue, payed $5.00 to join , and I received my Hsbc unsecured card last Friday. any questions just let me know. Don't apply for credit cards all the time, it shows up as an inq, and shows the banks that you are desprate.
My Chapter 7 BK was discharged July 2007. A couple of months later I was able to get an Orchard (HSBC) credit card $500 limit. A month or so later I received an offer for a Best Buy Rewards Mastercard(HSBC) with a $1500 limit. I am using these two accounts to rebuild my credit.
2bfree--if you need new credit i would try a credit union there are a few good ones on here also look under bk friendly cards and whogavemecredit.com which will tell you scores and if person had bk and got approved even a secured card is good and will help your credit and doesnt show secured on your credit report..good luck
~01/2008 Ficos TU 571-EX 647-EQ 652~ ~3/21/2009 Ficos TU 705 EX 702 EQ 692~ ~9/9/09 Ficos TU 718 EQ 693 EX??? ~06/25/12 Ficos TU 719 EQ 677 EX??