Bankruptcy

[JenniferinFL]

Additionally, found out that not all WFNNB store cards are bankruptcy friendly. Gander Mountain Mastercard was a no go for me. Letter states that my score was not a factor, reason was "bankruptcy on file".  Credit score was Equifax, score 655 when they pulled. 3 years post bankruptcy.

[jetsfan2012]

very good thread and I will follow this one intently. YMMV is true, as Ive read many have been able to get approved for Orchard Bank post BK even when they included them, yet I was denied. lol

[Comet21]

Did you have any other HSBC accounts included in BK? Our letter stated we were denied because of our delinquent payments from other HSBC cards. Which was Best Buy in our case.

[jetsfan2012]

I had a  prior Orchard Bank card with them that was included, that was all. I called and spoke with the credit analyst, who said they do not do recon on denials now ?

[sewmuchdebt]

i had iib hsbc accts but was approved for a 300.00 unsecured orchard bank card immediately after my discharge. (8/09)

that acct now has a 900.00 limit 

[homesteader]

I thought GE Capital was a bankruptcy friendly bank. I applied for a lowes card and denied. The reason they stated was our bankruptcy.  it was discharged 6/22/12. was also denied for a cabalas card and secured capital one card. But applied before the bankruptcy on both. I amgetting of trying anymore

[Comet21]

Don't give up so soon, but you should have done the Capital One Pre-Approval process. It would have told you without affecting your score. If you did not include Credit One, or First Premier in your BK then I suggest going with 1(One) of those. You will get approved but at a cost. You have to start somewhere.

[tboy1977]

CapOne has been my FRIEND so far.  When I filed my BK Ch 7 (which I did pro se), my EQ was 479.  Jan 2011 it was 420!  Yes, folks that hideous number went further south!  In February I applied for CapOne and was approved.  If you are looking for a secured VISA and live nearby a PNC Bank, apply for their secured card.  You cannot apply over the phone, by Internet or mail.  You MUST apply in a branch and bring the security deposit with you.  This one is NOT advertised, but the approval is GUARANTEED! Unless you ow them.  Ask for the branch manager and he will get the forms and you fill it out and they sent it to PNC interoffice mail......APR 18%, $36 annual fee and they treat you GREAT!!!  MAX CL $2500.  But I digress.  Navy Fed Secured is another great product.

I have heard six months after discharge you can get a GE Money product.  But Target is supposed to be BK friendly and I was denied after six months.  But I applied again Apr 2012 and was approved for a $200 card.  It seems your discharge is TOO fresh.  Try again say early Spring 2013.

Circumstances can change.  Having the one positive credit card may show another that you are responsible.  I got approved for Coca-Cola's secured credit card because of my previous payment history.  Otherwise, I may well have been denied.  Not every financial institution will grant a secured credit card product just in face of having the security deposit.  Even though the collateral reduces risk, it doesn't eliminate it entirely.  I messed up with a secured credit card in 2005.  Trust! 

Right now I have five credit cards, four secured (CapOne: $3K, PNC $1300, Navy Federal $800, Coca-Cola $2500, Target $200).  I have an installment loan in the amount of $1500 (cash secured)

The hardest part for me is watching how some people manage to get their scores well into the 600s mere months after bankruptcy and I have a 509 currently, almost a year and a half out.  But hopefully in time it will get better.

[deadbishop]

for what its worth... i was approved for a credit one bank visa unsecured 500 limit 1 week post discharge. i did a lot of clean up while waiting my discharge. made sure all iib accounts reported right, disputed old accounts and even had some CA just delete instead of listing iib. funny thing is i was the biggest pain in the ass and called them a lot as to why they didn't update with the CPA iib. think they got sick of hearing from me so just deleted. i also took 2 secured loans with 2 different CU in my area 1000 each after the 341. then a 300 secured appiedbank (no credit check) but they only report to TU and EX. mistake i know. 700 secured CU visa then i did the pre quality app. with credit one bank. then real app. now i am just gonna sit tight and pay on time and pif the cc's. clean up as i can. my goal is to buy a house 2 years post discharge. hope my post helps i am new to posting.

[patrick74]

Well, just got approved for the Capital One secured mastercard!