BK Friendly Credit Cards Listed

[emanuelr1b]

Sorry to hear that you can't get approved for a credit card.  i believe the key here for you is not simply that you are paying on time and have paid off some debt but more importantly, what are your fico scores.  If you susspect (you as a consumer can't buy a fico score from Experian now), that your Experian Fico score is above 590, you can get approved for a Capital One Credit Card.  The key, when applying is to ensure that you apply for the card that is in the "Fair Credit" category, and not the "Good Credit" category.  Fico categories a "Fair Credit" credit score in the range of 590 - 660.  My BK was discharged on 3/2008 and I have two (2) Capital One Mastercards (1k & 3k credit limits).  My Experian Fico Scores were not above 600.  I hopes that helps.

CE

[Anonymous]

Thank you for taking the time to respond. Pointing out the "Fair credit category" is very helpful.

[Anonymous]

Thank you to both responses....

My scores are all in the 590's to 620's.  My Credit Union will do a $500 "secure" CC, and they said something about... "If I show that I can handle that for like 6 months to a year, then they would give me a "unsecured" CC."  Im thinking that, that might be my best option.  I should really build my trust with them, since Im looking to buy a house in the next year or so.  I already have a $3000 "unsecured" loan with them now.  That I have had for only 2 months and have automatic withdraw for it.  So, I think patience is my best option! Work on getting my FICO score up, wait for 2 baddies to fall off next year.  I just dont want to apply to another CC and show the inquery again! Im scared! LOL ! But, Ill try the local credit union first, more personal, and I can actually "talk" face to face with the loan/credit officer.

Thanks for all yalls help!

[haulingthescoreup]

Good deal on the CU! I'm glad you're already with one.

They really do seem a great way to get back into the credit world. They're not for the impatient, but time is your friend in this area.

Good luck!

[emanuelr1b]

You're quite welcome.  Capital One is BK friendly but I have heard of people applying and getting turned down. I'm convinced that they perhaps applied for a Cap 1 card in the wrong category. If your score is below 661 (which Capital One considers "Good Credit"), and you apply for one of their "Good Credit" categorized credit cards..you will be denied.

Incidentally, I just applied for a Best Buy Reward Zone Mastercard (HSBC), and was approved for $500.  They checked my Experian credit report.  Since we can't purchase our Experian Fico scores any longer, I didn't know what it was at the time I applied, which was March 17th.  The last time I saw my Experian Fico score, in February, it was 597.

Good luck, and keep pressing forward to great credit. PS....keep those balances low are your score will plummet.

[Anonymous]

I'm still trying to figure out Cap One.  Both of us applied online and checked "Fair Credit" - I also called and spoke with a (very helpful!) CSR.  We both received denial letters.  Perhaps in 6 months we'll look better to them????

Message Edited by utah2009 on 04-04-2009 06:30 PM

[emanuelr1b]

I don't know why they declined you.  My BK was discharged last year in March, 2008 and I applief for my first Capital One, in the same month as was initially approved for $300 CL.  I applie for my second one 10/2008 and was approved for $3000.  The BK is still listed on my credit report.

[favor4me2]

Hi emanuelr1b, which cap 1 card did you apply for after the bk, was it the one for limited credit history? and what is your limit now. Also when you re-apped which card is that and what are your scores now?

[Anonymous]

Well, I got my response letter from the CC people, why I was declined. AND I called to appeal the decision.. and this is what the guy told me.

He said you have 2 accounts that went 30 days past due in the past year. I said, yes i do, but one of them was suppose to be corrected already (I worked on that last week, but we all know it can take a month or two). And I told him that I had a letter from the creditor, stating that it was a mistake, on letterhead, and that it was being sent to the CRA for correction.

And the 2nd one, in reality, WAS my fault, because... in the end, it IS my responsiblity to pay MY car note.  But, I told him that I am TRYING to get HSBC to delete those 2 back to back 30 day laties, because of extinuating (probably didnt spell THAT one right... im so bad at spelling! LOL!) circumstances.  Long story short, I was moving from Ohio to Texas, got a new car, and needed to sell the old before I moved, but had MANY up front moving expenses, and DID find someone (who eventually) bought my old car.  But he was suppose to pay for it (lets just use in April), so he was about to give me a check for the whole amount of the loan, so I didnt see the point in paying the note, to give them the payoff amount a couple weeks later (before 30 days though).  Then he at the last minute, said, he still wanted the car, but it would have to be next month.  So, I didnt have the money to pay the note, because I thought I was getting his money for the car. He had the money next month, then there was this HUGE mix up at the Title Department in Ohio, so we couldnt do the transaction until that was taken care of... late payment.. #2. Then it was over, payed, transfered, and done! Thank GOD! But, now, I had not missed ONE payment in 3 years on that stupid car note, but the last 2 payments of the life of the loan. So, now... that just looks horrible.  Anyone!!?? Any advice? Is HSBC nice at deleting laties? And, in regards to this forum... I told the CC guy this story, and how much I make, and my debt:income ratio... And he said, Everything looks great, but those 2 accounts, and I dont feel safe, after a BK and 2 laties since then, giving you a CC. And I said, Is there ANYWAY, that we can build a relationship here, and you give me, like a 100 or 200, to prove myself here. And he said no. Try and get those lates taken off, it looks bad that it was at the end of the loan.

AHHHHHHHH! Help!!!!!

[Anonymous]

Hi All,

Does anyone have an updated list for 2009.  I imagine that the information that was written in 2007 is no longer correct.  I applied for several of the cards listed such as Junipers and Hooters and was declined.  Each pulled TU which is my lowest score (Incorrect data on reported disputes pending).  This was of course over a six month period.  I also read somewhere that Juniper has been lowering credit limits in response to the economy.  I was approved for Cap 1 at $1K which is my largest limit to date.  By the way I had to cc from Capital one that was included in the bankruptcy. Does anyone know what bank Target pulls and if they will is if IIB. What cc were IIB and did they consider you after or is that a done deal.  Also if you know if there are soft or hard pulls that would also be helpful. Thanks for any feedback that you can provide.  I filed in 3/2008 and started rebuilding right away after discharge in July.  I have a secured card with my credit union.  I will ask if they will change to unsecured in 8/09.