03-29-2013 02:45 PM
Hi there, I was wondering if anyone can help me.... I had really good credit history however recently I was forced to apply for bankruptcy as joint co-signer for my husband.
We already received the discharge but now my question is how soon after bankruptcy I can apply for credit card, who I can apply with...what to do in general to get a credit card?
03-29-2013 02:50 PM
03-29-2013 02:52 PM
03-29-2013 04:21 PM
did you reafirm any positive tradelines?
03-29-2013 04:43 PM
03-29-2013 05:47 PM
Congrats on your discharge. Glad you found us!
First off, the rebuild process should start immediately after your receive your discharge. I'm assuming you filed a Chap 7. 6 months to a year is way way to late.
Now step 1 is reviewing all three reports as has already been mentioned. Make sure everything is reported correctly, dispute items that are not updated.
Step two, Apply for a Capital One product. You could try for the secured card or one of the lower end unsecured products. Unlike many folks here I would also suggest adding Creditone. They have a $75 AF and should be cancelled in your 11th month.
Visit your local credit union and meet a loan rep. Ask specifically about their BK policies. Don't join a CU that specifically prohibits post-BK lending for an extended period of time.
Once you find a CU, open a credit builder or secured loan. At the same time you can take the secured loan money and fund another secured card.
Assuming you've played this right, you should now have 3-4 credit lines.
Once you hit about 5-6 mos of new credit activity, apply for a barclays product. You might have to recon but will be likely approved if you followed above instructions.
Do not waste any apps on primes. Citi/Amex/BOA will all deny you swiftly. Stay away from them. You can try for GE at about 6 mos as well.
Also direct future posts to the BK forum. Lots of good recent and old experienced folks there.