Credit Cards

[trc1963]

Well, I stuck my neck out and applied for my first CC ..US Airways  (BK 4 yrs ago).  No bad credit, 2 year new Morgage. C scores all 650+.  Here is what they said  "Too few accounts with sufficient satisfactory performance "  So now I'm ticked off.  I spent over an hour reading everyones posts about them getting cards with lower scores and I get denied right off the bat.

Does anyone have any suggestions for me?

[SmartCookie]

If you had no derogs other than your BK and by scores you mean FICO, I would recon that US Airways app and hope there is a 2nd chance for you on it.

[SmartCookie]

BTW search more on this card on the boards.  I just did and it looks like they will deny if you have less than 2 lines of credit.

[trc1963]

Figures!  Do you have any suggestions on who I might be safe with, with this problem?   Out of all my readings on this forum this is the first time I even heard of this problem.  Now I'm afraid of applying anywhere else. Suggestions?  This was my first inquiry.

[dallasjetfan]

I have a few more TL's than you, but my scores were similar and I had a BK less than 2 years ago. I was approved last week for $1500, but the APR is a little high. I don't have a mortgage, but I would think that you had a better chance than I did.

[trc1963]

You were approved for US Airways/ Juniper? 

 I tried going to their web site to find a number to call but it appears I have to have a cedit card of theirs in order for me to log in.  When I tried establishing an account I was denied access.  Ridiculous!   Does anyone have a phone number of someone I can call about this...?  Thanks Guys!

[SmartCookie]

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trc1963 wrote:

Figures!  Do you have any suggestions on who I might be safe with, with this problem?   Out of all my readings on this forum this is the first time I even heard of this problem.  Now I'm afraid of applying anywhere else. Suggestions?  This was my first inquiry.

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I'd have to do some research to see what you have the best chances on and I'll be able to do that shortly.  Hang onto that denial, if we can get you approved for something and get it reporting fast, I think you can recon US Airways and get approval since you will have 2 lines of credit... hrm... call them and verify what they consider as lines of credit.  Don't want to assume mortgage but them not count it etc.

[SmartCookie]

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trc1963 wrote:

You were approved for US Airways/ Juniper? 

 I tried going to their web site to find a number to call but it appears I have to have a cedit card of theirs in order for me to log in.  When I tried establishing an account I was denied access.  Ridiculous!   Does anyone have a phone number of someone I can call about this...?  Thanks Guys!

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There should be a phone number on your denial letter, unless you app'd online.  PP got approved because he had their min quals for CLs, not just on score alone.  It's more than regular FICO score for all CC issuers, and credit card enhanced FICO comes into play as well.

[SmartCookie]

Looks like Cap1 is one of the cards you should be able to get for re-establishing even with the BK.  IF that works out, get that... then recon the other app.  Annual fee probably but I can't vouch for who else on the BK friendly list is going to issue you your 1st CC.

Are you getting any preapproved offers from anyone in the mail? 

[trc1963]

I just recieved a capital one offer in the mail.  But I always thought these "Pre-approved" offers were just scams to get you to apply, and the odds of actually getting "really" approved were slim.

I see people with "Orchard" CC but those I thought were for people with scores in the 500's.

The other CC's on my list to apply for were

Patelco and  Justice Federal credit union.  I guess they wont approve me either..or do you think they will?

Thanks again.