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Established Contributor
Posts: 878
Registered: ‎04-08-2008
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Re: Want to apply for credit card that is BK freindly with high CL

[ Edited ]
Hi glamchick, Smiley Happy
 
I agree that PenFed might be a great choice for you. Smiley Happy
 
They pull Equifax exclusively and their qualifying scores
are 660 or better. Your scores are 660-680,  so you should be in
really good shape. Smiley Happy
 
Each hard inquiry is good for 60-90 days, which means you can apply
for multiple PenFed products on the same pull. Pretty cool, huh? Smiley Happy
 
If I'm not mistaken, their credit card limits start at $1,000. Smiley Happy
 
One caveat, though: They don't like recent inquiries. So if
you've been apping to a lot of other places recently, it's best
just to join PenFed by opening a savings account with $5
and exploring other options for cc's. But if you haven't apped
in a while, you should have a good shot. Smiley Happy
 
Hope this helps. Good luck to you!!!!! Smiley Happy
 
CanDo
 
"The right attitude is everything"


Message Edited by CanDoAttitude on 05-28-2008 04:40 PM
Established Contributor
Posts: 1,045
Registered: ‎12-30-2007
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Re: Want to apply for credit card that is BK freindly with high CL

when is your bk from? sometimes you gotta just take a chance..but credit unions are a great place to start and alot of them in my area you just have to live in a certain county..alot of them don't make you belong to a member of something any longer...but some of the online options are great also..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??
Established Contributor
Posts: 697
Registered: ‎03-09-2008
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Re: Want to apply for credit card that is BK freindly with high CL

I thought Penfed was not BK friendly. Searched for myself and got that opinion. Hmmm. I would really like to get in with them.
/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\

"No good deed goes unpunished"




There is nothing more simple, nothing more complex than the relationship between Country Boy and Dog.
Established Contributor
Posts: 1,045
Registered: ‎12-30-2007
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Re: Want to apply for credit card that is BK freindly with high CL

they weren't for me but some of these companies are all over the board some with high scores and some w/low..and phumanr has success with usaa with a bk which is unheard but way awesome..i guess it just depends what kind of mood the system is in..ahahhaha 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??
Established Contributor
Posts: 697
Registered: ‎03-09-2008
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Re: Want to apply for credit card that is BK freindly with high CL

I don't much like taking chances, I'll wait. LOL It builds character, right? hehe
/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\

"No good deed goes unpunished"




There is nothing more simple, nothing more complex than the relationship between Country Boy and Dog.
Established Contributor
Posts: 878
Registered: ‎04-08-2008
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Re: Want to apply for credit card that is BK freindly with high CL

PenFed isn't as BK-friendly as Navy Federal, for example.
But they are not BK unfriendly. Smiley Happy
 
Post-BK myfico forum members who have joined PenFed have
reported that they work with people on a case by case basis. Smiley Happy
 
So no, they don't blindly kick you to the curb due to a BK. Smiley Happy
 
On balance, the higher your EQ FICO score and the more you've done
to improve your situation post-BK, the better your chances for approval
of their product line. And even if you can't get a credit card right off the bat,
they have great offers for auto loans right now. It's always easier to qualify
for an auto loan or mortgage post-BK than a credit card, so this strategy
might get you in the door so you'll have a chance to prove yourself.
Once you establish a track record, then go for the credit card. Smiley Happy
 
Besides, just joining a credit union is a plus, and you can't go wrong with PenFed. Smiley Happy
 
 
CanDo
 
"The right attitude is everything"
Established Contributor
Posts: 540
Registered: ‎01-09-2008
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Re: Want to apply for credit card that is BK freindly with high CL

Okay thanks for the great info.  Can someone walk me through on how to join a credit union?  What is MOA?  Can i do this online?  Do i have to go to a credit union bank? 
 
Let me know!  Thanks!

Starting Score: 501
Current Score: EQ609/TU630/EX665
Goal Score: 700


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Valued Contributor
Posts: 1,185
Registered: ‎03-04-2008
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Re: Want to apply for credit card that is BK freindly with high CL

A glimpse of your possible future:
 
My SO is 10+ years out of BK and it has fallen off her CR's. Her FICO's are 820+.
 
I just got her membership in PedFed and yesterday she app'ed for the VISA PCR card. Instant approval for $10K CL -and- instant approval for a $35K auto loan at 4.25% that she didn't even ask for!
 
My advice - avoid the sub-prime cards like the plague! Try to get the highest quality credit products you can manage even if the CL's are a little lower to start. The sub-primes will always find a way to mess with you. To them you are slime to be exploited.
 
Find a good CU and work with them - they will work with you. My first major step out of my credit mess was a decent, but not great, auto loan from a local CU. At the time my CR's were sporting an unpaid judgement for $5,100! That has since dropped off my CR's and less that a year later I was approved for a VISA PCR card from PenFed for $10K CL through the normal process without being asked for anything.
Established Member
Posts: 18
Registered: ‎03-07-2008
0

Re: Want to apply for credit card that is BK freindly with high CL

Patelco credit union is great.  Read threads on board about how to get in.  They are very bk friendly if scores are above 660.  They pull only experian
1/2008 ex 589 eq 538 tu 558
4/2008 ex 661 eq 603 tu 619
5/2008 ex 665 tu 622 ex 605
7/2008>ex 611 tu 609
the little engine that could......pushing for the 700 club
New Contributor
Posts: 105
Registered: ‎05-15-2008
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Re: Want to apply for credit card that is BK freindly with high CL

Penfed accepted me today! I opened a saving account with $5 (WOW) talk about a low amount I was expecting to pay the $20-$25 member fee but to my supprise no ne (I can save my gas money now)LOL! I tried it online first and got almost completely finished my transaction was being processes, I was booted out so I call them and did it over ther phone (CS was great! She was so nice an she souned very happy to help me!
I'm better than blessed!
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