06-12-2010 04:07 PM
My Ch 7 BK was discharged about a yr ago. I have no debt.
My EQ is 652
EX Facko is 665
TU is 663
Currently I have:
citi secured card
two first premier credit cards
credit one bank card
I want to get another card with a higher CL, but dont know where I can apply as I included Orchard Bank, Capital One, Discover, Citibank, and Wells Fargo all in my BK so right now I cannot get cards with them.
I tried Penfed Credit Union and they turned me down for a Visa with 500 limit
What are my other options?
06-12-2010 04:19 PM
I would look at a store card. Sams is a great card and although the inital CL is low and their interest rates are high, the CL will grow over time and they could also offer you their Discover cad down the road.
Before applying, I would check at those approval sites to see if your score is in the range they like. I am not sure what my score was when I was apporoved by them but I would estimate that it was in the low 600's.
06-12-2010 04:35 PM
Try the Best Buy Reward Zone Mastercard. I don't have one, but it seems to be a good rebuilding card for a lot of people with limited history or low scores. Anything is better than First Premier.
06-12-2010 05:40 PM
Go to JC Penney, Macys, Dillards, even Walmart. Avoid HSBC cards (Best Buy and Sears). Store cards limit you to purchases at that store only (unless their rewards are attached to a Visa or MC), but it will increase your overall limit with a card that you will not really use that often.
I got a JC Penney card back in December 09, just to get the 20% discount on what I bought. They gave me the card with a 800 CL, this month I requested an increase and they gave me 1800 total CL. I decided to try Dillards, just for the fun of it and they gave me a 500 CL, but their tier 1 level, the lowest interest rate. I do not know if there is anything I would buy at Dillards, but it increases my limit, has no annual fee and a few years down the road will be another long term account. I think that is a no lose situation. Other than my initial purchase, the only thing I have used my Penney card for is purchases that I am reimbursed for. So I just pay it off once I get my money back. It has worked out pretty well so far. In the past two years my score has gone from low 600 to this months 709. I still have a default on my record until October.
06-12-2010 08:41 PM
It may be very difficult to get an unsecured card with a high limit. With another secured card you can get the limit you want via the deposit.
I don't think CITI secured card allows you to add to the depost since it is a CD. is that right? I am suprised that you have a CITI card even though you included them in BK.
Why did you get FP and Credit One? Aren't they costing a fortune in fees?
06-12-2010 10:07 PM
My mom filed ch7 bk in in Jan 2009 and it was discharged May 2009. She included both HSBC and Capital one. Today she has new cards with both. She has the Best Buy Reward Zone Mastercard (300.00 limit, no annual fee) and a Capital One Platinum Mastercard (500.00 limit, 39.00 AF) So, even though you included them I would app to them anyways, they are known to give second, third, even fourth chances. My gf has HORRIBLE credit, score of like 440 no joke, two charge offs (unpaid!) with HSBC and they STILL approved her for a 100.00 cl best buy reward zone mastercard! So, trust me...you CAN get one.
06-13-2010 04:00 AM
I also added HSBC in my BK 3 years ago and had no problem getting the BBRZ card with a $500 CL and NO AF. I also received a UnionPlus CC, also backed by HSBC.
06-13-2010 07:41 AM