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Member
Posts: 11
Registered: ‎07-23-2010
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Which Credit card? 2yrs post BK, 680 score?

I'm just about 2yrs post BK and acquired a car loan 6mos ago.  It was the only new credit I have gotten (or tried to get) since my BK.

 

My Equifax score is 680.

 

I'd like a credit card purely to rebuild credit, however I am not thrilled about having to get a secured card.

 

Which cards could I apply for that are unsecured that may approve me? I haven't yet aplied for any cards.  

 

My understandanding is to put some basic recurring charges on the card and pay it off each month. Is that the correct way to go about using the credit for the sake of rebuilding credit? 

 

Thanks in advance.

 

Dean

Contributor
Posts: 663
Registered: ‎03-16-2013
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Re: Which Credit card? 2yrs post BK, 680 score?

Get ur FICO score firsy
Frequent Contributor
Posts: 355
Registered: ‎02-16-2013
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Re: Which Credit card? 2yrs post BK, 680 score?

Yes, I would charge every month and then PIF.

With a 680ish score, you should be eligible for several cards, but most lenders like to see previous revolving history of 6 months-1 year. You could use capital one's SP preapproval feature to see if you qualify for a unsecured. Then use it for 6 months or longer before applying again.
2/16/13 Scores EX: 594, TU:513, EQ:563 -- Cap One Secured: $200, Kay's: $400

GOAL #1: 625 -- CHECK!

3/31/15 Scores TU: 621 -- Cap One Secured: $750, Kay's: $900, CareCredit: $1000, Aerie $350, Fingerhut $1350

Goal #2: A travel card. REC ME!
Frequent Contributor
Posts: 355
Registered: ‎02-16-2013
0

Re: Which Credit card? 2yrs post BK, 680 score?

They are usually easy approval.
2/16/13 Scores EX: 594, TU:513, EQ:563 -- Cap One Secured: $200, Kay's: $400

GOAL #1: 625 -- CHECK!

3/31/15 Scores TU: 621 -- Cap One Secured: $750, Kay's: $900, CareCredit: $1000, Aerie $350, Fingerhut $1350

Goal #2: A travel card. REC ME!
Blogger
Posts: 3,360
Registered: ‎10-19-2012
0

Re: Which Credit card? 2yrs post BK, 680 score?

What banks the debt from which you discharge during BK? Some banks have a long memory of previous debt and may not let you in unless you pay it off first.

Frequent Contributor
Posts: 364
Registered: ‎10-25-2012
0

Re: Which Credit card? 2yrs post BK, 680 score?

+1 henchmen21 cap1 is pretty easy I got approved with them and I had just paid off a charge off I had with them that week. It's only a 300 limit but I'm happy I got that.
Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
0

Re: Which Credit card? 2yrs post BK, 680 score?

Yep Cap1 is super easy. They approved me back in July when I had 2 BKs reporting. I applied for the Cash Rewards card for average credit, $2000 CL...$2500 CL since February. The 7 was 9 years old and the 13 was 6.7 years old. Now it is just the 7 left which will delete in Aug.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Frequent Contributor
Posts: 428
Registered: ‎01-21-2012
0

Re: Which Credit card? 2yrs post BK, 680 score?

Barclays... No annual fee, Get the Barclaycard Rewards Mastercard...

 

2% on Gas / Utilities / Groceries (including Walmart, Kmart, Dollar General) 

1% on everything else. 

 

Better credit lines than Cap 1 and the avaliablity of CLI. 

 

Good with recons. 

WF Home Projects Visa $8500 / Towpath CU Visa $7000 / Chase Freedom Visa $5500 / Cap 1 QS Visa Sig $5000 / Barclaycard Ring MC $5000 / GE Lowes $5000 / Citi Best Buy MC $4250 / Barclaycard Rewards Visa $4000 / BFG CU Visa $3500 / Citi Sears$3000 / WF Visa $2000 / GE Walmart $1900 / GE Care Credit $1900 / GE Amazon $1400 / Cap 1 Kohls $1000 / GE Old Navy $800 / Webbank Fingerhut $700
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Frequent Contributor
Posts: 263
Registered: ‎08-13-2011
0

Re: Which Credit card? 2yrs post BK, 680 score?

I would start with Capital one or GE's Walmart store card if you never included them in your BK filing.

While barclays is BK friendly they like to see 6 months of credit card history before giving you a card, if you currently dont have a card I would not recommend applying for this card just yet.

Discover is also BK friendly if you have a good post BK credit history.

Another option is to look at credit unions, a lot of them are BK Friendly.

Stay away from Bank of America, Chase, Citi, American Express.....These guys are not BK friendly.

 


Starting Score: 500s
Current Score: EQ: 693myFICO(9/7/12), TU: 710myFICO(9/2/12), EX Plus:701(lp,4/16/12)
Goal Score: 700

Wallet: Discover IT $5000, Capital One Platinum $13000, Barclays Rewards $5700, Walmart $3500, Amazon Store Card $3500.
Keep the Hearth of your Thoughts Pure, by so doing you will be Happy and bring Peace!
Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
0

Re: Which Credit card? 2yrs post BK, 680 score?

Yep, I waited 9.4 years after BK before I tried Chase and I barely got in the door with a $1000 CL. They were not burned in BK either. They just aren't BK friendly.

I truly enjoy my Cap1 card. I had to dispute a $125 charge recently and customer service was extremely courteous and helpful. I have earned $140 in cash back since July. I charge $1500-$2000 a month. And in July, I will get 50% of the total cash earned in a year back.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
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