Frequent Contributor
Posts: 402
Registered: ‎11-03-2012
Re: Bankruptcy friendly credit cards

melich wrote:

Hi all :0)


 First time here. I lost my job and was forced to File for ch7. My Ch 7 was discharged in Jul 2012. After doing massive research i applied for CapOne CC in early Aug 2012. Approved for $500. Following month i received a letter stating if i pay my first 6 statements on time and not go over the limit. My CC limit would be raised to $750 on the 7th month. This is all nice and dandy but it is a bit frustrating since just a few years ago i had a few cards with limits in the $30k range. Reading tis forum for the last couple of weeks has helped alot. So thank you..


At the time of ch7 discharge my score was 614EQ, 594EX & 579TU. Thankfully i am very good at managing credit and i;ve been able to raise the scores to 662EQ, 646EX & 616Tu (not too thrilled about TU).


My goal is to get a limit of about $4,000-$5,000 with either Boa , Chase or Citi. I really prefer Citi AA Advantage. I used to have Citi AA Advantage and racked up a ton of miles with the card. Do any of these run Equifax only? FYI, Citi was included in the BK  :0)  dept of about 80k totaling of 3 card all being Citi AA Advantage.  I love Citi and would want them back. 


My average credit usage ranges between 2% to 20%. I used the equifax score calculator to determine what the score would look like based on usage. this is how i was able to raise my score so quickly.


Would appreciate any good advise.


thank you and happy new year!

Congrats on your rebuild. You have come to the right place. A few questions, where are you getting your scores? Are they FICO scores? ore FAKOs? I see you mentioned EXP which is typically a FAKO for most people. It'll help guide suggestions if we know what your FICO scores actually are. 


Unfortunately, its not a good idea to apply for any credit products with BOA, Citi or Chase. They are not BK friendly. Certainly not this close to your discharge. Save the HP and look elsewhere. This thread has already covered the "friendlies". CapOne, CreditOne are great rebuilders. GE backed cards have been mentioned as well. Barclays seems to be easy to get as long as you have had 4-6 months of revolving history post BK. If you have military affiliations, NFCU is definitely a major player.


Soul master has an excellent rebuild thread that makes a good read. But like I said, BOA, Citi, Chase are no go's. 



Starting Score: 501
Current Score: 706 EQ,TU 689,EX 686
Goal Score: 720