topic Re: Post BK Credit Card? in Bankruptcy

Post BK Credit Card?

Anonymous — Fri, 10 Jun 2011 03:50:02 GMT

I am thinking about applying for an unsecured credit card and would like to know what my best option is for being approved post-bk. I was discharged from my Ch. 13 in December 2008. I have one unsecured card, student loans, and an auto loan. My scores are all above 700 right now, with the higest being 730 and the lowest 700. My income is 90k. I'm interested in buying a home in the Spring of 2012, so I don't want to hurt my chances for that, but I feel like I need another revolving account besides the one secured card. Can anyone recommend some unsecured cards that are BK friendly? Or, should I wait until after I try to get approved for a mortgage?

Re: Post BK Credit Card?

Anonymous — Sun, 12 Jun 2011 17:38:47 GMT

To be honest with you, I am pretty sure you can get any credit card except maybe AMEX. My bankrutpcty is not even 2 months old and I already have an unsecured hsbc and captial one credit card.

I would go on a few webistes and do the prequalify they can tell you which you should apply for. Worked for me! & your credit history scores and discharge is way older than mine.

You shouldnt have a problem.

Why dont you give these a try.

Capital One

http://www.capitalone.com/creditcards/?linkid=WWW_1009_CARD_A7066_HOME_H1_01_T_CB1

Orchard Bank

http://www.orchardbank.com/ecare/homepage/creditcards

AMEX

http://www201.americanexpress.com/getthecard/home?sj_tabToOpen=3&inav=menu_cards_pc_viewallcards

(Dosent hurt to try to see if you are pre-qualified for a card, if they say there isnt an offer for you, just dont apply, AMEX is pretty strict!)

Good Luck!!

Re: Post BK Credit Card?

Anonymous — Mon, 13 Jun 2011 16:41:29 GMT

@Anonymous wrote:
I am thinking about applying for an unsecured credit card and would like to know what my best option is for being approved post-bk. I was discharged from my Ch. 13 in December 2008. I have one unsecured card, student loans, and an auto loan. My scores are all above 700 right now, with the higest being 730 and the lowest 700. My income is 90k. I'm interested in buying a home in the Spring of 2012, so I don't want to hurt my chances for that, but I feel like I need another revolving account besides the one secured card. Can anyone recommend some unsecured cards that are BK friendly? Or, should I wait until after I try to get approved for a mortgage?

If your unsecured card is a bank or national cc card AND if it is reporting to all 3 CRA's, you are okay with what you have, as far as FICO is concerned.

If you'd like to open an unsecured card, then there are a few options. There are many cc's who will not take on anyone with a BK on their report, even with good scores like yours. So, you're wise to app with that in mind.

BK friendly credit cards is a great thread to read through - especially the most recent posts (because things change over time).

I've had great luck with Orchard (I think they're excellent for rebuilding) but they have an AF and no rewards, and you may be past needing them. I say "may" because some cards like to see history on multiple cards before they'll approve you - so it'll depend. If you need more history to move forward, then Orchard would still be a great option.

Some folks (like the previous response) are fans of Cap One.

And I'm a big fan of Barclays' (I have their Juniper card - no AF & no rewards).

I also have a local CU card that does have some cash back rewards and no AF. I really like some CU's (like this one).

GEMB store cards are BK friendly - but you don't need store cards for FICO scoring purposes, and I would advise against them unless they fill a particular purpose (i.e. rewards and discounts at a store you frequently shop at).

And IIRC the BK friendly credit cards thread might have mentioned Alliant after 7 years (?). That would be 7 years after you filed, Those rare birds that report getting Amex's with a BK reporting seem to show a pattern of accepting after 7 years from filing as well.

I have a long list of cards to keep my eye on - I'll maybe app for one or two of those over time - after my BK ages off because I know they are not BK friendly regardless of my score.

Re: Post BK Credit Card?

Anonymous — Mon, 13 Jun 2011 17:16:37 GMT

Hi,

That post is actually kind of old because Providian isnt even available anymore. Is it possible for someone to either create a new BK credit card friend post? I could contribute.

Thanks!

Re: Post BK Credit Card?

Anonymous — Mon, 13 Jun 2011 17:36:31 GMT

Hi Creditbyte,

Welcome! Glad you're here!

Yep, the original posts are a little old, but the more recent ones are still pretty helpful, useful and accurate!

It's been several months since the last post, I would highly recommend that you contribute to the thread. It would be very helpful to folks!

Re: Post BK Credit Card?

Anonymous — Mon, 13 Jun 2011 18:02:07 GMT

Hey,

Great thank you! Yes, I will def share bk information from my experience I got 2 unsecurred to rebuild on a pre-qualify basis.