BK with minimal credit card debt...will I be able to get credit cards?

[Anonymous]

Hi All,

I've been creeping on this forum for a while now, but I thought this was the time to jump in a ask a question!

I will be filing in the next week (Chapter 7) and I'm eager, scared, and excited all at the same time. I didn't mess up with a lot of credit cards (one NFCU card for <$1500; Premier Card  for < $1000) but I have a bunch of other crap on my report that holds me back, like old unpaid medical and heat/electricity/cable bills. What do you all think my chances are of getting approved for credit cards after filing? Thanks for your input!

[Anonymous]

You will definitely be approved for credit cards after filing and being discharged.  However, if you follow the strategy of some of these very intelligent contributors on this forum - you can a)build your credit score and b)get approved for  'better' cards with higher limits.

[Anonymous]

Thanks for that information!

I hope to follow the information provided here and improve my fortunes. I'm eager to get started, so as soon as I get filed, I may attempt to get a card. I was fortunate enough to stay away from credit cards earlier in life, but now that I'm more responsible I'd like to build credit that way.

[Anonymous]

 You will certainly be able to obtain credit. What amount and with whom is up in the air.

I would wait until at least your trustee meeting/trustee discharges him or herself from duties (you can watch for this on PACER), if not until your actual discharge, to apply for any credit. You do not want to flag anything before the trustee, nor have the new card closed down due to an in-progress BK. 

Feel free to check prequal sites as often as you like, though (subject to your own sanity!) They are SP and do not affect your credit score. It will give you an idea what you will be in for - and how things change over time.

My scores climbed 73pts avg between file and discharge, 4mo. Then another 80pts avg in the first 2mo of rebuild, and I was very conservative.

Best of luck :-)