Ch 13 Post Bankruptcy HELP.

[Anonymous]

Thank you! I think this weekend I am going to plunge and apply. 

I am thinking a Captial One (I did have them IIB) but maybe they will still approve me as I read they are BK friendly usually.  Maybe the Discover IT or a Credit Union card? 

I will also be aware to keep a small balance. I am speaking to my CU about a credit builder loan this Friday also. 

[Anonymous]

Thanks! 

Going to try a card or 2 this weekend. Hopefully I can get approved. Also a credit builder loan at my CU possibly. 

[Anonymous]

OpenSky is a lesser known secured credit card that you might also take a look at.

they do not check your credit report and guarantee acceptance and they are very good at reporting to all 3 CRAs.

thus applying with them will not affect your credit score.

i am unaware of any other credit card that does not check your FICOs.

[Anonymous]

Very great help here! 

[Anonymous]

Excuse my ignorance, I am so new to this. 

What exactly is a "secured" card? 

[Anonymous]

A secured card is where you are required to put up a deposit, which generally determines your credit limit.

you get it back when you either close the card with a zero balance or your card is upgraded to an unsecured credit card.

not all secured cards upgrade and some change their policies with time.

however, the deposit is not used to pay off balances. It's much like a deposit for an apartment.

many secured cards have fees associated with them. Cap1 and Discover have no annual fees or maintanence fees.

opensky has a $39 annual fee. If you opt for online bills, there are no maintanence fees.

also, some secured cards report as unsecured cards to the credit bureaus, which looks better, others report as secured.

Cap1 and OpenSky report as unsecured, whereas most of the bigger named banks report as secured. Discover reports as secured, but they are one of the better at being able to upgrade to a regular credit card. 

[Anonymous]

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[medicgrrl]

If your student loans and auto loan are showing a payment history on your credit report then you don't need a credit rebuilder loan. That's for people who don't have installment loans.

Talk to your credit union about a credit card. My CU was pretty good to me after my BK. Cap1 is forgiving so you'll probably have luck there. Discover is BK friendly if you've established some credit. It really is going to depend on the auto and student loans.

Pull your FICO scores and post them before you apply anywhere.

[Anonymous]

If you carry a car loan or mortgage through a bankruptcy, they stop reporting to the CRAs the day your BK goes into effect. I paid my car off a couple of months before my D.C., so none of those payments ever got credited to my payment history. I called my mortagage company and asked if they would start reporting. They said they would and to all 3 CRAs, but EQ has yet to accept the fact that I still have a mortgage. I've been round and round about this with EQ and my mortgage company. Both say they have done everything right. TU and EX are showing my mortgage balance and payments, just not EQ. Taking out a small loan helped me a lot while trying to kick start my rebuilding, esp. while I was waiting for at least 2 of the CRAs to start showing my mortgage.

[Anonymous]

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@medicgrrl wrote:
If your student loans and auto loan are showing a payment history on your credit report then you don't need a credit rebuilder loan. That's for people who don't have installment loans.

Talk to your credit union about a credit card. My CU was pretty good to me after my BK. Cap1 is forgiving so you'll probably have luck there. Discover is BK friendly if you've established some credit. It really is going to depend on the auto and student loans.

Pull your FICO scores and post them before you apply anywhere.

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FICO 8 Score: 608

EX Score: 619

TU Score: 604

Thinking about Cap 1 or talking to my CU. What you thikn with these scores?