Chapter 13 Friendly Credit Cards

[Anonymous]

I have spent hours reviewing the thread, "Bankruptcy Friendly Credit Cards Pt. 2". Though there is a TON of good information, some of it is conflicting for those in an open Chapter 13. DISCLAIMER: TRUSTEE/ATTORNEY APPROVAL IS REQUIRED TO INCUR NEW DEBT DURING OPEN CHAPTER 13 CASE (for those that aren't aware). For my case, I have approval for a secured credit card with a starting limit of up to $500. Looking for input from actual Chapter 13 members on where they had success while there case was OPEN. Hoping to compile a list of national sources as opposed to local sources, as some members wont have access to certain local Credit Unions/Banks. Thanks in advance! 

[Anonymous]

Penfed will approve anything for you with an open 13 as long as your scores are above their thresholds and you have the supporting income.

[Anonymous]

Interesting. Do they have any secured products? I’m certain there is no qualifying for unsecured products with an open case. 

[Yeliaba1]

OP, I’ve had luck with secured cards from NFCU, FNBO, and BOA.  NFCU graduated in 5 mos. with a CLI.  FNBO in 10 mos. with a CLI.   BOA in 6 mos. with a CLI.  While NFCU will graduate, it will not grow beyond $2K while your BK is open (my experience).  I chose cards that I felt could graduate quickly.  You should also look at Discover once you’ve developed some history and get your scores in the low 600s.  You can use their pre-qual. page.   Good luck!

[Anonymous]

They absolutely will approve you on anything (secured or unsecured) with an open 13.  Again if your scores are good and you have the income to back up what you want.

[Anonymous]

On the flip side, NFCU WILL NOT approve anything for you even with a discharged 7 or 13 unless you are at least 12 months(ish) out from discharge.  Forget having an open 13, you have no shot for anything including the secured CC.  They have become very tight, not BK friendly until you are 12 months out from discharge.

[Yeliaba1]

I'm in the final mos. of my CH 13.  I was approved for a secured card with NFCU 10/17 and it graduated in March this year with a CLI to $2K.  I don't believe there will be any increases until I'm discharged.  

[Anonymous]

Thank you for the responses. I burned BOA so I won’t be attempting them. My hope is to get a NFCU Secured but like mentioned here, there’s mixed reviews on success with a Chapter 13. My plan is to build some history with something like the Open Sky secured before attempting NFCU Secured. I also burned Capital One and Discover so probably no hope there plus I’ve read that neither will approve, even for secured cards, until discharge. 

[Yeliaba1]

Sounds like a good plan, as I had an OpenSky and FNBO open for 4mos. before my NFCU approval.  OpenSky is no frills but there's no credit check and it reports as unsecured (at least when I had it).  I wish I had kept mine open to help the age of my open accounts.

[WD2005]

"On the flip side, NFCU WILL NOT approve anything for you even with a discharged 7 or 13 unless you are at least 12 months(ish) out from discharge.  Forget having an open 13, you have no shot for anything including the secured CC.  They have become very tight, not BK friendly until you are 12 months out from discharge."

When did this start? I opened a secured CC with NFCU that graduated while in a Chapter 13.