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Credit cards after bankruptcy

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Anonymous
Not applicable

Credit cards after bankruptcy

I have read some foruma about cards out of BK, but they all seem to be several years old. (Most recent i found was like 6 years old)

What cards are best right out of BK? Just received DC a week ago and want to start rebuilding to hopefully be able to buy a house in a few years.

I was approved for unsecured cap 1 platinum 500 limit and hubby was approved at 300 for the same card... is this a good one?

What are good cards we could most likely get that will increase the limits a good amount over time? We didnt really burn many banks and no big places besides paypal and usbank.

Any insight into morr current cards is much appreciated!
Message 1 of 14
13 REPLIES 13
Anonymous
Not applicable

Re: Credit cards after bankruptcy

Capital one plat is the first one I'm going for then later upgrade it to a quick silver. From what I've read If you request a cli prior to your first baby steps increase with cap one you might get two increases. The one I read about said they waited till they got their 3rd statement and got an increase by requesting it.

Do you have access to navy fed? I burned them so I cant go there but that is a good one.

From what I've read stay away from credit one.

Before you apply for anything try to do a pre-qualify on their site. It's not 100% guarantee but its guidance as to which to apply for and it is a soft pull for prequal.
Message 2 of 14
pizza1
Community Leader
Super Contributor

Re: Credit cards after bankruptcy


@Anonymous wrote:
I have read some foruma about cards out of BK, but they all seem to be several years old. (Most recent i found was like 6 years old)

What cards are best right out of BK? Just received DC a week ago and want to start rebuilding to hopefully be able to buy a house in a few years.

I was approved for unsecured cap 1 platinum 500 limit and hubby was approved at 300 for the same card... is this a good one?

What are good cards we could most likely get that will increase the limits a good amount over time? We didnt really burn many banks and no big places besides paypal and usbank.

Any insight into morr current cards is much appreciated!

Obviously not HERE on fico. You need to do a lot of research here on THIS forum. The search button at the top will your friend Smiley Wink

 

and yes, Cap1 is a good card to have. I started them 3 days post DC over 5 1/2 yrs ago, and now I have a Venture with a $48k limit...it takes time, but its all possible Smiley Happy

Message 3 of 14
dridings74
Member

Re: Credit cards after bankruptcy

I would suggest checking to see if you are pre-qual with Discover.  You might get offered a secured card with them but it will be a starting point with a card that will grow with you if managed properly.

Message 4 of 14
dridings74
Member

Re: Credit cards after bankruptcy

Edit due to double reply

Message 5 of 14
FireMedic1
Community Leader
Mega Contributor

Re: Credit cards after bankruptcy

You got the same card I started with 3yrs 4 months ago. But things have changed a bit since 2015. Yes you can ask for a CLI after 3 statements and still get the CS CLI. Trick is. Use it like a debit card. Pay it off every 2 weeks on payday. Dont carry any balance. Let it report zippo. Then upgrade after you boith get the CS CLI. Do not go after the QS1 and the $39 AF. It wont move and it is hard to upgrade. After 6 months try the Disco pre-qual. If you dont get an approval. Try the secured. You get all the benes and it graduates. Store cards are HP's now. Avoid them unless you shop at a certain store a lot. Only about every 4-6 months try for another card. Dont rush it. After a year then it will get easier to get better cards.


Message 6 of 14
Anonymous
Not applicable

Re: Credit cards after bankruptcy

I have searched here. Most with a lot of answers are from years ago.. unless the search onky wants to pull thise for some reason for me
Message 7 of 14
Anonymous
Not applicable

Re: Credit cards after bankruptcy

Any certain cards that are best with them? Or to avoid?
Message 8 of 14
Anonymous
Not applicable

Re: Credit cards after bankruptcy

FireMedic1 and Pizza1 both gave you the answers you need. You have already started off with a decent card. Try Discover and/or a credit union. If you don't have an installment loan you can always get a Self Lender loan as well.
Message 9 of 14
Anonymous
Not applicable

Re: Credit cards after bankruptcy

Is it worth it to get a secured discover? Or if thats all they offer.. should i try elsewhere?
Message 10 of 14
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