@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.
