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I am in the 12 month of my chapter 13 and all my cards are AU from my wife. I need a card in my
own name to start my rebuid. My scores are 576,608,627.
What would be the best card to get approved for and start my rebuild with?
I am pretty sure you have to ask to get cards while in a 13. AS far as best cards to get approved for that is tough to say we need more information like who is included in the bankruptcy. A secured card if possible may be the best option and then in 6 or so months get a unsecured card.
@Mjhall85 I think you are correct, but I believe one can get up to $300 credit line without trustee approval.
Best of luck!
@Rwil72 I would suggest Discover if you haven't burned them. Also now might be a good chance to take a look at credit unions with secured cards that graduate.
If you have a way in, Navy is a great choice as well.
Thanks for the info, I didn't burn any credit card companies when I filed. Mostly trade vendors from my small business I had.
@Rwil72 First, look at your confirmation order. To me, getting a credit line of $5000 does not mean you incurred $300 in debt. Just put a candy bar on the new credit line and pay it off the next day. Done. Don't be trying to do complicated games like the rest of this forum since you are in a 13 with a restrictive credit requirement. One candy bar a year and done. Leave it at zero balance. Do not incur debt.
Use the preapproval thread on myfico forums to find some new lenders. Dell (webbank) could be offer a big credit line to start. Comenity has a tendency to offer big lines and reduce it when you do the app. Non-store cards might be hard to get this early in a 13. If you get Dell, buy a ream of paper or something real cheap.
Finally, get a secured credit card. That's better than using one of the expensive predatory credit cards. The only time you'd use a predatory lender is if the inital credit line is $1000+ (rare).
Grain and kikoff are BK friendly. I think Grain is only taking new customers on iphone app. Kikoff is closed right now.
Good luck.
Thank you