Has anyone gotten a non secured card after bankruptcy chapter 7. I am about one year out of discharge. I have obtained one small non-secured card with HSBC limit of $300. I am looking for another but I do not want to start randomly applying. and no, First Premier Bank. They take advantage of people who had a credit problem
Thanks in advance.
Without any comment to the fees, CL's, CS, etc, I am aware of the following CC's that cater to bad credit, including post BK:
2. First Premiere
3. Credit One
I like Orchard for a rebuilder (it's my mantra). It has a decent interest rate and AF. FP and Credit one are in a different realm on both of those issues.
Orchard is an HSBC product and HSBC sometimes like to see 18 months between opening new (HSBC) cards.
How long has it been since you opened HSBC? Consider waiting 12 months before apping for your second card.
And, I have to ask, why do you want a second card? You only need one bank card - which you have - to keep the FICO gods happy. Sometimes when we're rebuilding we're overly anxious to acquire new credit or new cards. You're probably doing just fine!
I was out of discharge for 20 months when I decided to get my first post-BK card (Juniper, September 2007). I suppose I could have apped for an unsecured card earlier but wanted to have a nice, steady income and a well-fed piggy bank before I did so; I also never apped for a secured card because, in the year or so after being discharged, I was barely able to do more than make ends meet so I didn't have much money to tie up in a secured card.
I don't know if you've checked this thread or not ("BK Friendly Credit Cards"): http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&thread.id=207
I applied for--and got--two of the cards mentioned in that thread (the Walmart Discover Card in May '08 and the Cabela's Visa in October '08).
I agree that First Premier is one bank to avoid. Others I wouldn't touch with a 39½ foot pole:
Good luck with your continuing credit rebuilding efforts.