Cannot get credit card

[Anonymous]

I got First Premier and Capital One secured cards back in 2004.  After 1 year, the Capital One moved to unsecured status and they sent me my secured deposit back.   Once it went unsecured, the limit started reporting...and, actually they doubled my limit to $500 from $250 automatically.

In 2005 (6 months after getting the 2 secured cards), I got an unsecured Orchard Bank card ($300 limit) and a Chevron Rebuilder card ($300 limit).  I ended up cancelling the First Premier card because it will never go unsecured and won't really help me in the long run...but I had it for 2 years.  In November of last year, Chevron automatically doubled by limit to $600, which was a nice surprise and will help me a lot since I'll never be maxing out $600 worth of gas. 

My scores are still not where they should be but my biggest collection fell off and hopefully one day soon I'll be able to get better cards.  I have a collection for $88 from May 2007 which I have no idea about and a medical collection from 2005 that is for $600.  The 3 cards I have open are never late and my scores with Eq, Ex, and Trans are, respectively, 604, 624, 628 with no recent inquiries (with the exception of today when I applied for a couple more cards just to see).  I got approved for the Hooters Mastercard but no idea of the limit yet and I believe it is a pay in full every month kind of card...but, for now, it will do.

[Anonymous]

Here is my situation.  I was a federal Civil Service employee for 26 years.  I had a house and lots of credit.  I bought my dreamhouse in 2002.  High in debt but managable 30yr fix 6.75%, a respectable rate at that time.  2003 I am disabled, I lose my Military position in the Ohio Guard and therefore lose my Civil service position.  Income drops over 50%.  $200,000 in debt besides the two houses.  Declare bankruptcy in 2005.  Chapter 13, pay it off over time.  December 2007 I complete the repayment plan.  I still have the dreamhouse and 6.75% fixed loan.  The other house is taken back in lieu of foreclosure.  I then get my credit reports from MyFico.  Astoundingly enough there are pages of errors.  Creditors listing balances that were discharged by the court, a court action that I won shows a $24,000 judgement against me that the judge had dismissed.  even more amazing was my scores.  Transunion 682, Equifax 670, Experian 659.  I was sure my scores would be worse.  I looked at WAMU credit cards on the MyFico site so when WAMU contacted me I thought "What The heck, I need to reestablish credit and I want an account without a yearly or monthly fee."  I opened a free WAMU checking and a free WAMU saving account.  I deposited $20.00 in each.  The accounts pay interest at 4%.  WAMU then asked if I wanted a credit card, No annual fee, 0% for 6 months minimun $500.  So I filled out the application a few minutes ago and sent it in.  They approved me for $4,000.

[Anonymous]

I had same problem.  Spoke to my mortgage broker, he said to get secured loan (CD Loan) from bank.  I gave bank $1,000, in turn they gave me a loan for $1,000 which is appearing on my credit report as unsecured.  Also, I finally got a credit card through Orchard Bank - started at $300 limit in Sept 2006, has been slowly increasing, and now has limit of $1,100.  Should mention that not all banks will give you CD loan for such a small amount.  They bank we have our accounts with would not do this.  I actually had my friend talk to her sister at the bank to get this deal, however, you just need to keep pursuing it.  I read that if you go into the bank and meet with the loan rep and explain that you want to establish a long-term relationship and you will bring your accounts to them, that they will work with you.  The bank I have the CD Loan has now offered to give me $8,000 towards a car loan.  Don't give up.

[Anonymous]

Well, I'd hate to think the people on here are simply "blowing smoke", because what's to gain from it?  It's not as though we know each other and are trying to impress one another.  At least, I'm not.

I had a BK discharged May of 06.  A good friend of mine who is a mortgage broker, explained to me a few years ago that once you file a BK and it's discharged, you can get credit BUT, you'd better be sure you make your payments on time all the time.  The feeling is that once all your debt is wiped out, you have no excuse for late payments or non-payment so it isn't a fluke.  You might not get the best rates but hey, that's the way it is.  Creditors need to feel you out to see if you're going to resort to your old ways and lots of folks do.  Who can blame them?  Business is business.  I felt like I had no one to blame but myself for ruining my credit.  I had excellent credit and acted like a fool by buying my townhouse and using my cards to buy everything new for my house - and I mean everything. 

My dad told me, "Hon, now don't you go and buy all new stuff for your house and run up those charge cards".  What did I do?  You guessed it.  Plus, I wrote my mortgage payments with the checks the cc companies gave me.  I learned my lesson the hard way and I will never, ever, ever be irresponsible with my credit again.  My philsophy is: to live the way you want, you need either lots of cash money or very good credit.

[Anonymous]

I found when getting new cards after bankruptcy, that no matter what my score, certain companies won't give me one.  Most often it turned out they're affiliated with a company I'd included in my bankruptcy, so they have it in their personal files that I wrote them off.  I have scores now in the low 700's and still can't get something from Citibank or its affiliates.  Chase won't give me anything either, although I reaffirmed my car loan with them, and I've had a bank acct with them for 10 years.  I had a card with them I listed in the bankruptcy, and so they deny me flat out still.  All the cards I have now (and yes, I did get cards even with my scores in the mid 600's not long after bankruptcy) were from companies I never had a card with before, and didn't include in the bankruptcy.

[NICKI183]

Jenn I agree. Six years into my bankruptcy I have had my score go up and down.  The past six months I have made some kind of progress. 

Reading this formum in the last few weeks has put a lot of the questions I had to rest.

Back to your issue with re-ssuing cards on BK.  I agree, the prime cc lenders wont give you a new card, but any of the sub sub-prime lenders continue to give you back cards after the BK.

I wonder if after the BK is removed, 10 yrs, do they forgive and forget?