New credit cards for a 7yr old BK???

[Anonymous]

Hi everyone, I have a 7yr old BK on my record and have the usual starter cards for the last 5yrs...Orchard, CAP1, First Premier. I happy with CAP1 because just just doubled my credit limit to $4,000! Orchards has me at $1,100 and First Premier has me only at $750 and that is after they did a hard pull for a CLI...not happy with First Premier and all there monthly fees on top of annual fee. Would like to replace it with a Chase or Discover but been hesistant to apply due to BK...Any suggestions?? The last few months all the baddies from the BK have been dropping like flies off my reports and would like to start getting better cards.

Scores: EX (PLUS) 731, TU 678, EQ ??

Thanks in advance for you help!

[Creditaddict]

Discover you can do the pre-qual thing before you apply...

Was Chase or Discover in your BK because Chase Blacklists... but not sure if that is just 7 or 10 years or forever like Amex.

[Anonymous]

I have never used Chase or Discover so they were not part of my BK...Citi was however so not sure if they'd take me back.

[Creditaddict]

pretty sure citi black lists

I don't think Chase is remotely BK friendly and I don't know about Discover.

[Anonymous]

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@Anonymous wrote:

Hi everyone, I have a 7yr old BK on my record and have the usual starter cards for the last 5yrs...Orchard, CAP1, First Premier. I happy with CAP1 because just just doubled my credit limit to $4,000! Orchards has me at $1,100 and First Premier has me only at $750 and that is after they did a hard pull for a CLI...not happy with First Premier and all there monthly fees on top of annual fee. Would like to replace it with a Chase or Discover but been hesistant to apply due to BK...Any suggestions?? The last few months all the baddies from the BK have been dropping like flies off my reports and would like to start getting better cards.

Scores: EX (PLUS) 731, TU 678, EQ ??

Thanks in advance for you help!

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Hi Maverick,

Welcome!

IMO - You'll be fine with the Orchard and Cap One.  First Premier is, in and of itself, likely not doing you any good FICO-wise.

Closing FP is likely a good move whether you open a "replacement" card or not.  The primary issue is utilization and number of accounts reporting a balance.  So they key questions become - what is your current utilization on each card and overall, and how many accounts (counting all revolving and installment accounts) do you have reporting a balance?  What impact will a new card have on your AAofA?  Is there a reason you prefer three open cards to two open cards?

I have Chase and Discover on the back burner until my BK falls off.  My notes from these boards indicate Chase is highly unlikely to open with a BK reporting.  Discover may - but it is also unlikely.  In any case, you'll want your scores to be in their typical range with or without a BK reporting.

There's a BK-Friendly Cards thread that may be helpful to you.  And I'm a fan of Barclay's Juniper card - nice CLI's and they do work with BK's - you'll just want to keep an eye on your FICO score in combo with your BK when you're deciding when, if, and who to app with.

I see you're posting a PLUS score, which is usefuless (sorry!), but it looks like your TU may be a FICO score pulled here?  Juni pulls TU - so you may want to check out what types of scores they've been approving as you move forward.

[Anonymous]

I tried discover with my score EQ 719 and they denied due to bk which is 8yrs. No baddies sense.

Called to recon and was told nothing they could do until BK comes off.

Oh but Barkelys best western card gave me a limit of $2500 to start.

[Kris1228]

i was approved june 1st 2010 with a 9 year old BK with discover. starting limit was 1000 and now up to 1700.00 which were 2 350.00 auto credit limit increases..