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So my wife and I are filing for bankruptcy ch 7. Im looking into what are the best cards to have so I can work my way back there. Were looking at being discharged in late May, filing this week sometime.
burned NFCU Cash Rewards in my bankruptcy for around $6500,
Chase FU for $3800
Capital One for about $2000 over 3 cards
Avant $400
Credit One Amex for $1200
Ive heard this makes anything from Navy Fed out of the question in the future.
Is chase possible again? I had discover but its been closed and paid 18 months prior to filing BK7, Ive even been struggling getting a secured card from them. I hear Capital One is very forgiving
Cards that I hear are good goal cards.
Capital One Venture X
Amex Gold - Majority of my spending is grocceries
Chase Sapphire Preferred.
These would all be goal cards, Im aiming to achieve in time. Amex is the only one of the 3 I didnt burn in my bankruptcy. My chase checking account is still open but I transfer money out of there and dont keep money in because APY is terrible on their checking and savings.
I feel like these cards would benefit me the most not the biggest fan of capital one in general so I still prefer chase, but wasnt sure if theyd be a possibility down the road
Chase = blacklist for 10 years. Very small possibility of getting in sooner, but they will never forget you burned them so that will cause issues.
Capital One = will be one of your first cards coming out of bk because one of the few that will give you a healthy limit
Avant = not sure how they handle being burned. I assume they'll give you another.
Credit One = probably another one of the first cards you'll get after bk.
Amex = blacklisted for 61 months after bk.
Navy = pay them back and you are free to apply for credit products again.
