how do i transition to more prime cards, if possible?

[Anonymous]

i have a discharged chapter 7 bk from 8/2009.

i have 2 credit cards:

1) orchard bank 900 limit- 0 bal open since 8/2009 (annual fee 39)

2) credit one bank 800 limit- 9.25 bal open since 8/2009 (monthly fee 9.25)

i have 1 installment loan:

3) limit 3000- 1960 bal open since 12/2010

my AAoA is 7yrs + (mos)

oldest accts reporting from 1994 eq, 1999 tu, and 2000 ex

my question is "how do i transition to more prime cards?" i don't want a lot of cards, just 2 that have good limits and reasonable fees. i currently pay 111.00/yr for the credit one card. the orchard bank card is ok but since cap 1 bought them i don't know what will happen later down the road with that card. this is not something i am looking to immediately do since i am purchasing a home. but i knew the 2 cards i have would only be rebuilders. i did include quite a few in my bk, (cap 1, chase, hsbc) so i know this will have a direct affect on who may or may not approve me for credit. i am a member of a bank as well as a credit union. thanks in advance for any advice

[Revelate]

Solve the mortgage first assuming you're doing that within the next 6-12 months.  Once you close, then worry about new credit cards.

At that point you could go to any of literally dozens of places to get a better card than that CreditOne honestly.  Chase is probably a non-starter from what I've read, but with your scores and your fading BK most others will be availble.  C1/HSBC are the same entity (and FWIW HSBC didn't blacklist you anyway with your holding an Orchard) and you can skip that entirely. I think there are examples of pretty much all lenders approving you with an old BK if the rest of your profile is fine, including Amex.  Traditionally stingy lenders like BOFA might be an issue; however, your credit union is an excellent place to start anyway.

[Anonymous]

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@Revelate wrote:

Solve the mortgage first assuming you're doing that within the next 6-12 months.  Once you close, then worry about new credit cards.

At that point you could go to any of literally dozens of places to get a better card than that CreditOne honestly.  Chase is probably a non-starter from what I've read, but with your scores and your fading BK most others will be availble.  C1/HSBC are the same entity (and FWIW HSBC didn't blacklist you anyway with your holding an Orchard) and you can skip that entirely. I think there are examples of pretty much all lenders approving you with an old BK if the rest of your profile is fine, including Amex.  Traditionally stingy lenders like BOFA might be an issue; however, your credit union is an excellent place to start anyway.

 thanks revelate,

definitely the house is more of a priority right now and i wouldn't do anything to jeopardize everything i've been working so hard for. although i feel a sense of loyalty to these 2 cards, i just wanted to get some insight on how to possibly move on from them and how it will impact my credit scores since they are the only two cards i currently have.

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[Anonymous]

Assuming your scores are FICOs which they look like they are, you should qualify for some decent cards.  What CC companies did you knock out in the BK btw?  Some might blacklist you because of that and others might not.  Might want to think about walking into some local CUs with hard copy of your report and FICO score and see what the loan officer thinks.  Might be worth getting a replacement card for the credit one if your mortgage is a year out.  But I wouldn't close that credit one card before getting a replacement.