Orchard and Household credit cards are good to have after a discharge. while both have annual fees and start you out with low limits, it is how you behave after obtaining them to start rebuilding your credit.
I filed in July 2004, and my chapter 7 was discharged in October. In January 2005 Orchard offered me a MC with a limit of $300/annual fee of $39. Later in 2005 - October - they offered me a Visa - same terms. And by now, June 2007 they raised both limits to $1000.
Household is somewhat slower in increasing limits. My wife went with them after she filed in March 2002/discharged in June. Household first offered her a MC with a limit of $300/annual fee of $39, and a few nonths later a Visa with the same terms - but as of now her limits on both are only $500 .
Other good "after bankruptcy" cards are Washington Mutual, Merrickbank, and Aspire - all no annual fees cards, and relatively high limits. WAMU started me out with a limit of $1500 sometime in 2005, and in 2006 raised the limit to $2500, and will probably raise it further soon. Merrickbank started me out with a limit of $1250 and now have me at $1950. Aspire start $1250 - limit now is $2750.
I filed in July 2004, and my chapter 7 was discharged in October. In January 2005 Orchard offered me a MC with a limit of $300/annual fee of $39. Later in 2005 - October - they offered me a Visa - same terms. And by now, June 2007 they raised both limits to $1000.
Household is somewhat slower in increasing limits. My wife went with them after she filed in March 2002/discharged in June. Household first offered her a MC with a limit of $300/annual fee of $39, and a few nonths later a Visa with the same terms - but as of now her limits on both are only $500 .
Other good "after bankruptcy" cards are Washington Mutual, Merrickbank, and Aspire - all no annual fees cards, and relatively high limits. WAMU started me out with a limit of $1500 sometime in 2005, and in 2006 raised the limit to $2500, and will probably raise it further soon. Merrickbank started me out with a limit of $1250 and now have me at $1950. Aspire start $1250 - limit now is $2750.
Comment