Revolving Credit?

[gamblingsucks]

For the last 2 months I been trying really really hard to clean up my credit. I was discharged Ch7 in August 07 and bought a car with a 25 % APR (long story) Anyway my goal is to have this refinanced by January and ive taken the necessary steps to clean up my credit. Ive disputed all negative information on my reports and made very very good progress and I also signed up for Lexington Law this month

However the only thing concerning me is come January after they see that ive been making on time payments to my Car, and Student loans is that going to be enough? Could I get denied for "Lack of Revolving Credit"? I have no credit cards and i cant get one with Cap One or Orchard because I BK'd on them. My only choice is First Premier and they suck like hell. Is the only option for me for revolving credit either First Premier or a Secured Card

Thanks,
Sorry for the Horrible Grammar

[Boscoe]

I'm going to guess that you will likely have a problem trying to refi, especially with nothing good being added to your credit file (i.e. no credit cards). Try to find a secured card that will take you. I plan on waiting at least 6 months to apply for one of those. Fortunately, I got lucky and a few of my credit cards survived the bk......

[CindyLou]

did you try cap one and orchard? my husband bk'd cap one and they gladly sent him a new card 2 months after!

[Bandit]

did you try cap one and orchard? my husband bk'd cap one and they gladly sent him a new card 2 months after!

Cool. I have never ever even recieved anything from Cap One for credit. I have most of the others but not that one.
Maybe they will give me a card afterward?

[SinkingFast]

Just give it a little more time, GS.

You've done the clean-up. And you've got a couple of trade lines reporting positively for you. BUT, it's only been a couple of months since Discharge.

I know it's tough, but Patience is really important when going thru and after filing BK.

Go with your gut on First Premier. They need to slither back to the primordial ooze they came from.

Give it a bit longer and see if you don't start getting offers in the mail.

[BKTango]

While I don't advocate going out and obtaining credit cards right after bankruptcy I do see the need in one good, low limit card for a small emergency situation. I agree with SinkingFast, patience and time really is going to be key, especially after you now have done your clean-up.

On that note, here's my credit card advice to you if you feel you really need to have one at this time to help you along.

Stay away from First Premier. Their rates and fees are horrendous and yes you can and will get better offers.

Try Capital One or Orchard. My husband and I both bk'ed Capital One accounts (2) and they were the first to offer him a new one. Which is the one emergency card we went with, $500 limit. It's not much but it's enough for us. He uses it on occasion for under $150 purchases and then pays it off in two payments just to show some history.
Try Washington Mutual, they are VERY bankruptcy friendly and offer good terms and limits.
You could always try Hooters. Again very bankruptcy friendly and decent limits, but they do have fees.

Your best bet would be try Capital One first, and then try Washington Mutual. Then if all else fails and you really need a card, do some research on the others and decide what is best for you.

The one key thing to remember is do not accept the fact that you will have to pay large interest and numerous fees. There are many cards and companies out there that are bk friendly and very generous on the interest and small to no annual fees, you just have to seek them out and apply with them if you don't receive anything in the mail from them. Good luck to you!