For kicks, I pulled my credit report last week. It showed 3 score avg of 650. So, I thought I'd give it a shot, I applied for two cards, at the same time. One thru HSBC, the other, one of those ones where you have to pay about 180.00 in fees, plus montly fees, plus high interest, you know the ones.
Anyway, I come home today, and in the mail is th HSBC one, American Dreamcard. The interest rate sucks, 21.99 for purchases, 29.99 for cash advance, however, NO ANNUAL FEE, no montly fees, etc. Its a regular card, with a high rate, as I expected. Now the kicker. 1900.00 limit. I was hoping for 500.00. So, I guess it is possible to get credit, even in these bad times, and even so soon after a BK. BTW, I filed in 8/07, discharged in 11/07. I've been paying cash for everything since. If the "other" card shows up, I'll just cancel it, since their terms say it can be cancelled within 30 days.
So now I feel like I'm back on the road to recovery. My goal is to use this card for my normal bills I can put on a card, like my internet service, and then just pay it off every month. Hopefully, this will raise my score some more, and maybe in another two years, I can save a little bit up, and buy a small house.
Oh, and one more thing, HSBC was one of my creditors who got discharged. But I also paid off alot of accounts with them before this whole BK thing, so maybe that counted for something.
Anyway, I come home today, and in the mail is th HSBC one, American Dreamcard. The interest rate sucks, 21.99 for purchases, 29.99 for cash advance, however, NO ANNUAL FEE, no montly fees, etc. Its a regular card, with a high rate, as I expected. Now the kicker. 1900.00 limit. I was hoping for 500.00. So, I guess it is possible to get credit, even in these bad times, and even so soon after a BK. BTW, I filed in 8/07, discharged in 11/07. I've been paying cash for everything since. If the "other" card shows up, I'll just cancel it, since their terms say it can be cancelled within 30 days.
So now I feel like I'm back on the road to recovery. My goal is to use this card for my normal bills I can put on a card, like my internet service, and then just pay it off every month. Hopefully, this will raise my score some more, and maybe in another two years, I can save a little bit up, and buy a small house.
Oh, and one more thing, HSBC was one of my creditors who got discharged. But I also paid off alot of accounts with them before this whole BK thing, so maybe that counted for something.
Comment