Recommended Credit Cards

[Robert7]

Look to Credit Unions for secured cards

There's no reason why you should be paying excessive fees for a secured credit card. An annual fee under $100 is probaly ok. However, amounts beyond that or these ridiculous monthly maintenance fees is just another way for the ccc's to capitalize on your misfortune. Also an APR over 22% should be avoided. If you do your homework, you can find good offers for secured cards even for the recently bankrupt. Your best chance is with your local credit union. Credit Unions are much more friendly than banks and typical ccc's. My local CU has a secured card with a 14% APR, No annual fee, and no monthly maintenance fee. They require you to make an equal deposit for the credit limit I want. They also pay .75% savings on the security deposit. Also bankruptcy is not a problem. So, check with your local CU. They all vary, but generally have much better offers than the banks. If you've declared bankruptcy, don't even bother with the Well's Fargo's and Bank of America's. Hope this advice helps.

[HRx]

Click on the link below for information about various credit cards designed for individuals with bad, slow or no-credit. Please exercise caution, and common sense when applying for sub-prime credit cards! Also read, and re-read all the fine print. Also ensure that the credit card you ultimately decide to apply for is "managed" "issued" from an actual bank. e.g. Cross Country, Orchard Bank, et cetera.

Good Luck!

Click Here

[crackerbear]

There is Life after Bankruptcy

We have an Orchard Card that we got about 6 months after discharge on a Ch. 7. We have a $59 annual fee but no monthly maint. fee. We have been happy with them. We have gotten 3 credit limit increases in less than 2 years. We now also have a Providian Card with no annual fee and lower interest rate. We even had 6 months no interest on this card. We got this one about one year after discharge. We have bought 1 new and 1 used vehicle, financed through our Credit Union, since discharge. And now finally 2 years after discharge we are buying a house with no interest rate penalty. We close the end of June and that we be a great report to the credit bureaus. There is life after bankruptcy.

[tinroofrusted]

I recently got my Visa Rewards 660 card in the mail. So far, I am VERY happy with the customer service, as they have answered all of my stupid questions and any other troubles that I have had. I can pay online, view my account online, etc. I also get $100.00 credit increases after 3 months of on time payments, every 3 months... not a bad deal!

[invest1choice]

Aspire credit cards

Hey what is the interest rate you get after you file 7 just wondering what I would be looking at and what the fees are for having it?? thanks

[Minnymouth]

Best read the fine print on your Premier cards they offer you!!!!
Premier charges:
1. a monthly maintenance fee
2. a initial set-up fee
3. a 1st year activation fee
4. a $25.00 fee for each increase in credit line
5. a 9.9% interest rate which can increase to 27.9% if
they deem valid regarding your credit worthiness.

You can end up owing them $3-400 before you even get a card. And this has to be paid in order to use their card.
Talk about a "money-making deal" for them.

Why don't they just say "send us $500.00 and we'll LET YOU BORROW AGAINST IT". LOL

Its hard to re-establish credit but I'm sure there's an easier way than this..

Me - I'll wait..........and deal with cash for a while.

Minny

[king_rks]

Orchard Bank

I've had a Orchard Bank card for almost 4 months. No problems so far. Interest rate is 14.9 and limit is $300. I will ask for an increase next month. I only paid a one time $59 yearly fee. Online paying is good, and they only are behind one month reporting to my credit report.

[HRx]

I've had a Orchard Bank card for almost 4 months. No problems so far. Interest rate is 14.9 and limit is $300. I will ask for an increase next month. I only paid a one time $59 yearly fee. Online paying is good, and they only are behind one month reporting to my credit report.

Good for you! Keep up the good work!

[king_rks]

Orchard VS. Apire and other "Bogus" CCC

I definetly reccomend what most people post on this site about waiting out the credit card offers until one looks promising. My wife and I Discharged in Jan. 05 and within a month I decided the Orchard card offer was the best I received through the mail. It's funny, I was getting two or so a month offers from all kinds of "Loser Banks" with crappy deals while still waiting for discharge. Anyways I was approved for $300 dollars a couple weeks after sendig in the application.

I decided a couple months later to see if my wife would also qualify. We sent in her app. and she was given $750. I couldn't beleive she received a higher limit than me! I'm not complaining though. Anyways I just paid off the rest of my balance and I will wait till it posts before I ask for a limit increase.

Aspire is a joke with all the upfront fees they charge and reaccuring charges. Don't waste your time when you get these and others in the mail. If you can't be patient now, who's to say you won't struggle again with debt and put yourself in the situation we've all been in before? Wait it out and be patient, your credit will come.

Thanks for all the great posts from everyone.

[Badbea]

Capital One Platinum Card Offer Post Discharge

My husband and I filed Chapter 7 in December, 2003 and were discharged March, 2004. We each had a Capital One account included in our Chapter 7. Recently, each of us have been receiving numerous offers from Cap I for a pre-approved, 0% until February, 2006 and 14.9% thereafter, Platinum card with a $19 annual fee.

We are now interested in rebuilding our credit and are wondering if we respond to one of these offers, is there a chance that Capital One can come after us for the balances owed on our two accounts which were IIB. If there is a chance of that occurring, we obviously will not reply.

Any input would be most appreciated. Thanks very much.

[tinroofrusted]

My husband and I filed Chapter 7 in December, 2003 and were discharged March, 2004. We each had a Capital One account included in our Chapter 7. Recently, each of us have been receiving numerous offers from Cap I for a pre-approved, 0% until February, 2006 and 14.9% thereafter, Platinum card with a $19 annual fee.

We are now interested in rebuilding our credit and are wondering if we respond to one of these offers, is there a chance that Capital One can come after us for the balances owed on our two accounts which were IIB. If there is a chance of that occurring, we obviously will not reply.

Any input would be most appreciated. Thanks very much.

They absolutely can not come after you for any previous amount discharged in a Bankruptcy!

[Minnymouth]

Be sure you read the "fine print" REAL GOOD..... some of the cc companies offer you a cc again - but in the fine print you agree to have the previous balance added to your card in order to get it....CAREFULL....
If you agree, they "gotta cha"......(they don't ask if they can, you agree that they can and give your permission)....
Sneaky, huh!!!!

Minny

Minny

[shygal]

I just wanted to share some info with all of you....I found that National city bank offers a secured cc with only a $3.00 per month fee! There is no application fee ! It seems great and they report it to all 3 credit agencies as unsecured so you can boost your score !!!

[Minnymouth]

Hope They Aren't Handling Your Mortgage...............duh!!!!

Minny

[shygal]

Handling my mortgage ?????? NO, THEY ARE NOT....We have a mortgage with someone else, I just found this searching on the net.... thought it would be helpful to someone