Recommended Credit Cards

[RainMoM]

I was just declined online for a capital one secured card. I discharged them about 3k with a C7 1 week ago.

Are you serious ?? You bk'ed them and ONE week later you tried to apply again for a card ? Why so soon ??

[RainMoM]

Hello everyone.. I've been reading this thread ever since I joined this forum. If you take the time to read all the threads, there is some really good advice here, which i took!! someone said, "why rush into getting back into the trouble that you just got out of " such a good point.. So I waited over a year before i tried to apply for a card.. I was approved for $500.00 which to me is fantastic I don't need anymore more then that anyhow.. I pay cash for everything, I buy what i need now, not what i want !! guess what I'm trying to say is just slow down and don't worry about credit the first week out of Bk.. in time it'll happen..

[RichM]

Are you serious ?? You bk'ed them and ONE week later you tried to apply again for a card ? Why so soon ??

Chutzpah!

[IBroke]

- Got an unsecured Credit One card, $500 limit (no account with them before)

BTW, three weeks after receiving this card, they already raised the CL to $600.

[IBroke]

Are you serious ?? You bk'ed them and ONE week later you tried to apply again for a card ? Why so soon ??

Yeah, that's waaay too soon. I bk'ed Cap One as well (CCs AND Auto-Loan) but waited TWO weeks after discharge before successfully applying for their secured card.

[DorothyHick]

Hey guys, info really healps. :0

[iswmle]

I have been having beastly luck getting an unsecured card, so I am going to go with the secured. OK, I have about $1000 to spare that I wanted to put into a cd. I was going to go to BofA tomorrow and deposit it there, but at the last minute I decided to call Addison Avenue, as I had filled out an app, and they had tried to call me.

They said I was approved for their secured card that can be secured with a CD. The apr is 16.9% with no annual fee. So far I have only had my Credit One card which I have used sparingly and PIF. But it has this god awful $75 annual fee and over 20% apr.

I know nothing about Addison Avenue but I have read real good things about it. I hope it all goes well.

[RichM]

Addison Avenue FCU is the best financial institution I have ever dealt with, bar none.

-Rich

[iswmle]

I hope you are right, Rich! So far the customer service people have been very helpful. Do you know how long I should use the card before applying for an unsecured one? If I have good experiences with AAFCU then I would apply for one of their unsecured cards. I have a bank, but I think I would stick with CU's when it comes to the credit cards from now on.

[RichM]

I hope you are right, Rich! So far the customer service people have been very helpful. Do you know how long I should use the card before applying for an unsecured one? If I have good experiences with AAFCU then I would apply for one of their unsecured cards. I have a bank, but I think I would stick with CU's when it comes to the credit cards from now on.

I think the minimum is six months, and if approved, they just "graduate" the card you already have and remove the security requirement. But if it's secured by a CD whose term exceeds that time, then it really doesn't matter very much when you think about it.

I have one bank credit card at this time. Other than that, I am bank-free. I use AAFCU for my primary checking and savings accounts, as well as their credit card. I can do transactions at almost any CU, and I can make check deposits by scanning and uploading them. I even have an "Account Relationship Manager" who actually answers her own phone.

AAFCU is probably the only financial institution about which I can't find a single bad thing to say.

Kinda scary, actually.

-Rich

EDIT: Another thing I like about AAFCU is that the first $2,500.00 of deposits I make in a given day are available to me immediately. I can scan the check, and then walk down the street to an ATM and take the money out. Try that at a bank.

[iswmle]

I am planning on securing it with a CD, probably for about a year. I am excited about starting with AAFCU and putting away my Credit One card. I would cancel it, but I feel like it may dent my credit report.

I have had surprisingly good customer service with Bank of America. That being said, I never had a credit card with them, and knew I was not even worthy for their secured card so did not try. My checking and savings is with them, and I like the convenience of having a B of A on every corner, so I am planning on staying with them for the time being.

If my experience with AAFCU is a good one then I can easily see myself becoming a loyal customer. I believe after I get the secured card I am going to put to rest my credit card shopping for a year or two. I'm still up in the air on how many credit cards is a good number for me to have to help build my score up... but I think a $1000 secured card and a $300 unsecured is probably a good (safe) start.

[bkdone]

Navy Fed Credit Union...Update

I've only been with NFCU for a few weeks and here's a few things I wanted to pass along.

1) My DH and I applied for the Platinum Visa. It took about 2 business days for them to approve us...given a very generous CL. I am the primary applicant...HARD PULL...Equifax. After reading about the "trifecta," we applied for the Platinum MC as well, a few days later. ANOTHER HARD PULL...Equifax. 2 hard pulls on my credit report within 3 days from NFCU. DH is the co-applicant and they did not pull his credit at all.

2) Because the CL was so high, my utilization percentage went way down, and we've noticed a big bump in our credit scores...34 pts for me and 51 for DH. The account is already reporting on our credit reports.

3) Speaking of balance transfers...NFCU lets you do them online (just type in the company you want to pay, the address, and the amount) and they do the rest. The website says it can take from 7-10- days, but all my transferred cc accounts showed paid off within 2 days. It's very, very fast.

4) I havent gotten my cards yet, but I anticipate they will be here this coming week. Other posters have said the same thing...they are slow to get your cards out to you.

[NanaOf11]

BKDone... thanks for the info!

May I ask when your BK closed and if you had any credit unions that you discharged?

Thanks bunches

I've only been with NFCU for a few weeks and here's a few things I wanted to pass along.

1) My DH and I applied for the Platinum Visa. It took about 2 business days for them to approve us...given a very generous CL. I am the primary applicant...HARD PULL...Equifax. After reading about the "trifecta," we applied for the Platinum MC as well, a few days later. ANOTHER HARD PULL...Equifax. 2 hard pulls on my credit report within 3 days from NFCU. DH is the co-applicant and they did not pull his credit at all.

2) Because the CL was so high, my utilization percentage went way down, and we've noticed a big bump in our credit scores...34 pts for me and 51 for DH. The account is already reporting on our credit reports.

3) Speaking of balance transfers...NFCU lets you do them online (just type in the company you want to pay, the address, and the amount) and they do the rest. The website says it can take from 7-10- days, but all my transferred cc accounts showed paid off within 2 days. It's very, very fast.

4) I havent gotten my cards yet, but I anticipate they will be here this coming week. Other posters have said the same thing...they are slow to get your cards out to you.

[bkdone]

BKDone... thanks for the info!

May I ask when your BK closed and if you had any credit unions that you discharged?

Thanks bunches

Our Ch. 13 was discharged in Sep. 2006, so it's be awhile. It seems that rebuilding after a Ch. 13 takes longer than with a Ch. 7. Its been only within the past year or so that we've finally gotten a decent rate on anything. We got all the customary "rebuilder" cards...Hooters...Orchard...at awful interest rates, and I'm so glad to see those little cards paid off with my balance transfer to NFCU. Some of those rebuilder cards had 26% interest rates. While I appreciated having them to re-establish our credit, it's way past time to move on.

At the time we filed BK13, we had a credit card with a CU at the time, but the balance was zero at the time we filed. The CU closed our account anyway...we didnt have the option to keep it open. Our *worst* creditor was GMAC. They tried every tactic in the book to sink us, and to this day, they still insist the unsecured balance was "charged-off" instead of "discharged."

[ben1381]

filed Chapter 7 May 2010 discharged August 2010 Cap one was in BK applied for Cap one card October denied,offered secured card which I declined, got unsecured card in December 2010 $750 credit limit 24.9% interest rate $19 annual fee waived first year I will be negotiating with them for better terms over the next few months