Question about Orchard Bank and other cards.

[kibby97]

Its been almost 7 months since my discharge. If I am looking to start to rebuild my credit and obtain a Credit Card. Can you apply for a card that was included in my discharge. I really like Orchard Bank but didn't know if i should even try since they were included in my discharge. Also I reaffirmed the debt on my auto loan through Toyota Financial and I was told that helps my credit too.

[matchu]

I discharged an Orchard Bank and was just approved for a new one two months ago, about 5 months after my discharge date!

[RW3]

I was discharged from Chp. 7 back in June d was just pre-approved for an Orchard Bank Gold MasterCard w/ a variable APR of 19.90%, a one time fee of $19, and an annual fee of $74.

I have not gone through he formal application process yet.

My annual household income is 119,000

What kind of credit limit can I expect from them?

Thanks!

[jcregs28]

Rw3,

you can expect around $300 initial credit limit, $79 dollar fee on first statement. That's what I got, and I applied and obtained that Orchard card 1 month after my 341 meeting in June.

[RW3]

This might be a dumb question but are there cards where I could possibly get a much higher/substantial limit at this point?

We have cash coming in after the 1st of the year but would like to get a gas furnace installed before the winter, the cost is around 5600, but we will get a 1500 tax credit when we file. Last year we really got ripped off by our oil company.

[jcregs28]

RW3

The only ones I've heard of given substantial limits (e.g over $1000) are credit union cards...unless you want to put the omeny into a secured card.

I was just discharged last month, already approved for Capital One ($300), Orchard bank ($300), Hooters ($300), and Credit One Bank ($200)...also applying to DCU for their secured credit card asap.

[RW3]

Thanks. I'll take a look at my credit union and see what they say.

[aces67]

Most don't give high limits. Dh was approved for a Cap One card. The starting limit was only $300 but the yearly fee was low like $39 I think.

[jennordhavn]

I BK'd Orchard and was approved for $300 limit card with $59 annual fee about 6 months after discharge.

[carbk]

Based on what I have read on here its really hard to get approved by cc companies which you have discharged in bk but since we are talking about Orchard Bank you might still be able to get approved from them. I know that I was approved by them one month after discharge (I didn't have them before my bk though). You may also want to try Capital One and Hooters Mastercard. Those are all bk friendly....

On a side note...I personally don't think re-affirming your auto loan was a smart move....so basically if you default on your payments and they repo your car they can come after you with all the repo fees, towing fees, negative equity fees where as had you not re-affirmed you could have still kept your car (provided you made your payments) but if something where to happen later on down the road and you couldn't continue paying for it you could simply turn the car in...NO QUESTIONS asked.....because it was included in your bk. Now your hands are tied with that auto loan....GL

Its been almost 7 months since my discharge. If I am looking to start to rebuild my credit and obtain a Credit Card. Can you apply for a card that was included in my discharge. I really like Orchard Bank but didn't know if i should even try since they were included in my discharge. Also I reaffirmed the debt on my auto loan through Toyota Financial and I was told that helps my credit too.