Department Store Credit Cards after BK...

[prettyobk]

Has anyone gotten any department store credit cards since your bankruptcy was discharged?

[debbie42]

We are a few weeks away from discharge...haven't applied for any new cards, and do not plan to BUT my Kohls' card I had before filing with a $0 balance made it through, we use it and pay if off to start rebuilding credit. We also had an empty card from The Company Store (a catalog bedding store) that made it through as well.

I have heard a lot of good things about Kohl's making it through people's bk's, so they may be a good place to try first.

Good luck!!!

[StartingOver08]

Yes, I just got a store credit card from Jared's. I was discharged Jan 2009 and the credit limit is $5100. I don't even like jewlery so it is easy for me to resist using the card...but it is great for utilization purposes (shows an extra $5100 in available credit).

On a credit board I visit regularly one of the suggestions is to keep your overall utilization between 1% and 9% (maximum) of your credit limits to build up your score. Jared's was an exceptionally easy card to get. See this link http://debt-consolidation-credit-rep...rling+trifecta

[aces67]

Do these store cards build your credit as good as a regular Visa or Mastercard would?

[Flamingo]

Has anyone gotten any department store credit cards since your bankruptcy was discharged?

Some will and some won't. One must remember, as hard as it is to accept, that a BK stays on your credit reports for 10 years after filing a Chapter 7 and 7 years after filing a Chapter 13. All it takes for some creditors is to see that BK and you will be instantly denied. If you listed a creditor to which you are applying that is affiliated with certain stores, you will probably be denied as several creditors (i.e., Chase) are well known for blacklisting people who include them in their BK filings permanently. Some creditors are BK friendly (i.e., Orchard Bank) and a few department stores (Walmart, Target). Applying does not mean you will get approved and one will receive more denials than acceptances over the course of the BK on credit reports. Some people post on here how they obtain credit cards after discharge and then many post that they are not able to obtain them. If you had good credit in the years leading up to BK, that can work as a plus in obtaining credit after discharge. Other than that, it is a crap shoot and one can rack up many denials (hard inquiries) on one's report which stay there for two years.

Best advice? Time is your friend...go slowly after discharge and ride out that 7 or 10 years being prudent and careful with your credit. Otherwise it doesn't take much to fall back into the credit trap and find oneself posting on here again in several years that they need to file again.

[StartingOver08]

Remember, when you are in the rebuilding your credit stage you do have to actually get new tradelines. Simply waiting 7 to 10 yrs to apply for new credit will not help. There are two stages: Repair and Rebuild.

It is true that there are cc's that blacklist BK filers. It is a good idea to visit the credit boards to find out BEFORE you apply which of those cards blacklist and make your applications accordingly. It IS a good idea to PLAN your rebuilding process so you don't rack up unnecessary inquiries. But if you wait 7 to 10 yrs before you apply for new credit, it will be more difficult to rebuild, not less difficult because there will be no new history for the past 7 to 10 yrs.

Just because you have a card, does not mean you have to use it all the time. Keeping your utilization less than 9% of your outstanding credit is very, very important. If you have a low limit VISA, like Orchard, 9% of a $300 credit line is $27 or less! That is not even a tank of gas. So you want to have your four lines of credit so you can build up a decent credit line with a card so a tank of gas won't blow it for you! JMHO.

[whipster1]

Agree with all of the above. Macy's seems to be BK friendly also, and they use DSNB which does some more store cards I reckon because their underlying bank's name is "Department Store National Bank"...could be one to try as well as HSBC or Hooters. Jareds and Kays will help with positive trade lines, and they sell swiss army knives if you don't happen to be a chick

[Flamingo]

Remember, when you are in the rebuilding your credit stage you do have to actually get new tradelines. Simply waiting 7 to 10 yrs to apply for new credit will not help. There are two stages: Repair and Rebuild.

It is true that there are cc's that blacklist BK filers. It is a good idea to visit the credit boards to find out BEFORE you apply which of those cards blacklist and make your applications accordingly. It IS a good idea to PLAN your rebuilding process so you don't rack up unnecessary inquiries. But if you wait 7 to 10 yrs before you apply for new credit, it will be more difficult to rebuild, not less difficult because there will be no new history for the past 7 to 10 yrs.

Just because you have a card, does not mean you have to use it all the time. Keeping your utilization less than 9% of your outstanding credit is very, very important. If you have a low limit VISA, like Orchard, 9% of a $300 credit line is $27 or less! That is not even a tank of gas. So you want to have your four lines of credit so you can build up a decent credit line with a card so a tank of gas won't blow it for you! JMHO.

Please note I didn't recommend not applying during the 7 to 10 years after discharge, but to be prudent with one's credit and basically not make numerous applications for credit but to take things slowly. That works to one's benefit more than trying to rush and get several cards at once hoping to build credit when most, if not all, can be denied.

Many folks who post on here after discharge feel so good about being debt free they charge like gangbusters to start rebuilding their credit. Most are in for a big surprise and huge letdown realizing they have to deal with the consequences of filing.

[AMISLANDER]

I had one dept store card that survived the bk & got Target a couple of years ago.

[jennordhavn]

I got Kay's and Jared's. Both are jewelry store cards and I've only used one for about 1/4 of the credit limit. They are good for utilization.

[canada2000]

my wife's kohl's card survived also. It had zero balance when we filed. We were discharged last month andf used it recently and it is reporting properly. We have not applied since discharge for anything yet.

[prettyobk]

I had a Macy's card in college, and one with my mother as a teen, hardly used either. They are not on my credit report anymore so I am wondering if I will be able to get another Macy's card...

I had Limited, Lerner (before it was NY&Co), Express, and Service Merchandise which no longer as this, but we're talking more than ten years ago. I really just want a Saks or Bloomingdale's Visa. I pay for just about every hing cash nowadays anyway so I don't think I'll use them for much anyway.

[Amy26]

I was able to get a Lane Bryant card...but it was wierd... I had a lane bryant card at one point in the past but had closed it a long time ago. When I applied on the website, I got the card in the mail saying hey we saw that you already had an account with us before, so we reopened it.

They lowered my limit...but I don't care. Its a card and its on my report now. Just charged a little bit on it and will pay it off in 1-3 months. I'm still trying to get a regular card though... my credit monitoring says my score is being affected because I do not have a major credit card.

[prettyobk]

Have you had trouble getting a major credit card or is it that you just haven't applied?

I was able to get a Lane Bryant card...but it was wierd... I had a lane bryant card at one point in the past but had closed it a long time ago. When I applied on the website, I got the card in the mail saying hey we saw that you already had an account with us before, so we reopened it.

They lowered my limit...but I don't care. Its a card and its on my report now. Just charged a little bit on it and will pay it off in 1-3 months. I'm still trying to get a regular card though... my credit monitoring says my score is being affected because I do not have a major credit card.

[Amy26]

I can't get a major credit card to save my life! I might have to get a secured one. I did have a problem with my experian report saying that my mortgage was late ... which might have prevented me from getting approvals. I finally got it removed and it bumped my score up to 641. I know Orchard and Hooters use Experian so, perhaps after 30 days I will try again.

Capital one just keeps saying I have too many deliquent capital one accounts...