is it possible to obtain credit cards after bk

[jennordhavn]

How long did you wait between applying for your Orchard and HSBC Best Buy? I would like to get a regular HSBC card but I only got the Orchard in November so I have to wait a bit before applying to HSBC - or so I hear.

I got Orchard in September and HSBC BB RZMC in December.

[liz417]

I applied to Cap 1 about 2 weeks after discharge and got a $500 limit, I also applied for my hubby the following week at cap 1 (three weeks out of discharge) and he got a $1000 limit. So yes, it is possible to get credit right after discharge.

[ForumReader]

I applied to Cap 1 about 2 weeks after discharge and got a $500 limit, I also applied for my hubby the following week at cap 1 (three weeks out of discharge) and he got a $1000 limit. So yes, it is possible to get credit right after discharge.

That is right. The other day I received a Premier One cc offer (I shredded it so fast I can't remember the name of the creditor )and it offered ridiculous fees of one time enrollement fee, annual fee, program fee and monthly fees!

[CCCrazy]

I got Orchard in September and HSBC BB RZMC in December.

I received the Orchard in November and JUST applied for the HSBC BB RZMC and was APPROVED!!! I won't know all of the details until I get my card in 1-2 weeks - thanks for the info!!! WOO HOO!!!

[liz417]

That is right. The other day I received a Premier One cc offer (I shredded it so fast I can't remember the name of the creditor )and it offered ridiculous fees of one time enrollement fee, annual fee, program fee and monthly fees!

I received that same offer from Premier One! After reading the small print, all the fees associated with JUST opening the card (it was something like $250 with ONLY a $300 limit to begin with!), I wasn't that desperate....I shredded it too

Everyone needs to read the fine print and ALL FEES associated with these new credit cards, some are out there just to take advantage of recently BK filers and are just not worth it!

[BassBoy]

There are plenty of other CC's that work well for post BK'ers. Some of them may have an annual fee, like $39 or $49 for example, and the rates will be closely comparable to most CC's. In cases like all of us when we need to rebuild after a credit crusher, a small fee to pay for the card is the price we may have to pay in order to rebuild. Just watch the fees, and as others have said, read the fine print.

[meateater]

About two years post bankruptcy, I responded to a pre-approved flyer I got in the mail for a Household Bank credit card with a $39 annual fee. They sent me an unsecured card with a limit of about $2,000. About 18 months later, I responded to another preapproved offer from Providian Bank. They sent me an unsecured card with a limit of about $7,000, annual fee of $29. Providian was bought by washington mutual, which was in turn taken over by Chase. Chase was a company included in my bankruptcy for around $7,000. The account is still active, with an available credit of about $13,000.

When Chase took over the account, nothing happened. But, an old defunct phone number is now showing up on my online account, so i know they have merged the old information with the account - I somewhat expect to eventually be cancelled.

I regularly get other preapproved offers in the mail, I'm about 8 years post discharge. Things may have changed, but if you wait long enough, offers will probably come to you. I'm content with these two account (I also have a macys that survived bankruptcy).

[hopefulbk]

Bk done here- closed and discharged about a month ago. I just applied for the HSBC unsecured cc and got approved for a $300 limit and a $49 annual fee. I used to have amazing credit before we filed and DH lost his job. That was then, this is now. The 300 limit is fine by me- I just want to rebuild slowly.

[Amy26]

I was able to get credit right away. My best credit line is Hooters MC at 1100 with a 17% interest rate and no annual fee. They check transunion, my score in 12/09 was 691.

I also have an HSBC Reward Zone MC with a 500 limit 39 annual fee.
Lane Bryant store card 600 limit.

I hear about people getting Capital One...but they won't touch me. I can't figure out why... I did BK them (but others have as well) and I even received a "pre approval" offer from them and they still denied me. The last time they denied me was for "outstanding debt with capital one". So, I'm assuming since I got my credit card with them about 2 months before I filed bankruptcy and then BK'd about 1,500 with them that they are permanently pissed off.

[moneytrouble]

***What is up with my credit score?***
590.
7 months after Chapter 7 with my home included. I have no debt and have been working. Why am I unable to be approved for any credit card? Why is my score so low compared to other bankruptees on here? I do have two notices of collections listed on my credit report, but those were closed the month of my Chapter 7.

[Amy26]

Have you cleaned up your credit reports? What do your accounts say? What were your scores before you filed? If you had any prior issues with charge offs & lates and things I believe those still affect your score. Anything that was there prior to you filing I believe is still a factor.

Personally, my credit was pretty clean before I filed. I did work to get a few accounts reported correctly after I was discharged though. I also had a positive car loan and student loans reporting on my records still.

Also, sometimes having accounts closed that were previously open (even if in poor standing) will hurt your score instead of helping it because you loose the history of that trade line. The ins and outs of credit scores still boggle my mind.

Like my equifax score is still 610... not much off from your 590. However, my experian is 641 and my trans union is 691... why are they so different? I really don't know. I know I have way more inqueries to my equifax than the rest...so I know that has a factor... but the scoring system is so complicated that its hard to answer your question out right.

[moneytrouble]

It is annoying that people keep getting approved for cards one here, I cannot, even with no debt and a job. I think the issue is with my home loan still showing on my credit report as Chapter 7 bankruptcy, but not closed, as they have not foreclosed yet. I have already asked the agencies to change this, but I guess it won't until the sale date of the home.

[Amy26]

Your home loans should show as IIB and closed. I had to fight for those too. They may not have foreclosed yet, but your debt is gone. You should fight with the credit bureau and the mortgage company if you have to to get it to report right.

[CCsAreEvil]

I think the issue is with my home loan still showing on my credit report as Chapter 7 bankruptcy, but not closed, as they have not foreclosed yet.

Is it still showing a balance that you owe?

[moneytrouble]

Yes. On one of the credit agencies it is. I have contacted them through their website online dispute application again. If it does not happen this time, I will contact them by mail.