Which credit cards are recommended and how many should I get to rebuild my credit?

[rose1]

Okay, I just got discharged on 7/09. I'm now looking to rebuild my credit. I was told that in order to get my score up asap, I'd need at least 3 credit cards showing on my report with a good payment history. So far, I applied for a boat load of cards but was only able to get approved for an Aventium MC which is through First Premier. Their fees weren't terrible.... $75 annual fee and that's it. also, they charge 59.9% interest but they do have a 25 day grace period and I don't plan on ever carrying a balance. I got denied for Orchard, Hooters, and Capital one. My score was 505 prior to the filing and after the discharge, it's now 595. I even tried to get a secured Orchard card but was denied due to what's on my Chexsystems report. Should I just stick with the one card I do have and apply for more 6 months later? Anyone know what other cards will approve someone with a 595 credit score? I heard Aspire one but they no longer exist for some reason. It seems the only options are First premier and orchard.

[jennordhavn]

You could try Kay's and Jared (jewelry stores).

[jadams]

A clean Chex report is much more important than fixing your credit score at this point. Issues with Chex will cause you to be denied a bank account. With a bad credit score but a clean Chex report, at least you could get a checking account and debit card to use with no fees.

What's on your Chex report? Did you list the banks reporting on your Chex in your bankruptcy?

If so, you may be able to get your Chex report cleaned.

Many people have had success sending Chex a letter pointing out the bankruptcy, the difficulty of opening a new bank account, wanting a fresh start, etc. and including a copy of the discharge and the list of creditors showing the debts to the reported banks were included.

For whatever reason, Chex will sometimes delete all the bad info from your file after receiving this letter.

[wantout]

$75 annual fee and that's it. also, they charge 59.9% interest

I dont care what card or how long the grace period is, the above is insane, insane, run, do not walk, run away as fast as you can..

Fees and interest like that will kill you...

[rose1]

I dont care what card or how long the grace period is, the above is insane, insane, run, do not walk, run away as fast as you can..

Fees and interest like that will kill you...

I agree but at the same time, I do want to have a positive credit history.

[rose1]

A clean Chex report is much more important than fixing your credit score at this point. Issues with Chex will cause you to be denied a bank account. With a bad credit score but a clean Chex report, at least you could get a checking account and debit card to use with no fees.

What's on your Chex report? Did you list the banks reporting on your Chex in your bankruptcy?

If so, you may be able to get your Chex report cleaned.

Many people have had success sending Chex a letter pointing out the bankruptcy, the difficulty of opening a new bank account, wanting a fresh start, etc. and including a copy of the discharge and the list of creditors showing the debts to the reported banks were included.

For whatever reason, Chex will sometimes delete all the bad info from your file after receiving this letter.

I took the first step in ordering my chex report. I'll see what's on it and go from there. Thanks

[rose1]

Just ordered my FICO score at myfico.com and surprisingly, my score was 640 as of today (2/4/2010) I find this hard to believe. Is that score accurate? It was based on my equifax report. I got my Trans union score last week and it was 595 through freecreditreport.com With a credit score of 640, why would I get denied for hooters m/c, orchard bank etc? Do CC companies have access to chexsystems? The last explanation as to why I got denied was due to "Limited credit history"

[CCCrazy]

This must be a chexsystem problem, because I was approved for Credit One and Orchard with a $250 and $750 credit limit right out of BK with a credit score of 491.

[mikemike]

same here i have a score of 564 and got denied twice by capone and hooters..i just applied for a secured card from citibank..lets see how that goes..but im not geting approved neither