When can I apply for a new credit card?

[NY1]

When can I apply for a new credit card? Can i apply after I am discharged or do I have to wait until my case is closed?

[CCsAreEvil]

After discharge is fine. Heck, some people apply even before discharge, but I would not recommend that.

Which card(s) do you plan to apply for?

[NY1]

i was thinking either capital one or orchard.

[BobMango]

I applied after the trustee's report of no distribution and before discharge. No problem, did not affect discharge or closing dates. In a Chapter 7 there is no regulation that says you can't apply for new credit. A Chapter 13 is a different matter.

[jonathan]

Honestly, I'm an amateur, so heed my advice with caution, but I would say definitely after. I would assume that during would lead to high interest rates and annual fees.

One month after my BK i got a credit card (Hooters) with an $1100 limit with no annual fee + 16% APR. Not anywhere near what I had before, but I am able to build. You need to remember, you're a sub-prime lendee until you prove otherwise. You're going to get a lot of offers, but very few will be on favorable terms. Be patient and build from there.

[BobMango]

It really is a crap shoot. I applied for HSBC, before discharge. Rate is 14%, limit $500 and annual fee is $39. I use it just for gas purchases and pay it off each month. Going in months three now.

My credit was all over the place. I had a $90K charge off on a HELOC for some rental property, a number of 120 day lates on credit cards, but was currrent on my mortgage and car payments. On the positive side I had a number of car loans and previous mortgages that were paid off and reporting positive before filing.