My 341 was Tuesday (3/23/2010). First credit card offer today (3/27/2010).

[scpineda]

I just had my 341 Meeting on Tuesday (3/23/2010) , and I received my first credit card offer today (3/27/2010). The offer is for the Orchard Bank Plantinum MasterCard at 14.9% APR. There is a one-time processing fee of $19, and an annual fee of $55. The letter states that if approve, I will receive a credit line of at least $300.

I am not jumping at the offer, but I am very surprised to receive one this soon. I am definitely considering taking out a CD and using that as collateral for a credit-rebuilding loan.

In the meantime, please share you experience with Orchard Bank.

Thank you.

[whipster1]

You will get better offers. Hold off till discharge.

[Flamingo]

Goes to show you how quickly your BK information gets around to get on all those mailing lists for all sorts of offers. Once you have filed, your information on your BK becomes public information available to anyone so your name will be available on all sorts of online mailing lists that can be purchased by anyone to send you mail for offers. Most offers you will receive are high fee/high interest offers so read all fine print. The problem with this is your name can stay out there much longer than the BK information stays on your credit reports as we are finding out...we were discharged 8/06 and to this day continue to get offers to see if we need any financial assistance past our BK discharge...stated right on the postcards or envelopes...

I obtained an Orchard Bank card right after our discharge immediately for 14.9% and a $39 annual fee on a $500 limit. I have paid it in full on time since but they have only raised the limit during that time to $1300 so since I don't need the card anymore, I will probably close it out before they put on another annual fee this fall. I called and they refuse to eliminate the fee even though I have been pristine with the card since the fall of 2006. They do not offer a card without an annual fee and since we now have a low interest, high limit Visa and MC with Chase and Citibank, I no longer need that card to assist with credit.

It will take you time, as you can see, to get better offers...they will come so don't rack up hard inquiries on your credit reports trying to obtain credit for which you have a very high percentage rate of getting denied at this point. Hard inquiries stay on your reports for 2 years and lower your score; the more you have in a given period (especially righit after a BK discharge), the worse they work against you.

[BuckeyeGuy13]

I am 1 year into a 13 and received the same offer. Since I had only an auto loan still reporting, I asked my attorney if I could get this as 'part of my "credit rebuilding." She said yes as the limit was below what my trustee requires to approve.

At any rate, the annual fee is what it is, but as far as using the card, it is what we use for gas and, once the bill comes, it gets paid. I've been doing this for 6 months now. My hope is that, as Flamingo says, with time and continued good payments, better offers will come.

[Logan]

I was discharged September 2007 and I have only received one credit card offer in the mail. Actually I received a credit card offer in the mail once a week but it was the same company so basically it was only one offer.

I had no intention of applying for the offer since I already had 2 credit cards at the time but when Chase bought WAMU I decided to apply since I had the WAMU card and I had BK'd Chase.

The funny thing is the card came with a 6.5K credit limit but has since been lowered to 1.1K and my WAMU card is still at 7k. I don't use the 1.1K card so end the end that offer did me no good at all.

Logan

[rose1]

If you want a credit card from hsbc and dont want to pay an annual fee, go for the best buy rewards mastercard. That's the only bk friendly card wothout an annual fee. Try not to apply for cards with high annual fees. Capital one also has a card with no annual fee but you may have to wait like 6 months to be approved by them.

[tanya0525]

If you want a credit card from hsbc and dont want to pay an annual fee, go for the best buy rewards mastercard. That's the only bk friendly card wothout an annual fee. Try not to apply for cards with high annual fees. Capital one also has a card with no annual fee but you may have to wait like 6 months to be approved by them.

I got the Best Buy with $300 limit and no AF.

[weneedoutnow]

I got approved for Best Buy Rewards card today. Discharge dated 3-10-10