I've been a member of DCU since December and was discharged from Ch 7 on February 16. Equifax is 589 (but after DCU app, so possibly higher before their pull). All old accounts reporting correctly in Equifax.
I applied for DCU's secured Visa on 8/6 and received letter declining application on 8/13 due to BK, credit too new to rate (must be my student loan reactivation?) and insufficient number of satisfactorily rated accounts. I called today to see if there were other options and was told that DCU is now pretty firm that no credit card applications are approved until 2 years after bankruptcy. They offered me a share loan to help rebuild, which I may take advantage of later but right now I'm looking for a card to help with car rental options.
I applied for Capital One's Secured Mastercard and was approved online. I just completed the funding process for $650. Since I did BK Cap 1, I won't count this as confirmed until the card comes in the mail, but at least I'm on my way.
The rate is not as good as DCU's secured Visa but the annual fee ($24) isn't outlandish and I intend to pay in full each month. Since most of my rentals are $300 or so, the amount of funding will keep me under 50% utilization and most months I'll only be about 10 - 15% utilization.
I did try Orchard, which seemed to approve me for a standard card after soft-pull. Since a likely low credit limit won't help me with car rentals, I didn't pursue it. Capital One offers credit increases without additional secured funding if you develop a good credit record. I don't know about long-term conversion into a non-secured card.
Just FYI - I'll update once the card arrives.
I applied for DCU's secured Visa on 8/6 and received letter declining application on 8/13 due to BK, credit too new to rate (must be my student loan reactivation?) and insufficient number of satisfactorily rated accounts. I called today to see if there were other options and was told that DCU is now pretty firm that no credit card applications are approved until 2 years after bankruptcy. They offered me a share loan to help rebuild, which I may take advantage of later but right now I'm looking for a card to help with car rental options.
I applied for Capital One's Secured Mastercard and was approved online. I just completed the funding process for $650. Since I did BK Cap 1, I won't count this as confirmed until the card comes in the mail, but at least I'm on my way.
The rate is not as good as DCU's secured Visa but the annual fee ($24) isn't outlandish and I intend to pay in full each month. Since most of my rentals are $300 or so, the amount of funding will keep me under 50% utilization and most months I'll only be about 10 - 15% utilization.
I did try Orchard, which seemed to approve me for a standard card after soft-pull. Since a likely low credit limit won't help me with car rentals, I didn't pursue it. Capital One offers credit increases without additional secured funding if you develop a good credit record. I don't know about long-term conversion into a non-secured card.
Just FYI - I'll update once the card arrives.