HSBC Best Buy RZ MC approved $750 limit - 15 days after discharge

[digital]

Just an FYI as I'm another successful post-discharge (CHP7 discharged on 8/19/2010) that was able to apply and get approved for a BBY RZ MC w/ $750 limit and a Capital One platinum visa w/ a $1k limit. I applied for both today for the best chances at approval.

My fico score was 619 as of a few days after discharge and my credit history is somewhat lengthy and almost all my accounts are paid/never late and went straight to IIB on my credit report. I've also had a mortgage since 09/2010 that's been current (although it's IIB/not reporting on my credit currently).

I did not get immediate approval online from Best Buy, however I called them literally five minutes after I applied and she reviewed my application (it was marked for review) while on the phone. The Capital One was approved online.

Pretty painless process in my experience.

Thank you to everyone for the advice... now I need to determine where to get an auto loan... seeing that others have had success with capital one. I may try my credit union first.

[Flamingo]

HSBC (think Orchard Bank) and Capital One are both BK friendly. Watch the fees and percentage rates and remember, the more credit you apply for too soon the worse it will be for you - a bunch of hard inquiries so shortly after discharge will line you up for a string of denials...those hard inquiries stay on your credit reports now for 2 years.

[digital]

I am aware of that which is why this is it for a while. As tempted as I am to do some kind of app-o-rama I today I know that would hurt me severely and not be worth it for a few more low limit/crap rate cards.

Thanks for looking out though, as you're right, the consequences would be horrible.

[venus82]

On Friday I used the link in the OP to apply for Best Buy Rewards credit card. Only 42 days since my Chap 7 discharge and with a FICO of 689 I was approved for $1,500 limit, 22.95 APR (not a factor as I will not be carrying a balance) and no AF. I was stunned considering I had a CC with HSBC that was included in my petition. Not sure if I should wait before applying for the Hooters card - any ideas?

Many thanks to the original poster!!

[2004ep3hatch]

How in the world did you get approved? I actually tried chase and they told me i have to wait a few years. I do have a capital one card but it's only a 300$ limit. Did i miss somthing.

[pris72]

I can't remember if it was chase or citi bank that I tried, and one of the 1st things you have to check on is that you have not declared bankruptcy. After seeing that I did not even bother with the application, because that told me they are not BK friendly. I could be wrong, but I didn't apply due to seeing that at the top of the application.

[nc73]

people thank the lord that you didn't get approved. we all say we won't have a balance on it but eventually it gets out of hand and that 22% won't seem so enticing any more. Never felt so good using just cash. No debts to worry about.

[venus82]

How in the world did you get approved? I actually tried chase and they told me i have to wait a few years. I do have a capital one card but it's only a 300$ limit. Did i miss somthing.

I think you are missing the point of this thread - the Best Buy Rewards Zone credit card appears to be bankruptcy "friendly". Having been discharged doesn't prevent you from getting this credit card.

[wnguyen]

HSBC (think Orchard Bank) and Capital One are both BK friendly. Watch the fees and percentage rates and remember, the more credit you apply for too soon the worse it will be for you - a bunch of hard inquiries so shortly after discharge will line you up for a string of denials...those hard inquiries stay on your credit reports now for 2 years.

I had $3K with Capital One and $10K with HSBC thru BestBuy in my bk. I don't think I'll dare to come back and apply again.

[LSUTiger32]

people thank the lord that you didn't get approved. we all say we won't have a balance on it but eventually it gets out of hand and that 22% won't seem so enticing any more. Never felt so good using just cash. No debts to worry about.

Trust me when I tell you that it's a hopeless cause.

[backtoschool]

I had $3K with Capital One and $10K with HSBC thru BestBuy in my bk. I don't think I'll dare to come back and apply again.

Capital One has been known to approve those that bk'ed them. It sometimes takes several attempts though. Do a search on Capital One and you will see that some got approved post bk, even having bk'ed Capital One.

[LaurieM]

Just a little FYI people... Best Buy, Value City Furniture, ABC Warehouse, Dell Computer, and just about any jewelry store credit card are technically SECURED credit cards - meaning you are giving them permission to hold the goods you purchase as collateral until you've paid them off.

[FLPrincess]

Thanks for the tip, I applied for this and was approved, but there is a $59 annual fee.

[CCsAreEvil]

...there is a $59 annual fee.

*shudder* That's the reason why these lenders are willing to give us credit right away. It's the business model of these types of cards, for us "losers" :P

[FLPrincess]

Yeah I'm not thrilled about that, but I need to start somewhere. It's the cost of my past money mistakes, I have less choices.