Applying for 2nd credit card?

[ssc2761]

I have one card since BK discharge, which was 7/7/10. It is a Cap One with $2000 limit and no annual fee, although interest rate is high, but I pay in full each month. It has been over 4mo's since that card was approved. I though I would now apply for a second card to keep rebuilding my credit. I applied for a Hooters MC yesterday and was told to wait 7-10 days for a response. The Hooters people called me today and said I was approved for a $300 line, but said the rep said she didn't know what if any the annual fee would be. I told her that if you cannot tell me that I want to withdraw the application before the credit line or card was even created. She said ok, it would only affect me as a hard inquiry, but since the card was never sent out, that it would never show up on my credit report. Now I know I can't be picky with these cards, but I just didn't want some $48 annual fee, with only a $300 card. My cap one is good enough for now, so I think I will just wait. Anyone have any suggestions on whether I did the right thing, or if I should apply maybe for either a different card (which ones) at this point or a second Cap 1 card, or just wait. One caveat, I do already have a home that survived BK and was not reaffirmed. I am paying on it timely, no payments missed. So I don't need to rapidly rebuild credit for any reason besides possible refi down the road or if I start making more money to get a rental. Any feedback is greatly appreciated!! . Thanks all!!!

[discombob1]

My suggestion is wait it out. I've been asking these same questions and general wisdom is that somewhere between a year to two years post-discharge you will start getting prime offers. Another subprime card won't help you that much and will charge you high fees.

[HHM]

If you have 1 CC now, just wait, Use it (that is charge $50 and pay it off each month) and wait for "offers" to come to you. As was mentioned, if you reestablish some credit usage and make sure you Credit Report is accurate, you should start getting prime offers in about 12 months or so.

[ssc2761]

Sounds good, thanks for all the advice everyone. I will wait until 7/7/11 and beyond, to see if I get any offers, since this date will be 1 yr from d/c.