Still waiting for discharge and already got a CC offer

[budgetgal]

My 60 days was up on Oct. 7th, so I'm awaiting discharge. I'm not on PACER, so just waiting for snail mail, but got a CC offer in the mail today. I got a bunch of buy a car offers right after I filed, but things then got quiet. I'm assuming these first offers are not the ones to consider? I was thinking I'd probably wait at least 6 months after discharge and then try to shop around for a secured card. This one looks to be unsecured, 19.9 interest but a $59 annual fee. It is HSBC bank. Looks like a $300 limit. Just wanted to get your thoughts, I'm in no rush to get another card, that is for sure, but do want to think about smart credit rebuilding options.

[mountanddo]

I received a credit card offer the other day and I haven't paid my credit cards in over a year. I haven't even filed yet. It said I was pre-approved. I'm pretty sure if I applied I would be denied.

The card you received sounds horrible. 19.9% interest with an annual fee and only a $300 credit line. I would rather start rebuilding my credit with a secured card rather than this one. I would wait for a better offer. I've never had a credit card with an annual fee even after BK.

[budgetgal]

That was my thinking. I'd rather put up money for a secured card with better terms. I've never had an annual fee card either. Although my interest rates had creeped up into that 19 - 26% range even though I had never missed a payment. That was the beginning of the end because it pushed the minimum payments to a range I couldn't even cover. Thanks for the response.

[mountanddo]

If that were me and I had that card I might be tempted to use it if there was an emergency. I'm safer without those cards in my possesion at all! Since I don't think I'm allowed to get a credit card until my C-13 is up I plan on getting a pre-paid visa card and putting money each pay period on it. It won't build any credit but it is safer there (from myself) than it would be in a savings account. Not sure if that's a good idea or not but that's my plan.

[budgetgal]

I've already been buying visa gift cards at my bank for online shopping, etc. I know I could use my visa/debit card for that, but I figure, these gift cards at least aren't linked to my checking account should there be fraudulent activity. They have worked great. It is a $3.95 charge to activate, but that isn't too bad. You just have to register the card online with whichever bank you buy it from so you have an address and zip code on file that the online merchant can match the info. up with to make sure you are the authorized card user. It is great for keeping me on budget too. I really think about every little thing I buy now and appreciate it all so much more.

[jetsfan2010]

take your time. better offers will come. I will be looking to go the secured route, likely through cap 1.

[pathfinders]

Just got aapproved Barkleys $1,000 17.5 APR of course just use it 1 time per month for gas and pay on line in full as soon as it posts to the account No anual fee. also have NFCU, Hooters, and a cap one, .. additional cap one for business, never carry a balance period. an NO CC debit did not cause our chapetr 7. mY wife has her own same cards in her name. Just uilding our Credit history so when we want to buy if we do in a few years we are established and more doors will be open

[mountanddo]

Just got aapproved Barkleys $1,000 17.5 APR of course just use it 1 time per month for gas and pay on line in full as soon as it posts to the account No anual fee. also have NFCU, Hooters, and a cap one, .. additional cap one for business, never carry a balance period. an NO CC debit did not cause our chapetr 7. mY wife has her own same cards in her name. Just uilding our Credit history so when we want to buy if we do in a few years we are established and more doors will be open

I had no idea Hooters issued credit cards ;)

[ValleYum]

Cap 1 gave hubby a 2k card with 0% for the first year and $35 annual fee - and has already increased his credit line at 6 months out. I think the interest after the year was like 12-15%.

I think annual fees are back for most credit cards (as will be charges for debit card usage and checking accounts) since the banks aren't getting all their money from mortgages.

We charged a couple of items (like $75 or so) and paid them in 2 payments so it would show some use of the card but pretty much haven't charged anything of any significance.

[feelingnutsy]

Hi---Pathfinders---so Barclay's seems to be BK-friendly?

[pathfinders]

they seem to be, Got a preapoval letter in the mail been 14 months since discharge, cap one 1 moth out hooters 2 months out HFCU 8 months out business cap one 12 months out and Barkleys 14 months out. Average Fico 699. going to get a secure CD loan from our back in a few weeks where you put 1k in a CD for 12,24 months and they loan you 1K. it shows up as an Intalment loan. it will be 6% so for 2 years the loan will cost me 120 dollars or about 5 dollars per month, of course if you buy a home or car in a few years if you want to , you may save hundreds per moth or thousands of the purchase as far as interest. Hope that helps, I would say cap one abd hootters are very friendley as well as best buy barkleys, NFCU is very friendly if you can get in, got a very crazy line of credit North of $10,000 unsecured credit line, 13.5 APR no anaul fee, again to anyone reading this CC debit had nothing to do with our chapter 7. we use our cap one a lot and just pay it off every couple of days, we get reward cash we have about $450 dollars coming from cap one in the form of gift cards from Walmart and best buy. for christmas, use the CC wisley respect them and use them to your advantage they are a tool to to leverage our choices in your finanical life. It gets better as time goes on, Oh we got our Mortage holder to take a DIL of your surendered home HOA was on us all the time and we had no Insurance on the home, was worried that some squatter would break in and get hurt and sue US. renting a very nice home for about 600 dollars less that what we were paying, Fore give the spelling

[budgetgal]

I appreciate the replies. I'm going to sit tight for a while. I still have to get the discharge anyway! Hopefully that will come in the next couple of weeks!