When to apply for first CC?

[basketsbears]

Hi,

Hopefully we will be discharged this month, but will probably close after we file our taxes in 2013.

I don't even know if we want to apply for any credit cards, or auto loans, but if we do, can we try after discharge - or do we wait until after we close? I realize the longer we wait, the better we will be, but thought I would ask these questions while I was thinking of it.

Thanks!

Lynn

[tobee43]

lynn we waited actually almost 2 years. but i know many have applied successfully a few months after their discharge. offers will start coming to you.

i was very reluctant to get any cards, although, CC's never were a big part of why we did a bk. however, after giving this some thought we realize that we may need a car at some point and we need to begin to repair our credit.

best buy was good, i think orchard was the first but they had fees, and then cap one and barclays. we only have two now just "in case" and every few months i use them to keep them active.

be patient the offers will start hitting you soon, but most likely AFTER you bk is completed.

[basketsbears]

lynn we waited actually almost 2 years. but i know many have applied successfully a few months after their discharge. offers will start coming to you.

i was very reluctant to get any cards, although, CC's never were a big part of why we did a bk. however, after giving this some thought we realize that we may need a car at some point and we need to begin to repair our credit.

best buy was good, i think orchard was the first but they had fees, and then cap one and barclays. we only have two now just "in case" and every few months i use them to keep them active.

be patient the offers will start hitting you soon, but most likely AFTER you bk is completed.

thanks so much for the advice! I just want to make sure that we do everything right with our "new start".

[tobee43]

thanks so much for the advice! I just want to make sure that we do everything right with our "new start".

u r very welcome. believe me, as soon as you bk is over you will be getting tons of offers.

[ace300s]

u r very welcome. believe me, as soon as you bk is over you will be getting tons of offers.

My wife and I have been discharged three months now. We have not gotten one single offer.........

We made sure our credit reports were cleaned up and everyone is accurate. We discharged a lot of credit cards in our BK7. None of our accounts were reported late at the time of BK7 filing.

BTW, I know this is not a true credit score, but our Credit Karma shows our score at 642. Not sure why some get all kinds of offers and we get nothing.

[tobee43]

My wife and I have been discharged three months now. We have not gotten one single offer.........

We made sure our credit reports were cleaned up and everyone is accurate. We discharged a lot of credit cards in our BK7. None of our accounts were reported late at the time of BK7 filing.

BTW, I know this is not a true credit score, but our Credit Karma shows our score at 642. Not sure why some get all kinds of offers and we get nothing.

really? we starting getting them almost immediately. they will start coming. have you applied for any?

[ace300s]

really? we starting getting them almost immediately. they will start coming. have you applied for any?

Yes, I applied for a Capital One and they denied me, at the same time Capital suggested we apply for their secured card. We did and they denied that! We did have two Capital cards discharged in our BK7.

It is interesting that some people get offers immediately and other nothing.......

[basketsbears]

That is one reason why I have asked. It seems strange the way some people get lots of offers, etc. and some get none.

We have had some random offers of credit cards and auto loans since filing, but not very many.

We BK quite a few small Cap One cards, so don't know if I would even try for those or not.

Thanks!

Lynn

[tobee43]

i do know this...because i paid all the way up until the time we were forcced to stop paying and filed, even when filed our FICO scores were not terrible up in the high 600's. we got a copy of our credit report and there were no late payments reported other than our mortgage and the car we voluntarily surrendered. actually the car didn't even have a late payment since we never late with the payment. we also had a cap one or two on our petition.

i don't know if that anything to do with the offers we rec'd or not. but be patient i'm sure they will start popping up,

[Amy26]

I never got any offers ... except for some really bad car loan advertisments... hell I still don't get offers and my Equifax report doesn't even have my BK on it and my score is 785. You will be able to obtain credit, you just need to know where to look for it. You may not get offers, but if you go to the right places that are BK friendly then you shouldn't have any problem. Offers will also vary if you are "opt'd in" or "opt'd out".

I also recommend cleaning up your credit report as much as possible before you start applying and knowing what is on each report and which bureau the company you apply at pulls.
If you would like a good resource for BK friendly creditors, send me a PM and I'll point you in the right direction.

[ksgirl38]

I'm getting the same offers as before I filed. It's as if the credit card companies haven't caught on. I'm just wondering if I should try actually filing out the application on one of these to see what happens.

[pinkpeanut01]

I haven't gotten any CC offers (lots of car loan offers), but I had myself on a "no marketing" list or something before my BK... something you add to your credit report to NOT get tons of CC offers. So maybe that is why. I kind of wish I had one, just in case. But "just in case" got me into trouble before, so maybe I am better off. I did get a car loan already to start rebuilding my credit, which made me nervous as all heck, so again, I'm better off without a CC! Anyway, good luck, OP. I hope you find something.

[soccerguy]

Hi,

Hopefully we will be discharged this month, but will probably close after we file our taxes in 2013.

I don't even know if we want to apply for any credit cards, or auto loans, but if we do, can we try after discharge - or do we wait until after we close? I realize the longer we wait, the better we will be, but thought I would ask these questions while I was thinking of it.

Thanks!

Lynn

50 years from today

[ksgirl38]

u r very welcome. believe me, as soon as you bk is over you will be getting tons of offers.

You know the only offers I've gotten have been from car dealerships trying to sell me cars.

[basketsbears]

Thanks for all the advice. We are not going to apply for any CC, they just make me nervous. We reaffirmed our Jeep, and when I finish school in May and start working more hope to have it paid off in a few months (or may use cash and purchase a different vehicle so I can haul all my grandkids!).

It is odd tho-it seems like my husband will get CC offers in the mail, and I seem to get the auto loan offers!

Thanks again for all the great advice!