When to apply for first CC?

[Logan]

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

I applied 1 day out of BK for an Orchard card. Approved for $500 with a @29 annual fee. My next card a few months later (maybe 6) I applied for a CapOne and approved for 3K. I cancelled the Orchard before the next annual fee then applied for another.
The key is to have a realistic plan and implement it. I went for the easiest card first not knowing if I'd be approved or not. I was approved for every card that considered people with BK's and I was denied by a few for not doing the research.

Good luck.

[basketsbears]

I applied 1 day out of BK for an Orchard card. Approved for $500 with a @29 annual fee. My next card a few months later (maybe 6) I applied for a CapOne and approved for 3K. I cancelled the Orchard before the next annual fee then applied for another.
The key is to have a realistic plan and implement it. I went for the easiest card first not knowing if I'd be approved or not. I was approved for every card that considered people with BK's and I was denied by a few for not doing the research.

Good luck.

Thank you!

[poorpoorpoor]

All very interesting responses. I'm wondering if any of you have tried to apply for a card through your regular bank - provided your BK did not have any impact on them? I have a good standing relationship with my bank (checking only); the account is over 5 years old and I've never bounced a check or had anything negative with it. Wonder if they would be more likely to extend credit to me - auto loan or LOC - since I haven't had anything negative with them.

[Amy26]

Depends if it is a BK friendly bank... I am a super Credit Union girl now that I'm a BKer. I will never go back to regular banks... most of the "main stream" banks are not bankruptcy friendly. Navy Federal Credit Union is my main bank and I have lots of credit products with them.

[msm859]

I agree with Amy26 that credit unions are probably your best bet, but I did also try with BofA and Wells Fargo. I did receive a secured card from BofA and will see if they make it unsecure in a few months - they were are a part of my BK. Wells Fargo would not even though they were Not a part of my BK but I had modified a home loan with them which apparently is a big inhouse black flag.

[obwnlink]

I'm wondering if any of you have tried to apply for a card through your regular bank - provided your BK did not have any impact on them?

Prior to filing BK, I had accounts with BofA and Wells Fargo. Once I filed, BofA closed all my accounts. Wells Fargo did nothing. A year out of BK, I applied and was accepted for a secured credit card with Wells Fargo.