Cap One or Orchard

[Chapter7girl]

Hi everyone. I'm new here. Have been reading back posts for about an hour and you guys seem to be doing your research like me on all this bankruptcy stuff. My mom filed Chapter 7 and it was discharged Oct. 2004 I believe. I'm trying to get her back on track so she can one day buy a house. She has a decent income of about $70,000 and no debt. She was basically in a bad marriage with my dad who also has bad credit but he doesn't really care either way.

I'm trying to get her a credit card but don't want to see more than one bad inquiry on her report. She plans on paying the balance every month. The sucky thing is, I've had a credit card since I was 18 (I'm 25 and will FINALLY graduate with my MBA in December) and also have student loans that through all her debts and bankruptcy she always paid on time. So I have good credit thanks to her yet she reaps none of the benefits.

So that's the background. Anyway, which unsecured credit card do you all think is best? I'm looking at Orchard and Capital One, but am also curious if there are any other bk friendly ones out there? I keep reading that Orchard reports to the 3 credit bureaus. Does Cap One also do this? I've heard Cap One isn't a good card but have never really heard exactly why.

Sorry for the long post. What do you guys suggest? She has paid rent and bills including medical bills on time for the past 3 years or so. Does this count positively toward credit? One more thing, I checked her free credit reports, not FICO I assume, and her score was around 630. Thanks so much everyone for listening.

[down&out]

I would reccomend Capital One, Juniper's Racetrack card, and Merrik Bank Hooters card. All ar BK friendly.

Also - advise her to wait at least 4-6 months after BK before getting a card. If she does Capital one will mail her a no-annual fee card offer. Then take that and wait a while. Then aply for the others.

[Chapter7girl]

Yes, she has been discharged for about 2 years now. So you would go for Capital One rather than Orchard? I'm still curious as to why some people don't like Capital One.

[jaura6588]

Where do I apply for a Juniper's Racetrack card? Post a link please.

Chapter7girl, IMO it doest really matter which card you apply for since you will get a high interest rate with a high annual fee, and a low card limit for either card because of the BK and low credit score. The only reason you should be applying for any card right now is JUST to reestablish your credit.

Now if there was no BK, a good credit score, etc. then I would really shop for the best card with the best apr, limit, etc. Ex. American Express. For now, I would go with either one. I just applied for the Orchard card. I might apply for the Capital one as well because maybe in the future I might want to apply for a car loan through them, and I want to show good history with them. Hope this helps.

[down&out]

Chapter7girl, IMO it doest really matter which card you apply for since you will get a high interest rate with a high annual fee, and a low card limit for either card because of the BK and low credit score. The only reason you should be applying for any card right now is JUST to reestablish your credit.

I respecfully disagree. It does matter who you apply with and you will not automatically get an annual fee. I went BK a year ago and I have never accepted a CC with an annual fee. Cap One will eventually send you the no-fee card.

[Chapter7girl]

We haven't been offered any type of card from Capital One or anywhere for that matter in the mail. I just applied for the $19 fee one tonight so I guess I'll see if we are approved but I'm not getting my hopes up.