How soon after case closed did you get approved for CC?

[PhillyGuy]

How soon after case closed did you get approved for a unsecured credit card? And what was your credit score?

Thanks

[JSFleischman]

The question isn't so much one of when you can get new credit, but when you can get a credit card that doesn't charge you insane rates.

You can get a Capital One or similar card with a $300 limit fairly quickly after your discharge - within 60 days or so. But the limit is low, the rates are high, and the deal is overall a bad one.

If you had a debt that survived bankruptcy (reaffirmed car loan, student loan, etc.) then paying them down post-discharge will raise your credit score markedly in a short amount of time. Work that angle if possible and you'll see new credit card offers in about 12 months.

[Pjmax]

The question isn't so much one of when you can get new credit, but when you can get a credit card that doesn't charge you insane rates.

You can get a Capital One or similar card with a $300 limit fairly quickly after your discharge - within 60 days or so. But the limit is low, the rates are high, and the deal is overall a bad one.

If you had a debt that survived bankruptcy (reaffirmed car loan, student loan, etc.) then paying them down post-discharge will raise your credit score markedly in a short amount of time. Work that angle if possible and you'll see new credit card offers in about 12 months.

I disagree about Capital One. It's a good re-building card. Interest is not great, but if you pay in full, it's not a problem. The platinum card is either $19/yr. annual fee, waived for 1 year, no interest for 12 mos. and there are offers for no annual fee at all. My initial limit was $500, two months after discharge. I recently added a Cap One rewards card, $39 annual fee. If you do apply for CapOne, make sure it's the cards for average credit (mastercards), the Capital One Visas are for excellent credit.

The cards to avoid like the plague: CreditOne, First Premier, Matrix. Crazy high fees and interest 39% last I looked, and fees are charged every month whether you use the card or not.

If you don't qualify for an unsecured, look into a secured card with Cap One, or at a credit union in your area.

[LadyInTheRed]

Interest is not great, but if you pay in full, it's not a problem.

And, after getting a fresh start from BK, you really should not be using a credit card if you can't pay it in full every month. Better to look for a card with a low or no annual fee.

[Pjmax]

And, after getting a fresh start from BK, you really should not be using a credit card if you can't pay it in full every month. Better to look for a card with a low or no annual fee.

I agree with that! Personally, I only use the cards to get my credit back in shape, and I charge things like groceries I would be paying cash for anyway, then I pay 2 or 3 times a month before the statement date, leaving a small amount to report to the CRs, then I pay in full that amount a few days after the statement and well before the due date. My scores are going up a little every month.

[Logan]

I was approved for an Orchard card the day after discharge with a $500 credit limit and a $25 annual fee. I canceled it before I had to pay the 2nd year fee since I had other cards by then.

[iswmle]

You can get a Capital One or similar card with a $300 limit fairly quickly after your discharge - within 60 days or so. But the limit is low, the rates are high, and the deal is overall a bad one.

Surely, you jest. Capital One is heads and toes above other similar cards for those rebuilding credit. Please explain, I am curious, how exactly is the deal bad? Starting off with a low limit is appropriate for someone fresh out of BK, and rates should not even be taken into consideration because the card should be PIF.

[katztoo]

We were discharged from Chapter 13 on 11/26/12. We were getting pre-approved offers from Barclay 3 times a week since then! Decided to try for it in January 2013 and got approved for a $1500 limit rewards mastercard with no yearly fee. The apr is 22.99% but we don't plan on carrying balances so we don't care. We need a card to rent a car on a vacation this spring and were so happy to get this. (last time I checked my credit score it was only 638).

[Mayo]

I got a secured CC through Merrick Bank 3 months after 13. I got the Barclay Rewards Cards 10 months post 13 Unsecured with a $1500 limit. Overall I'm happy with both cards. I have no desire to ever carry a balance again. Just something to get my credit back in shape was all I was looking for.

[iswmle]

Yeah, Barclays is good as well. They are generous with the credit line increases as long as you stay keep your debt low.

[eener]

We each got CreditOne cards 2 weeks after discharge. We were just approved for Capital One cash rewards cards for $1,000 each yesterday - we were discharged 12/19/12. DH's credit score is 678 and mine is 642.