Credit Card question....again

[PhillyGuy]

Sorry if this sounds like the same question....

Filed BK (Nov 2012) due to bad investments (properties), not CC, car payments or primary house mortgage debt. Reaffirming my home and car. Credit score currently at 686.

I was discharged (Mid-Feb 2013), currently awaiting for distribution of assets to creditors. Can I apply for a new CC while waiting for my case to close? I have had the same job for 12+ years, make a good dime and have always paid my bills on time. The car and house will not be converted back to a 'normal' account until after the case is closed, but both accounts have been current and my credit report shows that as well, along with one store card (Macys) I still have.

Do I apply or wait?

Thanks

[frogger]

What's the rush?

[Logan]

I say apply.

[PhillyGuy]

I do alot of travel for work and dont want to get in a bind.

[justbroke]

I traveled for work and throughout my Chapter 13 and my Chapter 7, I used a debit card (PayPal in fact), for my travel. Yes, I was carrying $2K-$4K every month but it was nice. I now have a credit card which I use for this travel. So long as you will use this card only for work, it should be fine. I would not, however, expect to receive any significant credit limit.

[msm859]

I do alot of travel for work and dont want to get in a bind.

Get a secured B of A credit card -- can get it in the rewards card and you choose the limit by the amount of your deposit. After a year you should be able to get it unsecured and then do a product change to their American Express rewards card. A high limit will also help you get other cards with high limits.

[katztoo]

Barclay is BK friendly. It has 2% cashback on groceries, utilities & gas and 1% cash back on other purchases. We got approved 2 months after discharge for unsecured $1500 limit and increase review after 6 mos.

[msm859]

Barclay is BK friendly. It has 2% cashback on groceries, utilities & gas and 1% cash back on other purchases. We got approved 2 months after discharge for unsecured $1500 limit and increase review after 6 mos.

Agreed. 1 1/2 years after filing applied for Barclays and approved initial $4500 after 6 months they increased to $5700 limit. At time had 2 secured cards $5k and $3k.

[ValleYum]

Adding to the nice about Barclays - we have used it put the cash back awards back against the balance and are consitently impressed with their customer service and their reviews for credit line increases (nice to have in the event of an emergency plane ticket).

[Pjmax]

I've also heard Barclay's is BK friendly. I've also heard they're most friendly if you are 6 mos. out of BK, didn't BK them (they'll take you back sooner than most,) and they don't like a lot of recent apps for credit and inquiries.

YMMV, of course. Just in case you app and are denied, you'll know it's not just you. Wait a few months and try again.

[stray]

I'm 6 mos discharged, tried Barclay's but didn't get it. I applied for the Frontier Airlines one. I used a site that rated which CCs were more difficult to get and which were easier. It seemed that this one would be one of the easier ones from Barclay's to get. Maybe one of the other Barclay's CC would have been better to apply for, I'm not sure. I had one hard inquiry from 1 1/2 yrs ago and no debt. My score is lower than yours, and I think that was the problem.

[2manybills]

Capital One was very friendly to us. Also, our credit union gave us a $5,000 line of credit. American Express will not give you a card if you BK'd on them.

[msm859]

Capital One was very friendly to us. Also, our credit union gave us a $5,000 line of credit. American Express will not give you a card if you BK'd on them.

Capital One was easy to get a card but it apparently is hard to grow with them. Last month Barclays just gave me a CLI of $3k now up to $8700 with their rewards card. A few months back I converted my BofA secured to unsecured and changed it to their American Express card that I can now use at Costco.

[katztoo]

Barclay is BK friendly. It has 2% cashback on groceries, utilities & gas and 1% cash back on other purchases. We got approved 2 months after discharge for unsecured $1500 limit and increase review after 6 mos.

Follow up on my original post: After 6 months Barclay increased our credit line to $2,800 automatically.

[PhillyGuy]

Thanks for all the info.

Ran all my reports two weeks ago, 669 to 710 credit scores.

Have a little house cleaning to do which should help my scores since my mortgage company didn’t update my reports showing reaffirmed mortgage and all my on time payments through-out the BK7 process. I followed up with the lender and they already reported the change to all three credit bureaus. So I will wait a few more weeks and re-run my reports and see if there is a change in my scores.

If everything is good with my reports, I will apply for a CapOne card and let you know how it goes.