How long to wait post discharge date to apply for a credit card?

[ccmisery]

Let me first say, I do not want a credit card, they got me into trouble and were the sole reason I had to file, but my job requires me to travel and I have to put rental cars and some other charges on a credit card. I have a Debit Card but the rental car company they use is not Debit Card/Bad Credit friendly. So I am looking at getting a credit card soon. Thought about secured, might be my only option but I read that some people are getting unsecured soon after discharge.

How long should you wait before applying? Is there a right time?

[Pjmax]

You can try Capital One, just make sure it is one for average credit, not excellent credit. I was approved 1 1/2 mos. from discharge, I've heard of some getting approval within days. I guess it depends on what shape your credit report is in, and income.

[ccmisery]

What if Capital One was one of my creditors? Isn't there a black list? I read on here that Barclays is friendly.

[justbroke]

You could also try Barclay's Bank.

[angel7821]

I filed BK on 2 Cap One cards and 5 weeks after my 13 discharge I applied with Cap One for 2 different cards and got approved for both of them. I also applied for a Barclays Reward card and got approved for that one as well.

[LexFour]

My 5 year Ch 13 was discharged a month ago. I applied the same week that I got my discharge papers. Needed a credit card for business travel (car rentals) since using a debit card has so many hurdles. Capital One gave me a $500 limit with a 5 month credit increase, but Navy Federal CU gave me a $3,000 limit. 17% APR. USAA approved me for a secured card.

I am also being required to apply for a company credit card through my employer. Just sent the app to the administrator, not sure how that will go but hopefully I won't have to explain to my employer why I was declined if that is the case. They do not know about my Ch 13.

[justbroke]

Since you just applied for several cards recently, you can say that it was probably caused by your recent application for a couple of cards.

[ccmisery]

I thought that most rental car companies with the exception of alamo and national pull your credit report with a debit card and also many add a hold fee on top of your rental estimate. I often do not have much money on my debit card, been struggling financially since taking a serious pay cut in my latest job. Thought it would get easier but I took on new debt in the form of a car payment.

I will try Barclays and Cap One, but I probably should wait till my Discharge papers arrive I guess?

Thanks for the link.

[ScoobaSteve]

I only waited a couple days after I got my discharge letter in the mail. I applied for both Cap One and Barclays on their websites. Barclays said they needed to do further research and would email me in 7-10 days. Cap One approved me for a $500 limit, no annual fee, and 0% interest until May 2014.

[justbroke]

I can attest that the PayPal Business Debit Mastercard is awesome. I survived my Chapter 13, and about 12 months post my Chapter 7 discharge, on that card! It worked at Hertz like no other! I used it for hotels and other travel needs as well (including airline tickets). PayPal was a lifesaver.

[ccmisery]

I have two debit cards from two different banks, one is Mastercard the other is Visa, not sure how they would be any different from PayPal? Also using debit I would need to have cash in my account, which would require a cash advance for trips from my employer, something I may have to request if I cannot get a cc.

[pinkpeanut01]

What if Capital One was one of my creditors? Isn't there a black list? I read on here that Barclays is friendly.

I waited almost a year because I was terrified of credit cards and afraid of rejection. I got approved for Cap1 and Barclays about a year out. Dell Financial never closed my account despite my BK (I didn't have a balance with them at the time), so they kept me open with a $5K limit. My husband got approved for Barclays 5 months out from discharge. Cap1 rejected him on a car loan and a CC, and one of the reasons listed on the paperwork you get after a denial was something like "recent default on Cap 1 account," or something to that effect. They are the only creditor who sued him fwiw, over a $2,000 balance. Maybe that's why?

[ksgirl38]

I applied for a Capitol One card 2 weeks after discharge and was able to get a $3000 limit. I didn't have any Capitol One cards included in my BK, but had one with them years before that I had voluntarily closed out.

[IBroke]

I can attest that the PayPal Business Debit Mastercard is awesome.

Same here! I like to call it my "microcosmic" credit-card because - although it's linked to my checking-account - charges are debited two days after you used the credit-feature. The cash-back as another fine bonus.

[RichM]

Ditto on the PayPal business debit card. It's excellent.

As for credit cards, I suggest you call First Tech FCU and ask about their secured card, or visit any credit union you're eligible for and do the same. Many credit unions will work with you on establishing a secured credit card account, even if they don't "officially" offer one. If you're a veteran, try USAA. They have a variety of secured cards (as well as outstanding rates on auto insurance for vets).

-Richard