Recent discharge - Applied for Cap One Quicksilver only $300

[Mayo]

I got the barclay's card 1 year post discharge with a 1500 limit. I didn't bk though. I started with a merrick secured card 4 months post discharge. I'd recommend baby steps and not trying to reload the portfolio all at once.

[basketsbears]

Hi,

We have been discharged for about 1 year this month (boy how time flies!). Anyway - we have not applied for any credit. I will be having huge student loans coming out of "grace" next month, so am planning on using those to build credit.

Are we wrong not to get credit card???

Thanks!

Lynn

[anderson238]

Hi all! I got a secured card 6 months after discharge for 1k, 3 months later got the Barclay card 1300 limit. Hubby waited a year and 3 months and got a Barclay card 2k limit, our scores hover around 685.
If you feel you need a cc so badly, get a secured card, if you can't come up with cash,I would suggest waiting, don't rush it, and try not to stress out about it!

[ellis2156]

Feel lucky. I can't get anything at all. I get email offers from Premier but does anyone know if they are good for restarting credit?

[Pjmax]

Feel lucky. I can't get anything at all. I get email offers from Premier but does anyone know if they are good for restarting credit?

I would avoid First Premier and any other card that starts with a $300 limit, charges $75 initial fee, monthly charges, super high interest, etc. Read the terms before signing up. You would be better off with a secured card.

[IBroke]

I would avoid First Premier and any other card that starts with a $300 limit, charges $75 initial fee, monthly charges, super high interest, etc. Read the terms before signing up. You would be better off with a secured card.

First Premier are almost criminal. If the $75 would actually be the fee, it wouldn't be that bad. However, the offers I received from them had so many (initial and annual) fees that from the $300 CL, only $75 were left for spending - and all with a nice 30% APR.

When I get an offer from First Premier, I know it will be a job for my file shredder...

[dgifta]

I was discharged in Jan 2013. I immediately started receiving offers from Cap 1. I received a $500 credit limit within a month of discharge, which was increased to $2500 within a few months.

I also received cards from Barclays and Merrick. My total credit available is about $4700, 8 months after discharge.

As others have stated, I do not us my cards, I pay cash now. I almost have an aversion to using credit. I have only used my card for essential dental work.

I have learned my lesson regarding living within my means. I don't eat out, or buy unnecessary items. I have more disposable income now than in years. I have actually saved $8000 since my discharge. I make ends meet now. I will never go back to my former way of life. I think of myself a someone who had an addiction, and is now in recovery.

[Logan]

I was discharged in Jan 2013. I immediately started receiving offers from Cap 1. I received a $500 credit limit within a month of discharge, which was increased to $2500 within a few months.

I also received cards from Barclays and Merrick. My total credit available is about $4700, 8 months after discharge.

As others have stated, I do not us my cards, I pay cash now. I almost have an aversion to using credit. I have only used my card for essential dental work.

I have learned my lesson regarding living within my means. I don't eat out, or buy unnecessary items. I have more disposable income now than in years. I have actually saved $8000 since my discharge. I make ends meet now. I will never go back to my former way of life. I think of myself a someone who had an addiction, and is now in recovery.

Just remember that credit cards do close accounts due to inactivity so if you want to keep these accounts open I would charge something on them every so often.
Maybe pay an automatic bill every month on each credit card. Cell phone for one, cable for another, and car insurance for the 3rd.
Then go into Bill Pay on your checking account and have an automatic payment set up for each credit card setup prior to each due date. Make sure the bill payment notifies you the bill is about to be paid so you can remember to review the payment to make sure you're paying the bill in full.
Logan

[ellis2156]

Thank you for your post. I will definitely do that. I applied for a cc with my credit union with requested limit of $500. I just want something in case of emergency. They were positive but are waiting on the underwriters decision.
******************

I would avoid First Premier and any other card that starts with a $300 limit, charges $75 initial fee, monthly charges, super high interest, etc. Read the terms before signing up. You would be better off with a secured card.

[ccmisery]

First Premier sent me a offer, $175/year fee, and only $700 credit line all secured, I ripped it in half and tossed it in the trash.

I'm also on the Cap One blacklist, not sure how other people who had them as a creditor were able to file BK and get a CC? Interesting Quicksilver is for Excellent Credit, amazing someone can have such a great score so soon after Discharge.

[bcohen]

I also got the First Premier offer in the mail a few days ago. I was seriously considering sending them a cease-and-desist letter complete with a scathing criticism of their usurious "offer" and a request that they never contact me again, but instead I crumpled it up and threw it in the trash. Those people ought to be ashamed of themselves, cluttering up our mailboxes with such an insulting and usurious "offer".

[ellis2156]

I bk cap one. I did try to get a secured card but was told no because I bk'd them.

[Pjmax]

First Premier sent me a offer, $175/year fee, and only $700 credit line all secured, I ripped it in half and tossed it in the trash.

I'm also on the Cap One blacklist, not sure how other people who had them as a creditor were able to file BK and get a CC? Interesting Quicksilver is for Excellent Credit, amazing someone can have such a great score so soon after Discharge.

The Cap One Quicksilver Visa is for excellent credit, the QuicksilverOne Mastercard is for average credit. The Quicksilvers replaced the "No Hassle" Rewards Cards. All Cap One's Visas are for Excellent credit.

Many people who BK'd Cap One were approved for cards after BK, some right after, some down the road. They are not known for having a blacklist.

[tobee43]

I haven't seen that many $1000+ starting limits with Cap1. The good news is, they are good with CLI's, usually after 5-6 statements. Mine went from $500 to $2000. Baby steps, you're less than 2 months out. Most are happy just to see that first post-BK approval.

that was about our pace well with them, just as you point our Pj, they were good about increases and so it barcley's!

[LadyInTheRed]

Thier hope is to give people a new start and can;t very well make too much interest or late fees off of small credit lines like $300.

They're hope is not to give people a new start. Their hope is to make profits. They aren't in it to do you any favors.