Recent discharge - Applied for Cap One Quicksilver only $300

[professorkev]

Definately do cap one but build that for 6 months then hit up Barclays (whichI think is better than cap one)

Don't forget, try the shopping cart trick with other store cards (search it in forums)

[sailing2013]

I've tried searching the "shopping cart trick" but can't find anything. Can you provide a link, or explain it briefly? I'm not a fan of "tricks" but I am admittedly curious. Cheers, Steve

[Pjmax]

I've tried searching the "shopping cart trick" but can't find anything. Can you provide a link, or explain it briefly? I'm not a fan of "tricks" but I am admittedly curious. Cheers, Steve

This is an older one http://www.bkforum.com/showthread.ph...=Shopping+cart

It's now Comenity Bank not WFNNB. I find it easier to search by 'shopping cart' - not every post or thread calls it a trick.

[sailing2013]

Thanks, amigo!

Don't think its for me, but an interesting read.

[ccmisery]

I cleaned up my credit reports and have a car loan with Ford Credit reporting as positive on all three, and only a few of my CCs are reporting "included in BK" on my reports, several were removed and I am still not having success in getting a secured CC little alone a unsecured one. 4 months past discharge, I think it all depends on when you file and what shape your credit was when you filed, some people file with a great record and others go 6 months+ with late payments, and 90 days past and this is why I think I am having a rough time.

[Pjmax]

I cleaned up my credit reports and have a car loan with Ford Credit reporting as positive on all three, and only a few of my CCs are reporting "included in BK" on my reports, several were removed and I am still not having success in getting a secured CC little alone a unsecured one. 4 months past discharge, I think it all depends on when you file and what shape your credit was when you filed, some people file with a great record and others go 6 months+ with late payments, and 90 days past and this is why I think I am having a rough time.

CC, ALL your accounts should show 0 balance and IIB. I was layed-off 3 1/2 yrs. before filing, so I had lots of lates and chargeoffs. It took a few months to get all my accounts corrected. Your car loan may not be helping that much right now, installment loans don't count as much as revolving in scoring, but I believe it counts in utilization, so if that's your only positive account, and it's fairly new, it looks similar to a maxed-out account, although not quite the same as having a maxed CC. Only time will help that one and your inquiries.

Get the rest of your accounts corrected, and don't give up. Sometimes, 6 mos.-1yr. post-BK is the magic time for many.

[ccmisery]

CC, ALL your accounts should show 0 balance and IIB. I was layed-off 3 1/2 yrs. before filing, so I had lots of lates and chargeoffs. It took a few months to get all my accounts corrected. Your car loan may not be helping that much right now, installment loans don't count as much as revolving in scoring, but I believe it counts in utilization, so if that's your only positive account, and it's fairly new, it looks similar to a maxed-out account, although not quite the same as having a maxed CC. Only time will help that one and your inquiries.

Get the rest of your accounts corrected, and don't give up. Sometimes, 6 mos.-1yr. post-BK is the magic time for many.

They do show $0 and IIB. Obviously not, the car loan is not helping at all. I am also in the middle of trying to get them to show both reaffirmed cars, the leased car is not showing on any of my credit reports now. I thought it would help to have it shown as a positive, since I lost all my credit history going back 20+ years.

I am working with Debit Cards now and may give up on CC's until next summer. I really do not want or need a CC and the Debit Cards should do for all travel needs related to my job. I have to request upfront cash though and my employer is difficult to deal with.

[Pjmax]

Just thought I'd update on Barclay's, since 'how soon' was brought up here. I was discharged a year ago (11/29/12.) I've had one Cap 1 since Jan., another Cap 1 since March. I've had auto CLI's on both, the first went from $500 to $2000. I had applied for Barclays twice, once in Jan., and again in June, both denied. Applied again last week, instant approval for $2500. I nearly fell off my chair.

So, although some have been approved for Barclay's sooner, it looks like 1 year was it for me. I have some auto-pays on my Cap 1 cards, things I would use my debit card for anyway, like my cell phone bill, and sometimes groceries, and pay them off regularly, sometimes before the statement, sometimes after it posts. I don't use them for anything I don't have the cash (debit card/checking) for.

I understand CC's aren't for everyone, especially after BK, but for me, personally, I like having the security of a card in my wallet, should an emergency arise. I've recently started working again, (only income was SS) and I'm starting to save for the first time in a long while. Hopefully, I'll have a decent amount in savings before that emergency shows up. If no emergency, a good portion will go to my "next car" fund. Since we now know we can no longer count on having a job as we used to know it, I won't be taking on any debt that I can't maintain on SS alone, which isn't much.

[joshuagraham]

We shop and pay this way each time we take our yearly trip to Galveston, TX, which is coming up.

That's an interesting place for someone from northwestern Florida to go for an annual trip! Family, friends there?

[joshuagraham]

I am actually amazed that companies offer credit limits higher than a few hundred dollars fresh out of bankruptcy. Especially if you discharged debt owed to that same company.

After defaulting on USAA (but still having insurance through them), I've been left to their bare bones mobile phone website, instead of the sleek, regular website.

[joshuagraham]

I'm not, it'a all risk based. I risked taking on that credit so many years ago, they risk giving it to. Banks have certainly made alot of money off people with those high interest payments. 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.

The senior Senator from Massachusetts, Elizabeth Warren, in her pre-Senate days as a consumer advocate, once gave a seminar to bunch of bank suits about how all their defaults are with customers with bad credit scores and no money, etc. (DUH!). The Big Cheese there thanked her for the presentation and then politely mentioned that those customers are where they made all their profits! Anyone feeling guilty about "welching out" on their debts to a bank should keep this in mind!

[sailing2013]

Agreed, Josh. The banks are not your friends. No one should have remorse for welching on a debt to a big bank. (Collectively-owned credit unions are a different story.) You're just a name and a calculation to the big banks, nothing more. Don't buy into their collection agents' guilt trips, either.

[PhillyGuy]

I'm just pondering something after reading this site for over a year now. I filed BK7 not due to debt but bad investments, but my cc's had a balance so I had no choice but to include them. I kept my house and car, was never late on any personal credit cards, mortgage, car payment, etc., ever. My FICO scores are listed below which are not too bad. I was discharged earlier this year. I am in the same boat as everyone, rebuilding my credit. I haven't applied for a cc yet for two reasons, 1. I don't want to not get approved and have a hard pull on my report (currently I do not have any inquiries), 2. My asset case is not closed yet, so I didn't know if that would be a factor, having an open case still.

What I do not understand with all these posts, why do you need more than one credit card? If you use it wisely, pay it off, it will help your scores. Pre-BK, I had two, a main card with a $15,000+ limit which I had for over 20 years and a Old Navy card (had for a year) I used for the points for my child's clothes, which I paid off every month. If you filed BK due to debt, why would you want all these cards and get your self back in debt trouble in the future?

I have had no problem using cash to live, and will carry only one card in the future, when I finally feel comfortable applying for a card and believe I will be approved.

Just my thoughts.

[LadyInTheRed]

PhillyGuy, It is my understanding that it helps your score to have multiple credit lines in good standing. Having more than one credit card does not mean you have to charge more than you can pay off each month.

[PhillyGuy]

PhillyGuy, It is my understanding that it helps your score to have multiple credit lines in good standing. Having more than one credit card does not mean you have to charge more than you can pay off each month.

Agreed, but that is how people got in this mess in the first place. I would like to know how many people have been discharged, started off fresh, got a few cards, then just ran them up again.

I'm not trying to start an argument, I just don't see the need for a wallet/purse of cards.