Secured credit card

[MiSSMaGoo]

So my friend who filed chapter 7 in Nov 08 and was discharged in Jan 09 applied for a secured credit card and was declined. Just looking for advice for her or if someone has had the same situation because she wants to start rebuilding credit but if she cannot even get a secured credit card, what should she do?

[Floridagail]

THere is info under sticky, after discharge. My sister filed 2004, she got cc offers right away in mail tell your friend to just be patient it takes time.

[jessegirl]

Believe me they will come. I am not even discharged yet and I am getting them everyday damn day. They ae terrible ones, like a set up fee, a monthly service fee, a yearly fee, a statement fee, etc. What a rip off. I just rip them up.

[NoMoreRed]

I would stay away from CC's altogether. Get a checking account with a Visa Debit card and work with the funds directly from your account instead of paying creditors.

[novayalife]

Thankfully I have a car I am reaffirming to build my credit for me. I will definately stay away from all secured credit cards and their ridiculous rates and charges!

[MiSSMaGoo]

Thanks for your responses. I hear ya on the secured cc's and what a rip off they can be... however if one wants to build credit and get denied from a secured card I would think there isn't much hope for anything better. But yeah I will just tell her to give it some more time and we'll see.

[StartingOver08]

Also, have her open a savings account at a local CU. Once she has a pattern of savings and enough in her account, she can probably get a secured card.