My Bk was in 97. My credit has been clean since. I have Cap One and Providian. I am going to apply for a secured CU card on someone's advice. Are there any other cards you guys can recommend to me? Thanks
Expanding credit lines appears to be good for the score. At least this is what I am discovering by reading the old BK posts here. Am I getting it wrong?
If you owe $500 with limits of $700...YOUR IN TROUBLE. If you owe $500 with limits of $3,000...your FINE. DEBT TO CREDIT LIMIT RATIO...
King, FCNB is a good secured card. They give you up to 2 times credit limit as much as your deposit. They report your account as unsecured account and reported to all major credit bureaus monthly. You can apply the secured card in the following link: https://cardsite.fcnb.com/application/pages/applications/applicationbrochure.asp Ron.
Thanks Ron, I will take your advice and apply tomorrow. My search on this bank makes me agree that this is my best bet. I can't believe all the valuable BK stuff and credit rebuilding info here on the board.
I used to be in a similar position. My preferred post bk provider is Cap1. You can apply for another card or they'll send you an application for a mc normally in the 6 mos to 9 mos mark. I worked my limits up to 5k+ and int rate to 9.9 in 2+ years. The best part of Cap1 cards is if you decide you want to cancel one you can combine the credit limits into 1 card and have 1 large card. Providian likely won't issue another. No loss. The other card I got was a bit more expensive than Cap1... Household. I used retention to at least get the credit line over 2+ in 2 1/2 years or so... If you search my posts I put out there all about Household and Cap1... especially how their systems work and how to better your terms. All my Cap1s started unsecured. If you can get those cards they're worth it. I would agree that the FCNB secured is a good card. Minimal fees and a % times your deposit. I'd have that one be the only secured card if you can. Household and Cap1 will do unsecured with a bk. Have you checked all your reports and made sure all the accounts either show in bk or no balance still due. that will really help you reestablish credit... if you don't look like you're currently past due/owing.
Marie, I have found your posts here on the board. They are greeeaaattt!!!. You are a Bker like me. Is there anyone else on the board that I should review their posts. I mean who has survived Bk and prospered. LOL I am a Star Trek fan. I also found Shyguy. when I was in chat today, nobody had any Bk experience.
Well, I don't know if I am a good example. My Bk will be 10 years old in July. I know have prime cards, excellent credit (Experian could be higher though!) I wish I had this board because I knew nothing about credit scores until March of last year when eloan.com started making a score available to consumers. Then I got my score on EQ, as well as a 3-bureau report from a mortgage lender. It helps a lot if you can get the BK off of your credit report. Which I managed to do after 6-9 months of diligent disputing with the CRA's. I have FCNB. $1500 limit--they have never really raised me, the interest rate is not spectacular, but it is the card I use for online purchases. The annual fee is $20, and I plan on asking them to waive that at renewal in May. I have had no problems with them, so I have chosen to keep them. Also, they are one of my oldest tradelines. cariba
