Just curious what limits people started at when rebuilding and how long it took to get them higher?? I've seen people posting that have started out a lot higher than I was able to get when I started rebuilding. We had good credit when we filed too, no derogs. I've also seen people at very high limits after a couple of years and we're still sitting plugging along with some low ones. What cards are you holding?? Any advice to get limits higher? Newstdt
Yeah, don't file Bankruptcy and you will see higher limits! Why would you even consider credit after filing such a short time ago?
Re: Re: What are your c/limits post bk?? Oh geez, I thought your [type] was gone from here. No wonder your name is helpwanted, you need it. I never said how long ago I filed for one thing and the reasons people rebuild after a bankruptcy varies so you have no idea what the hell you're talking about. I guess this is still troll village, on to other decent credit boards. Newstdt
Re: Re: What are your c/limits post bk?? Geez, for a poor sucker who filed for bk, my scores are still at least 70+ points higher than yours even with my "limits". Newstdt
Re: Re: What are your c/limits post bk?? I think helpwanted misunderstood the question... Anyway, I personally filed BK in 1996. I have a $500 unsecured card from Orchard, a $500 semi-secured from Capital One, a $200 secured First Premier and a $100 Macy's card. My limits remain low due to the fact that even after filing BK, I continued paying accounts late. What's KILLING my scores right now are my student loans. I am in a loan rehab program with all of them but they love to report 1 loan 3 different ways and they're all negative. All showing as currently 120+ days past due when they're not. Only a few more months of this garbage. My husband, filed Chapter 7 in 1999. He, on the other hand, has had only 1 negative (a car loan that went sour) after the BK. He has a $500 Orchard, a $2000 Corvette card, a $2500 Union Plus card, a $1000 GM card, a $725 Lowe's card and is an AU on my First Premier.
Re: Re: What are your c/limits post I started rebuilding in 94 with two secured cards, Orchard and Cap.1. Total limits $1,100. This is how limits changed with no derogs after 94.: 95 $3,600 96 $9,225 added Providian 97 $11,200 98 $15,300 added second Orchard 99 $16,900 added second Cap. 1 00 $69,100 first prime cards 01 $68,300 dumped Cap.1, Providian and Orchard 02 $74,750 03 $75,050 plus $24K in business credit lines average APRs dropped from 19% to under 10%. average credit line increased from $550 to $12,458
Re: Re: Re: What are your c/limits post bk?? Smontoya and Daveberk: Thank you for the feedback, this is what I was hoping for!! We filed in 2001. I have an Unsecured Orchard at $500, Hubby has one at $1100 and a HH at $1500. We both had the Providan Get Smarts but with the whole sell off to Emerge we've paid those off and are going to close them upon the annual fee date (just letting them age for now). We also have Target GC for $500 each and a joint Mervyns at $900. I also have a Texaco card at $1800. I was just curious because we have been current since we obtained the credit, have used them and paid them off and yet I read of people who two years out have limits of 5K+. I was just wondering "who and how" that's all. I've read info about when you apply, other creditors look to see what comparable limits you're currently holding. We're also thinking about it from the ratio standpoint. Thanks for your "helpful" responses! It IS appreciated. Newstdt
Well, I am fairly new to rebuilding credit...my discharge was 9/02 and so far I have: $500 Capital One secured with $99 down $1000 Orchard Bank unsecured $2000 Providian Platinum unsecured $200 Target And right now, that is all I want...I get a stomach ache when I think I HAVE TO use these cards to rebuild my credit. I have 5 student loans that are in good standing. I also kept my leased car throughout the BK...it reports as "included in my BK" so it isnt helping me now...but once I finish the lease according to my contact, they will report it as "paid in full as agreed".
Re: Re: What are your c/limits post bk?? I agree. We haven't applied for any credit after we obtained what we did right after discharge. Our "primary" objective in getting what we had was to start our new "history of on time payments" to qualify for a home loan two years post discharge. I had read over and over that 4 or 5 tradelines was optimal, but now I read two or three. Who knows, I just know even having what we do have HAS helped our scores jump a lot. Once we get the house, I'll keep a couple and that's it. Right now it's all about letting anything we do have age and show positive history. I'm curious about your Providian account though. I can't understand why they sold off so many sub-prime accounts only to let people keep applying afterwards. I thought the buzz was they were changing their game plan. I'm totally glad you got a good tradeline, I just wonder what the deal was. We had never paid late, paid it off, carried a balance, basically we've been doing our darndest to use our credit to work the hardest for us and we still got sold to Emerge. They're too hard to figure out! LOL! Did they give you a decent rate? Your limit is pretty good post discharge too, that's really a great start. Thanks for the input, I appreciate it. Newstdt
Re: Re: Re: What are your c/limits post bk?? Well, The percentage rate is 19.99% with no annual fee. I received a pre-approved offer in the mail for up to $3000 and received $2000. Actually I received this same offer about 20 times! They must really want my business, LOL!!! A friend in work (also post BK-discharged 8/02) had worse scores then me and she received the same thing.
Hi, I'm in the same boat, but things seem to be looking a little better now. My BK was discharged in 2001, and right away I received a FCNB for $500 and Orchard Bank for $300 (both unsecured). Just like a previous poster, I have a car "included in BK" so even though I make the monthly payments, I don't get credit for it. I'm in the process of buying a new (used) car right now to help me resteablish credit. The car dealer could not get me a loan -- not even throught the 23% interest guys. I applied through PeopleFirst.com and got approved (through Cap One) for up to $22,000, at 14% interest! Not too bad when I was expecting much higher interest. So my plan is to rebuild credit this way. I also just received a Merrick Bank unsecured for $1,000, so I'm going to cancel Orchard Bank. Good luck to you!
smontoya5, Do I ever feel your pain I have one student loan that is reported THREE times due to selling it other creditors and it shows as 120+ late, that is why with my BK filed in 95, good credit cards are hard to come by. Anyways, Cap. 1 MC 2900 Cap. 1 Visa 3400 I am thinking about sending in a pre-approved app for Providian Plat (no ann fee, 10.9 APR, but have not decided yet). It promises a CL up to $10,000, but doubtful I'll get half that.
Re: Re: What are your c/limits post bk?? SMONTOYA5 you said your hubby got a Lowe's card post BK? Filed in 1999 and has a $725 Lowe's card. I though Lowes (and Home Depot) was an automatic "decline" because of the BK?
Re: Re: Re: What are your c/limits post bk?? I thought so as well. On a whim, we applied online and he was approved for the Lowes. Applied 10 minutes for Home Depot and were denied due to the BK.
Re: Re: What are your c/limits post bk?? Wow...sounds like Providian is really trying to get back into the subprime business... All I keep getting is "invitations to apply" to Citibank- yeah right- like I'd approved for one of their cards!
Re: Re: What are your c/limits post bk?? Post BK 7 - 2/6/03 Household - $300 Orchard - $300 Vehicle Loan - %18 $17,000 And kept another vehcile through BK and reaffirmed so it is reporting in good standing. Kept house although not reaffirmed. And before I get reamed for wanting credit so soon, my BK was because of other personal reasons. I had gone through a really tough time and opening bills and paying them was the last thing on my mind. (maybe too much info) But I wanted that known. ) Missi Good luck to all!!!
