Bankruptcy Friendly Creditors

[Trish]

I thought this would be helpful here since they are creditors that will approve you with a BK.
I found this information on several different sites.....so I just went ahead and brought it over here so that we would have it for anyone looking into building credit after bk (or building credit with very poor scores).

STARTER BK CARDS: score bad
1. Household - unsecured 300 - 5 mos., score about 560 - Household Bank
2. Cap1 - Secured and Unsecured - Capital One Credit Cards
3. Orchard - Secured - Orchard Bank Credit Card Application
4. Mazda (Ford) - 1 day post BK13 - auto loan
5. Kay Jewelers - $2000 - Jewelry from Kay Jewelers

6 MOS - 1 YEAR REBUILDING CREDIT: score low 600s
1. Cap1 - unsecured gold 500 - Capital One Credit Cards
2. Orchard - unsecured $500 -
3. Target Guest Card- unsecured 200 - https://redcard.target.com/ic/flow.d...B-F956082ED648
4. First Premier - $200 - Welcome to First PREMIER Bank
5. Citifinancial Mortgage - 6 mths post - 9% - Personal Loans, Online Loans, Debt Consolidation Loans, Home Equity Loans
6. Raymour and Flanigan Furniture - no URL available

1-2 YEARS REBUILDING: score mid 600s
1. AT&T Wireless - No deposit - Cell Phones and cell phone plans - | Wireless from AT&T, formerly Cingular
2. Cap1 Platinum - unsecured 5000. Yes, platinum. started w/regular card and negotiated credit line to platinum. (Wow!) - Capital One Credit Cards
3. Cross Country Bank Visa - unsecured - $300, then $600, then $1250 over time. * - Applied Bank
4. Cross Country Bank MC - unsecured - $350 * - Applied Bank
5. Dillards - unsecured - $500 -
6. Western Security Bank - secured - www.westernsecuritybank.com
7. Direct Merchants Bank $1001 (Semi-secured) - Pre-approved mailings only - Direct Merchants Bank Home
8. Sprint PCS - $200 Assigned Spending Limit - Cell Phones, Mobile Phones, and Wireless Calling Plans from Sprint
9. Newport News/Spiegals/Eddie Bauer - Women's Clothing including Swimwear, Shoes and Accessories at Spiegel.com
10. Merrick Bank - $1000 - http://www.merrickbank.com/

2+ Years Rebuilding: score low to mid 600's:
1. T Mobile - No deposit - Unsupported Browser
2. Nordstrom - suggest not applying on-line - Nordstrom: Designer Collections and Top Apparel, Shoe and Beauty Brands
3. Citibank MC- will consider (reconsider) post-7 years, usual initial denial - https://www.citicards.com
4. Nextel - must be 7 years post BK, no dep. - Sprint:
5. Exxon - 4 years - EXXON
6. Home Depot - 4 years - www.homedepot.com **
7. Bloomingdales - 3 years - Shop Bloomingdales.com
8. Verizon - no deposit - New Cell Phones, CPO Cell Phones, Prepaid Cell Phones, Cell Phone Plans - Verizon Wireless
9.Mervyn's ** - Mervyns.com
10. Target Visa - mid 600's required - Welcome to Target
11. Lowes - 3+ years - Lowe's Home Improvement: Buy Kitchen Cabinets, Paint, Appliances & Flooring
12. Wescom Credit Union - 5+ years - www.wescom.org
13. First Nationwide Mortgage - 5 years - CitiMortgage.com – Home Mortgage Company – Home Loan – Mortgage Refinancing
14. Dell - $1500 - 5+ years - Dell Laptops, Desktop Computers, Monitors, Printers & PC Accessories
15. Nissan Lease - 6+ years Nissan Vehicle Financing, Loan Options, Student Programs - Nissan USA
16. Phillips 66 - 7.5 years - ConocoPhillips
17. Ford Credit - 5 years - Ford Credit Vehicle Financing
18. Diamond Shamrock - 6.5 yrs - Valero Home Page
19. Menard's Big Card (Conseco) - $3000 - 5+ years - Menards.com - Home
20. Capital One Auto Finance -14 % interest, score approximately 650 - Auto Loans - Capital One Auto Loans, Car Loans and Auto Financing
21. JCB Card - CE642 - JCB International Credit Card CO., LTD.
22. Union Plus - originally denied, reconsidered and approved via PFB - Union Plus Credit Card Homepage
23. JCPenney - 4 years, 7 months post bk7 - JCPenney
24. BOFA Alaskan Airlines - 5 years, 3 months post bk, approved upon reconsideration - www.bofa.com


Special Considerations - please consider these with a cautious mindset as these are not based on actual approvals but information gathered through CSR's, etc.:
1. Bank of America - will consider post-BK if you have established credit and can show unusual circimstances (business loss, medical, etc.). Customer service rep reports Secured considered 5-years post BK, Unsecured 7-years post BK. (Note: I have heard of no post BK approvals yet. Please update if you receive one. Thanks!)
2. Citibank MC- will consider post-BK after 7 years
3. Citibank Diners Club - will consider post-BK if you have established credit and can show unusual circimstances (business loss, medical, etc.)
4. Federated (Pres. Club Visa)- 3 years post BK was able to override with explanation and good (>680) score
5. Federated (Macy's) Store Card - 2 years post-BK was able to override with explanation.


I had to edit and delete a bunch of the links.
If there are any broken links that I missed, please let me know.

Also.....if anyone has anything to add or has any personal experience from any of the creditors above.......please don't hesitate to add to this list or give your comments.

[Trish]

Please note:
These are BK UNFRIENDLY Creditors

Rejections (BK Unfriendly):

1. Lowe's (MB)
2. Walmart
3. Mervyns
4. Exxon/Mobile
5. Amex Green
6. Best Buy (Household)-Recently confirmed letter due to bankruptcy Ch 13 6.5
years
7. Citgo
8. Amex Optima Secured
9. CitiBank
10. Associates: Citgo (try manual 24 ms+, 3 good lines)
11. First USA (try manual 5+ years discharge)
12. Bank of America
13. Sears
14. Fleet
15. First USA
16. Mens Wearhouse
17. Monogram Bank = MB
18. Amex LOC
19. Juniper
20. Chase Manhattan
21. Corvette Mastercard
22. Target with recent BK discharge within 4 months
23. UnionPlus
24. GM Card
25. Conoco
26. Wells Fargo Secured
27. Newport News/Spiegals/Eddie Bauer
28. WFFNB
29. Kohl's
30. USBank - new information 1/31/2004 may approve with bankruptcy pending.
31. Netbank
32. Discover
33. MBNA

* I did notice some discrepancies......(some creditors are in both friendly and unfriendly list) so if anyone sees any errors in the lists or has had personal experience that disagrees with this information........by all means, let us know and we can change/fix it.

Thank you.

[improving]

Great list and extremely useful information!

I didn't notice Home Depot on both lists. FYI - I'm 6 years post B/k and got approved. (only for $500 - but more pending because we were interested in a larger order, so we'll see. ?)

I'm wondering if anyone knows for sure about Lowe's and the credit amount they give - wondering if it is starting at $500 as well?

I also want to give some useful info that American General Finance is typically a good company that lends money to past b/k as well - however, I'm not sure on the amount of years out of it or not.

Anyway, this is by far the best info I have ever seen regarding this subject, so kudos to you!

[Trish]

Thank you. I'm glad it's helpful. This list is on several different sites........but I want our members to be able to find it easily.

Thanks for the info on Home Depot! I guess I should just take it off of the unfriendly list.
Were you or anyone you know approved by American General Finance? If so, I will add it in there according to your status at the time. (how many years post bk, approx. score)

[Trish]

Hey. Thought I would post this site as well. Very helpful to research on this database before you apply for a loan/card.

Who Gave Me Credit

Good information provided by consumers as to what CCs they were approved/denied for and what their scores were at the time, what CRA they pulled, etc. It even lists if the person had a BK or not. You can also do searches by score, by creditor or by state.

I saw several approvals for Lowe's on post BK people......one was even 4 mos post Bk with a score of 586. $725 CL. Not too bad.

[improving]

Super - I'll check that out - yeah, that Lowe's one isn't too bad. I've just been scared to apply - I hate the denial part and avoid it.

Anyway, we are 6 years past our b/k - mid score around mid 600's, I need to check again soon and do a round of disputes I'm sure. And yes, we did get approved though AGF. I think they mainly do it based on collateral, income, etc., but the first one we needed and our cars were paid, we then took a loan out again using as collateral and also another 2nd mortgage. The rates are high - depending on situation, I think they tend to be high at 20%. But, I'm sure it's individual situations, etc. - not sure.

[improving]

I wonder about that Menard's one listed too. ?? $3k? How long ago?
I didn't see anything on that other site - one for $1500, but no b/k either.

I'm going to search, but I would love to get rid of (or keep open, but transfer balance with a higher limit to another card.) my Cap. One cards (they don't even report anyway and the interest is very high) and find one that will accept and transfer balances.

[Trish]

Originally Posted by improving

I wonder about that Menard's one listed too. ?? $3k? How long ago?
I didn't see anything on that other site - one for $1500, but no b/k either.

I did look on another database and it looks like Menard's denies due to BK. (one was even 9 years post bk)
It is on the friendly list......so someone had some luck........but wondering what the circumstances are.

[improving]

yeah, that is odd. I wonder how it got approved, unless it was an error some where when this person posted and who knows when that was?
If Menard's were b/k friendly, I would think there would be more reports of it anyway.