Next Steps?

[CreditCrisis]

So, I've gotten a good amount of derogatory/collection items removed and now I just need to start building my credit. I'm not quite qualified enough yet for a major line of credit, ie: car, or personal loan. however, I tried to get a SECURED card with my own bank and was denied! They said they sent me a letter with an explanation, but i never received it and i cant find out the real reason from any kind of rep. I think it may be due to the bk on my file though. does anyone know of any other fail proof ways to start building new lines of credit in this kind of situation?

thanks

[jjgross]

Originally Posted by CreditCrisis

So, I've gotten a good amount of derogatory/collection items removed and now I just need to start building my credit. I'm not quite qualified enough yet for a major line of credit, ie: car, or personal loan. however, I tried to get a SECURED card with my own bank and was denied! They said they sent me a letter with an explanation, but i never received it and i cant find out the real reason from any kind of rep. I think it may be due to the bk on my file though. does anyone know of any other fail proof ways to start building new lines of credit in this kind of situation?

thanks

You might think about a new bank!Stop and think a secured card is your money that you send to get a card that has a limit of YOUR MONEY!Not theirs no loss to them.You might try the high fees cards you find on the internet.

[CreditCrisis]

yeah. i tried wells fargo too. i just sent an application to orchard. we shall see!

Thanks

[improving]

Yeah, previous post is right! I'd run (not walk!) and change banks!
I never knew you even could be denied of a secured card anywhere - it's YOUR money. That is odd to me - is your reputation really that bad?? j/k:D
I think many have had great luck with Orchard Bank though.
Oh yeah, as an FYI - I don't know what you're scores are, credit history, etc. - ours are around mid 600's with past b/k - we just got an approved card from Home Depot. I haven't tried a store cc in a long time so I was surprised.

[Trish]

I have heard that it is much easier to get a secured loan through a credit union......just a thought.

Also, I decided to post a list of BK friendly creditors in case you're interested.
Bankruptcy Friendly Creditors

[CreditCrisis]

Thank you. That's a helpful post

[jjgross]

Originally Posted by CreditCrisis

Thank you. That's a helpful post

Trish i got a juniper card with a $600 cl at 7.99% fixed 6 months after discharge of my bk 7.However i was just turned down by discover card.And who ever applied in my name for a boa was turned down.:D

[Trish]

Originally Posted by jjgross

Trish i got a juniper card with a $600 cl at 7.99% fixed 6 months after discharge of my bk 7.However i was just turned down by discover card.And who ever applied in my name for a boa was turned down.:D

Cool......I just checked the list and that's exactly what it says (juniper - BK friendly, Discover - unfriendly and BOA under special circumstances)

I hope this will help some people so.......at the very least they can see who will NOT give them credit. That way they don't waste their time and a CR pull.

[jjgross]

Originally Posted by Trish

Cool......I just checked the list and that's exactly what it says (juniper - BK friendly, Discover - unfriendly and BOA under special circumstances)

I hope this will help some people so.......at the very least they can see who will NOT give them credit. That way they don't waste their time and a CR pull.

My daughter has a card with juniper started at 2100 at 7.99%.they cut her cl to $1100,but then everyone is doing that some are even cutting none users of the use of their cards by closing good accounts.:D

[CreditCrisis]

ok. so i sent my application and a check to orchard bank. checked my bank account this morning and the check was cashed. now, i'm assuming that i will be receiving my card in the mail shortly.

only bad thing, i owe HSBC (who orchard goes through) some money. can they legally cash my check and put it towards a bad account with them? i made sure to put in the memo of the check "Secured credit card application"

please help! now i'm freakin out!