Credit Card Thread

Does anyone have suggestions for an unsecured credit card with a low balance to rebuild credit after a bankruptcy?

Quote from mk3turbo : Does anyone have suggestions for an unsecured credit card with a low balance to rebuild credit after a bankruptcy?

Perhaps after bankruptcy it would be better not to "rebuild credit" if the intent would be to eventually borrow more money.

Quote from vaultaddict : Perhaps after bankruptcy it would be better not to "rebuild credit" if the intent would be to eventually borrow more money.

Thank you for your concern, but the issue was whether or not I was able to manage my finances. But was a matter of if I wanted my child to live or die. People do file bankruptcy for other reasons aside from poorly managed finances. But thank you for your suggestion, we are looking to rebuild our credit to create less problems down the road when we decide to move.

Quote from mk3turbo : Thank you for your concern, but the issue was whether or not I was able to manage my finances. But was a matter of if I wanted my child to live or die. People do file bankruptcy for other reasons aside from poorly managed finances. But thank you for your suggestion, we are looking to rebuild our credit to create less problems down the road when we decide to move.

I think you meant "wasn't".

Also, this subject was addressed in the Reddit AMA I linked a few posts back. IIRC the answer was "Capital One".

Quote from vaultaddict : Perhaps after bankruptcy it would be better not to "rebuild credit" if the intent would be to eventually borrow more money.

What is this FWF? Since when is SD Finance about judging people?

Quote from mk3turbo : Does anyone have suggestions for an unsecured credit card with a low balance to rebuild credit after a bankruptcy?

You might want to check out rebuilding credit at http://creditboards.com/forums/ , there are a lot of tricks and hints that will help you maximize your efficiency

Thanks everyone. And yes, I did mean "wasn't". Thanks Again +rep to you both!

Quote from hAvAAck : What is this FWF? Since when is SD Finance about judging people? You might want to check out rebuilding credit at http://creditboards.com/forums/ , there are a lot of tricks and hints that will help you maximize your efficiency

Wasn't judging at all.

Just suggesting that it's always a good idea to consider lessons gained from experience.

Quote from tadc : I think you meant "wasn't". Also, this subject was addressed in the Reddit AMA I linked a few posts back. IIRC the answer was "Capital One".

After reading the material you directed me to, I was approved for an unsecured card with a credit limit of $1,000. I appreciate your help!

Quote from vaultaddict : Wasn't judging at all. Just suggesting that it's always a good idea to consider lessons gained from experience.

...based on (as-it-turns-out) completely wrong assumptions about how he got into debt.

Quote : Perhaps after bankruptcy it would be better not to "rebuild credit" if the intent would be to eventually borrow more money.

You are clearly passive-aggressively stating that he shouldn't rebuild his credit because he'll just spend more money and get into debt again. i.e., judging.

If your going to argue "that's not what I meant", you should edit your comment, because that's what you said.

Quote from tadc : ...based on (as-it-turns-out) completely wrong assumptions about how he got into debt. You are clearly passive-aggressively stating that he shouldn't rebuild his credit because he'll just spend more money and get into debt again. i.e., judging. If your going to argue "that's not what I meant", you should edit your comment, because that's what you said.

You sure added a lot to what I ACTUALLY posted.

I'm a college student who is looking to start building credit (a little late, I know).
I have a checking account with Wells Fargo, and can get a credit card through them, but I would like to start one that ideally has startup cashback, as well as % purchase cashback.

I plan to pay off the credit card monthly.
No annual fees.

Which card would you guys recommend? I would like it to be VISA.
I'm currently looking towards Chase Freedom or Sapphire.
As this is my first credit card, I assume I have no credit whatsoever.

Thank you!

Bump.

Quote from lwkeung : I'm a college student who is looking to start building credit (a little late, I know). I have a checking account with Wells Fargo, and can get a credit card through them, but I would like to start one that ideally has startup cashback, as well as % purchase cashback. I plan to pay off the credit card monthly. No annual fees. Which card would you guys recommend? I would like it to be VISA. I'm currently looking towards Chase Freedom or Sapphire. As this is my first credit card, I assume I have no credit whatsoever. Thank you!

Sign up for creditkarma.com, they show you your credit score and suggest cards that you are looking for and rate them on if they think you would qualify for them.

Quote from lwkeung : I'm a college student who is looking to start building credit (a little late, I know). I have a checking account with Wells Fargo, and can get a credit card through them, but I would like to start one that ideally has startup cashback, as well as % purchase cashback. I plan to pay off the credit card monthly. No annual fees. Which card would you guys recommend? I would like it to be VISA. I'm currently looking towards Chase Freedom or Sapphire. As this is my first credit card, I assume I have no credit whatsoever. Thank you!

you'll probably have to start with a student card before you can jump up to the rewards cards. gotta crawl before you can walk and all that.

Another possibility is to get a parent or other person with good credit to add you as authorized user on one of their cards (a card with a long, spotless record). You will "inherit" the credit record from that card, which should give your own credit report a nice jump start. Note you don't actually have to *use* the parent's card... just be listed as an authorized user.