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Credit Card - Discharged bankrupt
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# 1
steve1178
Old 29-01-2008, 9:22 PM
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Default Credit Card - Discharged bankrupt

Hi Guys,
I was made bankrupt in Feb 2004 discharged feb 2006.

I was just wondering if any place would give me a credit card? Not to spend money that isnt mine but to pay in full every month, just to try and rebuild my credit rating (wouldnt mind if the credit limit was only £50)..

If not how long will it be untill i can obtain any sort of card to try and reistablish my credit rating?

any advice is very welcome as i have tried capital one which i was told cater for people in my situation but was rejected.

Thanks
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# 2
philnicandamy
Old 29-01-2008, 9:37 PM
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You'll strugle to find anything really until the BR drops off your credit files in 6yrs, the only thing that'll repair your credit rating is time, there are a couple of cards one of which you already mentioned and Vanquish...they are a ridiculous APR rate and only carry a balance of around £500 or so, why did capital one turn you down? they usually will give you a card with around £250 but you are asked for a deposit first

Since your discharge have you had a look at your credit files and cleaned up any errors? might be something on your files your missing? worth a try

Some more info here

http://forums.moneysavingexpert.com/....html?t=677875

Last edited by philnicandamy; 29-01-2008 at 9:40 PM.
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# 3
NekoZombie
Old 30-01-2008, 9:55 AM
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I would say that in today's economic climate (what with all the problems in the US due to lending to people like...erm...us) and the credit crunch, you'll find it very hard to impossible get a credit card at the moment. People with far better ratings are being turned down, let alone former bankrupts.

I think this is a project best shelved for some time in the future.
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# 4
Richard_S
Old 30-01-2008, 10:03 AM
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Quote:
Originally Posted by NekoZombie View Post
I would say that in today's economic climate (what with all the problems in the US due to lending to people like...erm...us) and the credit crunch, you'll find it very hard to impossible get a credit card at the moment. People with far better ratings are being turned down, let alone former bankrupts.

I think this is a project best shelved for some time in the future.
Neko, you're bursting all my little bubbles.

I was expecting to buy a bigger house, a new car and have a credit card by the end of June this year.:rolleyes:
Your first port of call should be to contact one of the Debt Charities; see links below. Their services are free; they have no vested interest to serve; their advisors are professionally trained and the advice they give will be objective and in your best interests only.

CCCS 0800 138 1111 National Debtline 0808 808 4000 Business Debt Line 0800 197 6026 CAB – Contact your local office and ask to speak to a Specialist Financial Advisor.

(Links approved by MSE Forum Team )

Bankruptcy Supporters Club No.2
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# 5
Notgotapottoweein
Old 30-01-2008, 10:14 AM
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Quote:
Originally Posted by Richard_S View Post
Neko, you're bursting all my little bubbles.

I was expecting to buy a bigger house, a new car and have a credit card by the end of June this year.:rolleyes:


BSC No 104
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# 6
NekoZombie
Old 30-01-2008, 11:29 AM
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Quote:
Originally Posted by Richard_S View Post
Neko, you're bursting all my little bubbles.

I was expecting to buy a bigger house, a new car and have a credit card by the end of June this year.:rolleyes:
I can believe it. Luckily I'm here to remind you it ain't gonna happen! ......yet
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# 7
Richard_S
Old 30-01-2008, 11:33 AM
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Quote:
Originally Posted by NekoZombie View Post
I can believe it. Luckily I'm here to remind you it ain't gonna happen! ......yet
Ouch!!

Neko, you must be the conscience and sense of reality that I seem to be lacking.
Your first port of call should be to contact one of the Debt Charities; see links below. Their services are free; they have no vested interest to serve; their advisors are professionally trained and the advice they give will be objective and in your best interests only.

CCCS 0800 138 1111 National Debtline 0808 808 4000 Business Debt Line 0800 197 6026 CAB – Contact your local office and ask to speak to a Specialist Financial Advisor.

(Links approved by MSE Forum Team )

Bankruptcy Supporters Club No.2
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# 8
Notgotapottoweein
Old 30-01-2008, 11:38 AM
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Quote:
Originally Posted by Richard_S View Post
Ouch!!

Neko, you must be the conscience and sense of reality that I seem to be lacking.

If you don't have a dream how you gonna make that dream come true
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# 9
philnicandamy
Old 30-01-2008, 11:43 AM
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# 10
NekoZombie
Old 30-01-2008, 11:49 AM
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Originally Posted by philnicandamy View Post

Please sir, can I have some more?
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# 11
NekoZombie
Old 30-01-2008, 11:52 AM
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Quote:
Originally Posted by Notgotapottoweein View Post
If you don't have a dream how you gonna make that dream come true
Nothing wrong with dreaming, though one could argue that the 'american dream' is part of the reason for sub-prime mortgage lending and the resulting fall-out is part of the reason why the OP is finding it hard to get a credit card. A clear case of a dream turning into a nightmare.

Not to put to fine a point on it.
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