Jump to content

Sign in to follow this  
Liam W

Unsecured credit cards after bankruptcy

Recommended Posts

It may not be the most ideal option but I went with a couple of small loan companies first off and apid these off fairly quickly. This boosted my credit score up.

Share this post


Link to post
Share on other sites

I wanted to update this board as it seems to be very quiet...

 

I just got a new Canadian Tire MC in the mail today, not even 2 years post BK. I suppose I can attribute some of it to the 2 secured cards I've been using (Capital One and CUETS)

 

A few weeks ago, I was also approved for a $6000 loan from my Credit Union to consolidate some debt that survived my bankruptcy. The nice lady I deal with at the Credit Union was very impressed with the fact that my score was 659 not even 2 years post BK. She saw that and the loan was approved in a flash, and at a reasonable rate of 13.5%

 

The sole condition for approving the loan was that I deposit $25 of every pay into a savings account. No biggie! I can touch the money only once the loan has been paid in full.

 

Just another update:

 

December 2011 - Applied for Target RedCard during a trip to Niagara Falls, NY and got instantly approved for $200. This was later upped to $500.

 

May 2012 - Asked Canadian Tire for an increase and was upped from $2000 to $3500

 

November 2012 - Asked Canadian Tire for another increase and was upped from $3500 to $6000. Somehow, my interest rate also got lowered to 16.99% in the process too.

Edited by Liam W

Share this post


Link to post
Share on other sites

I wanted to update this board as it seems to be very quiet...

 

I just got a new Canadian Tire MC in the mail today, not even 2 years post BK. I suppose I can attribute some of it to the 2 secured cards I've been using (Capital One and CUETS)

 

A few weeks ago, I was also approved for a $6000 loan from my Credit Union to consolidate some debt that survived my bankruptcy. The nice lady I deal with at the Credit Union was very impressed with the fact that my score was 659 not even 2 years post BK. She saw that and the loan was approved in a flash, and at a reasonable rate of 13.5%

 

The sole condition for approving the loan was that I deposit $25 of every pay into a savings account. No biggie! I can touch the money only once the loan has been paid in full.

 

Just another update:

 

December 2011 - Applied for Target RedCard during a trip to Niagara Falls, NY and got instantly approved for $200. This was later upped to $500.

 

May 2012 - Asked Canadian Tire for an increase and was upped from $2000 to $3500

 

November 2012 - Asked Canadian Tire for another increase and was upped from $3500 to $6000. Somehow, my interest rate also got lowered to 16.99% in the process too.

 

 

 

 

 

Just curious about whether or not Target has been reporting the card to your Canadian credit file? I know they would have pulled your Canadian credit report to approve the card, but do they then start you up a US credit report, report your usage to the Canadian bureaus, or do neither?

 

Also, as TD is buying Target's US credit card operations, I wonder if they will reinstate the Target VISA... I'd be interested in getting a Target store card if there was some chance of eventually converting it to a VISA. It seems likely to me that the VISA will come back, but I can only speculate.

 

L-Bo

Share this post


Link to post
Share on other sites
Guest w_a_y_n_e

I wanted to update this board as it seems to be very quiet...

 

I just got a new Canadian Tire MC in the mail today, not even 2 years post BK. I suppose I can attribute some of it to the 2 secured cards I've been using (Capital One and CUETS)

 

A few weeks ago, I was also approved for a $6000 loan from my Credit Union to consolidate some debt that survived my bankruptcy. The nice lady I deal with at the Credit Union was very impressed with the fact that my score was 659 not even 2 years post BK. She saw that and the loan was approved in a flash, and at a reasonable rate of 13.5%

 

The sole condition for approving the loan was that I deposit $25 of every pay into a savings account. No biggie! I can touch the money only once the loan has been paid in full.

 

Just another update:

 

December 2011 - Applied for Target RedCard during a trip to Niagara Falls, NY and got instantly approved for $200. This was later upped to $500.

 

May 2012 - Asked Canadian Tire for an increase and was upped from $2000 to $3500

 

November 2012 - Asked Canadian Tire for another increase and was upped from $3500 to $6000. Somehow, my interest rate also got lowered to 16.99% in the process too.

 

 

 

 

 

Just curious about whether or not Target has been reporting the card to your Canadian credit file? I know they would have pulled your Canadian credit report to approve the card, but do they then start you up a US credit report, report your usage to the Canadian bureaus, or do neither?

 

Also, as TD is buying Target's US credit card operations, I wonder if they will reinstate the Target VISA... I'd be interested in getting a Target store card if there was some chance of eventually converting it to a VISA. It seems likely to me that the VISA will come back, but I can only speculate.

 

L-Bo

 

 

You cannot have a U.S credit report with a Canadian S.I.N, you need to have a U.S SSN to create a U.S credit file. This is because, SSN and S.I.N are both 9 digits in length and it would cause a huge mess in the credit bureaus in the U.S.

 

Try entering your Canadian S.I.N here http://www.ssnvalidator.com/ like this XXX-XX-XXXX

 

Mine comes up to a deceased person from Iowa. So again, if they were to allow a Canadian S.I.N to create a U.S credit file, there would be one heck of a mess.

 

To answer your question, Target pulled my Canadian Equifax file to approve my card, and rumour has it that they'll report to Equifax Canada only. When and if that happens, i'll update this thread, unless Liam does first.

 

Here's to hoping TD brings back the Target Visa :grin:

Share this post


Link to post
Share on other sites

 

 

I wanted to update this board as it seems to be very quiet...I just got a new Canadian Tire MC in the mail today, not even 2 years post BK. I suppose I can attribute some of it to the 2 secured cards I've been using (Capital One and CUETS)A few weeks ago, I was also approved for a $6000 loan from my Credit Union to consolidate some debt that survived my bankruptcy. The nice lady I deal with at the Credit Union was very impressed with the fact that my score was 659 not even 2 years post BK. She saw that and the loan was approved in a flash, and at a reasonable rate of 13.5% The sole condition for approving the loan was that I deposit $25 of every pay into a savings account. No biggie! I can touch the money only once the loan has been paid in full.

Just another update:December 2011 - Applied for Target RedCard during a trip to Niagara Falls, NY and got instantly approved for $200. This was later upped to $500.May 2012 - Asked Canadian Tire for an increase and was upped from $2000 to $3500November 2012 - Asked Canadian Tire for another increase and was upped from $3500 to $6000. Somehow, my interest rate also got lowered to 16.99% in the process too.
Just curious about whether or not Target has been reporting the card to your Canadian credit file? I know they would have pulled your Canadian credit report to approve the card, but do they then start you up a US credit report, report your usage to the Canadian bureaus, or do neither?Also, as TD is buying Target's US credit card operations, I wonder if they will reinstate the Target VISA... I'd be interested in getting a Target store card if there was some chance of eventually converting it to a VISA. It seems likely to me that the VISA will come back, but I can only speculate.L-Bo

I'm doubtful it reports on the US side of things, but it DOES report here, albeit only to Equifax. When you apply they pull Equifax.

 

It's nowhere to be found on TU.

Share this post


Link to post
Share on other sites

Hey Liam,

I have a few bad debts on my history from 5 years ago, and I was recently approved for Capitol 1 unsecured card for $1000. What would you advice I should get in order to boost my credit history up ? Can you tell me where you applied your secured card at ... was it through cuets.ca ?

Share this post


Link to post
Share on other sites

Hey Liam,

I have a few bad debts on my history from 5 years ago, and I was recently approved for Capitol 1 unsecured card for $1000. What would you advice I should get in order to boost my credit history up ? Can you tell me where you applied your secured card at ... was it through cuets.ca ?

No, you need to apply for it through a CU that offers these cards since they're the ones who will be holding the deposit on behalf of CUETS.

 

Not sure where you're located, but in Toronto I know mine does it. Its called MemberOne Credit Union.

 

I highly recommend my CU as they've been nothing but helpful.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  




About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines