I have 2 credit cards. One with Capital One with a credit limit of $500. They will not give me a credit increase for over 2 years and I have paid on time and maxed the card 2 times and paid it in full. The other card is with Household Bank. I had the card one year and they increased my limit with no problem. I do have a chapter 7 discharged in the year 2000 and chapter 13 in 2005 dismissed, plus my FICO score is 646. Can I get a new card with a credit limit of $3500 to pay the other 2 cards, with a low interest rate and no yearly fee? Can you direct me to the specific new credit card you recommend? I have no delinquencies or collections or anything else on my credit report only the 2 bankruptcies. Please advise. Thank you.

The truth is – you will, probably, NOT qualify for a significantly low interest credit card, right now. Based on your credit score, you will most likely qualify for an APR of around 17% percent. The good news is that your credit is considered “FAIR”, which means you are somewhat close to having a good credit score! To get into the “Good” credit standing, you will need to continue being responsible with your finances, and maintain a low debt-to-credit ratio. Do not miss any monthly payments. Right now, your most important task is to continue paying on time all of your current accounts. Another great idea is to convince a friend with an excellent credit score, to add you to his credit card account, which can be done without you getting the actual card. Associating yourself with your friend’s excellent credit score will NOT be a game changer, but it will help along the way. By now your Chapter 7 bankruptcy should already disappear from your credit report and Chapter 13 should do so in a few years as well. You have a good chance at greatly improving your credit score in the near future!