We study the effect of magnetic anisotropy in a single electron transistor with ferromagnetic electrodes and a non-magnetic island. We identify the variation δµ of the chemical potential of the electrodes as a function of the magnetization orientation as a key quantity that permits to tune the electrical properties of the device. Different effects occur depending on the relative size of δµ and the charging energy. We provide preliminary quantitative estimates of δµ using a very simple toy model for the electrodes. In bulk ferromagnets, the dependence of resistance on the angle between the magnetization Ω and the current j gives rise to the so called anisotropic magneto-resistance (AMR). The microscopic origin of this phenomenon is the spin orbit interaction, which also accounts for the stability of the magnetization orientation (magnetic anisotropy). Recently, the concept of Tunneling Anisotropic Magnetoresistance (TAMR) has been proposed theoretically [5] and independently verified in experiments [6,7,8] in tunnel junctions with GaAsMn electrodes. The related concept of Ballistic Anisotropic Magneto Resistance (BAMR) has been proposed theoretically [9] and observed in atomic sized Nickel [10] and Iron nanocontacts [11]. As opposed to TMR and BMR, where the high and low resistance states are related to variations in Ω 1 · Ω 2 , TAMR and BAMR effects occur for Ω 1 = Ω 2 ≡ Ω and depend on the angle between the transport direction and Ω, which is controlled by an external field.The microscopic origin of BAMR and TAMR can be traced back to the dependence of the electronic structure on the angle between Ω and the crystal lattice, originated by the spin orbit (SO) coupling. In ideal 1-dimensional chains, BAMR occurs if the number of bands at the Fermi energy is different for the magnetization parallel and perpendicular to current flow [9]. In real metallic nanocontacts, the transmission of the different channels is not perfect and an ab-initio approach [12] extended to include SO interaction would be necessary to account for the experimental reports. In the case of TAMR the relevant quantity is the transmission [5], which is related to the density of states at the Fermi energy. The size of the AMR effects depends on the relative ratio of the spin orbit interaction ∆ SO , the Fermi energy ǫ F and the exchange splitting J. Not surprisingly, TAMR has been reported first in III-V ferromagnetic semiconductors, where SO coupling is the largest energy scale in the system.Motivated by recent experimental results [13], we consider a different kind of AMR effect, which takes place in a single electron transistor (SET) with ferromagnetic electrodes. Although in the experiments [13] both the electrodes and the dot are made of ferromagnetic GaMnAs, here we consider a simpler SET with