Credit Card Question

[lrmatthews]

Hi All,

I am new to this forum and have been reading all that I can read because this forum is very informative.  I do have a question that may be dumb, but I honestly don't know the answer so I'll ask it here.

I will be filing for bankruptcy in the next 3 months.  I am wondering if I should apply for a new unsecured card now and not use it, while I can still get one.  After the bacnkruptcy process would the company re-open it since there was a 0 balance?  Or, would it be a waste, because they would still see the bankruptcy on my file and decline to reopen? 

Any feedback would be greatly appreciated.  I would be opening a new card with USAA.

[Anonymous]

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@lrmatthews wrote:

Hi All,

I am new to this forum and have been reading all that I can read because this forum is very informative.  I do have a question that may be dumb, but I honestly don't know the answer so I'll ask it here.

I will be filing for bankruptcy in the next 3 months.  I am wondering if I should apply for a new unsecured card now and not use it, while I can still get one.  After the bacnkruptcy process would the company re-open it since there was a 0 balance?  Or, would it be a waste, because they would still see the bankruptcy on my file and decline to reopen? 

Any feedback would be greatly appreciated.  I would be opening a new card with USAA.

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Not worth it. Will most likely get closed in the bankruptcy. File, get discharged, scrub your reports and then start your rebuild. Good luck!

[Anonymous]

Exactly what was said above. Nothing will make it through the bankruptcy. During the interim, save some money and open a secured card after discharge. I got one with OpenSky. They don't pull credit, but report quickly to the credit bureaus. A $200 minimum deposit and a $29 annual fee makes it a winner in my book. Good luck!

[Anonymous]

Well i would say it may be up to the BK trustee on that one and discuss with laywer. I left a fingerhut acct out of BK no problem and my laywer stated that's fine to keep acct open as long as it was at a 0 balance.

I had only used the card once but since it was paid I wanted to leave something on my CRs. 3 years after my BK they closed it after not using it.

[CH-7-Mission-Accomplished]

You don't want to be opening new accounts right before filing bankruptcy.  After you file, fine.   It can get ugly with a presumption of fraud should you run up a balance on the card this close to filing.

I don't think you have to wait till discharge.  I didn't.  I second the motion for an OpenSky secured card for $200.  I did it for my first card.  I applied the day after my 341 meeting.  I actually took the $600 cash, opened a share secured fixed at my credit union, and then opened a $200 secured OpenSky.  When my bankruptcy discharged I opened a second secured for $300.