Credit Card Center Advertiser Disclosure

New Visitor
Posts: 2
Registered: ‎04-18-2017
0 Kudos

Filing Chapter 7 Tomorrow!!

Hello all,


I am going into my lawyer's office today to review my Chapter 7 paperwork, and he is going to file tomorrow. I'm very relieved that my financial stress is on the road to resolve. I do have a couple of questions:

  • Will I be able to keep any of my credit cards that currently have 0 balances?
  • If I cannot keep any of my credit cards, how soon after filing tomorrow can I apply for new credit cards?

Thanks everyone!

Posts: 15
Registered: ‎04-12-2017
0 Kudos

Re: Filing Chapter 7 Tomorrow!!

You can reaffirm a card but I do believe it's up to the bank. They can simply close your account if you file even if you don't have a balance. You can get credit the day of your discharge. More than likely if you're burning a company on 1 card but keeping another they won't allow it
Established Contributor
Posts: 1,152
Registered: ‎02-07-2017
0 Kudos

Re: Filing Chapter 7 Tomorrow!!

If you do go for another credit card right away, go for a secured card, not an unsecured one - Capital One and Discover are the most frequent sources recommended, and lately people are recommending Discover over Cap 1. However, check another recent thread which reports that applying for a secured Discover too soon after being discharged from BK might result in a denial. I think I would actually give it a few months after discharge before applying for a secured card; when I was discharged from my Chapter 7 in December 2014, I waited a year before applying for my secured Cap 1 the following December, and was approved without issue at that time. You don't have to wait nearly so long but do check your FICO scores first and make sure you can load a decent amount into your deposit.


I didn't attempt to keep any credit cards in my own BK because I was carrying high balances on all three of them, so I can't provide any specific advice there.

Rebuilding credit since 12/14 Ch7 BK discharge. FICO 10/16/17:TU 659/EX 694/EQ 688 FICO 8 or 680 FICO 9 (Penfed), VS 3.0 10/16/17: TU 704/EX 691/EQ 697. $800 Amazon Prime Store Card, $951 Cap One secured Platinum MC, $1200 Walmart Store Card, $2000 Apple FCU Platinum Visa, $3000 Penfed Power Cash Rewards Visa, $3500 Cap One Quicksilver MC, $3600 Discover It, $4300 Overstock Store Card, $10k PenFed used car loan, $5k Navient student loan. In the garden as of 7/2/17 AND THIS TIME I REALLY MEAN IT!!! (unless I get a preapproval I can't refuse...)

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.