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Established Member
Posts: 12
Registered: ‎01-07-2013
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Keeping my new Barclays card through BK

I can't believe it!  I got approved for the NFL Barclays credit card with a $500 CL.  My credit is bad and I am filing BK next week.  My question is - I know they are probably going to close it after they learn of BK, but can I hold on to this credit card somehow?  I literally haven't been approved for any new credit in like 3-4 years after many late payments and a foreclosure.  Any advice?

525 FICO/EQ  -  548 TU  -  500 EX  -  Over 50 deliquent accounts (mostly medical to 250K)

New Contributor
Posts: 104
Registered: ‎12-12-2012
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Re: Keeping my new Barclays card through BK

Are you filing ch. 7? If so, highly unlikely youll be able to keep it.
Established Member
Posts: 12
Registered: ‎01-07-2013
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Re: Keeping my new Barclays card through BK

Yes, Chapter 7 next Monday.  I guess my question would also be how and when to use it so it does reflect positively upon my credit if it does survive the BK.  Is it possible to reach out to them and see if I can keep it or get it back.  You know, be proactive - or am I done either way?

Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
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Re: Keeping my new Barclays card through BK

It's possible to keep it but you will have to reaffirm the debt because you have to include all creditors in BK 7 initially but a lot of times when you reaffirm, the creditor still won't reopen the card and if they do, they won't report it to the credit bureaus anymore. It is a sticky situation. I reaffirmed an auto loan and it never reported my on time payments again...ended up surrendering the vehicle.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Established Member
Posts: 12
Registered: ‎01-07-2013
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Re: Keeping my new Barclays card through BK

Another question:  I have a secured Capital One card with a $200 deposit that I have never used.  Can I get my deposit back before/after BK?

Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
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Re: Keeping my new Barclays card through BK

I think you will want to get your deposit before you file. After it is discharged, you can always redeposit your funds for a secured card...you may have to reopen it but that is no big deal. My motto has been don't trust creditors in this situation and only trust an attorney so far as I have learned that the hard way. When the attorney provides a gray answer, research his answer for caveats. Both my attorneys were so nice and SWEET before I filed. After I filed, they wanted nothing else to do with me. When a problem came up that was their fault due to the info they provided, they wanted nothing to do with it. They were more so angry that they couldn't make a quick buck off of me and angry that there was actually "a problem" that arose that they were obligated to fix. I hate bankruptcy attorneys. They treat you like garbage when it is over...like a bad boyfriend. They truly believe throughout the whole process that you are a irresponsible no-gooder and believe that you're the only one to blame but in the beginning they play like they understand as that is their job to make money off of you. So it is best to ask all of your questions before you file and before they go to court on your behalf because afterwards they are mean and won't return your calls. With the last attorney I had to threaten to file a compliant with the BBB just to get a phone call back. Just keep your eyes and ears open at all times.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Regular Contributor
Posts: 205
Registered: ‎08-29-2007
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Re: Keeping my new Barclays card through BK

Your reaffirmed debts can still report on your CR. I reaffirmed my Home & Auto and they both still report on all 3 but I will say getting there I had to make phone calls and send emails to ensure that they would report correctly.


Starting Score: TU 477 EQ 533 BK 1/27/2012
Current Score: EX 702 TU 681 EQ 652 1/10/2014
Goal Score: 700


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New Contributor
Posts: 104
Registered: ‎12-12-2012
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Re: Keeping my new Barclays card through BK

I filed ch 7 in 10/2011, I had 4 cc's:

Orchard Bank Secured ($300)
Capital One ($750)
Discover ($2000)
Bank of America ($1500)

Mind you, all 4 cards had $0 balance. My attorney, who has been helpful, calling me at the 3 month & 6 month mark post bk, and even sent me a xmas card, said the cards would be closed once I filed. He said once my ssn comes up in their data base with a pending BK, cards will be closed. He said to call and see if they will keep them open.

I called, Capone, Discover, & BOA, and they said they would close the cards if BK if their database. So I just closed them out. Orchard Bank said they would keep the card open, so I left the card open. Low & behold, the day I file, I go to use the Orchard card, its declined. It is of my belief they lied to me to keep my deposit. Since they closed my account, I forfeited my $300 deposit. As always, YMMV, but id close all cards ASAP.
Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
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Re: Keeping my new Barclays card through BK

+1 good advice and great story to back it up.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Established Member
Posts: 12
Registered: ‎01-07-2013
0

Re: Keeping my new Barclays card through BK

Thank you for the advice on my secured card and the others.  I guess I will just close them and wait for the new offers post-BK.  What kind of offers would you normally get for new cards and how soon/when in the BK process?

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