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Which cards in good standing to close to get back in later? and other questions

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BM3
Regular Contributor

Which cards in good standing to close to get back in later? and other questions

Was young lost everything 15 years ago on stocks, Ive burned US bank , amex for about $1300. it wasnt a BK i just stopped paying.

 

this time Im going to have to do a BK I am burning

BOA

FNBO

 and i have balanced on disco and citi (which just slashed my limits from 10k each to $900!! (the debt amounts). which is insane, because my score is still 680-690 and ive never been late. 

 

I have chase w 8k limit, i have cap 1 with two starter cards w like 500 limit.

 

How do i do this right to get good credit in a few years? Who will let me in after and who won't?  I am stuggling for money so if i can buy something to have to sell later while i look for a job, this would be helpful, but if chase would let me in later then id rather not burn them for example.

(i wanted to aslo ask- im currently overseas and dont plan to be back in US as of now. How do i file this way? Ill be filing in Florida I believe although nothing ties me to the state besides thats where my mail goes. No taxes as of last year, expired ID as ive been outside US for awhile)

also i think i still got some letters from those debt consolidators. What would that do if i got approved for one of those and then paid off cards and filed BK?   

 

After doing some reading here , it seems applying for cards to have them before BK is a good idea but it looks like this is the counterproductive move as theyll just get closed, so then for all those store cards and whatever else to open thats all for after BK to try and get then, am I correct?

Thank you

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2 REPLIES 2
BM3
Regular Contributor

Re: Which cards in good standing to close to get back in later? and other questions

This is interesting, seems that you can just not report 0 acc and this is legal and right to do. SO then opening cards now IS a good idea?!

 

What happens to good standing accts when you file - myFICO® Forums - 2498099

 

I totally agree with ScoreBooster.  I filed a Chapter 7 BK on Oct 9th and I had at least 8 accounts with zero balances as well as all other accounts never late.

 

My attorney, one of the largest and best in San Diego, CA stated that those accounts would not be included because technically I do not owe them anything.  

Message 2 of 3
FireMedic1
Community Leader
Mega Contributor

Re: Which cards in good standing to close to get back in later? and other questions

From what you listed. Cap1 will be forgiving in time. The others. Not so much. You cant buy something and hope to make $ on it later. You have to turn in bank and credit statements to check there was no major spend before filing. Worry about the present and get your BK done.


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