It would look better on your reports under the comments. Closed by Consumer. Rather than Closed by Credit Grantor due to BK on any cards. You dont have to report closed accounts. Open yes. And if you try to hide them. Chase and the others will find out. Not a good idea. And you could risk the chance of having your BK dismissed.
No matter how important the card might be, excluding debt is not an option when you file for Chapter 7 bankruptcy. Bankruptcy law requires you to list all of your debt on your bankruptcy petition, without exception. In other words, if you owe a creditor money, the creditor must appear on your petition.
This rule, however, goes a step further. Even if you don’t owe a balance on your credit card, you must still list it in your bankruptcy papers. A revolving credit card account is a type of contract, and your contracts are automatically canceled by bankruptcy, including credit cards, leases, and secured auto loans, to name a few. As a result, once your credit card company finds out about the bankruptcy and realizes that it no longer has a contract, it will cancel your card because it won’t be able to enforce any ongoing obligations. Simply put, without a valid agreement in place, the credit card company will not be able to make you pay for your purchases.
