Looking for CC Advice Post Chp7

Anonymous · ‎06-02-2015

Good evening,

Here is my situation. I am post chp7 as of January of this year. I've begun to rebuild credit and it's working quit nicely. Currently I have 2 QS1 cards ($300 & $500), a NFCU secured card ($500) and I rediculous CC called TOTAL for $300. I really want to get rid of the TOTAL CC as it has no perks and I learned on yesterday that they only give CLI's of $100 per year. CAN YOU FREAKIN' BELEIVE THAT.

Anywho, my thoughts are to transfer what little balance I have on this card and move to another card. Being post BK should I just leave the card alone for a year and then do away with it? Do I come out the garden and look for a card that I can transfer then balance to? With my scores is it even possible? All comments and suggestions are welcome.

Pway · ‎06-02-2015

Since you have paid the fee's for the first year, I would keep it and close it at the 1 year mark to avoid additional fee's. Your Capital One cards with grow with you nicely. I have already seen the growth within 3 statements. Before I found the forums I signed up for the Verve MC and since I have paid the fee for the first year I am going to keep it and close it in November at the 1 year mark.

Thank you for the wealth of knowledge I have learned from these forums. I am logging off as of November 9, 2022. I wish everyone great success.

Scupra · ‎06-02-2015

I agree with Pway on this one! Let the card do it's job and don't pay any more fee's on it. I wouldnt use the card to be honest. You only need three cards to optimize your FICO score. I am sure there would be a fee to do a balance transfer as well, so just pay it off.

Anonymous · ‎06-02-2015

Thanks. I think thats what I'll do. I'll just soak drawer this card til the 1yr mark and close it out. Thanks

Scupra · ‎06-02-2015

@Anonymous wrote:
Thanks. I think thats what I'll do. I'll just soak drawer this card til the 1yr mark and close it out. Thanks

Make sure to set a reminder Don't want to get stuck paying more fee's