Credit cards not part of bankruptcy

[downwardspiral]

I had a few credit cards with zero balances, Home Depot and Lowes for example.

I called Home Depot and requested my credit card info and it said I had a zero balance and 6k in available credit. When I called Lowes they said I had no available credit and a zero balance. I guess Lowes cut me off.

Do you think my Home Depot credit card survived, or is it just a matter of time before they cancel it too?

[ansky0007]

I had a few credit cards with zero balances, Home Depot and Lowes for example.

I called Home Depot and requested my credit card info and it said I had a zero balance and 6k in available credit. When I called Lowes they said I had no available credit and a zero balance. I guess Lowes cut me off.

Do you think my Home Depot credit card survived, or is it just a matter of time before they cancel it too?

Depends if they check your credit report soon... Many companies pull your report every few months to see if your credit worthyness has changed. When they do and see the BK on your file they can cancel it. I had heard of a few people that escaped with a few accounts that did not get closed so let it sit and see what happens over time.

[magyar123]

Eventually Home Depot will cut yours too. Their credit card portfolio is run by/through Citibank.

[santadawg]

I was always wondering what happens if you charge on those zero balance cards as soon as you get discharged, if they would survive that way. Just curious-------------

[FloridaGuy]

I actually got letters from two companies on cards which had zero balances (Best buy was one I recall) Used occassionally, but not carried a balance in a while.

Both were closed due to the BK filing.

Oh Well.

[AngelinaCatHub]

YES! it happens. I had two cards I intended to pay. I even charged on both of them after I filed. I went to Lowes to pay my bill, and also Radio shack. Both accounts were either closed or nonexistant. Both are by Citi, so they lose. I gained as I attempted to pay. 'Hub

[downwardspiral]

Just wanted to update here. It's been over 2 months and my Home Depot card is still open and I got a credit increase. They raised it from 6k to 7500!

I also a Discover with a $5000 limit and a Mastercard with a 10k that had zero balances and are still open.

Do you think I'm in the clear here, or is there still a chance they will close out?

[ansky0007]

Just wanted to update here. It's been over 2 months and my Home Depot card is still open and I got a credit increase. They raised it from 6k to 7500!

I also a Discover with a $5000 limit and a Mastercard with a 10k that had zero balances and are still open.

Do you think I'm in the clear here, or is there still a chance they will close out?

Have you checked your credit recently? I wonder if the courts did not put the BK public record on there. At this point I think you might have survived with them... How it happened is beyond me. I would not make any large charges where they might pull your credit report to update your history.

[mgmadara]

I went to Lowes to pay my bill, and also Radio shack. Both accounts were either closed or nonexistant. Both are by Citi, so they lose.

This is incorrect. Lowe's is not backed by Citibank it is backed by GEMB. Our Lowe's card had a zero balance and survived our bankruptcy, but we didn't have any other debt discharged from GEMB. We have also had that card for many years and our available credit was (and still is) $7500. We have used it on numerous occasions since discharge and have always paid the balance off every month. It is not likely that cards with zero balances will survive a bankruptcy but sometimes it does happen.

[Flamingo]

Don't get your hopes up too high about zero balance cards surviving bankruptcy. They may for a while but can get cancelled later. I had a Dress Barn charge that survived and stayed open for over 6 years and they cancelled it due to the BK on my credit report - I have written a letter to them recently enclosing proof of how long I had it and they even raised the credit limit twice over that period of time. Nothing is guaranteed with a BK on your record and a creditor can close an account at anytime for any reason - stated right in the paperwork you sign.

[FLBK7]

Don't get your hopes up too high about zero balance cards surviving bankruptcy. They may for a while but can get cancelled later. I had a Dress Barn charge that survived and stayed open for over 6 years and they cancelled it due to the BK on my credit report - I have written a letter to them recently enclosing proof of how long I had it and they even raised the credit limit twice over that period of time. Nothing is guaranteed with a BK on your record and a creditor can close an account at anytime for any reason - stated right in the paperwork you sign.

Very true. And with the dismal economic situation creditors are tightening their credit worthiness criteria more and more.

[downwardspiral]

Don't get your hopes up too high about zero balance cards surviving bankruptcy. They may for a while but can get cancelled later. I had a Dress Barn charge that survived and stayed open for over 6 years and they cancelled it due to the BK on my credit report - I have written a letter to them recently enclosing proof of how long I had it and they even raised the credit limit twice over that period of time. Nothing is guaranteed with a BK on your record and a creditor can close an account at anytime for any reason - stated right in the paperwork you sign.

Wow, they canceled your card six years after your bankruptcy? THat's horrible!

[Flamingo]

Wow, they canceled your card six years after your bankruptcy? THat's horrible!

Absolutely true and it was used pristinely during that time. It had a zero balance when cancelled. I was told by customer service the reason it was cancelled was due to the BK on my records and I could not hold back the laughter...Do not take anything credit-wise for granted following a bankruptcy - what occurred here with me as to that card is proof positive that a BK on your records is just that - a BK on your records greatly affecting your credit.

[Never_Again]

I can think of worse things happening than having a credit card canceled, especially one that I didn't use all that often, so it is not exactly horrible.

[Flamingo]

I can think of worse things happening than having a credit card canceled, especially one that I didn't use all that often, so it is not exactly horrible.

What's good about it is if it does stay open, it does help with your credit if you handle it responsibly and use it now and then and pay it off. However, as you can see from my previous posting, there is no guarantee it will remain open during the period a BK is on one's record even if you handle it well and are responsible.