Why do people think they need to establish credit right after bankruptcy?

[ccsjoe]

Enough of this thread, it's driving me nuts and it's got no useful place here.

I totally agree with B2S...and note that I don't normally post here since I am not post-bk. We all know there are some people on this board who are beyond hell-bent against credit. And that is their prerogative. Nothing wrong with that.

I, like many others, am reading this board to start increasing my knowledge in order to rebuild my credit post-bk and move on with my life, and yes, that involves managing credit facilities. And I'm thankful to those who have gone before me who are contributing their experiences for me and others to learn.

What I don't understand and don't agree with is people here, in a post-bk credit building board, being negatively judgemental towards others--who ALL have gone through bk--and attempting to cram their quasi-pious righteousness into everyone's head because in their opinion it is the better way. What ever happened to freedom of choice?

As B2S said, please stay away from credit rebuilding if you have nothing constructive to contribute and find where on the forum you can make positive contributions.

Thank you

[ironpirate]

Wow, this turned into a drama thread. Just don't keep opening a bunch of credit cards because that is worse thing you could do. I have a mortgage and car payment and thats all the credit I need. I want everybody to improve their credit. I worked for a consumer finance company for over 4 years and seen many former BK customers trying to get loans. An auto account and a small credit card is all you need. Just carry a 0 balance on your credit card and be current on both them and you guys will be fine. When you see a discharged debtor have a bunch of credit after BK your reluctant to grant them credit.

[LSUTiger32]

1st, I have had credit cards for 20 years and never been late once so why would I even consider being late. I have checked the box at USAA to automatically deduct the FULL payment owed on the due date. If it's late it's the banks fault and having done business with USAA for 25 years I am confident they would take care of me.

LOL! Yeah, credit cards companies ALWAYS take care of their customers!

It's funny how critical most here are of me but really I'm just trying to show you guys how to keep more money in your pockets.

Not being crticial man, good lord I said pretty clearly that I know that you have your stuff together. My point is that $77 a month is NOT going to change your life and the first time something goes wrong, they will be sticking it to you, not HELPING you out. Not to mention that if you continually cost them $77 a month without ever paying any interest, they will likely close your account at some point. They aren't that stupid.

Anyway, we have talked via PM so no biggie. I just didn't see this reply. You obviously have your stuff together but personally I am not going to play their game for $700 a year. It's not worth it. That $700 isn't going to replace the crap they put me through when times were tough. I don't know how anyone who filed BK and dealt with credit card companies could possibly want to do business with them again. They treated me like garbage, but maybe you had some special companies that help people. I know of none. Then again, I don't know your situation with your BK so maybe you never dealt with credit card collectors.

Once again those of us with a differing opinion are trolls....and we shouldn't be allowed to express our opinion while others want to preech about freedom of choice. I think freedom of speech came first, but I will check. If you don't like my and other people of my thinking and our responses you can feel free to put me on ignore. Or, maybe you can ask the moderators to ban us for not sharing in the love of credit.

[WhoDat]

Once again those of us with a differing opinion are trolls....and we shouldn't be allowed to express our opinion while others want to preech about freedom of choice. I think freedom of speech came first, but I will check. If you don't like my and other people of my thinking and our responses you can feel free to put me on ignore. Or, maybe you can ask the moderators to ban us for not sharing in the love of credit.

From what read, I don't think anyone is calling you a troll. Understand that when you post an opinion on an internet forum, someone will always have a difference of opinion.

ironpirate,
When you post a question such as yours, expect a little emotion from folks. I assume that we all have been through the process. Some folks had a rougher time than others going through the process. It took me a few years to finally shake off some of the shame I felt, stopped feeling sorry for myself and became proactive in not only rebuilding my credit, but rebuilding my future.

I truly understand the different point of views throughout these threads. Nothing wrong with choosing not to use credit cards. For some, credit scores are not important. That is fine also, but to dismiss a credit score as a scare tactic can be disastrous for some. For my situation, a good credit score is needed. The are the typical things like auto insurance, and so on, but the big one is jobs. Yes, my last two jobs, they pulled a credit check. I'm sure my chances would not have been so good with a bk and a low credit score. I'm sure what saved me was my payment history. Let's face it, the credit score is not going away.

Like Logan, I use my credit card quite a bit. But I don't consider it a "game" as many have called it. I purchase quite a bit of gas, so 5% cash back is a benefit worth risking, like many other benefits in life. The most I ever charged on my card sine my bk was about $550. It was for tires when I was far from home. I never carry that much cash on me, and I am very paranoid when it comes to using my debit card. The bill was paid three days later. I have never carried a balance on a credit card for more than a week. I like the convenience and the security of a credit card. Maybe it is because I have never had the nightmares with credit cards as many on here had (my bk wasn't from credit card debt).

I believe that most of us, being a little wiser, know what is best for our unique situation. I'm here because I screwed up, and I want to do the right thing by learning from others, because to be quite honest with you all, after several years of doing this I still don't know if I am doing everything the right way. It seems like what is the best thing to do for your credit today can be the worst thing for it tomorrow.

[IBroke]

Not to mention that if you continually cost them $77 a month without ever paying any interest, they will likely close your account at some point. They aren't that stupid.

C'mon, Tiger, we all know that a CC-company already makes a profit the moment you slide the card through the slot at the shop-register - no matter if they collect interest or not...

[Logan]

LOL! Yeah, credit cards companies ALWAYS take care of their customers!

LSU, have you ever done business with USAA?

Yes, they will take care of me.

Logan

[WhoDat]

LSU, have you ever done business with USAA?

Yes, they will take care of me.

Logan

I have been a member with USAA since enlisted personnel became eligible to join in 1996. I can't think of a company with better customer service. Many of the products they offer are top notch. There educational webinars are also very informative.

[Amy26]

Wow.... I leave the boards for a little while and find everything has gone to pot! I am very distressed to see yet "another" bash and slash thread about wanting to fix credit. How many times is it necessary to try and throw it in people's faces? We're all adults here (I hope) and should be responsible for our own decisions. The rebuilding credit section of the forums is not for people against credit to come here and bash those that want to repair.

Yes, we (all) should hate debt and yes we should all have learned our lessons. But using credit responsibly is not only smart but a very good decision. I know lots of people here who have thought the same as some people that have posted in this thread...the filed, they discharged, they warded of credit forever and stuck to cash only. Then, low and behold, 2 years later they decide they want to buy a house or whatever and discover that their credit is still tanked in the 500's. Are there lenders that will work with you? Perhaps... will you have to jump through a million hoops? Probably. Do you want that stress? If you do... good for you. For the others, who want to make sure their scores are where they want them to be... more power to you.

Could you get into trouble again? Sure.... there is risk with anything you do in life. Even if you drive safely there is still a high risk of a drunk driver hitting you or someone reading the paper while they are behind the wheel. Yes, you can live on cash and build a savings... but where do you draw the line? Are you financially perfect if you can support yourself without a job for a month? 3 months? 6 months? 24 months? Life is uncertain... and I certainly want to do what I can to help myself in a variety of ways even if it means dealing with the evil thing we call credit.

Yes, I hate credit I think its stupid. But do I need it? Yes I do. And if you want the multitude of reasons why I do...please do a search on my name and read the various threads where we have hashed out this very topic over and over and over and over and over.

[tobee43]

Wow.... I leave the boards for a little while and find everything has gone to pot! I am very distressed to see yet "another" bash and slash thread about wanting to fix credit. How many times is it necessary to try and throw it in people's faces? We're all adults here (I hope) and should be responsible for our own decisions. The rebuilding credit section of the forums is not for people against credit to come here and bash those that want to repair.

Yes, we (all) should hate debt and yes we should all have learned our lessons. But using credit responsibly is not only smart but a very good decision. I know lots of people here who have thought the same as some people that have posted in this thread...the filed, they discharged, they warded of credit forever and stuck to cash only. Then, low and behold, 2 years later they decide they want to buy a house or whatever and discover that their credit is still tanked in the 500's. Are there lenders that will work with you? Perhaps... will you have to jump through a million hoops? Probably. Do you want that stress? If you do... good for you. For the others, who want to make sure their scores are where they want them to be... more power to you.

Could you get into trouble again? Sure.... there is risk with anything you do in life. Even if you drive safely there is still a high risk of a drunk driver hitting you or someone reading the paper while they are behind the wheel. Yes, you can live on cash and build a savings... but where do you draw the line? Are you financially perfect if you can support yourself without a job for a month? 3 months? 6 months? 24 months? Life is uncertain... and I certainly want to do what I can to help myself in a variety of ways even if it means dealing with the evil thing we call credit.

Yes, I hate credit I think its stupid. But do I need it? Yes I do. And if you want the multitude of reasons why I do...please do a search on my name and read the various threads where we have hashed out this very topic over and over and over and over and over.

amy....reading between the posts...i think what your saying is being responsible is the key here.

your correct...many on this thread...participants on this site hate credit because they feel it ruined their lives.

others...(we never mismanaged our credit or money) just ran into bad luck, illness, job loss and the credit card companies hit us hard and punished us severely like life was not hard already.

however, amy...you point is correct....this society demands that we maintain a certain score to allow us to live, drive and be "safe"...whether we agree with it or not...it's just the way it is.

i think once again...the point is...be wise...learn if you made mistakes while using credit. devise a system that works in your home when buying or making a large item purchase. THINK....learn CHESS....apply that thinking pattern to your buying methods.

[LSUTiger32]

C'mon, Tiger, we all know that a CC-company already makes a profit the moment you slide the card through the slot at the shop-register - no matter if they collect interest or not...

There are plenty of documented cases of people getting cancelled for no reason other than they were making too many "rewards." Google it. Regardless, studies show you spend 10-15% more when you use a credit card over a debit card because it doesn't hurt as much. You can keep that 2%.

[LSUTiger32]

Wow.... I leave the boards for a little while and find everything has gone to pot! I am very distressed to see yet "another" bash and slash thread about wanting to fix credit. How many times is it necessary to try and throw it in people's faces? We're all adults here (I hope) and should be responsible for our own decisions. The rebuilding credit section of the forums is not for people against credit to come here and bash those that want to repair.

Yes, we (all) should hate debt and yes we should all have learned our lessons. But using credit responsibly is not only smart but a very good decision. I know lots of people here who have thought the same as some people that have posted in this thread...the filed, they discharged, they warded of credit forever and stuck to cash only. Then, low and behold, 2 years later they decide they want to buy a house or whatever and discover that their credit is still tanked in the 500's. Are there lenders that will work with you? Perhaps... will you have to jump through a million hoops? Probably. Do you want that stress? If you do... good for you. For the others, who want to make sure their scores are where they want them to be... more power to you.

Could you get into trouble again? Sure.... there is risk with anything you do in life. Even if you drive safely there is still a high risk of a drunk driver hitting you or someone reading the paper while they are behind the wheel. Yes, you can live on cash and build a savings... but where do you draw the line? Are you financially perfect if you can support yourself without a job for a month? 3 months? 6 months? 24 months? Life is uncertain... and I certainly want to do what I can to help myself in a variety of ways even if it means dealing with the evil thing we call credit.

Yes, I hate credit I think its stupid. But do I need it? Yes I do. And if you want the multitude of reasons why I do...please do a search on my name and read the various threads where we have hashed out this very topic over and over and over and over and over.

There's always the ignore button, or you can just choose not to read and respond. Just sayin'.

[LSUTiger32]

LSU, have you ever done business with USAA?

Yes, they will take care of me.

Logan

LOL! OK, good luck with that. Never used them, never will. I am sure that if there ever comes a time where you get into trouble they will gladly write off that debt and take care of you.

[Logan]

LOL! OK, good luck with that. Never used them, never will. I am sure that if there ever comes a time where you get into trouble they will gladly write off that debt and take care of you.

Using that reasoning why doesn't Best Buy just let me walk out with a 50 inch Bravia for nothing?

USAA will take care of it's customers but they are not a charity.

Logan

[backtoschool]

Using that reasoning why doesn't Best Buy just let me walk out with a 50 inch Bravia for nothing?

USAA will take care of it's customers but they are not a charity.

Logan

I totally agree with you Logan. As long as you maintain your credit responsibly you need not fear anything. The benefits of repairing credit far outweigh the potential down falls. And USAA is a very good company.

[LSUTiger32]

Using that reasoning why doesn't Best Buy just let me walk out with a 50 inch Bravia for nothing?

USAA will take care of it's customers but they are not a charity.

Logan

So, exactly what do you mean by taking care of their customers? I mean what can really do for you? Loan you money you obviously don't need? I must be missing the point.