A strange question

[TRfromillino]

My attorney pulled my credit report for me and I never really got to see it. So the other day I pulled my own from Experian just to see what all was there. Wayyy down at the bottom of the list was a cap 1 card from 2001 still listed and active. ?? Well, I certainly didn't know that, do not have a card for it and I remember getting a statement from them like once a year that I thought was strange. (It has a zero balance) I thought I had closed that card eons ago. Hopefully this doesn't need to be added, since it hasn't had a balance in forever.

But one other thought occured to me at the same time. Once my bk is discharged, would this account be worth getting a new card for to help rebuild my credit? It has a low limit on it (700) and would be perfect for me to put gas on it once a month and pay it off. Or would that just red flag Cap 1 and make them wonder why I'm asking for a new card after so long? Just a thought.

[AngelinaCat]

This is not a big deal. And I would leave it alone.

I had a Sam's Club membership card that I had not used since January 2004. We filed in December 2007. A Ramesh Singh, or similar spelling, filed a claim on our case to be kept notified of events during the BK. When we called the company and asked what this was about, we learned that my Sam's card had a line of credit attached to it. It was never used as a credit card--only to get us into the door of Sam's. Once we explained that and the fact it had not been used to get in the door of Sam's since 2004, this person filed papers to be taken off of our case, and that was the end of that.

Now if you want to try to use this card for gas purchases, etc., it likely won't do you any good. Once the paper titled, 'A Suggestion of Bankruptcy' goes out to your creditors, that card will most likely be cancelled.

[Pjmax]

I have had an old Cap 1 card on my reports. I closed it in 1996, I think. It just stays on there, says open $1500 credit line, inactive. I've been told it's best to leave it because it adds to credit card age.
The listing survived my BK, but in the process of correcting other errors on my reports, it dropped off 2 of them.

TR, I suggest getting copies of all 3 reports (it's really best to do so before filing) so you have something to compare after discharge.

[TRfromillino]

Oh well, that's too bad. Thought it could be a tool to use after discharge. I never closed it, just never used it, assumed it was closed from inactivity years ago. But it's reporting as open and current. Plus I don't see it anywhere on my matrix that sent out the bk notices. Like I said, it was just a thought.

[tobee43]

we have a ton and i mean at least a dozen open and current accounts on our report that we don't have anymore. i have tried numerous attempts to get them off, usually when i have disputed something it was resolved, but it's like one of these companies that has about 25 stores connected to them. so i can't get them off and it looks like we have (according to credit karma) that we have over 50k open credit available which is hurting our scores.

i have such a long list of things to do that i haven't really pushed this issue to get it resolved, but i'm getting there. but like you TR, i just thought they would just drop off.

[AngelinaCat]

Hi TR: Yes, you have to consider that once you file, ALL accounts will be closed.

Here is what happened to us: About one week after we filed BK--(end of December and first of year, etc.)--'Hub went to RadioShack and opened a new account. The amount was not very much, but it was understood that this was AFTER filing, so it was new debt. The same happened with Lowes. We fully intended to pay those charges in full, and had the money in the bank to do so. However, when we went to the stores with cash in hand, they had no record at all of any transaction with us. We had the receipts with us showing our small purchases. Nope! Nothing, nada.

We found out later that the two CCs we had discharged against--the parent company also owned RS and Lowes, and when the parent got the 'Suggestion of Bankruptcy' notice, they wiped any account in our names. Even though these two were opened after we filed, and fully understood that they were 'New Debt'. Oh well...

[Pjmax]

TR, it's very likely you can get another one not too long after discharge. That good record with them, whether it closes or not, may help. I was discharged the end of Nov. 2012. End of Jan. 2013, I was approved for an unsecured Cap1 MC and just received my new Cap1 Rewards card. There is credit life again after BK.