Hmmm After reading this Rebuilding Credit....

[postie]

...How come if you plan or had BK7 with CapOne (I have 1 CapOne card that I will file BK7 in a week or so) that they will gladly issue you a new card!?!? I mean am I missing something here????

Yes, I plan to rebuild my credit as soon as it's discharged (hopefully in June). So far everything points back to CapOne as best way to get secured OR unsecured card!!!!!

Your thoughts?

[sbatman]

I received a CapOne card with a $750 credit line for $19 a year one month after the close of my Chap7. They said the limit would never increase. Well, now my limit is $3750. I use it only for Netflix and paid off every month. I have several cards, NFCU, a couple of others, but my prized one is the US Airways M/C. I got 50K miles on opening it and was able to get a flight with one of those beds and first class to from AZ to UK for only100K miles.

But Citibank, the issuer of the merged US Airways and American Airways denied my app because I bk'd them about $10K. Not that I blame them. AMEX also denied my app for the same reason.

But, you better pay them off every month. If you can't control yourself, you'll end up in the same place you are getting out of.

I have enough credit now. No car payments, no house payments,I don't need credit for either anytime soon. I just wanted better credit rating for cheaper premiums on my home and auto insurance. My cars are a Subaru and a Honda and the both won't need replacing any time soon. We are planning to go down to one car if either car dies, anyway.

[AngelinaCat]

The reason you are approved for new CCs so soon after being discharged is that they KNOW cannot file another BK for at least eight years after your initial filing. So they are hoping you get caught up in the CC trap again. It's something like getting tangled up with the payday loan monsters.

You may be able to file Chapter 13--if you should need to file again--but the timing can be tricky. Below is a link to an article about multiple filings from nolo.com:

http://www.nolo.com/legal-encyclopedia/multiple-bankruptcy-filings-when-file-again.html

[postie]

As I said in my other posts, I don't intend to use CC to incur debt as my ex-wife did! I only need it to rebuild my credit for future home buying purpose as well as auto loan in case I need it but my priority is to save cash as much as I can after my BK7 is discharged.