Secure Credit Card

[crazytimes]

Hi All,

I know this has gone around many times and I keep reading of people wanting to get a secured card or keep an old credit card. I have a year and a half left and have no credit cards but was thinking of a secure card at one time but not now. I keep reading that it depends how the BK was written and if the trustee allows it. My question is how would the trustee know? Does the trustee ask for bank statements or run credit reports (which would require permission). I’m laying as low as possible and had no issues to date but just wondering how the trustee finds out if someone got a credit card or even a car for that matter. I don’t think I will get anything until the discharge just to be safe. Sorry just a curious question.

thanks.

[shipo]

In many cases, the lender will see from your credit report you are in an active Chapter 13 and will ask for a letter of approval from the Trustee. As you've noted, it pretty much depends upon the rules of your jurisdiction and how your plan is structured.

In my case I tried to slip a secured card in under the radar from CapitalOne and they requested a letter from my Trustee.

[crazytimes]

In many cases, the lender will see from your credit report you are in an active Chapter 13 and will ask for a letter of approval from the Trustee. As you've noted, it pretty much depends upon the rules of your jurisdiction and how your plan is structured.

In my case I tried to slip a secured card in under the radar from CapitalOne and they requested a letter from my Trustee.

Did not know a lender would want that for a credit card. I know for a car the bank would want trustee approval but if you got the credit card without the required letter how would the trustee know?

[shipo]

Did not know a lender would want that for a credit card. I know for a car the bank would want trustee approval but if you got the credit card without the required letter how would the trustee know?

My point was, getting the card without the letter is difficult, if not impossible.