unused credit cards

[okiemom2008]

My husband and I have a few credit cards that we used in the past but they have not been used in a year plus. Mostly store cards

Since we will not be discharging these cards in the bk in March09 can we keep the cards and the good payment history on them?

I am already thinking of ways to re-build our credit and having a couple of cards that we can charge a bit on each month and pay off each month to build credit will help. Just making sure this is how it works.

Thanks

[relief13035]

Well hate to burst your bubble but, I have a credit card that I haven't used in 2 years (a dept. store), it has a ZERO balance. Once I filed, even though I didn't list them, they found out and I received a letter that they had closed the account. I have heard that sometimes cards make it through the BK.

[okiemom2008]

Well hate to burst your bubble but, I have a credit card that I haven't used in 2 years (a dept. store), it has a ZERO balance. Once I filed, even though I didn't list them, they found out and I received a letter that they had closed the account. I have heard that sometimes cards make it through the BK.

Can I ask which store?
The ones I am wanting to keep open are Sears and Walmart and then we have a couple of capital one cards that we are not including in the bk

[relief13035]

It was Old Navy. I don't know if you have that store where you live, but it is very popular in California. I am hoping our Sears makes it through. We have a zero balance on Sears also. Sears is good to have "just in case". Like if your refrig. or washer goes out. Thankfully, I didn't abuse Sears like I did Target. I still can't figure out how I spent so much at Target.

[albacore44]

It was Old Navy. I don't know if you have that store where you live, but it is very popular in California. I am hoping our Sears makes it through. We have a zero balance on Sears also. Sears is good to have "just in case". Like if your refrig. or washer goes out. Thankfully, I didn't abuse Sears like I did Target. I still can't figure out how I spent so much at Target.

There is a lot of consolidation going on in the CC industry. Seems like GE capital is buying up a lot of retail card portfolios. They bought both my Mervyns, J.C Penney, and Chevron accounts. also received a letter from Citi that they were buying Macy's and they would be sending me a Visa soon. just what I need............another card.

[MNBK7guy]

I had a Sears card with a zero balance that I didnt list on my matrix. Sears found out about the bankruptcy within about 30 days and cancelled my card with my giant 250 dollar limit that I have had since 1996 and never been late on. Oh well.

[Nicollette]

Thankfully, I didn't abuse Sears like I did Target. I still can't figure out how I spent so much at Target.

I did the same thing with my Target card.

[okiemom2008]

I had a Sears card with a zero balance that I didnt list on my matrix. Sears found out about the bankruptcy within about 30 days and cancelled my card with my giant 250 dollar limit that I have had since 1996 and never been late on. Oh well.

I think my limit is like 500. And I hardly ever used it and paid it off. I was hoping it would make it through due to the good history but it looks like probably not

[okiemom2008]

I did the same thing with my Target card.

I could not have a target card. That place is so easy to spend a ton of money when you just go in to buy toothpaste!!

[Mark80]

Same thing here, my Target card got filed with 7k on it and I only had it a little over a year. How I did that I will never know! I hope to never have a credit card again!

In any event I had a providian and capital one, and they both were in good standing with zero balances. Both closed on me and I haven't even gotten to my court date yet.

I think however for a nasty fee there are some places after filing that will allow you to get a low balance card. Some people have been doing that to help rebuild credit. I would think your mortgage and autos will help also if kept current?

[estreeter34]

It looks like my Macy's card made it through the bk...
What if i go and charge say $50 and they close the account. I would jusst owe them the balance, right?
My thoughts are to charge $50 and then immediately pay in full. Maybe it will stay open and show up on my credit reports as a good account to start improving my score... Any thoughts?

[okiemom2008]

It looks like my Macy's card made it through the bk...
What if i go and charge say $50 and they close the account. I would jusst owe them the balance, right?
My thoughts are to charge $50 and then immediately pay in full. Maybe it will stay open and show up on my credit reports as a good account to start improving my score... Any thoughts?

I was thinking the same thing...I want to keep my walmart card. I thought about charging something on it and then paying the minimum so they cannot close it(or can they?) Then I will have a card to rebuild my credit

[Flamingo]

My husband and I have a few credit cards that we used in the past but they have not been used in a year plus. Mostly store cards

Since we will not be discharging these cards in the bk in March09 can we keep the cards and the good payment history on them?

I am already thinking of ways to re-build our credit and having a couple of cards that we can charge a bit on each month and pay off each month to build credit will help. Just making sure this is how it works.

Thanks

It is possible for zero balance credit cards to survive bankruptcy although the majority get closed as soon as the creditor gets wind (usually by checking your credit report for an update or credit line increase). Also if you have a card with a zero balance and you file on another card tied to the same bank as your zero balance card, you can probably kiss the zero balance card goodbye. However, some do survive. I had two survive my 4/02 filing but I recently made a posting on here that after almost 7 years from the date of filing, I found out they closed the card recently due to "bankruptcy on my record" according to customer service. I used the card periodically during my Plan and for over a year after discharge. I did not use it for over a year and went to use it and found out it was closed. So be advised that if they want to, they can cancel a credit card for any reason whatsoever at any time. So one of your cards may survive and make it through for years; or it can get cancelled immediately or several years down the road after your discharge. A BK on your reports makes you a higher risk and right now banks are avoiding any risk like the black plague.

[estreeter34]

Well, I was able to use the Macy's card. I made a small purchase and plan to pay it in full this week at a local store. I am hoping to do this monthly for a few months and if it stays open i figure it will help the credit score a little and with me, the wife, and 4 kids someone always needs clothing or something. I will try to keep this updated.

[jessegirl]

I had a zero balance on sears and a few smaller stores. I never received a letter saying they were closing them but when I went online to see they were closed. It better anyway. This will be the first Christmas that is totally cash and IT FEELS GREAT........