Wow

[jack81]

I was discharged and just noticed that an account that I had with Chase is still active and my credit limit is $5,000. This is an old account that had a zero balance but I use to use it and pay it off each month. Even though it's a 0 balance they are still granting me $5,000 credit. They are mailing me a new card. Is this normal? So after BK and discharge I have a big credit limit. I'm not going to use it but am shocked.

[mtbc]

It's only a month after I filed, but another lender (not Chase) were on my creditor matrix, and my card with them with a zero balance is still showing the full amount of available credit. I suppose we'll see what happens...

(It was listed because we have another card with the same company.)

I'm a co-signer for a Chase Line of Credit for somebody so I'd listed that, and them, on the creditor matrix too, and apparently they've heard nothing from Chase about that. I was worried their LoC would get yanked.

[Michigan1951]

Down with cc companies

I'd use it wisely or not at all. Yicks. CC debt has left a nasty taste in my mouth, but the only thing I can see how this could help you is building your credit scores back up.
Frankly, my dear, I don't give a bleep about cc cards or a credit score, anymore. I am holding on to the secured debt, but dumped the cc debt forever. Nothing more that I need, and I definitely do not WANT things so badly that I have to charge them. I have learned, and it is signed, sealed and delivered in the deepest part of my brain to remember to walk away from the cc companies should they try to entice or dangle their tempting credit lines to me ever again.

[AngelinaCatHub]

I'd use it wisely or not at all. Yicks. CC debt has left a nasty taste in my mouth, but the only thing I can see how this could help you is building your credit scores back up.
Frankly, my dear, I don't give a bleep about cc cards or a credit score, anymore. I am holding on to the secured debt, but dumped the cc debt forever. Nothing more that I need, and I definitely do not WANT things so badly that I have to charge them. I have learned, and it is signed, sealed and delivered in the deepest part of my brain to remember to walk away from the cc companies should they try to entice or dangle their tempting credit lines to me ever again.

Right on, and I second that thought. I shall never sell my soul to another. "Live Free or Die". 'Hub

[backtoschool]

Sometimes it takes a couple of months after filing for accounts to close, but most creditors will close your accounts once you file for bankruptcy. I would not count on that line of credit staying open just yet.

[momisery]

I have a macy card that I can still use too. I did use it and plan to pay the small balance off over about three months and have the money put aside. We did not go down over CC debt, I did use them for necessities in the past but our problem was medical that you have no control over, and a job loss again no control over that. I do think most people were not in over their heads until they lost their jobs or a disaster happended to them, and there is no way to keep that from happening. Even not using CC's you can lose it all again with medical debt, or something else. Hubby wants our credit built back up, so I am working on it with small steps. But I intend to save the money first and hide it so I can pay it back.

[mtbc]

Yeah, I just wrote checks this month for another $500 of medical. I know just what you mean. ): Credit cards I was the sole name on, I never ran high balances on.

[Gracious]

Michigan1951 is right on

I'd use it wisely or not at all. Yicks. CC debt has left a nasty taste in my mouth, but the only thing I can see how this could help you is building your credit scores back up.
Frankly, my dear, I don't give a bleep about cc cards or a credit score, anymore. I am holding on to the secured debt, but dumped the cc debt forever. Nothing more that I need, and I definitely do not WANT things so badly that I have to charge them. I have learned, and it is signed, sealed and delivered in the deepest part of my brain to remember to walk away from the cc companies should they try to entice or dangle their tempting credit lines to me ever again.

I sure do agree with you. I will never use credit cards again. I have learned not to trust the banks since they enticed me to indebt myself at low, low rates and then for no good reason jacked my rates and % of balance owed from 2% to 5%. My fault for sure but it will never happen again. Back to my Yoga for control, discipline and relaxing.

[HGolightly]

My cards - even the ones I had zero balance on and had paid faithfully each month - including a card I co-signed for my daughter and was paid off - were cancelled a week after I filed Chapter 7.

I could give a good *bleep*. I will NEVER use a credit card again. It's a trap and I am an easy victim... Cash on the barrel head for me!

[Chowder]

I was discharged and just noticed that an account that I had with Chase is still active and my credit limit is $5,000. This is an old account that had a zero balance but I use to use it and pay it off each month. Even though it's a 0 balance they are still granting me $5,000 credit. They are mailing me a new card. Is this normal? So after BK and discharge I have a big credit limit. I'm not going to use it but am shocked.

After discharge and close last Nov, I pulled all three CRs, and was very surprised to see how many accounts I had forgotten about. There were more still open and showing in good standing, than I discharged. All had zero balances with limits of 500 to 5000, and so far, all work.

[mtbc]

jacked my rates

Assuming my present job-hunting goes fairly well, I'll actually still pay off a couple of cards even if discharged and the accounts are closed -- the ones I thought that were fair to me in not jacking up my rates. It's just nice to have the stay so that they can't hassle me to do it on their terms (and I sure won't do anything they could consider a reaffirmation). The ones that did raise APR to 30% or more, I feel no moral responsibility to. Partly I went chapter 7 instead of 13 so that, once discharged, I was free to "prefer" some creditors over others -- the ones who hadn't already tried to screw me over somehow.

[OhioFiler]

I have a macy card that I can still use too. I did use it and plan to pay the small balance off over about three months and have the money put aside. We did not go down over CC debt, I did use them for necessities in the past but our problem was medical that you have no control over, and a job loss again no control over that. I do think most people were not in over their heads until they lost their jobs or a disaster happended to them, and there is no way to keep that from happening. Even not using CC's you can lose it all again with medical debt, or something else. Hubby wants our credit built back up, so I am working on it with small steps. But I intend to save the money first and hide it so I can pay it back.

This sounds like a disaster waiting to happen. Rationalizing the use of credit post-bk can be a fool's game. Good luck to you.

[bktek]

Yeah, credit card companies are angels, aren't they? Cap One sued me a few months before I filed CH7, and garnished my bank account for every penny in it. They had neglected to serve me, however, and had to return the money. I subsequently filed and was just discharged on 01/22/2010. That very same day, I received two offers from Cap One for new credit cards. The interest rate was 26%. There was a $65 opening fee and a $65 annual fee. Aren't they just the sweetest people? As soon as I could stop laughing, I filed their applications in the round file.

[jack81]

well i called the credit card company and cancelled the card. it was at 15.9% for purchases and they immediately said we can drop the rate to 0% when I made the request to close the accoint. When I insisted on closing the account and advising them that I filed and was discharged from BK, they said that the BK will not affect your account status and will remain open!!! When i told her I understand, however, i don't want the account open, the representative put me on hold and came back and stated the we can bump your credit limit from $5000 to $10,000 with 0% for 1 year. I insisted on closing the account and after a hudge headache I had to talk to a manager that finally went through with my request. I knew it was just too soon for me to have that credit available and didn't want to pick up old habbits as I have been living on cash, budgeting expenses, etc for the past year now.

[Chowder]

Good for you jack81. It's kinda like Chandler and Ross trying to quite the gym.