Question about pre-approved cc offer...

[Ticktrace]

Hi, Any input here would be appreciated. I'm about 45 days past 341 chapter 7 no asset case. I received offer from Credit One Bank for Visa card says I'm pre-approved. Don't wan't to get back into credit cards but currently have no money to cover emergency car repair,still on unemployment. Is it ok to apply for these type of cards now or should I wait for discharge?? Thanks in advance.

[Meatstick]

Big mistake. If your un-employed how do you figure you meet income reqirements to pay said credit card debt back ? If I were you I would shred it and not even think about obtaining any form of credit until your back working.

[AngelinaCatHub]

Big mistake. If your un-employed how do you figure you meet income reqirements to pay said credit card debt back ? If I were you I would shred it and not even think about obtaining any form of credit until your back working.

You got that in spades from me. What are you doing bankrupting then thinking you need to fix your car on credit? Have you heard of saving an emergency fund? Are we going to see you back here in eight years?

I'm sorry but I'm the least to judge anyone but for God's sake you don't need anymore credit. We are free of credit and to date have had four emergency car repairs being a $700 oil pan hit and broken on the road, etc. All paid by cash in a fund just for that. You don't have a job? Forget it. Walk.

[jadams]

What are you doing bankrupting then thinking you need to fix your car on credit? Have you heard of saving an emergency fund?

We are free of credit and to date have had four emergency car repairs
...
All paid by cash in a fund just for that

Because those unemployment checks are just so generous they allow for immediate development of a large emergency fund just a few weeks after filing bankruptcy?

I agree it's a terrible idea and another way should be found.

But your attitude stinks. They're unemployed, fresh from filing, and couldn't have had time or salary enough to develop anything but the most minimal emergency fund.

Chastising them for not having done something they couldn't have done yet isn't helpful. If they were 6, 8, 12, etc. months from filing and had no emergency fund -- chastise away. But you've piling on someone that probably already feels like crap, for not having done something that's unrealistic.

The helpful information in your post could be easily missed -- reconsider the importance of immediately fixing the car and walk until you can afford to fix it. Easy availability of credit can make some things appear that you don't have a choice (need to fix the car for job interviews, grocery shopping, etc.) when no credit would force you to find alternatives (rides with friends, walking, etc.)

[AngelinaCatHub]

Jadams: I see your point, but see mine also. Not even out of bk and already intending to spend on credit. We have been on both sides of this fence. Very rich and VERY poor to the point of picking up cans.

There are times if you have ever raised children, that you need to whap them with a rude awakening. Those so called pre approved cards are fraud and you do know that.

My intent is never to hurt our fellows. What I said I meant. It is damn foolish to consider any credit now. Not only that, by law, the OP must ask permission to go into debt. Is it done, probably not very much.

The worse thing that person could do as a newbie not quite out of bk is to Eff it up with new credit. THAT is what got us ALL here.

If I were curt to this person, it was on purpose. It got your attention and it is meant to get his. That is NOT the right way. Let us say he needed a $300 emergency repair. Now, new debt. Now he is unemployed. First payment due. Those cards mostly are not free and on the first payment you get billed for a year worth of use so first payment lets say is 10% not counting the yearly charge. that would be about 20 bucks out of whatever unemployment compensation he gets.

You got me wrong on the shock aspect. That is the worse thing he could do is go into credit again. He has no out of that. He would pay dearly.

Put 10 bucks away against an emergency, then will power is implemented not to go after that money for pleasure. In ten weeks it is 100 dollars and continue from there. If the person cannot dip into that fund, then the lesson is learned. If he does, then there is no hope.

I've been there and I do know what I speak. It is damn difficult to do. But if done it is called success. The slippery slope is "easy (pre approved) credit". It is down hill from there.

I do not withdraw what I stated. It is in love and respect. It is 'tough love' true. But I am not an ogre but I want this person to succeed. 'Hub

[jacko]

Amen. Why would you declare BK while unemployed to begin with? All sorts of things could happen, like unforeseen medical bills and unexpected bills.[

As longs as I am collection proof, not filing.

QUOTE=AngelinaCatHub;413102]Jadams: I see your point, but see mine also. Not even out of bk and already intending to spend on credit. We have been on both sides of this fence. Very rich and VERY poor to the point of picking up cans.

There are times if you have ever raised children, that you need to whap them with a rude awakening. Those so called pre approved cards are fraud and you do know that.

My intent is never to hurt our fellows. What I said I meant. It is damn foolish to consider any credit now. Not only that, by law, the OP must ask permission to go into debt. Is it done, probably not very much.

The worse thing that person could do as a newbie not quite out of bk is to Eff it up with new credit. THAT is what got us ALL here.

If I were curt to this person, it was on purpose. It got your attention and it is meant to get his. That is NOT the right way. Let us say he needed a $300 emergency repair. Now, new debt. Now he is unemployed. First payment due. Those cards mostly are not free and on the first payment you get billed for a year worth of use so first payment lets say is 10% not counting the yearly charge. that would be about 20 bucks out of whatever unemployment compensation he gets.

You got me wrong on the shock aspect. That is the worse thing he could do is go into credit again. He has no out of that. He would pay dearly.

Put 10 bucks away against an emergency, then will power is implemented not to go after that money for pleasure. In ten weeks it is 100 dollars and continue from there. If the person cannot dip into that fund, then the lesson is learned. If he does, then there is no hope.

I've been there and I do know what I speak. It is damn difficult to do. But if done it is called success. The slippery slope is "easy (pre approved) credit". It is down hill from there.

I do not withdraw what I stated. It is in love and respect. It is 'tough love' true. But I am not an ogre but I want this person to succeed. 'Hub[/QUOTE]

[Ticktrace]

Whoa.....

Thanks jadams. Wasn't looking to get attacked here just some input on card for emergency use while I get back on my feet. I've enjoyed this forum so far and appreciate the help I've gotten and others too. Yeah getting ripped on right now sucks, especially from somebody here. I didn't think it was that far out of the realm for emergency use only but your points are taken......and yes, if I can be back here in eight years debt free to help others you bet I will be.

[AngelinaCatHub]

Thanks jadams. Wasn't looking to get attacked here just some input on card for emergency use while I get back on my feet. I've enjoyed this forum so far and appreciate the help I've gotten and others too. Yeah getting ripped on right now sucks, especially from somebody here. I didn't think it was that far out of the realm for emergency use only but your points are taken......and yes, if I can be back here in eight years debt free to help others you bet I will be.

Ticktrace, I am here for you. I mean absolutely no malice. I was the most ignorant of bkers and lost about 10.5K unnecessarily, out of ignorance.

I am attempting to explain to you that this is not the way. Did I get your attention? Yes, I did. Not meaning to be hurtful. Not at all. I love you in God. I know what I did wrong now. I know a bit about what those 'bait cards' are.

If you go to my profile you may see that I am not malevolent, or a smart @$$.

I saw a person who was about to be sucked in on a common ploy that would cost you dearly. Understand we were once worth 10 mil, and we are in your same life boat now. However with age come some wisdom and with this forum comes much. I'm truly on your side.

You got the message or you would not have posted so what I did worked. NOW, did you understand the message? This I would like to know.

Mrs. is on UC. She has a Masters degree, and all kinds of certificates. Cannot find a job. I have 40 years of computer hardware, applications and a teaching degree. No jobs, but I have age and ill health too.

YOU have the whole World before you, and for a car, could cause yourself such grief and if you buy that card or any credit at this time, could jeopardize yourself.

Out of UC, ten aside. You won't miss it unless you "pine" over the extra. There is a test in this. It is called "responsibility and self control". I speak as a parent. I don't even know you or your age. I know your condition.

Forgive me for hurt feelings. It was not meant that way. Only to get your attention and it has. 'Hub

[GettingGoing]

Amen. Why would you declare BK while unemployed to begin with? All sorts of things could happen, like unforeseen medical bills and unexpected bills.[

As longs as I am collection proof, not filing.

QUOTE=AngelinaCatHub;413102]Jadams: I see your point, but see mine also. Not even out of bk and already intending to spend on credit. We have been on both sides of this fence. Very rich and VERY poor to the point of picking up cans.

There are times if you have ever raised children, that you need to whap them with a rude awakening. Those so called pre approved cards are fraud and you do know that.

My intent is never to hurt our fellows. What I said I meant. It is damn foolish to consider any credit now. Not only that, by law, the OP must ask permission to go into debt. Is it done, probably not very much.

The worse thing that person could do as a newbie not quite out of bk is to Eff it up with new credit. THAT is what got us ALL here.

If I were curt to this person, it was on purpose. It got your attention and it is meant to get his. That is NOT the right way. Let us say he needed a $300 emergency repair. Now, new debt. Now he is unemployed. First payment due. Those cards mostly are not free and on the first payment you get billed for a year worth of use so first payment lets say is 10% not counting the yearly charge. that would be about 20 bucks out of whatever unemployment compensation he gets.

You got me wrong on the shock aspect. That is the worse thing he could do is go into credit again. He has no out of that. He would pay dearly.

Put 10 bucks away against an emergency, then will power is implemented not to go after that money for pleasure. In ten weeks it is 100 dollars and continue from there. If the person cannot dip into that fund, then the lesson is learned. If he does, then there is no hope.

I've been there and I do know what I speak. It is damn difficult to do. But if done it is called success. The slippery slope is "easy (pre approved) credit". It is down hill from there.

I do not withdraw what I stated. It is in love and respect. It is 'tough love' true. But I am not an ogre but I want this person to succeed. 'Hub

[/QUOTE]



While I agree with everyone against using credit a few weeks after filing bk I must tell you that there are many reasons to file bk while unemployed. I was laid off from a job of 12 years in January and am on unemployment but I have a working spouse with wages that were starting to be garnisheed so we really hod no choice other than to file.

[bkinparadise]

It has been three months since I've used my last credit card and I feel GREAT! I hated the dependency and bankruptcy has truly been a blessing of sorts. I am now working toward removing the stress I've had for years. Sure, it's hard to not have credit cards to fall back on but I am now beginning to save for what I need and a few things I want. I've been budgeting and making ends meet. I've learned a lot and one major lesson was that I am not good with credit cards, PERIOD. Debit cards and cash will be my only way in dealing with paying and finances. I almost lost my family because of my indiscretions with spending and credit and I don't want to go down that road again with debt.

So to the OP, if you can't afford it do without for a while until you have cash to pay for it. It is hard to do but you will find a way. Good luck.

[bobbyquefour]

Run from all such offers such as this as though they were the Bubonic plague...you will only regret it and pay later for the decision...........I know you are struggling right now, but yet another CC is not the answer....
Bobby

[SMinGA]

The 'preapproval' card offers you'll get right now really should be avoided. Beyond the other things already mentioned, did you check out the fees? Many have account activation fees, annual fees, monthly maintenance fees. You would not be taking on new credit - but a new monthly bill without even using the card.