Credit Card to save

[late49er]

Hello Everyone,

I am about ready to get in serious financial trouble because of a job loss and medical expenses. I was thinking about getting a secured credit card with about a $500 limit. Then I realized I have a boa credit card with a 500 limit that I have not used and does anyone know if they will not cancel the card as long as I keep it paid.


Thanks

[LadyInTheRed]

I assume you are planning to file bankruptcy? Most credit cards get cancelled when you file BK. Some people report having cards survive BK. But, don't count on it.

What do you hope to accomplish with a credit card?

[late49er]

Hello Lady,

Thanks for the quick response. I thought it might be a good idea to keep it in case I need to rent a car or maybe pay for a motel room.

[LadyInTheRed]

You may have to rely on a debit card for those items. You will just have to have enough on deposit to cover whatever hold amount the motel or rental car agency requires. Call the rental car office you will be renting from to find out if they will accept a debit card and what additional documentation they will require. I know that Enterprise will rent with a debit card.