Anyone know when Capital One will take over Kohl's card?

[octoblonde]

I love my Kohl's card and am Bk'ing on Chase when I file. Currently, Chase administers the Kohl's store card. I've heard it may be taken over by Cap One. Does anyone know if this is true and when it's supposed to happen?

Maybe I would be able to get another Kohl's card if it's not run by Chase anymore. I could try paying off the Kohl's card before I file, but Chase will probably close the account and black list me anyway.

[LadyInTheRed]

You will probably lose all of your credit cards after you file, including the Kohl's cards even if Cap One is the creditor. It doesn't matter if you have balances on them when you file. Paying the Kohl's card off would be a waste of your money.

Why do you care anyway? Do you really want to go through a BK only to start charging on credit cards again? I'm not one of those who say you should never have a credit card again. They are useful tools when used wisely. But, learn to live without them first. IMO, there is never any reason to have a department store credit card.

[octoblonde]

Thanks for your input. Have you ever shopped at Kohl's? When you have their credit card, you get tons of discounts. They also have a no hassle return policy. They're a great company to deal with.

The reason I'd miss the card is because I use it to buy coffee K-cups for my Keurig machine at a great price, shoes and clothing for my Son and other essentials for myself that I cannot get at a better price anywhere. I doubt I'd get to keep the card, but if I did, I would not go out and charge things willy nilly. I'd use it to buy essentials and pay it off in full every month. I'd also use the Kohl's cash they give out ($10 for every $50 spent) to get things we need for free. A few years ago, I bought a Dyson vacuum for less than $200 with the Kohl's card and a 30% discount code, plus Kohl's Cash earned from the purchase. You can't beat that deal!

[LadyInTheRed]

Thanks for your input. Have you ever shopped at Kohl's? When you have their credit card, you get tons of discounts. They also have a no hassle return policy. They're a great company to deal with.

The reason I'd miss the card is because I use it to buy coffee K-cups for my Keurig machine at a great price, shoes and clothing for my Son and other essentials for myself that I cannot get at a better price anywhere. I doubt I'd get to keep the card, but if I did, I would not go out and charge things willy nilly. I'd use it to buy essentials and pay it off in full every month. I'd also use the Kohl's cash they give out ($10 for every $50 spent) to get things we need for free. A few years ago, I bought a Dyson vacuum for less than $200 with the Kohl's card and a 30% discount code, plus Kohl's Cash earned from the purchase. You can't beat that deal!

So, I guess there is a good reason to have a Kohl's card. But, even with the good deals, I still think it's better to get used to doing without the card first. Or, at least build a good cash cushion first. It's easy to say you are going to pay it off every month, but when things get tight decide to make the minimum payment with the intention of paying it off next month. Then something comes up the next month. Before you know it, you have a balance you can't pay off and those good deals disappear into interest payments. That's what they count on when giving you those great deals. Just my opinion. You know yourself best.

In any case, paying the balance in hopes of keeping the card is an expensive gamble. I've been reading this board almost daily for over a year and this topic comes up frequently. While a couple of people have said they had a card that didn't get canceled after filing, it is a rare exception to the rule.

[gmk]

I think Lady is right on target. However, I too miss the discounts offered by Kohl's when using their card and if one was offered I would gladly get one today provided it didn't cost me anything. If you pay as you go and have the discipline to do so, I see no harm. If you fall off the wagon and start running balances, then, well your heading in the wrong direction. Your Kohl's card will not survive BK (99.9999%), my zero balance one did not. In fact none of my zero balance cards did.

[iswmle]

My zero balance Victoria Secret card survived my BK. Not only that, they increased my cl about 3x after filing and discharging. Still have it, too, though I have only used it once in over two years.

[octoblonde]

iswmle, how long ago did you file? Was it Chapter 7? I also have a Victoria's Secret card and was wondering if it would survive.

[Goteki45]

The Victoria Secret folks must have an extremely liberal credit policy.

[octoblonde]

Goteki, the VS credit card is issued by WFNNB.

[Flamingo]

Thanks for your input. Have you ever shopped at Kohl's? When you have their credit card, you get tons of discounts. They also have a no hassle return policy. They're a great company to deal with.

The reason I'd miss the card is because I use it to buy coffee K-cups for my Keurig machine at a great price, shoes and clothing for my Son and other essentials for myself that I cannot get at a better price anywhere. I doubt I'd get to keep the card, but if I did, I would not go out and charge things willy nilly. I'd use it to buy essentials and pay it off in full every month. I'd also use the Kohl's cash they give out ($10 for every $50 spent) to get things we need for free. A few years ago, I bought a Dyson vacuum for less than $200 with the Kohl's card and a 30% discount code, plus Kohl's Cash earned from the purchase. You can't beat that deal!

I too have a Kohl's card - note the reason you are sent all those discount offers is to get you into the store to continue buying. If you don't use the card, you don't get the discount so many people go on buying sprees and if they don't pay off the card when the bill comes in, it's obvious what can occur and the balance starts getting hit with high interest charges and any discount obtained is gone. Once you start charging more, more and more offers come - they want you to charge otherwise they don't make money.

[iswmle]

iswmle, how long ago did you file? Was it Chapter 7? I also have a Victoria's Secret card and was wondering if it would survive.

I was discharged in August of 2010, filed around March and yes it was a 7. My BK went very quick. I recently discovered that I am not the only VS holder who survived a BK, btw:

Credit Card surviving BK

[iswmle]

iswmle, how long ago did you file? Was it Chapter 7? I also have a Victoria's Secret card and was wondering if it would survive.

I was discharged in August of 2010, filed around March. My BK went very quick. I recently discovered that I am not the only VS holder who survived a BK, btw:

Credit Card surviving BK

The Victoria Secret folks must have an extremely liberal credit policy.

I think for people with a BK applying for a cc they are not so liberal. My ex sister in law went through a BK and could NOT get a approved for a VS card years down the road. Frankly, I was surprised they kept me on.

Sorry for double post...

[nokia123]

Thanks for your input. Have you ever shopped at Kohl's? When you have their credit card, you get tons of discounts. They also have a no hassle return policy. They're a great company to deal with.

The reason I'd miss the card is because I use it to buy coffee K-cups for my Keurig machine at a great price, shoes and clothing for my Son and other essentials for myself that I cannot get at a better price anywhere. I doubt I'd get to keep the card, but if I did, I would not go out and charge things willy nilly. I'd use it to buy essentials and pay it off in full every month. I'd also use the Kohl's cash they give out ($10 for every $50 spent) to get things we need for free. A few years ago, I bought a Dyson vacuum for less than $200 with the Kohl's card and a 30% discount code, plus Kohl's Cash earned from the purchase. You can't beat that deal!

One of my best friend has a kohl's charge, so i just give her the cash and she use her coupon's and charge if i want something from there. She shop's there every time she get's coupons. So i get the deals as well without there card.

[Freddy03]

If you sign up for Kohl's emails you still get the coupon codes and kohls cash is offered to anyone who spends $50 weather it's cash or charge when kohls cash is being offered.

[octoblonde]

Nokia, I asked my Dad if he'd list me as an authorized user after I am discharged and I'm waiting for an answer, lol. I mainly use my Kohl's charge online. I don't have any local friends who have a Kohl's charge. I wish I did, though.

Freddie, it's good to know they still send discounts and you can still receive Kohl's Cash if you don't use the card. Do they ever send 30% codes via email?

Thanks!