I know that compared to most of you, this is nothing, but i had to share what arrived in my mail box on Christmas Eve....Hubby and I had to file for BK in October and when we got the letters from First Consumers National Bank about getting a fresh start with an unsecured M/C from them, i knew it was a long shot, but we filled out the paperwork and sent it in...much to my surprise, we BOTH got a m/c with a $300 limit!!!! This is big news to me, because we have not even gotten our discharge yet and i thought i would only be able to rebuild our credit with secured cards!!! This was a nice Christmas surprise and will put us on our way to that much needed credit to buy a house in a couple of years!! And you know, after going through credit hell all these years and finally coming to the end of the line and having to file, I have SUCH a differnet outlook on this credit card!!! I once looked at a credit card as money to spend, now I have learned a thing or two about the world of credit...thanks in BIG part to this board! You guys are the best! Thanks for everything and keep that great advice coming!
FYI... Don't EVER use that card for a cash advance. If you do it knocks you out of getting an increase at all!! Use it wisely and they will be good to you. I'm still stuck at my same limit but my mom started with a $300 limit last November and as of this month she's at $2350. She charges about $250 a month and pays like 3 equal payments, then does it all again. They like to see alot of usage and well as high payments and never ever be late with them or OL and you will be treated well. I didn't know and used mine for a cash advance once and they said it's in the "fine print" regarding increases and using it for cash. BTW...Congrats
Christi, You mean that getting an advance from FCNB will preclude any limit increase from them, like forever, in perpetuity? Or just for that year? Man, if that's the case, I'll quit trying to "impress" them with high usage and high payments, and go back to using it as a gas card (like an idiot, I forgot my atm card one day...had to draw out $20). wajaba
The reason you really should not use any credit card until after your BK is discharged is because you could get in trouble. If the BK trustee or even one of the creditors you are filing in the BK were to find out you are using credit cards while in the middle of a BK case, your case could be considered fraudulent. This is why you are ususally asked by your attorney if you have utilized your credit cards in the last 6 months prior to filing. "If you are bankrupt, why are you using a credit card and taking on new debt?" This is the way it the trustee would look at it if they were to find out. Rebuilding after the BK is discharged is one thing, but using credit cards before discharge is asking for trouble. I believe this is the point Keepmine is trying to make.
Stacie, Here is the reason you shouldn't use the card until discharge. If the creditors you incllude in your filing find out you are using and making payments on a card prior to bk discharge, they can claim you are giving one creditor preferential treatment at the expense of everyone else in your bk petition. You don't need that potential complication.
That was the other point. I just couldn't think of the right way to word it. You really don't need any problems during the BK.
