Has anyone been scared to use Credit Cards after being discharged?

[nicole38]

I was discharge in June 09.I have one Capital One credit card that I was approved for.I have it in my wallet and actually forgot that its there.I really don't wanna use credit again.I have gotten use to a cash only lifestyle but realize I need credit as I don't want high interest rates on cars or on a house. I was just wondering is anyone else afraid to use credit after being discharged?

[oldhack]

Well, I look at it this way: I won't really have learned anything from my (Chapter 13) bankruptcy unless I CAN use credit again wisely. To me, that means using only when necessary, for purchases which good will outlast the length of the repayment.
For example, since bankruptcy I've bought a house (a fixed interest rate close to a 50-year low!). A solid deal, no overpayment, an easily affordable mortgage relative to income and debt. Less than my previous monthly rent and trustee payment combined.
As for credit cards, I have two with low-ish limits, and I'm fine with that. I use them much the same way as I view my mortgage -- when the benefit will outlast the debt, and I can pay it off predictably.
It's LIVING ON debt that's debilitating, both financially and spiritually. Using it wisely can actually be empowering.
There is nothing at all wrong, by the way, with a cash-only attitude. More people should adopt it. When it isn't possible, though -- say, in emergency situations -- credit is a tool toward responsibility.

[AngelinaCat]

We choose not to use a credit card. We don't even use checks, as it is too easy trying to count on the 'float time' between writing a check and it getting to the CU. We are schooling ourselves to use cash, or a debit card; money orders when necessary. A 40 cent MO is much cheaper than having a $30.00 NSF penalty. The debit card ceases to work below a certain level. It takes discipline, and is *hard*.

When using a debit card, use it as a *credit* card. The reason is that you have 30-60 days to dispute an erroneous charge, depending on your institution. A draw from the debit side is gone, and almost impossible to recover.

Good luck!

[gymbo]

I'm very recently discharged and I think if I were to get a credit card right now, it would be like an alcoholic going from rehab straight to the bar.

Bad idea. (for me!)

[Crazzyjen]

I was discharge in June 09.I have one Capital One credit card that I was approved for.I have it in my wallet and actually forgot that its there.I really don't wanna use credit again.I have gotten use to a cash only lifestyle but realize I need credit as I don't want high interest rates on cars or on a house. I was just wondering is anyone else afraid to use credit after being discharged?

Yes I am afraid to use my credit cards. I used to use my credit card when I didn't have money in the bank but I have learned my lesson. I will not buy anything unless I already know I have the money to buy it with my visa debit card. Ease your way by using it as a gas card.

[AMISLANDER]

If you don't use your credit cards that you have obtained after a bk, you will find not only will your limits be dropped but they will close out the card as well. Read your agreements.

[Crazzyjen]

If you don't use your credit cards that you have obtained after a bk, you will find not only will your limits be dropped but they will close out the card as well. Read your agreements.

I can only speak of my experience. I went to use my Chase credit card and it was not approved at the store. Fortunately I had my debit card and was able to pay with it. I called Chase and found out that they closed my account. I am more cautious now than ever to use my credit cards. I still use them because I don't want the banks to close them for inactivity but have that knot in my stomach it will not go through.