Pre Approved Credit Card offers

[Gettinout]

Our BK was just discharged a little over a week ago and my husband has already received 2 pre approved credit offers. One from Orchad and one from Capital one. Both had no processing fee and no monthly fee with apr of 14%!!! They both encouraged him to use these to rebuild his credit. These CC companies are insane!!!!

[Viper]

I've already been approved by Cap1 for an unsecured MC w/ $19 annual fee. 0% APR until June then it goes to 14.9%. I'm 2 weeks away from my objection deadline. So to answer your question YES they are insane!!




-Viper

[Gettinout]

And Capital One was included in our BK. I guess they know we are a sucker for plastic and love to shop..........But no more we will never do that again. We have a son now that we have to build a good life for.

[down&out]

Please be sure you read EVERY word of the agreement. Especially if its a card from a company you bk'ed on. They could reattach your debt!! Just be done with it. All thats what got us in trouble in the first place. Unless you really need to do something to try to rebuild your credit score for a future home or car loan, I would rip up all cc offers. But of course I'm a little biased since I'm such a hater of the credit system.

But has this ever happened to anyone here on this board? Credit card companies reattatching the debt through trickary is of course the big ole feer of everyone here - But I have yet to meet, talk to, or chat with anyone who has actually had that happen... I think this is the "urban Myth" of BK filers.

By the way - Before all of you start posting the "my brother's cousin's uncle had it happen too him..." Tell me if any of you have actually recieved a card offer or loan offer that specifically said you had to reattatch the debt? - If they were out there I would think we would have a board just for them.

down&out

[bkfiler]

down&out, i agree. i am waiting for the proof too. i dont beleive it. and 2 attorneys i spoke with said it will never fly. ever. printed and signed or not.

think about it, your account opening fee could be $14K. think a judge would allow that?

[Viper]

It sure does sound like they would be walking a fine line between what is legal or not, no doubt. I didn't have a Cap1 account when I filed (had every other 1 under the sun but no Cap1). I did have a secured Cap1 account 10-12 years ago, but I had closed it out on good terms only after having it for a year. Not sure if that made a difference in there decision or not, who knows.



-Viper

[down&out]

Regardless though, I know I wouldn't feel comfortable dealing with a credit company that I bk'ed on. I'd feel like I should pay them more money since I really do owe them more because I filed on them. But thats just me.

[bkfiler]

lol, you are the best! i love it! hahaha