After my discharge Marchish of last year I got a secured card from Orchard Bank. It has a 1,000 limit. I also got a secured card from Capital One with a 500 limit. Sicne hten I've been approved for the Best Buy Rewards Card Unsecured Mastercard with a $300 limit and the Credit One Bank VISA with a $300 limit. Do I really need all these cards open? Should I close the secured accounts or will that hurt my credit??
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NO. Do NOT close them. Every time you close a credit card, it dings your credit. Crazy, yes, but that's the way it is. Personally I would pay them down to nothing, make any purchase and pay it off before the billing cycle. The secured cards bring up to your balance and get rid of the unsecured cards if anything.Originally posted by FLPrincess View Post
Remember, not so long ago, what got you here? How many cards did you discharge? If anything pay them off. It is your debt so you want to go right back where you once where.
I own NO CREDIT CARDS and we are doing well with cash. No cash, no purchase, no debt. We use a debit card and when the money is not, the card goes dead. Really nice feature not to do a bk again. 'HubIf I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010. -
Follow up
I don't have any debt on these cards, I pay the balance every month. At first I was excited to get approved for anything, but now I'm like WOAH! So many cards! If it hurts my credit I won't close them though
Thank you!
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Princess - for those secured cards, you deposited $1K with Orchard and $500 with Cap One and then they gave you cards with those limits? I will be looking into 1 secured card for travel after I am discharged, so am curious about the process. Tks for info!Originally posted by FLPrincess View PostFiled Ch 7 Pro Se 11-18-2010
341 Meeting 12-16-2010 Discharged 2-15-2011
New Job 7-2011
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