Credit Card surviving Bankruptcy?

[Logan]

There is no guarantee any zero balance credit card surviving a BK filing will stay open and can be closed at any time during the coming months/years. I had a Dress Barn charge survive our Chapter 13 filing in 2/02. I used it now and then over the years for work clothing, paying it off immediately when the bill came in. I went to use the card in the fall of 2008 (two years after discharge) and was denied at the counter and advised to contact customer service as to why. Customer service advised me my account was closed due to "bankruptcy on my credit report." I was advised I could reapply after the BK came off my credit reports in April 2009 (note the denial took place just several months prior to the BK coming off credit reports). I never reapplied but get bombarded with discount coupons and freebie coupons to come back into the store. Our credit is stellar after the BK removal but I just don't need or want any credit cards for the sake of just having them.

There is no guarantee that any zero balance card will survive a BK filing; 99% of them get closed, if not within several weeks/months, even a few years down the road.

I would bet the the financial crisis had something to do with your card being closed. I bet that if time was backed up a few years the card wouldn't have been cancelled.

We'll never know......

Logan

[Flamingo]

There is no guarantee any zero balance credit card surviving a BK filing will stay open and can be closed at any time during the coming months/years. I had a Dress Barn charge survive our Chapter 13 filing in 2/02. I used it now and then over the years for work clothing, paying it off immediately when the bill came in. I went to use the card in the fall of 2008 (two years after discharge) and was denied at the counter and advised to contact customer service as to why. Customer service advised me my account was closed due to "bankruptcy on my credit report." I was advised I could reapply after the BK came off my credit reports in April 2009 (note the denial took place just several months prior to the BK coming off credit reports). I never reapplied but get bombarded with discount coupons and freebie coupons to come back into the store. Our credit is stellar after the BK removal but I just don't need or want any credit cards for the sake of just having them.

There is no guarantee that any zero balance card will survive a BK filing; 99% of them get closed, if not within several weeks/months, even a few years down the road.

[BrokeinMD]

Hi Exployer....call the number to check the available credit. Maybe you'll be pleasantly surprised! Mine was 0 balance when I filed, too. I've had the card about 25 years. I don't use it much, but it's nice that an old card survived, even though it's not a big boy.

[Exployer1234]

Awesome! I have a VS card I haven't used in a while. They still catalog me to death! My Fashion Bug survived, and even my corporate AMEX, which really surprised me. Fashion Bug was the very first card I ever got, so it's nice that I'm going to start over with it being in tact.

I used to manage a Fashion Bug years back. I had a zero balance on the card when I filed so I wonder if it is still active.

[SPalin]

My Bloomingdales and Nordstrom both survived post discharge! I didn't use my Bloomies and Nordies, December 2009 as I was in the middle of my Ch 7, I had used the Nordies several times last year after my discharge, but not the Bloomies. In November I logged back into my on-line account at Bloomies and it showed active, but no credit limit, so I contacted customer service and was told yes, the card is open and my credit line was increased! So yes, credit cards do survive Bk... might see about a Nordstrom Visa, later in the year and get rid of the BestBuy MasterCard (no CL increase in the past year, unlike my Hooter's and CreditOne)!

[Amy26]

They also do not count towards your FICO score as much as a major credit card does. Mostly they are good for rewards, positive trade lines and aiding to your utilization and average age of accounts metric.

[BrokeinMD]

Awesome! I have a VS card I haven't used in a while. They still catalog me to death! My Fashion Bug survived, and even my corporate AMEX, which really surprised me. Fashion Bug was the very first card I ever got, so it's nice that I'm going to start over with it being in tact.

[discombob1]

My VS card has also survived, as have 2 other clothing store cards. Could care less about the cards but love those coupons!! I also didn't realize store cards are considered subprime... interesting!

[IBroke]

It really seems that my two CC-accounts (Plains Visa, unsecured and New Millennium, secured) have indeed survived my BK. I know for sure they knew about my BK (appeared as a soft pull after filing on my CR) but I was so "smart" to keep them at a $0 balance when I filed.

Since then, I'm using and paying them without any issues...

[df04527]

LOLOL -- that was funny and Vicky Secret underwear no less! LOLOL

[stormy]

Well it's good to know you can file BK and still have decent underwear.

[oregonpilot]

pretty funny cleveland.....sure do like the new addition to your sig.

I had to buy wallpaper paste last week. Had a Sherwin Williams acct and never kept a balance. Was afraid to put the paste on the acct (I don't get my contractor discount if its not on acct)
Was shakin in my shoes waiting for them to say the acct was closed. No problem. WHEY

[frogger]

Well it's good to know you can file BK and still have decent underwear.

And buy it on credit......

[clevelandmom]

Well it's good to know you can file BK and still have decent underwear.

[df04527]

VS is exactly the one I've referenced before too. We are 8 days from discharge and it's still open. Does happen occasionally -- of course it hasn't been used in about 2 years.

@HHM - I had no idea store cards were considered sub-prime. wow