Month 8 chp 13 and approved for CC

[dmc-2008]

Ok thank you JB!! So yes, I know all about debt now!! You totally answered my question, even if the limit gets raised and I don't use it that is ok! I will not even go over 40.00 or 50.00, unless I need a car! Thank you, thank you!

[justbroke]

You could call the creditor and ask them to reduce the credit line or you can simply not spend above the pre-approved debt limit (set by the Trustee). In other words, just don't go over $500.

Remember, that the "new" credit card is new debt and is not included in your Chapter 13 discharge.

[dmc-2008]

Okay here's the scoop. I read these posts and have followed thes about renting a car and how impossible it is with a debit card. Then a few weeks ago I got a letter from Capitol One saying I was approved for a CC! I kept the letter. Today I came across it and I thought....hm.... So I got online and applied. I cannot believe that I am approved for a whopping limit of..... $300.00.
I didn't even have a chance to read the fine print! I have no idea what the rate is and even if there is an annual fee! I did it on a lark and expected to read!!!
Anyway, per my trustee instructions I am allowed $500.00.
Ok besides that bit of info I have a question.... I can have 500.00 but does that mean if this CC increases to say 700.00 I have to either call and say no or cancel it??
I never expected a cc this early in the game, is crazy! :-). But if it will start the rebuild then cool!