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What is up with all these approved CC's...

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    #1

    Question What is up with all these approved CC's...

    We have received 6 approved credit card offers in the past 2 weeks! We are not even discharged yet....we are in the 60 day club.

    The credit cards got us in trouble before and I don't plan on having any credit cards again. Hubby and I decided that our banks DEBIT card is all we need.

    Do they waste all that money on postage just to tempt everyone that goies thru BK?

    These offers were not secured cards, no annual fees, and 7.25%. I might look dumb but I have learned my lesson!

    NO MORE CREDIT CARDS!
    07/24/09 -- Filed Chapter 7
    09/22/09 -- 341 Meeting
    09/25/09 -- Pacer States "No Assets"
    11/25/09 --DISCHARGED!!!!!!!!!
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    #2
    Yes because they KNOW they can suck INTEREST out of you for AT LEAST 7 years, since you cant file again until then, thats a lot of money for them if they can get you to run it up a little even if you bail.

    According to my calculations I paid 21,000 in INTEREST just on one card over the last 7 years. They can keep that money and write off any balance if you file, its win win for them, make no mistake about it, they dont lose a dime when you go BK if you have had the card a few years with a good balance.

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      #3
      After I file I will get a new CC and only use it for regular grocery and food item purchases that I would be using cash for and pay it off each month, NO EXCEPTIONS, the reason is, this will BOOST your FICO in a hurry paying that card OFF each month, BUT ONLY USE IT FOR PURCHASES you would be using cash for to begin and NEVER carry a balance more than a month.

      I am capable of this, my BK problems were not due to my own irresponsibility, it was the GF who ran the card up in my name, I let her do it yes, stupidity yes, but I am not one to carry a debt like that so I will use it just for ggas and food and pay it off each month and the FICO will come back in no time.

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        #4
        They're not really approved, read the fine print. They say things like, "credit limit UP TO $10,000" and "interest rates as low as 7%." They're just teasers to get you to apply and you will either be turned down or approved for a $200 limit at 30% interest after they check your credit.

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