credit card zero balance

longshot

hello,

just before i went BR 3 months ago one of my credit cards was at zero
with a thousand or so credit limit,

it still seems to be open which for me could be very useful as

an emergency backup etc once discharged , i get the impression it will not be

closed unless the bank (one of the world's biggest) close it but they did seem

to raise the interest rate by to 30% pa...

this would be very nice to have for backup..

fiveyearplan

Did you list that card on your BR forms? It could have consequences if you use it though but I understand the 'safety' of having it.

Ingenious_Squirrel_2

I just think every thing should be above board, whether the bank has made an oversight or not, that credit card should not be open to you at this time so therefore you shouldn't be able to get access to it after BR either. Sorry, I just think you could land yourself into trouble even if it's not you're fault the card is still accessible

confused76

from what i've read on here it doesn't seem advisable to use it....

what_happens_now?

Yeah don't forget that one of your conditions of BR is that you are NOT ALLOWED to have credit whilst undischarged. If you are found to have a credit card with credit available to you then you are in breach of your conditions....

I would get rid of it, and even go so far as letting the OR know as it may pop up later and could land you in a world of trouble....

alastairq

Yeah don't forget that one of your conditions of BR is that you are NOT ALLOWED to have credit whilst undischarged. If you are found to have a credit card with credit available to you then you are in breach of your conditions

You can acquire credit, but MUST inform the potential creditor you are BR, if you ask for a sum in excess of £500.

or someting loike that

longshot

answer - card was listed on BR.

i wouldnt use it whilst bankrupt but am interested if its still open
after being discharged i presume you can use it whatever the limit?

philnicandamy

if the card is listed as a creditor on your petition (even with a zero balance) then I very very much doubt they'll allow you to continue using once discharged because the OR will contact them to inform of your bankruptcy eventually so the account will probably be closed

fatou256

longshot wrote: »

answer - card was listed on BR.

i wouldnt use it whilst bankrupt but am interested if its still open
after being discharged i presume you can use it whatever the limit?

i was under the impression that all your debit and credit card belongs to the OR once you are declared BR unless the oR has no interest and thi sistill applies after you discharge as the other poster said dont use it and mention it to your OR because they will find it out eventually .