Using an old credit card after bankruptcy.

wharty

Well i cant find any of my original paperwork so i will just buy some petrol come discharge and see what happens. The transaction will either not go through or it will and they ask me to settle the card or with a bit of luck they don't bother questioning me.

debtinfo

as above, why dont you just ask the bank, then you can be sure

john1002

this is a term from capital one and it does show that your bankruptcy would be a reason to default and closure of account:

16. Default. If: (i) you do not pay at least the monthly payment on time, or (ii) you go over the credit limit on your account, or (iii) you break any of the other conditions of this agreement, or (iv) you made any statement when applying for this agreement which is false or misleading in a material respect, or (v) you die, or (vi) a bankruptcy petition is presented against you, or (vii) you make arrangements with your creditors for a compromise about how much you will pay them (sometimes known as a 'voluntary arrangement' or a 'compromise with creditors'); or (viii) you enter into a Debt Relief Order, then if any such breach is irremediable or material or has been persistently committed by you, subject to sending you a default notice, we may close your account and demand immediate payment of the outstanding balance. We will give you at least one month's notice to put right any remediable breach.
In addition to our other rights under this agreement, we may stop, restrict or defer your right to borrow further amounts under this agreement where we consider it reasonable to do so because of reasons relating to the security of your card or account, suspected unauthorised or fraudulent use of your card or account, a significantly increased risk that you may not be able to repay your debt or where we are required to do so by law. Wherever possible, we will notify you of our action before we stop, restrict or defer your rights.

john

dojoman

wharty wrote: »

Hi all.

Myself and my wife were made bankrupt in June last year and over the last few months we have received a couple of credit cards from Barclays and Lloyds. They were listed as accounts in our bankruptcy but there was no balance on either account.

Once we are discharged would there be any harm in using these pre-bankruptcy accounts to start building our credit ratings?

I was thinking of just using them on a monthly basis and paying off at the end of the month.

Thanks.

As you are stll BR you should inform your OR about receiving these cards and see what they have to say.