Bankruptcy

[Seekerlady]

Why is it that if you have declared bankruptcy, in about a few weeks after the discharge has been processed that all of a sudden you start getting offers for credit cards again? Don't the CC's know that you have bankruptcy or is it that because you do have a bankruptcy, therefore they want to let you try it again? I thought a man couldn't be hanged twice!?....lol

Seeker

[Cal813]

Mabye they don't know about it, till you apply and they ask you. I've also known that CC companies will send you offers like that and as soon as you want to sign up, they already know you went bankrupt earlier. So they will ask for a larger deposit or higher interest rates.

[sundaybrew]

Thats actually a good question,

The answer I would think is that they want those FEES again

[Bahamut]

They are experts with Bad Credit customers.
Most of those cards comes with a insane APR and they sent you the credit card maxed out already. (Like getting the minimum of $210 credit line. 1 time fee of $90 - 1 Processing Fee 70 - 1 credit fee $20 - and $72 yearly paid monthly, so $6 per month. This means $90+$70+$20+$6 = $186)
However, a smart client who had credit issues, will get the card and pay it in full at the very first moment he activates it... then, starting the credit building.

These guys get most of their income by that way, so if somebody is bankrupted and gets one of these CC... the lender won't lose too much if you do not pay.

[AMJ21]

Quote:

Originally Posted by sundaybrew

Thats actually a good question,

The answer I would think is that they want those FEES again

BINGO! Some money is better than no money.

[Jeanie]

Yes, they just figure they can make money off of you eventually and it's hard to claim bankruptcy AGAIN..or at least that is what I have been told..