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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: New here! Have questions! Date:  5/5/2013  2:51 PM
Author:  Fuskie Number:  306954 of 312185

The annual fees are part of the cost if rebuilding your credit after the BK. I assume it was a joint BK since you both have such cards. I agree check your credit scores - use to get it free monthly - and you are right to pay off all balances as quickly as possible and to never run a balance again, but to pay them off every month without fail.

If you can be disciplined about it, using your credit card to pay your utility bills is ok provided you have the money and don't run a balance. If you pay off the balance every month, over time you will see your score improve and eventually you will see offers for better credit with no annual fees. It may take a couple years but if you demonstrate responsible credit use, your score will improve.

Who would not pay a fee for a credit increase you don't need and would recommend checking with a local credit union to see when you might qualify for a standard credit card and as you are able to get approved for fee-free credit, to replace those annual fee cards and finally get out from under the yoke of the BK...
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