Current Events > ''should i open a credit card after bankruptcy to repair my credit?'' personalfi

(+) Yeah! (+)

nance: ''hell no. debt is bad. you are bad at money. no more debt."
"but i want to get a house, how do i repair my credit?"
PF: "Hell if i know, i'm fucking rich. have you tried not being poor?"

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I'm not sure what you're trying to say here but if you live paycheck to paycheck then I suggest not having a credit card.

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metallica846 posted...

Please stop spamming the board.

I'll do what i want.

Veggeta_MAX posted...

I'm not sure what you're trying to say here but if you live paycheck to paycheck then I suggest not having a credit card.

i dont live paycheck to paycheck.

also you sound like "CREDIT BAD!!! POOR PEOPLE!!!" folks im talking about.

you need credit to get a mortgage.


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It's probably fine if you take the "immediately pay it off as you use it" approach.

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Just stop. You already made this topic twice in the last couple hours, replied to yourself, and then locked the topic when you didn't get any replies. Take a hint.


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Jabodie posted...

It's probably fine if you take the "immediately pay it off as you use it" approach.

finally, someone with a brain.

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treat it like a debit card and it's free money through the rewards

use it like a moron and it'll put you right back into debt

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PatrickMahomes posted...

treat it like a debit card and it's free money through the rewards

use it like a moron and it'll put you right back into debt

and thats all PF needs to say

instead they just pile on crap that they should never touch credit ever again. its ridiculous.

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You wanted someone to tell you to use a credit card responsibilibly?

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If you've had a bankruptcy, your credit is automatically fucked for seven to ten years, depending on the type of bankruptcy..

Veggeta_MAX posted...

You wanted someone to tell you to use a credit card responsibilibly?

am i on reddit??

Questionmarktarius posted...

your credit is automatically fucked for seven to ten years,

again, someone who doesn't know what they're talking about.

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You're going to get a credit card with a $500 limit at 35% interest but sure open one up.

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Get a credit card, you deserve it.

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If I'm up on my bluemonk lore, you used to mostly pay off your balances and only started drowning in debt due to covid related layoffs or something? Probably fine to get a new one, though they probably won't be great cards if your can get any at all

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I'm thinking he's seen too many people give totally bad advice about credit cards and he's patronizing these people?

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Veggeta_MAX posted...

I'm not sure what you're trying to say here but if you live paycheck to paycheck then I suggest not having a credit card.

Nah I live paycheck to paycheck and having a card is basically mandatory to be able to survive emergencies.

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l NEED A MOD!!!!

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Glad we got TC what he wanted?

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Sir, I'm going to have to ask you to leave

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For you, I recommend a secured credit card until your credit score can be considered "good" (around 700 give or take).

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s0nicfan posted...

Just stop. You already made this topic twice in the last couple hours, replied to yourself, and then locked the topic when you didn't get any replies. Take a hint.

Jesus Christ, this is sad af.

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Debt is only bad if you can't be trusted with it. And if you're filing chapter 11 it's pretty safe to say you can't be trusted with it.

I doubt anyone is even going to approve you for a card unless you put a balance deposit up front anyway.

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Vampire_Wreath posted...

Casa Bonita, no!

Sheesh and I thought I made too many of the same topics.

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if you're constantly irritated about the advice given on /r/personalfinance then i suggest you stop visiting

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DarkChozoGhost posted...

If I'm up on my bluemonk lore, you used to mostly pay off your balances and only started drowning in debt due to covid related layoffs or something? Probably fine to get a new one, though they probably won't be great cards if your can get any at all

my wife is already preapproved for a card. no annual fee. 23% interest yikes but we dont plan on holding a balance

we have a sizeable emergency fund and i make 3x as much money as i ever did so unless theres another god damn pandemic we should be good.

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You shouldnt have had so many cards and tried churning cards

s0nicfan posted...

Just stop. You already made this topic twice in the last couple hours, replied to yourself, and then locked the topic when you didn't get any replies. Take a hint.

Damn, dude dying for attention.

Vampire_Wreath posted...

Yikes.

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Kingbuffet posted...

You shouldnt have had so many cards and tried churning cards

yeah. maybe.

but business class was pretty cool.

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"Look at me, Sempai!" The topic.

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Find a housing lender that does manual underwriting. Literally no reason to ever have our use a credit card. Also, before you even think of a house, you should have no debt, six months of expenses saved as an emergency fund, and enough saved for a down payment that is 20% or more. Your payment on a 15 yr mortgage should be no more than 24% of your take home pay.

uwa ej posted...

Find a housing lender that does manual underwriting. Literally no reason to ever have our use a credit card. Also, before you even think of a house, you should have no debt, six months of expenses saved as an emergency fund, and enough saved for a down payment that is 20% or more. Your payment on a 15 yr mortgage should be no more than 24% of your take home pay.

thank you for an actual response.

yup, thats all part of my plan. right now i have 3 months saved up, and working on paying my student loans since that wasn't discharged in the BK. i want to make sure im also working toward repairing my credit while im paying that off so thats why im looking at cards again. i read student loans help, but revolving credit helps in big ways

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