Prepaid Mastercard

August 29th, 2011 by Questions

I am about to file for bankruptcy in the near future and I wanted to know about prepaid Mastercards.

After I file, can I get one, or do I have to wait until I am discharged?

Posted from: Ontario

Questions

One Response to “Prepaid Mastercard”


August 29, 2011 at 9:10 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

The rule with credit cards and a bankruptcy is that the day you file for bankruptcy you cannot have any credit cards in your possession. So after you have filed you technically can apply for a credit card, although I might suggest you look into a secured credit card (see Horizon Plus or Capital One) as opposed to a prepaid credit card. The reason is that the prepaid versions usually do nothing to help re-establish your credit, but the secured credit card will.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)