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learning the hard way

I made a mistake, I paid off my credit cards

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I recently recieved some unexpected money. I decided to pay off my credit cards. I thought since my ex wife has/is ruined/ruining my credit I could raise my score by showing a small balance again. I was applying the same stuff I learned on this board back in 04 when we filed BK. I figured I would pay off the cards and then charge the groceries for the rest of the month. A couple of days after I paid them off I tried to use one of them... DECLINED. WTF, I thought, so I checked the online status. They both showed the payment, but said that I had 0 balance available. I called they said they put a 7-10 day hold on the payment because it was so large. After waiting 7-10 days I called them back to find out why they had not released the hold. They used my last $33.00 that was available to cover my $39.00 annual fee. In anger, I said just cancel the card, and they did close it. Then, I called the other card to see what I could get out of them. They said that due to my recent credit report, they closed my account.

 

Now, I have very little money and no credit card.

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Wow... I dont have anything useful that might help you right now. A would just encourage you to use this opportunity to refamilarize yourself with the fundamentals and strive be more patient.

 

Good luck!

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Yes, I totally agree with the last person, credit is something that you must really think about before acting or reacting. No more spur of the moment decisions from me again! Going thru this experience at this stage in my life has changed my thinking 100%. Think about what you really need and things will work out!!

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Have your tried apply for another card on your own? I would suggest the wal-mart card in person.

 

Normally, I would advise against this. If you have overdraft coverage and you are short until you next payday. I would take an overdraft out for the amount you need and can pay back, plus the fee. That is only if you are starving. Use the atm from you bank to do this. Make sure you don't have any autopayment or checks coming in to avoid additional over draft charges.

Edited by groze

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I recently recieved some unexpected money. I decided to pay off my credit cards. I thought since my ex wife has/is ruined/ruining my credit I could raise my score by showing a small balance again. I was applying the same stuff I learned on this board back in 04 when we filed BK. I figured I would pay off the cards and then charge the groceries for the rest of the month. A couple of days after I paid them off I tried to use one of them... DECLINED. WTF, I thought, so I checked the online status. They both showed the payment, but said that I had 0 balance available. I called they said they put a 7-10 day hold on the payment because it was so large. After waiting 7-10 days I called them back to find out why they had not released the hold. They used my last $33.00 that was available to cover my $39.00 annual fee. In anger, I said just cancel the card, and they did close it. Then, I called the other card to see what I could get out of them. They said that due to my recent credit report, they closed my account.

Now, I have very little money and no credit card.

 

Bolded area is very important- If you had followed the agreement to a T- (meaning no past dues or exceeding limit) then its extremely odd that they randomly closed your account due to another account. Did they notify you first of the closing- in writing? All my credit card companies I deal with strictly have procedures for notifying holders of any major changes....be it interest rate increase, credit limit, days in cycle, There are varying parameters that the consumer is to be contacted PRIOR to immediate CLOSING or within five days of. Fraud theft/Identity theft is the only time where they immediately closed my account. Within two days ( Fedex) I received their letter to inform of this consumer request)

 

What does your terms/conditions say on closing account and how they contact you?

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I've had unreasonable cards and I tell them I have the scissors in my hand and they can be reasoanble or we can close the account. Only got called on that once.

Note, I no longer have a discover card.

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