this post was submitted on 01 Nov 2023
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My MIL declared bankruptcy and after that she was awash in credit card ads. What you say makes sense but it doesn’t square with what I saw.
Well, that's unexpected but I guess CC companies are willing to risk it. Especially if they know that CCs are the only viable option they have and they can offer penalty APRs with little pushback.
I've had extended family members declare bankruptcy several times and they're still approved for a credit card. Whereas I have never missed a credit payment in my life have a hard time getting a line of credit. I don't get it, the system is broken.
Same thing with my mother; she started getting pummeled with cc mailers within 6 months of her filing.