Generally, when you file bankruptcy, you’re obligated to report all of the companies, all the people you owe money to. If you want to keep a credit card, there has to be a zero balance on it at the time we file your case. Since you don’t have a balance, we don’t have to report them as a creditor. Therefore, you’re going to end up retaining the card. However, that doesn’t mean that the creditor will not shut it down once they find out that you filed bankruptcy.
When creditors send you cash checks, when they give you marketing material, when they give you lower interest rates, before they send you out those marketing promotions, they check your credit report. They will then find out that you did file bankruptcy. Then it’s 50 50 on whether or not that credit card company wants to revoke the privilege of the card. I wouldn’t suggest that you pay down these credit cards in order to keep one. But just know that it’s possible that you may be able to retain one.
And not only that, you can always use your bank card connected to your bank account as a credit card, as you would any other credit card or any other line of credit.