Losing my job, what will happen to my credit cards?

[JohnnyDangerously]

Hi All,
I am being laid off by my employer. Just wanted to know what to expect in terms of credit cards, will the stop allowing charges to go on? If so, what timeframe should I expect that to happen? The reason I am asking is because I am going to visit my parents in the next 3 weeks and don't want to run into the CCs not working. thanks

 

[waggy]

uh why would they? they don't call your work to see if you still work there.

 

[Gunslinger08]

Originally posted by: JohnnyDangerously
Hi All,
I am being laid off by my employer. Just wanted to know what to expect in terms of credit cards, will the stop allowing charges to go on? If so, what timeframe should I expect that to happen? The reason I am asking is because I am going to visit my parents in the next 3 weeks and don't want to run into the CCs not working. thanks

Are they corporate cards? Or do you really not know much about credit cards?

 

[j00fek]

call the credit card company?

 

[OutHouse]

you should cut them up. asking that question shows you know nothing about credit.

 

[jlbenedict]

As long as your cards are in good standing..

Instead of worrying about your credit cards, I'd be more worried about finding another job

 

[krunchykrome]

The infamous avatar strikes again

 

[mundane]

I imagine if they're corporate, policy would dictate they be canceled as close to when the employee knows of their termination as possible.

 

[iroast]

avoid using CCs at all cost after termination. your debt will build up and when it's high enough, the interest will kill you.

 

[Wapp]

Originally posted by: Citrix
you should cut them up. asking that question shows you know nothing about credit.

QFT.

While you are posting here check out the stickied job thread.

 

[WhiteKnight]

Originally posted by: krunchykrome
The infamous avatar strikes again

Ha, my thought exactly upon opening this thread.

 

[Baked]

Don't buy shed w/ your CC if you don't got the cheddard to pay the bill. Oh wait, I forgot, people don't pay their CC statement even when they have the cheddard.

 

[sswingle]

Your employer is going to call all your banks to get your cards cancelled, just to spite you. They didn't like you enough to lay you off, so why not?

 

[sandorski]

The CC companies are unlikely to care, until you stop paying the bills. It's a good idea not to use them though until you get another Job.

 

[JohnnyDangerously]

ok thanks. yeah of course I don't plan on using my CC (its not a corporate card), but just in case I need to in emergencies.
when I get my seperation pay from my employer, I plan on paying the CCs off

 

[BobDaMenkey]

Originally posted by: sandorski
The CC companies are unlikely to care, until you stop paying the bills. It's a good idea not to use them though until you get another Job.

Yup, pretty much. Alot of them will have some kind of policy though where you might have been able to buy some kind of insurance incase you get laid off. Or they'll let you lapse for a few months if you call them and let them know you've been canned.

Best thing would be to look over that huge thing of fine print you agree to when you get the card. Lacking that look for the 1-800 # on the back of the card for customer service. Give that a call, and ask them what their policy is if any in the event of termination. Obiviously(well, probably not) DONT TELL THEM you've been canned, just keep paying the bills and stop using the cards until you get another job.

 

[daveshel]

You will start charging more than you can pay each month until you, too, have a thread about your bankruptcy.

 

[crystal]

Originally posted by: JohnnyDangerously
ok thanks. yeah of course I don't plan on using my CC (its not a corporate card), but just in case I need to in emergencies.
when I get my seperation pay from my employer, I plan on paying the CCs off

You are not living up to your name, Johnny boy.

 

[Strk]

Originally posted by: BobDaMenkey

Originally posted by: sandorski
The CC companies are unlikely to care, until you stop paying the bills. It's a good idea not to use them though until you get another Job.

Yup, pretty much. Alot of them will have some kind of policy though where you might have been able to buy some kind of insurance incase you get laid off. Or they'll let you lapse for a few months if you call them and let them know you've been canned.

Best thing would be to look over that huge thing of fine print you agree to when you get the card. Lacking that look for the 1-800 # on the back of the card for customer service. Give that a call, and ask them what their policy is if any in the event of termination. Obiviously(well, probably not) DONT TELL THEM you've been canned, just keep paying the bills and stop using the cards until you get another job.

Amex has something like that. It basically covers you for two months, then you have to start paying again. You pay a certain amount per month for it.

 

[Garet Jax]

Originally posted by: JohnnyDangerously
Hi All,
I am being laid off by my employer. Just wanted to know what to expect in terms of credit cards, will the stop allowing charges to go on? If so, what timeframe should I expect that to happen? The reason I am asking is because I am going to visit my parents in the next 3 weeks and don't want to run into the CCs not working. thanks

They have no mechanism to do this.

 

[Baked]

Originally posted by: Strk

Originally posted by: BobDaMenkey

Originally posted by: sandorski
The CC companies are unlikely to care, until you stop paying the bills. It's a good idea not to use them though until you get another Job.

Yup, pretty much. Alot of them will have some kind of policy though where you might have been able to buy some kind of insurance incase you get laid off. Or they'll let you lapse for a few months if you call them and let them know you've been canned.

Best thing would be to look over that huge thing of fine print you agree to when you get the card. Lacking that look for the 1-800 # on the back of the card for customer service. Give that a call, and ask them what their policy is if any in the event of termination. Obiviously(well, probably not) DONT TELL THEM you've been canned, just keep paying the bills and stop using the cards until you get another job.

Amex has something like that. It basically covers you for two months, then you have to start paying again. You pay a certain amount per month for it.

Every freaking CC has something like that. They call me all the time to ask me to enroll. And whenever I call them up to ask some question, they push it before I can hang up on them. Bastards.

 

[jadinolf]

Originally posted by: Citrix
you should cut them up. asking that question shows you know nothing about credit.

:thumbsup:

 

[sandorski]

Originally posted by: crystal

Originally posted by: JohnnyDangerously
ok thanks. yeah of course I don't plan on using my CC (its not a corporate card), but just in case I need to in emergencies.
when I get my seperation pay from my employer, I plan on paying the CCs off

You are not living up to your name, Johnny boy.

[movie reference] You fargin iceholes! [/]

 

[Slacker]

Originally posted by: sandorski

Originally posted by: crystal

Originally posted by: JohnnyDangerously
ok thanks. yeah of course I don't plan on using my CC (its not a corporate card), but just in case I need to in emergencies.
when I get my seperation pay from my employer, I plan on paying the CCs off

You are not living up to your name, Johnny boy.

[movie reference] You fargin iceholes! [/]

Hehehe, dont worry about the bills, just get yer mom to take in some laundry :laugh: