Bankruptcy Credit Cards

Getting a credit card when you have been declared bankrupt is not easy, but it is possible.

When banks and credit card companies evaluate credit card applications, one of the first things they look at is the credit score of the applicant. And a bankruptcy can bring your credit score way down.

So one of the first things you want to do is to try and get your credit score back up again. The first step is getting a bankruptcy discharge notice, which the courts can give you once your bankruptcy is over. That show the potential lender that all your debts have now been discharged.

Then you should be able to apply for a bankruptcy credit card. One of the options here is to go for a secured credit card. This is where you establish a credit line with the card issuer by placing funds on deposit with them. Ideally, try to get one that after a period of time (say twelve or twenty-four months) converts to a standard unsecured credit cards. These are available if you shop around.

Leave a Comment

Previous post:

Next post: