After Bankruptcy Will You be Able Get One

You've received final approval from the bankruptcy court, and want to know if you can get credit cards after bankruptcy. The answer is simple, you will not be able to get credit card after bankruptcy with a liberal credit limits and interest rates.

Chances are, you will have to wait a year or two after release, before we can begin to start a credit card with favorable terms and conditions are the main reason is that credit score will be significantly reduced, not only because it filed for bankruptcy, however, mainly due to the negative credit factors that caused the file protection in the first place.

There is one type of credit card, you can get away, and this might be the best alternative. Before discussing the socalled secured credit cards, let me warn you against some kind of credit card. You heard or seen the ads with a credit card without a credit check. These cards are not worth applying. The reason is that the high fees, high interest rates and usually starts with a small credit limit of $ 300 or less.

Even those who say they do not pay money up front, there will be some charges on the new card, and you end up with an initial borrowing availability of $ 100 or less, despite the card's credit limit of U.S. $ 300 And the fee is excessive. Work should be avoided at all costs. However cards, secured credit cards are worth considering. Several wellknown national banks offer this.

That they are making, your credit limit you want to submit a savings account and the bank issues a credit card secured by savings accounts. If you want to increase the credit line, only after the payment savings account. This program not only saves money, it allows you to establish credit, your account will be reported to credit bureaus.

If you pay your bills on time and avoid exceeding your credit limit, then the bank would consider removing the requirement to provide an account, usually at least one year of history.