Have you filed for bankruptcy recently? Do you worry that you won't be able to get credit? The good news is that you can still get a credit card. And here's some even better news: you can start to rebuild your credit right away. With careful planning, you'll be back on track with your money in no time. Read on to find out more about how to get a credit card after filing for bankruptcy.
Credit After Filing for Bankruptcy
The fact that you filed for bankruptcy can stay on your credit report for up to ten years. Still, you don't have to wait ten years to get a credit card. Lenders decide on a case-by-case basis whether to give credit or not. There are many credit cards made just for people with bad credit. This means you might be able to get a credit card soon after filing for bankruptcy.
Before you apply for a credit card, you should know that because you filed for bankruptcy, lenders may see you as a higher risk customer. This means that it might cost more to get a credit card and keep it. People with bad credit usually have higher interest rates and lower credit limits on their cards. Remember that you are lucky to have a credit card. If you use it well, you can enjoy the many benefits that come with it.
Think about a Gold MasterCard.
After filing for bankruptcy, you can apply for the Imagine Gold MasterCard, which is a smart card. It's open to everyone and doesn't need a security deposit. Even better, it tells three of the biggest credit bureaus about it. This card has a number of fees, including a $150 annual fee and a $4.95 one-time processing fee. Your credit score will go up as you use the card and pay off the balance every month. Your line of credit will also keep going up over time.
First Premier Bank
First Premier Bank is known for its credit cards for people with bad credit or no credit at all. With their system, it's easy to get a card and work on getting your credit back on track. Expect to pay some fees to start using their card, as well as monthly and annual fees. First Premier Bank will help you get rid of your bad credit history if you pay off your balance every month and manage your money well.
Fix up your credit.
Once you have a credit card, you can fix your credit score in a number of ways. When and where you use your card should be carefully thought out. Before you buy something, think about how quickly you will be able to pay it off. Start by getting small, cheap things. Then, each month, pay off your bill. Credit card companies and other lenders will notice if you work hard to pay off your balances on time and in full every month. This will help you a lot on your way to getting better credit.
Bankruptcy is not the end of the world. Better yet, even if you have bad credit, you can still get a credit card. You can start to rebuild your credit after bankruptcy by applying for a credit card. Once you get a new credit card, be smart about how you use it. With a little bit of planning, you can see your credit score and credit line go up. Over time, you'll have more credit options and a better financial future because of this.
