You have very few credit card options once you file for bankruptcy. A secured credit card may be an option if you are not fully rehabilitated. This will require you to make a cash deposit. These credit cards are intended to rebuild your creditworthiness. A post-bankruptcy creditcard can be applied for to help improve your credit rating.
Capital One Platinum Secured
Capital One offers a creditcard with a low security deposits. Depending upon your credit score, the amount of the security deposit you pay is typically between $49 and $200. It increases your spending limit by the equivalent amount. This credit card is available to anyone, even bankrupts, provided that they are willing to pay the security deposits.
Capital One Platinum secured credit card is available for applicants with low credit scores. Applicants need to first have a checking/savings account in order not to be denied. Additionally, applicants must show that they have sufficient income to cover their monthly expenses. You can also use a secured credit card, like the Green Dot Visa(r), if you don't have a bank account. You can use these credit cards to deposit cash in participating stores. You can also use them for free checks.
Get it Secured
You should look into a credit card like Discover it Secured if you want to rebuild your credit following bankruptcy. The card's benefits and rewards make it an excellent choice. There is also no annual fee. The card does not charge late fees or foreign transactions. It offers access to your FICO scores for free.
As you begin rebuilding your credit, make sure to make your payments on time and practice responsible buying habits. Since secured credit cards have smaller credit lines, you should start with small purchases every month. This will help you build a stable payment history and show lenders that you are not relying on credit.
Secured Visa with OpenSky
The OpenSky Secured Visa for bankrupt credit card is a great option for those with bad credit. You can apply for the card via Western Union or a debit card. However, you will be required to pay a $200-$3,000 security fee to get the card started. OpenSky mails you your card once they have received the money. It may take two to three weeks before you receive it.
OpenSky Secured Visa Bankrupt Credit Card has the best advantage of all: There is no need to have a checking account or credit check in order to apply. To be approved, you will need to deposit $200-$3,000. The deposit will serve as your credit limit. The card will be approved as long as you meet the requirements, even if it has a low credit rating.
Capital One Platinum Visa to Rebuild Credit
People with bad credit are able to get a credit card that earns them cash back. Credit One Bank's Platinum Visa gives you a one percent cashback on your everyday purchases. However, it is important to be aware of the card's conditions and fees. Expected fees and rates can be common. If you're prequalified, you should only apply to the card.
Capital One will still allow you to apply for a card if you've ever been in bankruptcy. The Platinum Visa for Rebuilding Credit comes with a low-interest rate and no foreign transaction charge. Credit Protection Program will help prevent your credit score falling while you rebuild.