Your credit card options after bankruptcy are limited. A secured credit card will be available if you aren't fully rehabilitated. It will require a cash deposit. These credit cards are designed to help you rebuild your creditworthiness and score. After bankruptcy, you can apply for a post-bankruptcy credit card to help you improve your score.
Capital One Platinum Secured
Capital One offers a credit line with a low security deposit. Depending on your credit score, the deposit can be anywhere from $49 to $200. The same amount will increase your spending limit. Bankrupts are eligible to apply for this credit card provided they pay the security deposit.
Capital One Platinum Secured credit cards are available to applicants with low credit scores. Applicants must have a checking account or savings account in order to avoid being denied. The applicant must also show proof of income to cover monthly expenses. If this sounds difficult, an alternative is to apply for a credit without a banking account, such the Green Dot Visa(r), Secured card. You can use these credit cards to deposit cash in participating stores. These cards can also be used to free up checks.
Find it Secure
You should look into a credit card like Discover it Secured if you want to rebuild your credit following bankruptcy. Its features and rewards make it a good choice, and there is no annual fee. This card also has no fees for foreign transactions or late payments. It offers access to your FICO scores for free.
Rebuilding your credit means that you make timely payments and adopt responsible buying habits. Because secured credit cards offer smaller credit lines, it is a good idea to start with small purchases each month. This will help to establish a payment history that is stable and prove lenders that you do not depend on credit.
OpenSky Secured Visa
OpenSky Secured Visa bankrupt credit card for those with poor credit is an excellent option. To get the card, you can either apply with a debit or Western Union card. However, you will need to make a $200-$3,000 security deposit to get your card approved. OpenSky mails you your card once they have received the money. It may take two to 3 weeks before you receive it.
OpenSky Secured Visa For Bankrupt Credit Card is one of the most attractive options. There are no credit checks or checking accounts required. To be approved, you will need to deposit $200-$3,000. The deposit will act as your credit limit. Even if your credit score falls below these standards, you will still be approved for the card.
Rebuilding Credit with Capital One Platinum Visa
If you have bad credit, a creditcard that earns cashback is an excellent choice. A Platinum Visa from Credit One Bank allows you to earn one percent cash back on everyday purchases. It is important that you are aware of the card's terms and fees. Unexpected fees or rates are not uncommon, so you should only apply if you have been prequalified.
Capital One will still allow you to apply for a card if you've ever been in bankruptcy. Their Platinum Visa for Rebuilding Credit is low in interest and has no foreign transaction fee. Credit Protection Program is designed to protect your credit score and prevent it from falling as you rebuild.