SPIFIMAN1
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I got one from Orchard bank about 3-months after my bankruptcy discharged.
I could have had one much sooner but I kept waiting until I got one that the fees and rates were the lowest and Orchard bank was it.
I used it for everyday purchases and paid it off every month for about 10-months and then got the Providian that I still carry.
Looking back, I am glad that Orchard was there and helped my re-establish my credit.
Good luck. I went through it 6-years ago and now have better credit than I did before. Well over 700 score. |
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GUS
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When my Bk was discharged I did a lot of research and chose Orchard Bank for a MasterCard. Reasonable fee of only $39.00 per year and no application fee. HSBC owns Orchard Bank. All of the others I looked at were secured cards that wanted to give out a $300 - $500 limit card with $150-$200 in fees to setup and approve the account. Orchard gave me an unsecured card with a $2000 limit with no application or setup fees. I used this card for a couple of years for travel expenses for my job and it worked out great. I have since added a couple of Prime cards to my wallet that have no fees and better rates but I still keep my Orchard Mastercard in case of emergency. Good Luck! |
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Jamie F
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A secured card will help rebuild credit. You shoudl be able to get one right away after discharge & an unsecured card shortly thereafter (9-12 months). |
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T Taylor
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Orchard Bank, HSBC Credit Card, and even Capital One (among others) will give you a credit card within 6 months of discharge. One of the posters is right....some credit card companies see you as a lower risk now because you will have little to no debt. You will even get credit card offers in the mail about rebuilding credit. I would suggest you keep the use to a minimum...cut the cards up if necessary, but keep the line open. You won't get the best interest or terms, but it is a start.
It will probably take you several years to build your scores back to what you want them to be. But if you make your payments on time, you can easily qualify for a house (within 2/3 years) or car loan (sometimes within months) |
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Roger B
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If you want a credit card after the bankrup. you might want to look into a secured credit card that's linked to a savings account. Go to your local bank that you have dealings with and inquire there for more info. Hope I helped |
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RICHARD W
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Truth be known it's sometimes easy to restart after a bankruptcy depending on the type.
Typically your credit report shows the bankruptcy and hardly any other debt. Some CC company's are eager to send you a card but be forewarned of large fees. |
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Emily Dew
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A lot of people think that they won't be able to get credit after a bankruptcy, but they're wrong. You'll be shocked at how many credit card offers flood your mailbox every day. They do this because they know you can't file for another bankruptcy for at least seven years (depending on which one you filed for). Many of them will come with high interest rates, but you can take one and begin making little purchases with it, paying it off completely when the bill comes due. |
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alexa dion
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One of the things that need to be made clear is how long after bankruptcy you are applying. Another important topic is the type of credit card you want to apply to. And finally, another issue is the things you can do in order to boost your chances of getting approved for a credit card after going through a bankruptcy process that has ruined your credit score and history.
How Long After Bankruptcy Are You Trying To Apply?
It's is definitely not the same to apply for a credit card right away after bankruptcy than applying after two years or applying past ten years when your bankruptcy will be removed from your credit report. You need to understand that bankruptcies on your credit history scare lenders and financial institutions away and if the entry is in your recent credit history, chances are that you'll get declined.
Truth is that there is no particular time period specified to apply for a credit card after a bankruptcy process. Yet, most lenders and financial institutions would agree that a two year period is the least time required for applying to obtain any kind of financial product if you have gone through a bankruptcy process in the past. Thus, though you may get a credit card sooner, don't expect to obtain an excellent deal.
What Type Of Credit Card Do You Want To Obtain?
Another important issue is the fact that you can't look ahead to obtaining the same credit card products that are offered to those with a fair credit score and history or even those with some minor delinquencies like late payments or missed payments. Those who have defaults or bankruptcies on their credit report will have to be contented with less advantageous products. Read more about it at: http://www.credit-card-gallery.com/article/194,Credit_Cards_After_Bankruptcy_Is_It_Feasible |
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JeffyB
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In your situation, you should not be thinking about credit cards. They will only get you back into debt. Set a budget and live within your means. Any time you pay for something on credit (except true emergencies) you are living beyond your means. Staying out of debt is th ebest way to rebuild your credit. Not trying to be mean.
Good Luck. |
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Studly
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It will depend on the type of bankruptcy, but I bet it's a 13.
You will find it a little difficult to get a new line of credit for a few years.
What I suggest to people I'm helping is to apply for a credit card at a credit union before you file your BK....make sure it's paid off and then talk to the CU credit department to see if they will let you reaffirm the card. They probably won't let you have a large line of credit ($500) but it's a start toward building a new history. |
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Aaron Hall
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7 years with Chapter 11, and they don't erase your credit by filing anymore. Tough break hun! |
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starfairy181
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I filed bankruptcy 3 years ago and I have very good credit now Go to the forum section of http://creditboards.com and READ READ READ |
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goodfella
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I dont think it will be a smart thing to do to get a credit card after bankruptcy because its one of the reasons of bankruptcy.but if you want to get a credit card after bankruptcy i really dont know how long it will take to get a credit card i think it depends if they deny or accept you. |
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