Credit Cards Bankruptcy - How to Get the Best

Credit cards bankruptcy - How do I get one?
What to look for when choosing.

A bankruptcy credit card is basically a card that
you can get despite bad credit.

You are probably finding it difficult to build up
your credit rating again after filing bankruptcy.
The major reason for your difficulty is that most
of the major companies will not offer you a credit
card or other loan due to your past credit history.

There are a few things that you can do in order to
lessen the effect that the bankruptcy has on your
credit now, but one of those options (waiting until
it is no longer on your credit report) is not a good
idea if you need a credit card now.

There are some companies that will offer bankruptcy
credit cards. Essentially, these are credit cards
for people with poor, no, or bad credit. You can
improve your credit by getting one of these credit
cards. By paying off your debt on the credit card,
you can build up your credit report so that you'll
be able to get loans and other credit cards in the
future.

Should I get a credit card if I have filed bankruptcy?

Ask yourself: "Can I handle having a credit card?"
Did credit card debt get you into this mess to begin
with? If it did, how have YOU changed? Let's be realistic.
It's difficult to get along in today's world without a
credit card. Some needs are car and hotel reservations,
buying things on the internet, and emergencies.

The most legitimate reason to need a credit card after
bankruptcy is for emergencies. Finance experts recommend
we keep 6 months of savings. This is great advice but
unrealistic for someone just out of bankruptcy.

If you filed a chapter 7 bankruptcy, chances are all
your assets were wiped out to pay your creditors -
especially cash. In a chapter 13 bankruptcy, your
repayment plan may be so tight that you have little
left over to save. Without money saved how do you
handle emergencies or sudden expenses? Blown out
tires, an emergency trip, or a call to the plumber
can wipe you out.

Can you get a credit card after bankruptcy?

Absolutely! It really isn’t that hard.
You'll probably get many credit card offers in the
mail within days of your bankruptcy. The real catch
though is that most of these are total junk. These
credit card offers are betting on one thing: that
you are desperate. By examining these offers closely
you will find that they want hundreds of dollars in
fees. There are monthly fees, annual fees, membership
fees, applications fees, and just-for-the-hell-of-it fees.

My advice for you is to slow down, back up, and wait!

Ignore those offers. You will eventually get better
ones. Wait a couple months and you'll be happily
surprised to find good deals out there such as credit
cards with no annual fees at all. This is what you want.
Then when you get your new card use it wisely. Don’t
buy junk you don’t need and pay it back every month!


Would you like to learn a whole lot more about the
credit card industry? Do you need a credit card?
Would you like to make the money from credit cards
that the banks do? I invite you to
send me an email.