Where Can I Get a Credit Card Post Bankruptcy?

Adam, trying to find a credit card after filing bankruptcy will be difficult at first, especially when the bankruptcy was discharged only a month ago.

However, there are a number of secured credit cards which are bankruptcy friendly, and even unsecured creditors that will issue a credit card after around a year or two has passed. This is based on the assumption that you will keep a clean credit report, meaning no late payments, no missed payments on anything, no judgments or collections, etc. etc.

I would suggest waiting a little while longer before you start racking up credit cards, as the terms you will be offered will be significantly better in a year or two. If you absolutely need a credit card immediately though, you could go with secured cards like the following:

The Orchard Bank MasterCard

Public Savings Bank Secured Card

You could also try the credit companies that are specifically for those with problem credit histories, which include First Premier Bank and First Bank of Delaware.

Keep in mind though that a large number of credit card inquiries on your credit report appears as though you’re credit shopping and could harm your credit score more so don’t go applying everywhere to any credit card you come across. These inquiries stay on your credit report for 2 years, and affect your score more if you don’t have much on your credit report in the first place.

Additionally, if you select a secured credit card, make sure the bank reports to the credit bureaus, so that your payment history is reported. This will help you get better credit cards in the future.

Whatever your decision, remember to use your credit wisely and before you know it you’ll be receiving many offers for credit cards. If you need more information on secured credit cards, check out What are Secured Credit Cards.

Mr. Credit Card