- Free Consultation: (202) 448-5136 Tap Here To Call Us
Get a Credit Card After Bankruptcy
Not only can you get a credit card after bankruptcy, it is absolutely essential to repairing your credit. Regardless of whether you file a Chapter 13 or Chapter 7 bankruptcy, once you receive your discharge, you are eligible to get a credit card. Your specific circumstances will determine what kind of interest rates and credit limits you will be offered. Credit card issuers will look at your entire financial picture, however, not just your bankruptcy filing. Do not assume that you do not qualify to get a credit card after bankruptcy. Some people are inundated with offers; others simply have to ask. Take a long-term approach to repairing your credit and get a credit card after bankruptcy.
Why You Should Get a Credit Card After Bankruptcy
Credit cards are essentially short-term loans. One group of credit card companies will be proactive in offering you their cards because it is often during and after bankruptcy that you most need short-term credit. These issuers typically flood bankruptcy filers with offers. Other credit card companies are more cautious, and although they will not offer you a credit card unsolicited, that doesn’t mean that you can’t get a card with them. But you will have to ask.
The more proactive companies will likely charge you higher interest rates. If you are inundated with credit card offers, you should definitely choose one because there is really no better way of repairing your credit after a bankruptcy. But you should carefully look at the interest rates and any additional charges, such as annual charges and late fees, then get the credit card that has the best terms.
Secured vs. Unsecured Cards
While unsecured cards are better for your credit than secured cards, in some cases it may make sense to take out a secured card because you may be compelled to spend less each month. Credit card issuers may also impose limit on your available credit, may ask for a deposit, and may even offer a part of your deposit as the available credit in every bill cycle. The problem with prepaid or secured credit card is that the issuer may not report the financial transactions to the credit bureaus. Before you get a credit card that requires a security deposit, find out if the creditor reports monthly payments to the credit bureaus.
They Called. They're Glad They Did.
Couldn’t have chosen a better attorney! He was extremely down-to-earth, explained everything clearly, and always made himself available whenever I had questions—even after my case was over. He helped me through a difficult financial situation and also helped put me in a better...
Thank you so much, for being an awesome lawyer. You took care of me and my husband when all the lawyer offices that we called did not answer or even seems to care, you stepped in and save the day. You listened to us and you took care of us as if we were family. You listened and...
Choosing Lee Legal to help me file for bankruptcy was the best decision I have made in a long time. Brian explained the entire process and answered every single question I posed. The mountain of building stress due to my situation lifted the second Brian walked me through the...
Brian Lee from Lee Legal was an amazing attorney to work with. He took his time, reviewed my documents and we discussed my situation thoroughly. He explained the process and my options as well as gave his recommendation. Not only did he assist, but he ensured that I knew this...
Brian is hands down the most amazing bankruptcy lawyer out there. he answered all my questions and even supported issues that arose 2 years after discharge Thank you for everything!!!!!!
Mr. Brian Lee made a stressful financial situation much easier to handle. Having a guide who is both deeply knowledgeable and approachable makes a massive difference when you are navigating financial challenges for the first time. THE BEST!!!
Search no more! Brian is trustworthy, friendly, attentive, and knowledgeable. Bankruptcy is never an easy decision to make however when it's time you'll need a good lawyer by your side. This is the man to do the job. I had zero hiccups throughout the entire process. Please do...
I was very nervous and scared about going through this process. But Brian was very knowledgeable and helped me through it. I was notified about any and all updates to my case and he was very responsive when I had questions regarding any concerns I had. Although a bit nerve...
I wanted to share my sincere appreciation for Brian and the support he provided during a very difficult time for my grandmother. We were not wealthy, but Brian treated us with genuine kindness and respect, making sure we felt comfortable throughout the entire process. He took the...
This is your last stop in your searches for an attorney. After numerous research and interview with many lawyers, I decided to hire attorney Brian Lee. He is extremely knowledgeable, personable, attentive and diligent. He went above and beyond to file my ch 7 bankruptcy and get a...
Brian provided me with a very detailed analysis about my potential case after our first consultation. He promptly responded to all my complex questions, especially navigating student loans and some tax discussions. He is very professional and experienced at what he does, I would...
