Filing for bankruptcy disrupts your credit history considerably. Once the judgment is final, you're left to pick up the pieces and start rebuilding your credit score again. One of the easiest ways to do that is by getting a credit card. Unfortunately, many banks and lenders will deny you one because of the bankruptcy mark in your credit record. However, there are still ways to get a credit card after you have declared bankruptcy.
Step 1
Use an online service such as the one offered by bankrate.com to compare credit card offers and see if you qualify for any of them (see Resources). Cards can be filtered according to interest rate, special circumstances (student, bad credit), type (secured, credit union) and rewards offered. You will be asked to answer a series of questions that will lead to a list of the best credit cards for your particular situation.
Step 2
Start with a secure credit card. This is the easiest option after bankruptcy and requires no waiting time after filling. You will need to deposit a pre-determined amount of money, which will be put into an account and used to cover your line of credit. The average credit card has a $500 limit. Use the credit card responsibly, always pay on time, pay more than the minimum payment and spend less than the maximum allowed. All these actions will impact your credit score favorably.
Step 3
Apply for a store credit card. They're easy to qualify for, report promptly to credit bureaus and can be a good first step in getting a standard credit card. They also have high interest rates, so use them only for things you will be able to pay for when the bill comes.
Step 4
Consider an unsecured credit card with a high interest rate. If your credit history is damaged, chances are you won't able to find anything with a low interest rate. While high interest rates are not ideal, you may be able to negotiate a lower one after nine months to a year of paying your bills on time.
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