Yes, you may get approved for Amex Blue Cash Everyday after a bankruptcy, but only if it is discharged. Unfortunately, the issuer doesn’t disclose how long after a discharged bankruptcy you can get approved for the card. However, Amex Blue Cash Everyday takes into consideration all aspects of your credit history while considering your application.
Please keep in mind that Amex Blue Cash Everyday requires a 700+ credit score. This means that you need at least good credit to get this card.
Having said that, it is also worth noting that you can check to see if you pre-qualify for the Amex Blue Cash Everyday card or other offers. Pre-qualification does not guarantee approval, but unlike an application, it only triggers a soft inquiry on your credit report and does not affect your credit score.
If you filed for Chapter 7 bankruptcy, you should be able to get a secured card as soon as your bankruptcy is discharged. If it was Chapter 13 instead, you’ll need the approval of the trustee during your payment plan.
Credit card issuers generally won’t approve you for any cards while you’re still in the bankruptcy process. But once the bankruptcy discharges, you can get a card that fits your needs.
Here’s how soon after bankruptcy you can get a credit card:
Secured credit card: After bankruptcy discharged
These cards require a refundable security deposit, usually at least $200, which doubles as your credit limit. Because you’re putting up your own money, your approval chances are high.
The Capital One Platinum Secured’s only bankruptcy requirement is that the case must be fully discharged. Some cards, like OpenSky, don’t even check your credit report when you apply, so they’re great for post-bankruptcy credit improvement.
Unsecured credit cards for bad credit: After bankruptcy discharged
Credit cards that don’t require a security deposit are a lot harder for people with bad credit to get than secured cards. They’re also much more expensive, both in terms of interest rates and fees.
One example is the Credit One Visa. Credit One Bank says a discharged bankruptcy won’t hurt your approval chances, but could lead to a lower credit limit and a higher annual fee.
Authorized user: Immediately
If a friend or family member makes you an authorized user on their credit card account, that account will be added to your credit reports, and you’ll benefit if the main account holder pays the bill on time every month. If your friend or relative allows it, you will also get a card with your name on it to use for purchases.
After your bankruptcy is discharged, you may still have difficulty getting approved for a new credit card at first. Some issuers may deny your application simply because there’s a recent bankruptcy on your credit report. However, some lenders might be more lenient. That’s because of rules that restrict when you can file for a second bankruptcy, making you a low risk of filing for bankruptcy again.
The best secured credit card you can get after a bankruptcy is the Capital One Platinum Secured Credit Card because it has no annual fee, and you can get a higher credit limit than your required deposit. You will have to make a deposit of $49, $99 or $200 (depending on your credit standing), for a $200 spending limit.… read full answer
Generally, the secured credit cards you can get after bankruptcy will have permissive approval requirements, open to those with bad credit, or won’t be performing credit checks at all. All credit cards require you to have the bankruptcy discharged and may have certain stipulations with regard to how recent it may be.
Here are some secured credit cards that you can get after bankruptcy:
The Capital One Platinum Secured is the best overall secured card, thanks to its $0 annual fee and a credit limit that could be higher than your required deposit ($49, $99 or $200 minimum refundable security deposit, based on the specifics of your credit). And having bankruptcy on your record generally doesn’t disqualify you from getting approved. This card’s only bankruptcy-related requirement is that your case must be resolved.
Second best is the OpenSky® Secured Visa® Credit Card. OpenSky is advertised as a no-credit-check card, so the issuer only needs to verify your identity and confirm that you have enough income to support your monthly spending. You’ll also have to make a security deposit of $200, at a minimum. However, OpenSky comes with an annual fee of $35.
The Applied Bank® Secured Visa® Gold Preferred® Credit Card is another good, secured credit card that you can get right after bankruptcy. It does not require a credit check. You need to put down a deposit of $200, at a minimum. In addition, the card has an APR of 9.99%, which is one of lowest on the market. The Applied Bank Secured Gold Card comes with an annual fee of $48.
Getting approved for a credit card after bankruptcy can be difficult, but there are options available. The best bankruptcy credit cards will have low annual fees, lenient approval requirements, and will help you rebuild your credit.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub.
Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.