What unsecured credit cards can I get after a bankruptcy?

Question

You can get a credit card any time after bankruptcy. But you should begin exploring options such as secured credit cards as soon as the bankruptcy is discharged in order to begin rebuilding your credit. Though some secured cards won’t approve people with recent bankruptcy, many will, such as Capital One Platinum Secured Credit Card… read full answer and OpenSky® Secured Visa® Credit Card.

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.

In addition to finding the right credit card with which to begin rebuilding your credit, you should review your credit reports for errors and monitor your credit score moving forward. You definitely don’t want the problems that led to bankruptcy to repeat themselves.

show less

Answer 1 · 2022-05-06 15:21:46

Maria Adams, Credit Cards Moderator

@m_adams • 05/06/22 This answer was first published on 04/28/21 and it was last updated on 05/06/22.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

Permalink Report Abuse

You can get a few unsecured credit cards after a bankruptcy, the best of which is the Credit One Visa credit card. It offers 1% cash back on gas and grocery purchases, as well as 1% back on mobile phone, internet, cable and satellite TV services. The annual fee is $75 intro 1st yr, $99 after.

Unsecured credit cards are generally more difficult to get approved for after a bankruptcy, but you could get one as soon as the bankruptcy is discharged. It’s important to keep in mind, however, that the unsecured credit cards that you can get after a bankruptcy come with annual fees and low credit limits. And a recent bankruptcy could lead to a high annual fee.

Here are some unsecured credit cards that you can get after a bankruptcy:

Overall: Credit One Bank® Platinum Visa® for Rebuilding Credit
Instant Approval: Total Visa® Card
Pre-qualify with a soft inquiry: Indigo® Mastercard® for Less than Perfect Credit

A better, and easier, option would be to get a secured credit card and fund a more generous security deposit. Just like unsecured credit cards, you can get a secured credit card as soon as the bankruptcy is discharged.

Secured cards are cheaper in the long run and more practical than an unsecured credit card for bad credit and will still rebuild your credit after a bankruptcy. The OpenSky® Secured Visa® Credit Card is one example, and they don’t even check your credit when you apply.

Other alternatives to unsecured bankruptcy credit cards

You might also try getting a store credit card, like the Fingerhut Credit Account. It’s an easy-to-get unsecured credit line, but it is only accepted at Fingerhut and their partners.

Ultimately, you might want to check out a few more credit cards that you can use after bankruptcy, that also come with low annual fees.

What unsecured credit cards can I get after a bankruptcy?

Maria Adams, Credit Cards Moderator

Here are some unsecured credit cards that you can get after a bankruptcy:

Other alternatives to unsecured bankruptcy credit cards

People also ask

How long after bankruptcy can I get a credit card?

Here’s how soon after bankruptcy you can get a credit card:

Can you get approved for the VentureOne credit card after bankruptcy?

Can you get approved for the Amex EveryDay Credit Card after bankruptcy?

Join WalletHub