Why You Get the Best Credit Cards after Bankruptcy
Follow these 4 tips and get the best credit cards after bankruptcy
Believe it or not, you actually can get the best credit cards after bankruptcy. And I'm not talking secured cards or cards that have major limitations on them, either. Bankruptcy leaves a huge black mark on your credit record, but it's also a sign that you've been to the bottom and learned your lesson. Very few people declare bankruptcy a second time -- once is usually enough!
Given that, many credit cards actually court people who have declared bankruptcy. If you want them to find you, follow these simple tips.
Tip #1 -- Keep your credit record spotless
Don't give them any reason at all to suspect that you're reverting to old habits. A couple months of regular payments, even on a secured card, go a long way toward improving your chances of the best cards.
Tip #2 -- Make calls and write letters
Before you apply for a credit card, give the company a call. Explain the circumstances. Maybe you declared bankruptcy but making a strong effort to reform -- and discuss your chances of getting a card.
Tip #3 -- Be picky
Get a secured card or whatever you can, and then take your time finding the best credit cards after bankruptcy. Don't jump at the first unsecured credit card that looks halfway decent: chances are you'll find something more appealing along the way.
Tip #4 -- Work with your bank
This is especially effective if you have a secured credit card with a bank. Once you've shown them that you're reliable, they're usually quite willing to issue you a standard card. In that case, simply sit down and explain to them exactly what you're looking for. You might be surprised how easily they accommodate you.
The point is that just because you declared bankruptcy doesn't mean that you're doomed to a life of bad credit. Indeed, with some hard work and determined effort you can actually get the very best credit cards after bankruptcy.
« Credit Card Debt: The Root of All Evils? | Home | How to Manage Your Credit Card in a Bad Economy »
