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Credit

How do i get a credit card and rebuild my credit after filing bankruptcy?

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DB Lady
DB Lady Answered:

  Stay away from credit cards, you'll be tempted to borrow again.

Live within your means.  Do you listen to Dave Ramsey?  He's great.  He'll

tell you the same thing.Innocent

Be honest and be true to yourself.
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GerriDetweiler
GerriDetweiler Answered:

A secured credit card is a good way to go. Your spending will be limited to the amount in your deposit account, and as long as you choose a card that reports to all three credit reporting agencies, you will help build a solid credit rating.

You don't need to carry debt on the card. Pay it off in full each month to avoid interest. Make sure you read the fine print and avoid cards with high fees.

Good luck!

Reliable answers to your credit questions.
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Ron
Ron Answered:

You can simply apply with a credit card company (Preferably not one included in your bankruptcy) and you might just get a small credit line, although unlikely. Your next option is to apply for a prepaid credit card. For this card, you will need to deposit money with the credit card co. which you will access (and replenish) just like a credit line of a credit card. This type card will do 2 things. 1) It shows up on your credit just like a credit card so it will give you credit for a good payment history and 2) Over time, the credit card co. may allow your credit line to exceed your deposit. Rather than get 1 prepaid card for say $500, I would get 2 for $250 so you have two credit lines. Good luck.

Sincerely,

Sell My Note Guy

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Debt Guy
Debt Guy Answered:

I think the first answer you got from DB Lady is the best one.  If you dont have any debt from credit cards then that is the best.

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archercredit
archercredit Answered:

You can get a prepaid credit card or a bad credit credit card, which will have a high interest rate.  If you have a bank account, sometimes your bank can give you a line of credit or card that they will report the credit bureaus.  Also make sure the credit card is reporting the the credit bureaus or there is no point.  Prepaid cards generally do not report.

Restoring your credit can help improve your credit score.  Services can remove late payments and other derogatories that are inaccurate.  Just make sure if you get a card, keep the balance below 35% for optimal credit scoring.

Good luck getting your credit back on track.

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Anna Frank
Anna Frank Answered:

If you have already filed a bankruptcy, then I would also suggest you to stay away from credit cards.

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