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Credit Card Applications » Credit Card Questions » Other Questions » Does bankruptsy prevent you from applying?

Does bankruptsy prevent you from applying?

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Date:
October 1, 2007, 1:32 pm
Does bankruptsy prevent you from applying?
Answer:
As a matter of fact various issuers have various requirements concerning customers with the bankruptcy in the past. But according to the First Premier, for instance, you should have your bankruptcy finalized at least 6 month ago in order to qualify for one of its credit deals. That probably means, when you declare bankrupt court determines how much and when you have to pay, and when everything is resolved - you have to wait 6 months before applying for a card. Still, the fact that you had bankruptcy stays on your credit report for 7 to 11 years. Of course that does not mean you can not be approved, but you should choose a deal more carefully. A secured credit card is a good way to establish a history after bankruptcy and it is generally offered with lower rates than unsecured cards. Rebuilding credit worthiness depends on the usage of the card. If you use it carefully and pay off your bills on time, you'll benefit from cards for bad credit. Mind that before applying for the card, it's necessary to get your credit report first and correct any mistakes in case you find them. Then, you're welcome to compare the best bad credit cards or secured cards, presented at our website and apply for the one that suits you most.
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