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I have a discharged bankruptcy from approx. 3 years ago and have since been denied two credit... |
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Date:
June 29, 2007, 9:07 pm |
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I have a discharged bankruptcy from approx. 3 years ago and have since been denied two credit cards because I followed my attorneys suggestions and closed any and all cards and have not used any or opened any for 3years now. The denial stated that I didn't have suffiecient re-establishment of credit since the bankruptcy. But how am I supposed to re-establish my credit if I just get denied? I don't want to just keep applying and hoping as this also reflects negatively on my score which is now at approx. 620. Please answere me asap as I am anxious to get things going. Thank you for your time.
Sincerely,
Coralee
waz33@comcast.net
#from picture 9713 |
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Answer:
The most important thing is to apply only for the cards you are eligible for. You see, each time you are denied your score is further damaged. It is a vicious circle - if you are denied your chances to be approved will also be reduced. However, you shouldn't worry, as nowadays credit is available to the recently bankrupt. Negative information, especially that of bankruptcy, may stay on your credit report for almost 10 years but that does not mean that you are not eligible for a credit card. It may be more expensive than before, and available with lower limits. 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 creditworthiness 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. You're welcome to compare the best offers for bad credit presented on our site and apply for the one that suits you most. |
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