I filed chapter 7 and was discharged in 2012. I have... - Build Credit History Questions

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Questions » User Questions » Build Credit History » I filed chapter 7 and was discharged in 2012. I have no other credit cards secure or...

I filed chapter 7 and was discharged in 2012. I have no other credit cards secure or unsecured, the only payments I’m making is my car payments to my credit union. I tried to apply for the American Express card via Costco but I was turned down. How can I start building my credit? Thank you

Answered on

A good credit card to build credit after bankruptcy is a secured credit card. Secured credit cards require a minimum security deposit of about $200 or less, depending on your creditworthiness. The credit limit is usually equal to the deposit but the minimum is $200. The issuers of secured credit cards report credit activity to the major credit bureaus, so you will be able to improve your credit history. But before you apply you should check your credit reports in case if there is some inaccuracy and find out what your current credit score is. Remember that the issuer may deny your credit card application if your credit score is not high enough.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
See if you Pre-Qualify without harming your credit score
For Poor Credit
Easy pre-qualification process which does not affect your credit score
For Bad/Poor Credit
No Annual Fee. See WebBank/Fingerhut Credit Account Terms.
For Bad Credit

Other Questions in
Build Credit History