Credit Cards After Bankruptcy

- Updated October 26, 2018

If you’ve filed for bankruptcy and are getting ready to come out of it, it may seem paradoxical, but you need to get right back on the horse and start applying for credit cards. Each credit card will have a different credit balance, which is exactly what you need. It will take a ton of discipline, but you will need to start making small purchases and then paying off the balance right away at the end of the month. Don’t get crazy and start spending more than you make, you don’t want to end up back in bankruptcy.There are many different credit cards you can apply for, consider an American Express Blue Card, a Chase Visa and even a store credit card. You will probably only get a credit line of $500 to $1,500, but that’s not a bad thing. Talk to friends and co-workers they may know of some good cards with low interest rates, but as long as you are paying the balance off each month, you’ll be fine.


You can consider setting up regular monthly expenses on your card. Put the monthly gym bill, the water bill or the cable bill on your card, have it set up to charge your card and then pay it down right away.


Be very cautious with your new credit lines – there will be a tendency to spend, but fight it. Set a regular amount you can’t go over – maybe $300 a month, some low amount that you are very comfortable with. Using credit cards after bankruptcy is the right thing to do, just be smart about it!

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