If you've filed for bankruptcy, you can get a credit card after the filing. You will likely not get many features on your first card and may have to make a deposit to start. But eventually, most good credit card companies will let you upgrade. A credit card can be upgraded without any security deposit. These are some ways to get a credit card after bankruptcy.
Milestone Mastercard
Milestone Mastercard credit may be an option for you if your credit history is poor and you have recently filed for bankruptcy. The company matches borrowers who have filed for bankruptcy to the best card. There is no security deposit and the credit limit is $300. Due to the high annual costs, the credit limit for $300 is quite low. Moreover, the Milestone Mastercard allows applicants to pre-qualify before they apply, which won't negatively affect their credit score. They cannot guarantee approval.
Many consumers have had problems with Milestone Mastercard despite its positive features. Additionally, the cash advance APR of 29.9% can result in serious interest fees if it isn't paid on time. Although responsibly using the card can help you rebuild your credit rating, you must be aware of all terms and conditions. As with any other credit card, Milestone Mastercard has strict terms and conditions, and late payments can damage your score.
First Access Visa
First Access Visa(r) Credit Card is a great option for those who need a credit card, but have bad credit. This unsecured credit card does not require you to make a security deposit. It also has a $300 credit line. The only problem is the high fees that come with the card. You must pay $170 in fees up front, and then there are annual and transaction fees as well.
The card has a 21-day payment deadline, which is slightly shorter than the average credit card. Many cards only allow late payments for a period of 24-25 business days. A $3 copying fee may apply if documents are needed to be copied due to billing errors. This card doesn't offer a rewards program or introductory APR, but it waives the cash advance fee and monthly service fee (up to $8.25) and 3 percent for cash advances.
Bank of America Customized Cash Reward Secured Credit Card
The Bank of America Customized cash Rewards Secured card gives you three percent cash back in any category. Other purchases earn one-percent cash back, while grocery and dining purchases earn two per cent. You can switch the category up to once per month. You can also enjoy a 0 percent intro rate for balance transfers for 15 billing cycles. The feature is only available for purchases of at least $2,500 made on your card in one quarter.
The Bank of America Customized Money Rewards Secured Card has been specifically designed for those with bad credit. The card offers no annual fee, free credit score monitoring, and no annual fees. Although it is difficult to rebuild your credit after bankruptcy, you can still use this card to help you get started on your recovery. This credit card is great for bankrupts because it offers amazing rewards. You can get cash back for certain purchases. Additionally, you can receive rewards from wholesale clubs and grocery shops.